China, Canada retaliate to Trump tariff war as markets fall
Washington, United States -- Mounting trade wars between the United States and its largest economic partners deepened Tuesday as huge...
Business
How cyber criminals steal cryptocurrency
Hackers from North Korea have become notorious for their sophisticated and relentless tradecraft, according to Chainalysis. Nearly 60 percent of...
Business
Economy
CBUAE issues commemorative coins on Tawazun’s 30th anniversary
The Central Bank of the UAE (CBUAE) in collaboration with the Tawazun Economic Council (Tawazun), has issued 1,000 silver commemorative...
- Tawazun was established in 1992 to create, build and manage industrial relationships.
- The issuance of the commemorative coins aims to highlight the vital role of Tawazun.
Business
Foxconn of Taiwan unveils more electric vehicle prototypes
The Taiwanese tech giant Foxconn has moved to diversify beyond electronics assembly and embraced the competitive but rapidly expanding EV...
- The world's largest contract electronics maker, Foxconn already plays a lynchpin role in assembling gadgets for a host of top international brands including Apple's iPhones
- Foxconn has also started building electric vehicles for Lordstown Motors after completing its purchase of a former General Motors plant in Lordstown, Ohio in May
Business
Aramco to build fabrication yards
The yards will more than triple Saudi offshore fabrication capacity.
- The new yards are being constructed in Ras Al Khair in collaboration with National Petroleum Construction Company (NPCC) and McDermott International.
- They are expected to fabricate and assemble offshore platforms, jackets and structures for subsea pipelines.
Business
QIB’s profit shoots up 13%
It reported $783m profit in the first nine months of the year.
- The bank's data showed an increase in earnings per share for the period ending on Sep. 30, 2022, to reach QR1.21, compared to QR 1.07 for the same period last year
- QIB carries out all banking, finance, investment and banking services in accordance with the provisions of Islamic Sharia
Business
Abu Dhabi Chamber to launch new digital platform
Abu Dhabi Chamber of Commerce and Industry (ADCCI) will launch a new platform for Abu Dhabi's business community in order...
- The Business Matchmaking Platform, which is currently going through the development phase, will enhance the experience of Abu Dhabi’s business community
- Members of Abu Dhabi Chamber will also be able to have a comprehensive overview of upcoming events and register for them, as well as access the latest data and insights
Business
FIFA praises Qatar’s reforms to improve living conditions of workers
Applauding Qatar's "groundbreaking reforms" that are "changing the lives of thousands of workers for the better," FIFA President Gianni Infantino...
- Amnesty International and other groups have demanded that FIFA set up a $450 million fund for migrant workers and their families who suffered during the decade of construction
- Officials also said on Monday that 30,000 extra hotel rooms had been added to the official accommodation platform to cater for late ticket sales
Analysis
Crypto betting sites on sports gain popularity as game prediction market grows across MENA
Crypto betting in sports has become a booming market due to the increasing number of sports fans and their desire...
- Crypto betting in sports has become a booming market due to the increasing number of sports fans and their desire to wager on athletes and tournaments
- There has been a rise in the number of betting sites accepting crypto and new blockchain-based betting sites
Economy
France braces for nationwide strike amid fuel shortage
Fuel workers voted to continue stoppages at several refineries run by TotalEnergies, the coordinator for the hard-left CGT union Eric...
- Leading unions have called for strikes Tuesday in their biggest challenge yet to President Emmanuel Macron
- The French government, increasingly impatient with striking workers, said it was forcing key staff back to work
Geostrategy
UAE, Chile ink pact to exchange knowledge on energy sector
UAE's Ministry of Energy and Infrastructure signed a Memorandum of Understanding with its counterpart in Chile to exchange knowledge and...
- Under the agreement UAE and Chile will exchange information, knowledge and expertise, hold high-level meetings to discuss issues.
- The two sides will organise relevant academic research and enhance their cooperation in clean and renewable energy.
Business
ADQ submits shareholding offer to ADA
ADQ aims to establish a diversified aviation services and MRO business.
- The combined group would have assets of approximately AED 9.4 billion ($2.6 billion) with an extensive portfolio of aircraft, MRO centers and hangars.
- Following completion, ADQ would own approximately 59 percent of the entire issued share capital of ADA.
China, Canada retaliate to Trump tariff war as markets fall
Washington, United States -- Mounting trade wars between the United States and its largest economic partners deepened Tuesday as huge...
Business
Company News
Latest News
Najm inks pact with iot squared
Business
Mumtalakat, Investcorp ink pact
The firms have jointly launched a climate investment platform.
Business
ACWA Power launches Phase I of green hydrogen project in Uzbekistan
Riyadh, Saudi Arabia -- Saudi renewables giant ACWA Power has said it launched the first phase of green hydrogen project...
Business
TAMM partners with AI71 to use UAE’s Falcon series LLMs
TAMM becomes first to use UAE’s Falcon large language models.
Business
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Business
Tech-empowered shoppers drive Saudi consumer behavior: PwC
Riyadh, Saudi Arabia -- Saudi Arabian consumers are navigating the market with heightened awareness, becoming better-informed buyers, according to the...
- Saudi consumers increasingly rely on smartphones and connected devices to compare prices both online and in-store.
- Brand websites are a trusted source, influencing 65% of survey participants, emphasizing the significance of the online shopping experience.
Business
Tech titan Microsoft wins observer seat at OpenAI
SAN FRANCISCO, US - Microsoft, the tech titan that has invested billions of dollars in ChatGPT creator OpenAI, has been given...
- The nomination was shared in a memo to OpenAI staff that was later posted to the company's blog.
- Microsoft will join former US Treasury Secretary and political power broker Larry Summers, who was added last week.
Business
58% of firms in Saudi Arabia plan to outsource cybersecurity
RIYADH, SAUDI ARABIA - Company bosses are boosting their cybersecurity following an alarming increase in cyberattacks, a new study commissioned...
- A survey gathered information about people who influence cybersecurity, looking at both internal staff, and external actors.
- The survey also analyzed levels and types of online safety company bosses believed warranted investment.