Alibaba Cloud opens training center in Dubai
It will be a hub for customers to lift up "digital competence."
Business
Business
Raya CX, Zain Saudi sign pact
Raya CX will provide outsourcing services to Zain Saudi Arabia.
- RAYA CX operates through three branches in Bahrain, Saudi Arabia, and the United Arab Emirates.
- The partnership reinforces Zain commitment to providing best customer experience, said Sultan bin Abdulaziz Al-Daghthir, CEO of Zain Saudi Arabia.
Business
ALEC Energy, Stantec sign deal
They will enable firms to achieve UAE Energy Strategy goals.
- Under the agreement, the two companies will jointly work on projects to establish best practices in buildings design, systems and services.
- Both companies will also jointly share knowledge with the industry and sponsor events, training programs and workshops with industry stakeholders.
Business
SEC’s profit fell to $1.9bn in H1
The Saudi utility firm's sales however surged to $8.80bn.
- The company however made $8.80 billion in sales during the period, up from $8.53 billion in 2021, propelled by rising demand for electric power
- The utility saw its shares lose 1.9 percent to SR26 in early trading
Business
APICO posts 29% profit increase
It will proceed with an IPO of 20 percent of its capital on Nomu.
- The plastic manufacturer reported an increase in revenue to $31 million during the year
- The book-building period will be led by Yaqeen Capital and shall start on September 11 and end on September 13
Business
Vodafone agrees to sell Hungary unit for 1.8 bn euros
The London-listed giant added in a statement that the proposed sale would create Hungary's second largest fixed-line and mobile telecoms...
- A Vodafone spokesman said proceeds will be used to deleverage its balance sheet, or cut debt, as it looks to build scale in other markets
- European heavyweight Vodafone, which has been restructuring for several years, expects the sale to complete at the end of 2022
Business
Unified financial network set to boost Gulf economies
GCC countries are accelerating economic integration by activating the financial links between companies, banks, and stores to make life smoother...
- GCC countries are accelerating economic integration by activating the financial links between companies, banks, and stores to make life smoother for citizens and residents
- The Central Bank of Saudi Arabia recently launched a point-of-sale service between its national payments network "Mada" and the Qatar national network "NAPS"
UAE investments in Egypt rise by 169% in 6 months
In a statement, CAPMAS said that the value of the trade exchange between Egypt and the UAE increased to about...
- In a statement, CAPMAS said that the value of the trade exchange between Egypt and the UAE increased to about US$1.2 billion
- The value of remittances from Egyptians working in the UAE rose by 1.4 percent, reaching US$3.5 billion during the 2020-2021 fiscal year
Business
Flyadeal adds A320neo to fleet
It raises Saudi low-cost airline's fleet strength to 26.
- The new Airbus aircraft made its first landing in the kingdom at King Abdulaziz International Airport in Jeddah
- The CEO said that the fleet expansion will contribute to increasing the number of flights, providing more seats, and serving new customers
Business
Dubai Media Inc affiliated to Dubai Media Council
In his capacity as the Ruler of Dubai, Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister, has...
- Sheikh Mohammed issued a decree appointing Sheikh Hasher bin Maktoum bin Juma Al Maktoum as Chairman of DMI.
- DMI has a strategy will leverage the expertise of a young and talented Emirati workforce to make the leap in delivering quality media content
Business
Pegasus spyware firm to focus on NATO countries, CEO to step down
The indebted, privately owned company also said it would focus sales on countries belonging to the NATO alliance. In July...
- CEO Shalev Hulio will step down and the firm's chief operating officer Yaron Shohat will now "take the lead" and manage the reorganisation process,
- Pegasus spyware is used to infiltrate mobile phones and extract data or activate cameras or microphones.
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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
Alibaba Cloud opens training center in Dubai
It will be a hub for customers to lift up "digital competence."
Business
Company News
Alantra sets up base in DIFC
Business
Lego first half profit dips 17%
Business
Latest News
Investors eye gold as safe haven amid Gaza tensions
The ongoing Gaza conflict has driven gold prices over $2,000/oz, highlighting the deep connection between geopolitical tensions and global financial...
Business
NMDC, AD Ports Group ink MoU
The firms will continue to work closely on future global projects.
Business
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Business
Dubai records realty deals worth $116 billion in nine months
Dubai, UAE -- Dubai recorded 116,116 real estate transactions worth AED 429.67 billion ($116.98 billion) during the first nine months...
- The transactions marked a 36.7 percent in value and 33.8 percent in the number of transactions compared to the same period in 2022.
- A total of 81,669 investors registered 109,186 real estate investments worth AED 278.7 billion, a growth of 50.3 percent in value.
Geostrategy
Bilateral trade in 2023 to overtake 2022 figures, says Canada’s envoy to UAE
ABU DHABI, UAE - Trade between the two countries is on an upswing with volumes this year expected to surpass...
- Trade between the UAE and Canada, worth US$4.1 billion in 2022, surpassed the 2021 figure of US$3.4 billion (AED12.7 billion).
- Bilateral trade to the tune of US$1.8 billion in H1 2023 (January to June) exceeded the US$1.7 billion worth of trade in H1 2022.
Business
Firms listed on Qatar Stock Exchange post 9M profit of $10.27bn
Doha, Qatar -- Companies listed on the Qatar Stock Exchange have reported a net profit of QR 37.42 billion ($10.27...
- According to figures published on QSE website on Tuesday, Industrials declined by 40.90 period with QR 7.005 billion in net profit to top the declining sectors.
- Net profit of Insurance was the highest with QR 853.744 million, a rise by 334.92 percent, followed by Telecoms which achieved an increase of 26.42 percent.