AI’s US$19.9tn contribution: Insights from Tealium on digital economy’s future
By 2030, every dollar spent on AI-powered solutions is expected to generate US$4.60 in economic value, according to global analyst...
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Business
Foreign firms can now get approval for dual listing on Tadawul
Riyadh, Saudi Arabia— Foreign companies will be able to obtain approval for dual listing on the Saudi market, according to...
- Mohammed Al-Rumaih told media that companies need finance to expand in particular industries, noting that the capital market aims to be the first partner to provide finance
- Tadawul Group witnessed its 39th listing of the year on Oct. 25, with 18 listing requests approved by the CMA through 2022
Business
Arab Broadcasting Festival set to begin in Riyadh, in November
Riyadh, Saudi Arabia—The stage is set for the Arab Broadcasting Festival to begin next month in Riyadh as preparations have...
- President of the Arab States Broadcasting Union (ASBU) and CEO of Saudi Broadcasting Authority, Mohammad bin Fahd Al-Harithi, announced the completion of the ongoing preparations
- Al-Harthi explained that the hosting comes from the authority’s role in the Kingdom’s Vision 2030, which aims to develop the production industry
Market Report
Gulf indices ease as China COVID curbs hit oil prices
Stock markets across the GCC remained less enthusiastic as oil, which fuels the region's growth, declined amidst fresh coronavirus scare.
- Gulf stock exchanges declined during the last two trading days.
- The Dubai Financial Market fell 49 points for this week as a whole, or 1.4 percent, compared to last week,
Business
Octopus Energy acquires Bulb
Firm said it was paying the government a nine-digit sum.
- Bulb, Britain's seventh-biggest supplier, collapsed in 2021 due to soaring wholesale prices
- The government will give financial support to buy energy for Bulb customers over this winter.
Geostrategy
Jordan to host renewable energy investment forum
AMMAN, JORDAN - Amman is scheduled to host the Seventh International Investment Forum for Renewable Energy and Energy Efficiency in...
- The forum will discuss over three days many important and vital issues on various fields of renewable energy, energy efficiency, green hydrogen.
- The forum's themes will also cover innovative agricultural patterns, energy management, carbon trading.
Geostrategy
Jordan cabinet reshuffle aims at modernization plans
Jordan's cabinet reshuffle is a mandate for the government to work within the Kingdom's three modernization tracks, launched at the...
- The plans include political, economic and public sector modernization.
- The new tasks for the government are streamlining performance, improving public service, attracting investment and economic development.
Business
Stc posts US$2.5bn profit in Q3
It said profit was driven by multi-sector investments.
- The telecom company's revenues hit $13.33 billion during the nine-month period, up from $12.53 billion last year, which was offset by lower cost of revenue
- During the third quarter, stc’s profits jumped 21 percent to reach $933 million
Business
Abu Dhabi Airports revamp its brand identity
The makeover is geared to provide connectivity and hospitality that showcases the emirate as a prime travel destination.
- The makeover is geared to provide connectivity and hospitality that showcases the emirate as a prime travel destination
- It also aims at ensuring safe, secure and sustainable airport environments and operations
Business
Musk seeks to soothe critics with Twitter content panel
The deal drew contrasting reactions, with former US president Donald Trump cheering the change of leadership on a platform that...
- Musk's first policy act was to tweet that he will form a "content moderation council" embracing "widely diverse viewpoints."
- "No major content decisions or account reinstatements will happen before that council convenes," he said
Business
Alpha Dhabi posts US$2.45bn net profit
It recorded a150% rise in profit in first nine months of 2022.
- Revenues also grew significantly standing at $7 billion, representing a year-on-year increase of 133 percent with strong contributions from the existing portfolio in the healthcare
- The Group remains well-funded with a strong cash position of $4. 62 billion
Company News
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Crypto markets witness dynamic asset allocation amid volatility, says study
DUBAI, UAE – Institutional traders (INS) in the crypto markets maintain a conservative approach, with 50 percent of their portfolio...
Business
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Business
Riyad Bank Saudi PMI down to 57.5 points in November
Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Manager's Index (PMI), formerly S&P Global Saudi Arabia PMI,...
- The index continued to signal a rapid expansion in the non-oil private sector in November,
- Higher raw material prices led to a continuous increase in corporate sales prices, but demand remained strong.
Geostrategy
Putin to visit UAE, Saudi Arabia for talks amid OPEC output cuts
Russian President Vladimir Putin, according to his aide Yuriy Ushakov, will first arrive in the UAE this week and then...
- The announcement of the visit follows the recent OPEC decision to cut oil production by 2.2m bpd in Q1 of 2024
- Saudi Arabia, as the world's largest exporter, will see a reduction of 1 million barrels per day
Business
ADQ and Qazaqstan Investment Corporation set up ‘investment platform’
Abu Dhabi, UAE--ADQ and Qazaqstan Investment Corporation have established a co-investment platform focused on high-growth sectors such as food and...
- The investment platform will seek to explore and leverage investment opportunities in Kazakhstan as well as other countries in the Central Asia and Caucasus region
- As part of the initiative, ADQ and Qazaqstan Investment Corporation will be committed to making equal financial and operational contributions to each investment