ahli islamic introduces Sharia-compliant Money Market Fund
MUSCAT, OMAN – As part of its investment solutions and Sharia-compliant products and services, ahli islamic, ahlibank’s Islamic banking window,...
Business
Rising threat: DDoS attacks demand proactive defense
"Threat actors can employ artificial intelligence (AI) and machine learning (ML) algorithms to identify vulnerabilities and adapt their tactics in...
Business
Saudi Arabia grants 52 mining licenses in August
Riyadh, Saudi Arabia—Saudi Arabia’s Ministry of Industry and Mineral Resources has issued 52 new mining licenses in August 2022, according...
- Out of the total, 18 were to build material quarries, 21 were exploration licenses, three exploitation licenses, and five survey licenses
- In line with Saudi Vision 2030 and the National Industrial Development and Logistics Program, the ministry seeks to protect the mining sector and maximize its value
Business
Al Awali to raise US$133m
The Saudi developer will offer 20% of its shares on Nomu.
- the Saudi real estate developer will float its stake by the first quarter of 2023 as a step toward obtaining the funds that will be needed for the expansion plans
- The company has a capitalization of $53.33 million, and its shares are expected to be offered at between SR25 and SR32
Economy
OPEC’s World Oil Outlook to be launched at ADIPEC on Oct 31
This year’s publication will again be accompanied by a smart app to give increased access to the WOO’s vital analysis...
- This year’s publication will again be accompanied by a smart app to give increased access to the WOO’s vital analysis and energy data
- First published in 2007, the WOO provides an in-depth review and analysis of the global oil and energy industries
Science
Trust in digital services increases across MENA region despite rising online security threats
MENA residents' satisfaction and expectations about how services can and should be delivered have been radically altered due to the...
- MENA residents' satisfaction and expectations about how services can and should be delivered have been radically altered due to the COVID-19 pandemic
- Increased interest and spending on technological infrastructure, especially artificial intelligence is in line with the global trend toward digitization
Business
flydubai, Smartwings sign agreement
flydubai will wet lease four Next-Generation Boeing 737-800 aircraft.
- flydubai currently operates a single-fleet type of Boeing 737 aircraft that includes 32 Next-Generation Boeing 737-800, 33 Boeing 737 MAX 8 and three Boeing 737 MAX 9.
- The all-Economy Class aircraft will operate on select routes on the flydubai network including Chattogram, Colombo, Dhaka, Karachi, Multan, Muscat and Sialkot.
Business
Germany fills 95 percent of gas reserves as winter draws near
Berlin, Germany - Germany on Friday said it had filled its gas reserves to 95 percent of capacity faster than...
- Europe's largest economy had been heavily dependent on Russian gas and has raced to bolster its reserves after deliveries from Russia halted.
- The government said energy-saving measures in recent weeks and massive purchases of gas from other suppliers had led to significant progress.
Business
US banks report solid results, warn of rising recession risk
Large US banks reported a round of solid quarterly profits, but cautioned of rising recession risks as the economy absorbs...
- There are worries including on stubborn inflation that has prompted significant central bank interest rate hikes.
- There are concerns over geopolitical fallout from the Ukraine crisis, uncertainty in the oil market and worries about European energy security this winter.
Geostrategy
Russia’s Rosneft sues Germany over refinery seizures
Russian oil giant Rosneft has filed a complaint against the German government for taking control of its German-based refineries, a...
- Berlin in September took control of Rosneft's German subsidiaries, which account for about 12 percent of oil refining capacity in the country.
- Germany said the dramatic move last month was necessary to counter "a threat to the security of energy supply", as relations with Russia deteriorate.
Business
By 2030, TAQA targets a 25% reduction in greenhouse gas emissions
The strategy includes the national low-carbon power and water champion’s interim greenhouse gas (GHG) emissions reduction goals.
- The strategy includes the national low-carbon power and water champion’s interim greenhouse gas (GHG) emissions reduction goals
- TAQA will focus on the decarbonisation power and water supply, electrification across sectors to support more efficient use of power and water
Business
Mubadala buys stake in EQT Infrastructure’s GlobalConnect
GlobalConnect is a fiber-based data center services provider.
- Headquartered in Stockholm, Sweden, GlobalConnect is a fiber-based data communication and data centre services provider.
- The company was created in 2019 through the combination of four independent fiber platforms in Denmark, Norway and Sweden.
Most Read
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
ahli islamic introduces Sharia-compliant Money Market Fund
MUSCAT, OMAN – As part of its investment solutions and Sharia-compliant products and services, ahli islamic, ahlibank’s Islamic banking window,...
Business
Company News
Latest News
Cisco buys Splunk for US$28bn
Business
ADSB to make two vessels for ADNOC Logistics & Services
ABU DHABI, UAE - Abu Dhabi Ship Building (ADSB) announced that it is building two 28-meter vessels for ADNOC Logistics...
Business
$5.8bn worth deals signed in first four days of Dubai Airshow 2023
DUBAI, UAE – Tawazun Council signed 16 deals, worth US$1.3 billion (AED 4.87 billion), with local and international companies on...
Business
EPI to make assembly parts for Raytheon
EPI is part of the Platforms Systems cluster within EDGE.
Business
Most Read
IBM pulls ads from Elon Musk’s X over pro-Nazi posts
In the year since taking over Twitter, now rebranded as X, Musk has gutted content moderation, restored accounts of previously...
- The move came as X owner Elon Musk faced criticism for endorsing an unfounded antisemitic conspiracy theory on the service
- Nonprofit Media Matters reported that it found Apple, Oracle and IBM ads displayed next to posts touting Hitler and the Nazi Party on X
Business
Google launches new AI features for organizing photos
Washington, United States - Google said on Thursday that Google Photos now groups together similar photos and organizes screenshots and...
- Google Photos will automatically identify and group similar photos that were taken close together into Photo Stacks
- The company is also applying the technology to screen shots and important documents stored on a user's phone
Business
UAE awards EDGE $65m contract to supply unmanned aerial systems
Abu Dhabi, UAE – ADASI, the EDGE Group entity, a regional leader in autonomous systems and services, said on Thursday...
- Aimed at further advancing air operations, GARMOOSHA is an unmanned aircraft designed to carry payloads of 120kg with a range of 150km
- With a low-consumption fuel engine, its sensor capabilities make it a versatile system capable of solving some of the most difficult challenges