Accenture, AWS sign six-year Middle East cloud, AI, data deal
Accenture has signed a six-year strategic collaboration agreement with Amazon Web Services (AWS) to help organizations across the Middle East...
Business
As AI joins the workforce, who gives it authority?
The first generation of enterprise generative AI largely answered questions, summarised documents and produced content. A human usually remained responsible...
Opinion
Analysis
Alphabet and Tesla in focus as markets demand more from Big Tech
"Three months ago investors were comfortable funding aggressive AI investment," Gilbert added. "Today they're asking tougher questions. Markets now want...
- One bright spot remains Alphabet's AI monetisation strategy, with Gemini now exceeding 900 million monthly users.
- The market expects Tesla to report USD 26.3 billion in revenue and earnings per share of USD 0.50.
Business
CFI posts record first-half trading volume of $5.34 trillion
Dubai, UAE -- CFI Financial Group said it recorded its strongest first half on record, with trading volume reaching $5.34...
- The broker expanded into Brazil, launched UAE local stocks and Bahrain digital assets while active clients rose 8.4 percent annually.
- The company said metals generated the strongest demand during the quarter, followed by increased activity in equity indices.
Business
ADNOC Okays $6.2bn Umm Shaif project to expand UAE supply
Dubai, UAE -- Abu Dhabi National Oil Company (ADNOC) has approved a final investment decision (FID) worth $6.2 billion to...
- Umm Shaif Gas Cap project will produce over 600 million scfd of gas by 2030, boosting UAE energy security significantly.
- Project includes $5.1 billion EPC contracts and $365 million drilling programme executed by ADNOC Drilling over 18 months.
Business
Awqaf Dubai investment portfolio market value rises to $402 million
Dubai, UAE -- Dubai's Endowment and Minors' Trust Foundation (Awqaf Dubai) said on Monday the market value of its securities...
- The portfolio's cost value increased 16.6 percent year-on-year to AED1.398 billion, while its market value rose 5.5 percent, or AED76.5 million.
- Awqaf Dubai said it made new investments worth AED285.1 million during the first six months of the year, up 150.7 percent from the same period a year earlier.
Business
Sanad posts record revenue
Growth driven by global demand for services.
- Company expanded engine portfolio to 17 assets and increased annual workforce 44 percent as it broadened aerospace capabilities.
- Sanad invested over $218 million in infrastructure, including new repair and testing facilities, to support long-term aviation growth.
Business
Saudi public investment funds assets rise 20 percent in Q1 to $61 billion
Dubai, UAE -- Assets of Saudi Arabia's public investment funds rose 20 percent year-on-year to SAR231.7 billion ($61.8 billion) in...
- Assets of local funds increased 17 percent from a year earlier to SAR192.1 billion, accounting for 83 percent of total public investment fund assets, Argaam reported.
- Assets of foreign funds, which represented the remaining 17 percent of total assets, rose 35 percent year-on-year to about SAR39.6 billion, according to the report.
Economy
UAE non-oil trade reaches record $527 billion in H1, says Al Zeyoudi
The milestone reflected the success of the UAE's strategy to build a diversified, competitive and open economy while strengthening its...
- He said the performance demonstrated continued international confidence in the UAE economy despite global headwinds and regional geopolitical tensions.
- Al Zeyoudi attributed the growth to the country's expanding trade relationships, supported by its Comprehensive Economic Partnership Agreement (CEPA) programme.
Business
Abu Dhabi real estate transactions more than double in H1
Data released by the Abu Dhabi Real Estate Centre (ADREC) showed total real estate transactions reached $31.9 billion in the...
- Foreign investment jumped 309 percent while new investment zones and projects underscored growing global confidence in Abu Dhabi property.
- The number of nationalities represented by non-resident investors rose to 116 from 82 a year earlier.
Saudi Ports Authority signs $266.6 million logistics agreements
Dubai, UAE -- Saudi Ports Authority (Mawani) signed seven agreements worth 1 billion riyals ($266.6 million) to establish logistics centres...
- The agreements were signed during the inauguration of the Truck Marshaling Project.
- They include projects to develop integrated logistics, warehousing, storage, distribution and re-export facilities.
Business
PIF-backed SURJ launches venue venture radia with Live Nation, OVG
Dubai, UAE -- SURJ Sports Investment Co, owned by Saudi Arabia's Public Investment Fund (PIF), has launched a joint venture...
- PIF-owned SURJ formed radia with Live Nation and Oak View Group to manage Saudi sports venues and operations nationwide.
- Xavier Campbell was appointed chief executive officer and will lead the company's market launch and long-term growth strategy.
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Accenture, AWS sign six-year Middle East cloud, AI, data deal
Accenture has signed a six-year strategic collaboration agreement with Amazon Web Services (AWS) to help organizations across the Middle East...
Business
Company News
DEWA posts record H1 profit
Business
Latest News
Tabreed H1 revenue $308m
Business
GCC banks need stronger safeguards amid geopolitical uncertainty, KPMG says
KPMG says banks can strengthen portfolios through scenario analysis, stronger governance and monitoring as geopolitical tensions threaten borrowers, funding conditions...
Analysis
UAE, Qatar lead Global Telecom Health Index on market structure
Kearney’s 34-market study finds coordinated investment, strong customer satisfaction and financial performance helping the two Gulf markets outperform larger economies.
Business
Most Read
Business
World Governments Summit, WTTC launch tourism partnership
The World Governments Summit Organisation and the World Travel & Tourism Council have launched a strategic partnership to advance global...
- The partnership seeks more flexible, sustainable policies that strengthen tourism’s contribution to investment, economic growth, job creation and international cooperation.
- Cooperation will focus on global dialogues, knowledge exchange and future-ready initiatives designed to help the sector adapt to changing conditions.
Opinion
Cyber resilience is more than recovering from an attack
The question is no longer if an organization will experience a cyber incident. It is how well it will respond...
- Organizations increasingly adopt "assume breach" strategies, prioritizing detection, response and recovery alongside traditional preventive cybersecurity investments today.
- AI and automation accelerate threat detection and recovery, while boardrooms increasingly measure cybersecurity through business resilience outcomes instead.
Business
ADNOC L&S to expand fleet
It will acquire 11 carriers for $1.3bn.
- Acquisition includes nine vessels entering service this quarter, with two Chinese-built gas carriers scheduled for fourth-quarter delivery.
- The company said the acquisition would provide near-term operational and earnings potential while increasing the scale, flexibility and resilience of its shipping platform.