‘Middle East is a promising area with a lot of initiatives going on in the UAE, Saudi Arabia’
Beyond AI, new technologies will leverage artificial intelligence to drive the next phase of the Fourth Industrial Revolution, Alphaeus Hanson,...
Economy
Opinion
Kubernetes simplifies container use in the Middle East
With Kubernetes, regional enterprises have automated their deployment, managment and scaling of containerized applications. Since it is controlled by developers...
- With Kubernetes, regional enterprises have automated their deployment, management and scaling of containerized applications.
- Since it is controlled by developers and not infrastructure teams, there is a better understanding that ultimately leads to high quality results
Business
Loan exemptions: GCC’s way to help individuals, firms
The Gulf countries assist loan defaulters by delaying payments or exempting those who can't pay to save emerging companies and...
- The Gulf countries assist loan defaulters by delaying payments or exempting those who cannot pay to save emerging companies and prevent their accumulation of financial burdens
- Loan exemptions in sectors such as housing, health, marriage and investments are estimated to be in millions of dollars across the region
Business
‘Jordan not affected by India’s decision to restrict rice exports’
President of Foodstuff Traders Association (FTA), Khalil Haj Tawfiq, said India's decision to restrict its exports of some rice varieties...
- India's decision will not affect availability of rice in Jordan's local market, neither hike its prices.
- The decision of banning export of certain varieties of rice are not imported by Jordanian traders.
Science
World Green Economy Summit 2022 theme revealed
Dubai Electricity and Water Authority (DEWA) and the World Green Economy Organization (WGEO) announced that the theme of the 8th...
- The theme reflects the UAE’s vision of advancing climate action and strengthening partnerships.
- It also reflects international efforts to achieve climate goals.
Business
Crypto firm Blockchain.com set to operate in Dubai
According to the company, it has signed an agreement with Dubai's Virtual Assets Regulatory Authority (VARA) and will soon open...
- According to the company, it has signed an agreement with Dubai's Virtual Assets Regulatory Authority (VARA) and will soon open an office in the region and hire staff
- As economic competition heats up in the Gulf region, the UAE is developing virtual asset regulation to attract new forms of business
Business
Whistleblower payment is latest Musk reason to drop Twitter deal
A termination letter sent to Twitter accused the firm of not informing him about a multi-million dollar severance payment it...
- Musk's lawyers argued that failing to seek his consent before paying Zatko provides another legal basis to break the merger deal with Twitter
- Musk has been locked in a bitter legal battle with Twitter since announcing in July that he was pulling the plug on the purchase of the company
Business
Mubadala, TAQA Group to invest in power sector in Uzbekistan
The binding agreements will see Mubadala and TAQA each acquire a 40% stake in two gas-fired power plants.
- The binding agreements will see Mubadala and TAQA each acquire a 40% stake in two gas-fired power plants
- The agreements follow the 2020 agreement with Uzbekistan’s Ministry of Investment and Foreign Trade
Business
Aramco sets new profit record.
The Saudi firm made $279.4bn in profit in 12 months.
- The figure is equal to the combined profits of Apple, Google’s parent company Alphabet, and Microsoft
- Apple, the leader among global companies in terms of market capitalization, ranked second in the profitability index, with profits of $120.5 billion during the 12 months
Business
Ukraine rebuilding to cost US$350bn: report
It will cost some $350 billion to rebuild Ukraine from the devastation caused by the Russian invasion, according to a...
- The report estimates that $105 billion will be needed to address urgent needs such as restoring education and health systems and infrastructure
- Ukraine Prime Minister Denys Shmyhal said reconstruction already was underway in the de-occupied territories but will require help from international partners
Business
Qatar tests US$675m stadium with first sellout crowd
Almost two months before the start of World Cup, Qatar put the $675 million stadium, the venue for the final,...
- The stadium, shaped like a traditional Arabic bowl, is at the heart of a new city being built north of the tiny Gulf state's capital
- FIFA president Gianni Infantino has said it will be the "best-ever" World Cup and that foreign fans will have an experience like a "child going to Disneyland for the first time"
Company News
Latest News
DAE closes $1.6 billion loan
Business
UAE holds 19% of global sustainable bonds, says Fitch Ratings
DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues...
Business
Dubai Customs logs 13% growth in transactions in first nine months of 2023
DUBAI, UAE – Dubai Customs has experienced a robust 13 percent increase with 21.6 million transactions during the first nine...
Economy
AJEX, MODON sign partnership
AJEX will have rights to operate warehousing facilities at Modon.
Business
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Business
Big tech firms have been fined billions, but not paid them
PARIS, FRANCE - Rarely a month goes by without big tech companies getting fined for price fixing, squashing competitors or misusing...
- Ireland's data regulator confirmed that Meta has not paid any of the US$2.2 billion in fines issued since last September.
- Amazon is still appealing against a US$812 million fine from 2021, Luxembourg's data regulator said.
Economy
EDB pledges to expand UAE’s renewables market through easy financing
Dubai, UAE-- With its financing packages for the renewables sector to support the transition to clean and sustainable energy sources,...
- EDB CEO Ahmed Mohamed Al Naqbi said the bank through its financing can help businesses switch to solar-power to reduce emissions
- The bank can offer up to 100% financing with a maximum tenure of 15 years and a two-year grace period for investments in renewable energy
Opinion
AI, NLP transform business operations in Gulf region
AI and NLP are revolutionizing workplace efficiency by enabling employees to swiftly access essential information, thereby augmenting customer and personal...
- AI is creating a 'frictionless' work environment, streamlining daily operations.
- Invisible apps provide seamless integration, enhancing employee efficiency.