China’s Baidu releases new, free AI model to compete with DeepSeek
Baidu announced in a WeChat post that its latest X1 reasoning model -- which the company claims performs similarly to...
Business
Business
40 Saudi, German companies discuss investment opportunities
The German delegation comprised companies working in the areas of water, training, education, infrastructure, industries, constructions and innovation.
- The German delegation comprised companies working in the areas of water, training, education, infrastructure, industries, constructions and innovation
- The two countries have an institutional base for their economic ties represented by the Saudi-German Joint Committee and the Saudi-German Business Council
Business
Dubai starts issuing multiple-entry visa for Qatar World Cup fans
Dubai, UAE— Dubai has begun to give out multiple-entry tourist visa for "Hayya cardholders" traveling to Doha for the World...
- General Directorate of Residency and Foreigners Affairs (GDRFA)Â issued the first 90-day multiple-entry tourist visa to Mohammed Jalal, a Jordanian football fan
- Arrivals, according to GDRFA, can have their visas before reaching the country and can shuttle frequently between Dubai and Doha for matches several times a day
Business
Residential properties in UAE remain key attraction for international real estate investors
Experts attribute the main reasons for the increase in the real estate demand to the UAE government's numerous initiatives and...
- Experts attribute the main reasons for the increase in the real estate demand to the UAE government's numerous initiatives and the high income level of investors
- The UAE continues to witness a positive trajectory across the residential, office, retail, and hospitality segments in the third quarter of this year, says a new report
Geostrategy
Abu Dhabi, Kyrgyzistan’s Bishkek City sign twinning agreement
Abu Dhabi, represented by Abu Dhabi's Department of Municipalities and Transport, and Bishkek City have signed a twinning agreement to...
- As part of the city twinning agreement, the two capital cities will enable mutual exchange between delegations and the business community.
- The pact will also facilitate exchange of knowledge in urban planning and explore the feasibility of joint venture projects.
Geostrategy
UAE Minister, IMF Director discuss challenges facing MENA
UAE Minister of State for Financial Affairs Mohamed Hadi Al Hussaini met with Director of the Middle East and Central...
- The minister underscored the importance of the IMF in enhancing the safety of the global economy.
- He said that the IMF helps in creating a stable financial environment, especially in light of the exceptional circumstances the world is facing.
Market Report
Global stocks rise on Fed optimism, zero-Covid China policy reports
Global stock markets rose as traders looked to the US Federal Reserve's interest rate decision hoping it will signal a...
- Recent reports have suggested officials are looking to dial down the pace of increases, which has sparked a rally in risk assets over the past week.
- Positive results from multinational firms also helped lift equities.
Economy
Libya aims to double oil output by 2027: National Oil Company head
Tripoli, Libya---Libya is aiming to nearly double its oil output to two million barrels per day by 2027, the head...
- Farhat Bengdara said the country, which currently produces around 1.2 million bpd, was expecting revenues of "$35-$37 billion" this year.
- The NOC chief was taking part in the ADIPEC energy conference in Abu Dhabi, where he also said he expected to sign an $8 billion deal with Italian major ENI.
Business
JAHEZIYA, Enekom ink pact
Pact aims to expand railway solutions, technology in region.
- As per the agreement, JAHEZIYA will be Enekom’s exclusive distributor of the patented RailAcoustic Sensors in the GCC to enhance railway security.
- The partnership was announced during ADIPEC, an exhibition in which the world’s energy ecosystem assemble.
Economy
UAE-US partnership to spur $100 bn clean-energy financing, development
The Partnership for Accelerating Clean Energy will see the two countries develop, finance and deploy clean projects in the US,...
- UAE Special Envoy for Climate Change Dr. Sultan Al Jaber and Special Presidential Coordinator Amos Hochstein signed the partnership at ADIPEC.
- They will accelerate investment in fossil fuel emissions mitigation; further develop CCUS technologies and advance methane measurement and management.
Business
ADEX signs line-of-credit pact with National Bank of Iraq
The Abu Dhabi Exports Office (ADEX), the export-financing arm of Abu Dhabi Fund for Development (ADFD), has signed a US$10...
- The agreement between ADEX and NBI aims to boost economic cooperation between the UAE and Iraq.
- The pact adds momentum to ADEX’s effort to contribute to the economies of both countries and support the UAE’s strategy on economic diversification.
China’s Baidu releases new, free AI model to compete with DeepSeek
Baidu announced in a WeChat post that its latest X1 reasoning model -- which the company claims performs similarly to...
Business
Company News
Silal acquires stake in SAFCO
Business
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Samsung profits plunge
Business
GCC equity markets record first gain in four months
The GCC equity market index rebounded notably in November 2023, with the MSCI GCC index rising 5.2%, led by Qatar...
Business
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Business
People-positive approach needed in clean power transition: WEF paper
Dubai, UAE --Â Building massive infrastructure for clean power projects in pursuit of climate goals will need nearly $4.5 trillion in...
- The white paper calls for a dialogue between the industry and community groups and NGOs to define common standards for a people-positive energy transition.
- It also urges governments to not only focus on the lowest price but also the wider societal value creation in their transition plans.
Business
KSA offers 30-year tax holiday for global corporations as regional HQ program fuels investment boom
The approaching 1 Jan deadline has seen investments on headquarters hit $242m in the first nine months of 2023 alone,...
- In 2023, 46.7 percent of newly established headquarters operate in the Software & IT services sector.
- The Regional Headquarters (RHQ) Program is an initiative jointly developed by the Ministry of Investment (MISA) and the Royal Commission for Riyadh City.
COP28 UAE
First Movers Coalition emerges as top advocate of climate-friendly technologies
Dubai, UAE-- Since its launch two years ago, the First Movers Coalition (FMC) has become the world's largest private sector...
- FMC member companies have signed 94 offtake agreements to purchase emerging climate technologies.
- The coalition engages 13 governments who together account for over 50% of global gross domestic product