JPMorgan to launch ‘Pay With Your Face’ Shopping
JPMorgan Chase is reportedly preparing to launch a biometric payments system for the masses, the Daily Hodl reported quoting the American...
Business
Saudi Arabia partners with Microsoft Arabia for AI use in media
Riyadh, Saudi Arabia - The Ministry of Media and Microsoft Arabia signed a memorandum of understanding (MoU) in Riyadh on...
Business
Business
ADIB, ADGM to support growth needs of Abu Dhabi financial community
Abu Dhabi, UAE -- Abu Dhabi Islamic bank (ADIB) and Abu Dhabi Global Market (ADGM) will collaborate to support the...
- ADIB will provide clients with ADGM licensed managers for Sharia compliant banking and share news on developments in finance sector.
- Also, a formal framework for cooperation in education, business development between the Bank and ADGM is also a part of the deal.
Business
Masar, BTC Network sign agreement for info center, infrastructure
Makkah, Saudi Arabia---Umm Al-Qura for Development and Construction, owner and developer of Masar, the SR100-billion ($26 billion) destination in Makkah,...
- Masar, the SR100-billion ($26 billion) destination in Makkah, aims to enhance the quality of life of the residents and visitors of the Holy city.
- BTC Networks has three decades of experience that will support Masar’s smart infrastructure, in line with the Kingdom’s Vision 2030 goals.
Business
Tencent Q3 revenue down 2 percent
It is Tencent's second consecutive quarterly decline in revenue.
- The Hong Kong-listed company is the world's top video game maker and the owner of popular super-app WeChat.
- Tencent said domestic video games in particular saw a 7 percent decrease in the three months ending September 30.
Business
QatarEnergy, Qatargas celebrate loading of 30,000th ship from Ras Laffan
Doha, Qatar---Qatar’s state-owned QatarEnergy and Qatargas, the world's largest liquefied natural gas (LNG) company, celebrated the loading of the 30,000th...
- The LNG cargo was loaded on board the Qatargas-chartered Q-Max LNG carrier "Mekaines."
- Qatargas Terminals are entrusted to handle approximately three million barrels of oil equivalent of both LNG and non-LNG products every single day.
Business
FSRA grants Binance permission to provide crypto custody services
Abu Dhabi, UAE---Binance, world's biggest cryptocurrency exchange, announced that it has received a Financial Services Permission (FSP) from the Financial...
- Binance received a Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) in the Abu Dhabi Global Market (ADGM).
- ADGM, the International Financial Centre in the capital of the UAE, introduced the world’s first comprehensive and robust virtual asset regulatory framework in 2018.
Business
Arada to participate in Gulf’s largest real estate show, Cityscape Dubai
Arada will showcase its existing projects, Aljada and Masaar, as well as announce new expansion plans that cater to the...
- Arada will showcase its existing projects, Aljada and Masaar, as well as announce new expansion plans that cater to the strong investor demand for property in the UAE
- Arada has so far launched three master-planned communities with a total value of AED 33 billion, making it the largest developer in Sharjah
Business
Six airlines ordered to pay over $600 mn in refunds to passengers
Authorities have received a "flood of complaints from air travelers" since the start of the pandemic, over a lack of...
- The airlines hit were American low-cost carrier Frontier, as well as foreign carriers Air India, TAP Portugal, Aeromexico, El Al and Avianca
- The department's actions have led to "thousands of passengers" being provided with more than half a billion dollars in required refunds
Business
Algeria signs three-year deal to sell gas to Slovenia
While Europe scrambles to replace Russian energy supplies in the wake of the war in Ukraine, Slovenia has signed a...
- The deal is the latest in a string of such accords with European firms despite experts casting doubt on whether Algeria has the capacity to meet them
- The eastern European country is heavily dependent on Russian gas, but Moscow has shut its pipelines to Europe in suspected retaliation for Western sanctions
Business
MSC World Europa, 22-deck cruise ship, docks at Doha for World Cup
Doha, Qatar—The 22-deck cruise ship MSC World Europa (floating hotel) has docked at Doha Port for FIFA World Cup fans...
- The cruise ship, designed with the highest standards of security and safety, can accomodate 6,700 World Cup fans
- The ship offers 7 swimming pools, 13 whirlpools, and the most luxurious yacht club, which includes public spaces, outdoor areas and new suites
Business
ADGM Courts launches blockchain technology in Abu Dhabi
Abu Dhabi, UAE— Abu Dhabi Global Market (ADGM) Courts has announced the first-ever introduction of blockchain technology for the global...
- The blockchain solution will result in substantial time and cost savings for parties in the enforcement of their commercial judgments
- Parties will no longer need to wait for a certified copy of the judgment to start the process in the enforcing jurisdiction
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
JPMorgan to launch ‘Pay With Your Face’ Shopping
JPMorgan Chase is reportedly preparing to launch a biometric payments system for the masses, the Daily Hodl reported quoting the American...
Business
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EWEC, Masdar sign purchase pact
Business
ADNOC to deploy UAE-made drones
Business
SUV sales ‘offset’ carmakers’ electric gains: Greenpeace
The SUVs produced by Toyota, Volkswagen, and Hyundai-Kia have all posted sales increases of more than 150% over the past...
Economy
Iran’s exports to African countries register 185 percent growth
Tehran, Iran--Iran’s export to African countries in the first seven months of the current Iranian calendar year registered a 185...
Economy
Amazon releases AI chatbot
"Q" will be available only to the company's AWS cloud.
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Business
ADX set for dynamic growth in 2024 with new listings
"ADX's crucial role in bridging investors with companies, fostering growth opportunities, and reinforcing the UAE and Abu Dhabi's status as...
- Abu Dhabi Securities Exchange anticipates continued growth and new listings in 2024, says CEO Abdulla Salem Al Nuaimi.
- 2023 witnessed notable listings like ADNOC Gas and Investcorp Capital, with more scheduled, including the Phoenix Group.
Business
Abu Dhabi IPO Fund looks to launch three IPOs by end of 2024
Abu Dhabi, UAE--Abu Dhabi IPO Fund (ADIPOF) is working on three initial offerings in the technology, hospitality, restaurants, and financial...
- Al Khawaja said one of the offerings will be for a family business in the financial sector and foreign exchange and remittances
- The fund, according to Al Khawaja, considers family businesses as the key to advancing economic development in Abu Dhabi
Business
GCC banks navigate rising rates with record lending
Despite global credit risks, GCC banks thrive with overall lending growth, bolstered by strong performances in Saudi Arabia and the...
- Despite global credit risks, GCC banks thrive with overall lending growth, bolstered by strong performances in Saudi Arabia and the UAE, and robust economic indicators.
- GCC-listed banks hit a new record with aggregate gross loans reaching US$1.95 trillion by Q3-2023, as strong manufacturing and project awards boost market scenario.