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
Alibaba Cloud opens training center in Dubai
It will be a hub for customers to lift up "digital competence."
Business
Business
German govt to relook huge gas levy amid outrage
German ministers vowed to reexamine a planned gas surcharge imposed on consumers after it emerged that some energy companies seeking...
- The levy, to be imposed from October 1, had been grudgingly accepted as a compromise to help prevent the energy market from collapsing.
- The levy sparked outrage after it emerged that some energy firms which have doubled their revenues in H1 2022, have registered to receive a share.
Business
South Korea wins $2.2bn order in Egypt’s first nuclear plant
The Korea Hydro & Nuclear Power Co. won a contract with Russia’s state-owned Rosatom in the project. The state-owned Korean...
- El Dabaa plant, with a capacity of 4,800 MW, is Egypt’s first nuclear plant and would be constructed at an estimated cost of $28.75 billion.
- The contract stipulates that Rosatom will not only build the plant, but will also supply Russian nuclear fuel for its entire life cycle.
Geostrategy
Turkey plays down US sanctions threat over Russia ties
Turkey's finance minister told businesses on Friday they should not be concerned by the threat of sanctions that Washington warns...
- The value of Ankara's trade with Moscow shot up by nearly 50 percent between May and July this year as NATO member Turkey has refused to join the international sanctions.
- US Deputy Secretary of the Treasury had warned Turkish banks and companies they would face secondary sanctions if they cooperated with sanctioned Russians.
Business
Facial recognition helps GCC banks verify, curb frauds
The new technology is the most accurate form of identity verification since biometric data is incredibly hard to fake or...
- The new technology is the most accurate form of identity verification since biometric data is incredibly hard to fake or replicate, and faces cannot be lost, says an expert
- Facial recognition also aids in post-fraud proceedings and fraud prevention, allowing the bank to divert resources into other areas adds Anton Nazarkin of VisionLabs
Business
Maaden to supply phosphate, ammonia to four Indian firms
The Saudi Arabian Mining Company, Maaden, Thursday signed four memoranda of understanding with Indian fertilizer companies to supply phosphate and...
- The company signed MoUs with top Indian companies, under which they will discuss ways to enhance joint cooperation in various fields of growth,
- Ma'aden today exports about 1.7 million tons of phosphate and ammonia products to the Indian market annually.
Geostrategy
Jordan, GCC countries discuss higher education cooperation
Joint Jordan-Gulf Cooperation Council (GCC) working group on the higher education held talks on cooperation and exchange of expertise at...
- The meeting decided that the Jordanian side would draft executive programs and memoranda of understanding (MoU).
- The programs would prioritize areas of academic, student, research collaboration and expertise exchange.
Business
Saudi to provide multiple entry visas for tourists during world cup
The move comes as Qatar, which has a population of 2.8 million, tries to accommodate an expected 1.2 million visitors...
- People with a Hayya Card, reserved for ticket-holders and used to access Qatar during the tournament, will be able to apply for the electronic visas.
- The Gulf power shares a land border with gas-rich Qatar, which is hosting the first World Cup in the Middle East and the first held in winter months.
Business
Bahri, stc sign logistics deal
Customs clearance assistance is part of the agreement.
- The stc group has operations in Saudi Arabia, Kuwait, Bahrain, and Oman.
- The contract was signed by Soror Basalom, President of Bahri Logistics and Ali Alhudhayf, Acting VP of Human Resources and Logistics Support at channels by stc.
Business
Abu Dhabi to launch blockchain, virtual assets strategy
The Abu Dhabi Blockchain and Virtual Assets Committee (ADBVAC) held its first meeting under the chairmanship of Mohamed Ali Al...
- The Abu Dhabi Blockchain and Virtual Assets Committee has been formed to look into various aspects of the field
- The committee comprises representatives of major entities and stakeholders active in this field
Economy
ENEC hosts top performing students from Al Dhafra region
The Emirates Nuclear Energy Corporation (ENEC) has hosted a recognition ceremony at the Barakah plant for top-performing students from the...
- The hosting of students reflects ENEC's stand to provide UAE youth with skills to become future leaders of the nation's growing nuclear energy sector.
- The event include an educational tour for students to visit Barakah Plant, the first multi-unit operational nuclear plant in the Arab World.
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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
Company News
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Lavoie buys e-bike firm VanMoof
Business
DEWA discusses cooperation in renewable energy with German delegation
Dubai, UAE-- Dubai Electricity and Water Authority (DEWA) has held discussions with a delegation from Germany on how to boost...
Business
‘Business-based peace initiatives to ease tensions’
The Ukraine-Russia conflict and Gaza crisis are impacting investor confidence and economies in Jordan, Egypt, and Israel, Iyad Malas, CEO...
Interview
Most Read
Business
Disney to buy stake in Hulu
It will acquire Comcast's US$8.6 billion stake in Hulu.
- The acquisition will "further Disney's streaming objectives," the company said in a press release
- The deal values Hulu at $27.5 billion in total, and the transaction will be concluded by December 1
Business
Middle East conflict alters regional energy dynamics
Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact...
- Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact of geopolitics on energy security.
- Achieving peace in the Middle East region is crucial, not just for the well-being of its people but also for maintaining global economic stability and energy security.
Business
Drought forces Panama Canal operator to cut ship traffic
Panama City, Panama - The operator of the Panama Canal, the passageway for cargo ships between the Atlantic and Pacific oceans,...
- Traffic will be reduced to 25 ships a day from Friday, down from 29, and will drop to 18 ships a day by February, the Panama Canal Authority said
- The 50-mile (80-kilometer) long waterway provides direct access between the Atlantic and Pacific oceans, bypassing the South American continent