Rotana announces the soft opening of Dar Rayhaan in Saudi Arabia
Abu Dhabi, UAE – Rotana, one of the leading hotel management companies in the region with over 100 properties in...
Business
Business
India to host MotoGP for first time in 2023: organisers
India represents a key market to expand the sport, organizers said, citing a population of 1.4 billion people and more...
- The race is scheduled to take place at Buddh International Circuit in Uttar Pradesh, to the south of New Delhi
- The track has already played host to Formula One, staging three F1 grands prix between 2011 and 2013
Business
Qatar launches Tatween platform for job localization in private sector
Qatar has launched a forum, Tatween Platform, on job localization in the private sector, with the participation of representatives of...
- Services, tourism and hospitality, IT technology, finance, health and education, finance, health and education are some of the sectors involved.
- Tawteen platform provides a space and a dialogue platform for actors to exchange ideas and best practices in the field of job localization, labor minister Dr. Ali bin Saeed said.
Business
ACWA’s investments surge
The Saudi utility now boasts of $67bn investment portfolio.
- The company, which builds power and desalinated water plants, currently has 60 percent of its projects in progress and 40 percent in development stages
- According to its CFO, Abdulhameed Al-Muhaidib, it has invested $10 billion in the UAE renewable energy, water desalination, and clean gas projects,
Business
Qatar hopes to make US$17bn in profit from World Cup
The 2022 World Cup may prove to be a big windfall for Qatar as it hopes to make some $17...
- The CEO said that between 3 and 4 billion people around the world will watch the Qatar World Cup 2022
- He said that Qatar is expecting nearly one million people, including 12,000 from the media, during the World Cup
Business
Google to shut down cloud gaming service Stadia
Google said it will refund purchases of Stadia hardware, such as controllers, as well as game content bought through its...
- Xbox-maker Microsoft, meanwhile, offered a rival Game Pass service "with a ton of games," making it a more tempting option for players
- Microsoft recently announced that the ability to play Xbox games will be built into Samsung smart televisions in its latest cloud gaming move
Business
GCC investors park wealth in real estate: poll
A TRENDS poll on Twitter revealed that 43.9 percent of voters preferred real estate, followed by technology at 37.4 percent.
- The age range of the voters was 37.5 percent between 20 and 29 years, 42.9 percent for 30-39 years, 13.4 percent for 40-49 yrs, ad 6.3 percent for voters over 50 years old
- According to JLL, among the top fifty real estate markets worldwide, Saudi Arabia has remained stable, validated at the regional level
Business
Meta to freeze hiring to tighten budget: report
Big tech platforms have been suffering from the economic climate, which is forcing advertisers to cut back on marketing budgets,...
- Zuckerberg said during an earnings call that teams would shrink in order to "reallocate our energy" as it battled a turbulent economy and the rising phenomenon of TikTok
- Meta had long delivered seemingly endless upward growth, but reported early this year its first decline in global daily users
Business
Salik begins trading on DFM, after large investor interest
Dubai, UAE— Salik, Dubai toll operator, has listed on Dubai Financial Market under the name of "SALIK", after the offering...
- It is the third public offering and listing on the DFM in 2022 as part of the plan to develop financial markets in the country
- The strong demand toward the issuance prompted the company to raise the offered shares to 1,867,500,000 shares representing 24.9 percent of its share capital
Business
Morocco tells Adidas to withdraw Algeria jersey design
Taking offense at what it calls "cultural appropriation", Morocco has asked Adidas to cancel newly designed footfall tops for Algeria....
- Adidas released on Twitter a photo of the new 2022-2023 season kit for the Algerian national team it said was "inspired by culture and history"
- Morocco and Algeria have long been at odds over the disputed territory of Western Sahara, where the Algiers-backed Polisario Front is seeking independence from Rabat's rule
Business
Middle East plays well to become sports tourism hub
Major events such as Qatar World Cup 2022, Formula 1 Abu Dhabi Grand Prix, etc. will give Gulf tourism a...
- Major events such as Qatar World Cup 2022, Formula 1 Abu Dhabi Grand Prix, etc. will give Gulf tourism a boost in the last quarter of this year, according to a latest report
- Amongst the GCC countries, the UAE, Saudi Arabia, and Qatar will see the majority arrival of travelers mainly from Asia, Europe, the Americas, Africa, and the UK, the report added
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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
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Saudi pioneering solutions for water scarcity
The kingdom is forging partnerships with major corporations to revolutionize water technologies and achieve water self-sufficiency.
Analysis
PIF to invest in Alkhorayef Petroleum, secure 25% shareholding
Riyadh, Saudi Arabia — The Public Investment Fund (PIF) has formally announced the signing of a share subscription agreement to...
Business
ADIB lists $500m green sukuk on LSE
The bank marked the issuance of its $500 million green sukuk.
Business
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Business
Sustainability in style: UAE’s couture goes green
The UAE is shifting from Western influences to eco-friendly practices in its apparel market. 2023 marks the nation's commitment to...
- In the UAE, environmentally friendly, competitively priced, stylish, and high-quality products are increasingly being offered by brands
- They use organic cotton and other environmentally friendly materials like bamboo, hemp, and recycled polyester
Business
Al Ghurair to use Oracle solution
This will help HR teams improve business operations.
- Through this strategic collaboration, Al Ghurair seeks to empower its employees through self-service capabilities.
- Oracle Cloud HCM transforms the traditional functions of HR departments such as recruiting, training, payroll.
Business
GA-ASI partners with EDGE
The pact is aimed at integrating smart weapons into MQ-9B.
- The partnership marks the first time that UAE-made smart weapons will be integrated into a US unmanned platform.
- The EDGE smart weapons designated for integration include the DESERT STING family of GGWs and THUNDER family of cost-effective PGMs from HALCON.