Abu Dhabi Chamber sets up working group to support startups, SMEs
ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for...
Business
Aramco CEO terms energy transition strategy a failure
Speaking at the CERAWeek conference in Houston, Saudi Aramco Chief Executive Amin Nasser said that the current transition strategy is...
Economy
Business
Riyad Bank to offer sukuk
The bank offering will be denominated in Saudi riyals.
- Investors, according to the bank, shall subscribe to a minimum of $66,533, with a return rate yet to be determined
- Riyad Capital will act as the sole lead manager and book runner for the potential Tier 1 capital sukuk offer
Economy
Energy majors exaggerating green performance: analysis
Campaigners say this "significant misalignment" between communication strategies and business plans could allow five of the biggest privately-owned energy firms...
- Public communications of five energy majors were found to contrast with their planned capital expenditure for 2022
- The analysis found that Shell had the largest disparity between its green talk and actual low-carbon investment
Business
UAE to deepen collaboration with India in education sector
The UAE has agreed to deepen collaboration with India in the field of education, and in this regard the two...
- An original MoU was signed in 2015 between India and the UAE in the field of education, but it expired in 2018
- It is expected to rejuvenate educational cooperation and increase academic mobility between India and UAE, besides facilitating exchange of information
Opinion
Investing in HR technology crucial for small companies
A cloud-based HR platform can help HR teams automate and streamline business processes to focus on attracting and nurturing talent....
- For any small and medium business, a modern human resources platform can be a powerful tool for transforming the acquisition, engagement and management of people
- A cloud-based HR platform can help HR teams automate and streamline business processes to focus on attracting and nurturing talent beside automating repetitive activities
Business
After Italy, US now returns antiquities to Egypt
A day after it returned dozens of antiquities to Italy, United States has now returned 16 antiquities worth $16 million...
- Nine of the pieces had been in the possession of Michael Steinhardt, described as one of the world's largest collectors of ancient art
- In 2021, Steinhardt was forced by US authorities to return 180 stolen ancient artworks worth a total of $70 million
Business
Saudi NDF to finance $89m program to boost games, esports
Riyadh, Saudi Arabia---Saudi Arabia's National Development Fund has announced a program to fund the games and electronic sports sector with...
- The program will be launched by the end of this year in cooperation with Saudi Federation for Electronic Sports and the Ignite.
- It aims to provide products and financing solutions through the development funds and banks affiliated with the Fund in partnership with private sector financial institutions.
Business
Khalifa Fund to launch e-commerce program for entrepreneurs
Abu Dhabi, UAE-- Khalifa Fund for Enterprise Development has officially announced the launch of the E-Commerce Acceleration Programme, a training...
- The programme aims to help deliver results that impact the entrepreneur's bottom line, generate profit, expand their brand's exposure and improve customer engagement.
- The five-day training will take place on the 21st, 22nd, 28th, 29th September, and 4th October.
Business
Mubadala to buy Fortress
The Abu Dhabi fund will buy it from SoftBank for $2bn.
- The PIF-backed SoftBank Group acquired Fortress in 2017 intending to use the New York-based company's expertise to aid in managing its Vision Fund
- The reports said the Abu Dhabi sovereign fund could announce an agreement in the coming weeks
Business
Juul to pay US$438m in US over marketing vapes to youth
Under the agreement, Juul would provide payments over the next 6-10 years to individual US states and pledge to not...
- Juul has been blamed for a surge in youth vaping over its marketing of fruit and candy flavored e-cigarettes, which it stopped selling in 2019
- On June 23, the FDA said it was ordering all products made by Juul Labs off the market after finding the vaping giant had failed to address certain safety concerns
Business
US returns stolen antiquities worth US$19m to Italy
US has returned dozens of antiquities stolen from Italy and valued at around $19 million, some of which were found...
- The District Attorney's office said the stolen items had been sold to Michael Steinhardt, one of the world's leading collectors of ancient art
- Among the recovered treasures, which in some cases were sold to "unwitting collectors and museums," were a marble head of the Greek goddess Athena from 200 B.C.E.
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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
Abu Dhabi Chamber sets up working group to support startups, SMEs
ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for...
Business
Company News
ADCB prices $650m green bond
Business
Latest News
OpenAI sees a future of AI ‘superpowers on demand’
Dreams of the benefits of generative AI -- along with fears of the technology's risks -- have been hot topics...
COP28 huge moment for world and UAE: UK Economic Secretary to Treasury
Dubai, UAE-- Describing the COP28 as a huge moment for the world and the UAE, Andrew Griffith, Economic Secretary to...
Business
Most Read
Economy
$10 trn of ‘hidden costs’ on food and agriculture system per year, says UN
Paris, France - The food and agriculture system adds at least $10 trillion in "hidden costs" to the global economy every...
- The Food and Agriculture Organization said it conducted an analysis in 154 countries to determine the "true" cost of the agrifood system.
- The global quantified hidden costs totaled around $12.7 trillion in 2020, representing almost 10 percent of the global gross domestic product.
Economy
Expat remittances in Saudi Arabia fall to $2.6bn in September
RIYADH, SAUDI ARABIA - Remittances by expatriates in Saudi Arabia dropped 13 percent year-on-year (YoY) to US$2.6 billion (SAR 9.9...
- On a month-on-month (MoM) basis, expat remittances in the Kingdom declined 8 percent, or US$229 million.
- Remittances by Saudi nationals to other countries also fell 11 percent YoY to US$1.2 billion in September.
Business
First SAF-powered Emirates flights cleared for take-off from Dubai
Dubai, UAE -- The first Emirates flights operating with sustainable aviation fuel (SAF) provided by Shell Aviation have taken off...
- Emirates’ flight EK 412 bound for Sydney on 24th October was among the first to operate with SAF.
- Shell has supplied 315,000 gallons of blended SAF for use at the airline’s hub in Dubai.