Yen plunges to 34-year low, mixed results for equity markets
Hong Kong, China - The yen plunged Wednesday to a 34-year low against the dollar after a top Bank of Japan...
Business
SeaWorld Yas Island, Abu Dhabi wins Guinness World Records
ABU DHABI, UAE – SeaWorld Yas Island - the region’s first Marine Life Theme Park here -, has won a...
Arts & Culture
Business
UAE to allow multiple-entry visas for Qatar World Cup fans
The facility will be available for the holders of the "Hayya" card issued by FIFA World Cup Qatar 2022, which...
- Qatar has a population of 2.8 million and it tries to accommodate an expected 1.2 million. Saudi Arabia also has announced multiple-entry visas for fans.
- This visa can be extended for another 90 days according to the conditions, procedures and the normal fees followed in the current visa system in the UAE.
Business
DMCC welcomes 15 companies for training program
Dubai Multi Commodities Centre (DMCC), the Government of Dubai Authority on commodities trade and enterprise, has announced that 15 companies...
- The program will support the growth of impact-driven businesses that align with the United Nations Sustainable Development Goals.
- The program is a part of the DMCC’s wider Environmental Social Governance strategy
Business
Museum of the Future’s online store creates global connections
Dubai, UAE - The Museum of the Future has been connecting with people globally through its online store, offering memorabilia...
- The store offers memorabilia inspired by the museum’s design and exhibits, and gives a glimpse into its rich experiences.
- The museum contains products designed in innovative, artistic ways that reflect the spirit of the museum and its values.
Infographics
UAE offers low-risk business climate
Unstable political conditions in several Arab countries make them high- or extreme-risk places for businesses.
- Country risk assessment is the process of determining a nation's ability to transfer payments.
- It takes into account political, economic and social factors. It is used to help organizations make strategic decisions when conducting business in a country with excessive risk.
Geostrategy
What can Europe do to fight soaring power bills?
European leaders want to break the link between soaring gas prices and electricity bills, a wholesale reform of the EU...
- Electric power can't be stockpiled, unlike natural gas, so production and use must constantly be balanced.
- In the EU, electricity pricing is determined by the cost of the last energy source employed to respond to demand - often a gas-fired power plant
Business
DEWA ranks as 3rd most valuable utility brand in Middle East
Dubai Electricity and Water Authority (DEWA) has been ranked the third most valuable utility brand in the Middle East and...
- Dubai Electricity and Water Authority has been ranked the third fastest growing brand in the UAE
- The report said that the remarkable success of DEWA's IPO in H1 2022 was also due to the strength of the utility's brand
Business
India’s Adani becomes world’s third-richest person
The self-made billionaire has seen his net worth more than double to $137.4 billion in the last year, rising 20...
- Prince Alwaleed bin Talal Al Saud, the founder of Kingdom Holding, a conglomerate with stakes in hotels, real estate and equities, is the only Arab billionaire among the top 100.
- Egyptian tycoon Nassef Sawiris (net worth $7.06 bn), MA Yusuff Ali (UAE, $5.87bn) and Muhammed Al Amoudi (Saudi Arabia, $5.78 bn) are the other Arabs in the list of 500.
Business
Hub71 picks latest cohort of tech startups from nine countries
Hub71, Abu Dhabi's global tech ecosystem, has selected its latest cohort of tech startups from a large number of applicants...
- The startups range from FinTech, HealthTech and CleanTech to EdTech, FoodTech and Logistics.
- They will benefit from equity-free incentives worth up to $136,000)and access to enabling programmes and an ecosystem of active investors.
Business
Tibbiyah buys stake in rival firm
It bought 51% stake in Innovative Care for $57 million.
- Innovative Care, the Riyadh-based medical firm, operates New You Medical Center
- New You, set up in 2016, is a center specializing in cosmetic and reconstructive surgeries, supported by its pharmacy services provider iPharma
Business
Musk subpoenas Twitter whistleblower in new twist to court battle
According to court documents made public on Monday, Musk's attorneys served Zatko with a subpoena Saturday demanding he share any...
- Tesla boss hopes that allegations made by the former Twitter security chief Peiter Zatko, about major security gaps and problematic practices at the firm, will bolster his case
- Peiter Zatko was also ordered to answer questions on the record for Musk lawyers on September 9
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
Yen plunges to 34-year low, mixed results for equity markets
Hong Kong, China - The yen plunged Wednesday to a 34-year low against the dollar after a top Bank of Japan...
Business
Company News
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Energy, commodity prices hurt profits of GCC firms
Market Report
Elon Musk’s xAI to release first AI model to ‘select group’
WASHINGTON, US - Elon Musk said his new artificial intelligence company would release a new AI model on Saturday to a...
Business
AMF, State Bank of Pakistan to enhance cross-border payments
Abu Dhabi, UAE -- The Arab Monetary Fund (AMF) and the State Bank of Pakistan (SBP) have signed an MoU...
Business
Most Read
Apple sales lose ground
The tech giant said it made a profit of $23 billion.
- The tech giant said it made a profit of $23 billion on revenue of $89.5 billion, which was down slightly from the same period last year
- Apple chief executive Tim Cook said iPhone sales set a new record for its September quarter while money taken in from services hit an all-time high
Market Report
Gulf markets tumble amid rising geopolitical concerns
As the Gaza conflict intensifies, GCC equity markets face significant downturns, with Qatar leading the losses, while Saudi Tadawul secures...
- As the Gaza conflict intensifies, GCC equity markets face significant downturns, with Qatar leading the losses, while Saudi Tadawul secures year-to-date gains, says a report.
- Qatar Stock Exchange plans to shorten settlement cycles to reduce risk as Kuwaiti benchmarks and Abu Dhabi's FTSE ADX index falter, while Dubai market's positive run halts.
Business
Ducab, Somagec ink MoU
The MoU will enable UAE-based firm to enter Angolan market.
- Ducab Group already supplies its “Made in the UAE” products to 15 countries in Africa.
- It is constructing over 400 kilometers of 220kV transmission lines in Angola.