‘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
Public-Private collaboration is crucial to tackling physical inactivity crisis: WFSGI CEO Emma Zwiebler
Emma Zwiebler, CEO of the World Federation of the Sporting Goods Industry (WFSGI), sat down exclusively with TRENDS at the...
Business
Opinion
ESG strategy of firms in Middle East must not derail
Winning firms are exploring innovative alternatives, guided by a strong sense of purpose and a flexible strategy. Disruption doesn’t demolish...
- Over the past few years, shifting investor and customer expectations cemented the importance of ESG in the corporate world, allowing it to withstand these kinds of shocks
- The ESG has become an explicit decision-making consideration for companies, rising to the level of finance concerns, risk, operational integrity, and customer impact
Business
Saudi Arabia appoints new crypto chief to further its digital program
The kingdom is the largest economy in the Middle East, making it a key market for any firm operating in...
- Until now, Saudi had shown a circumspect approach on virtual assets, as officials questioned the speculative nature of them.
- With the emergence of UAE as a global crypto hub, Saudi displayed urgency to draft formal rules pertaining to the asset class.
Economy
Dubai records over US$653m in realty transactions on Monday
DUBAI, UAE - Dubai real estate market recorded 568 sales transactions worth US$373 million (AED1.37 billion) on Monday, data released...
- Dubai real estate market recorded 568 sales transactions worth US$373 million on Monday.
- The sales included 503 villas and apartments worth US$283 million and 65 land plots worth US$88 million.
Business
ADNOC announces $548m contract for Lower Zakum field
Abu Dhabi National Oil Company (ADNOC) Monday announced the award of a US$548 million (AED2.01 billion) contract to build a...
- The award will increase the Lower Zakum field’s gas production capacity from 430 million to 700 million standard cubic feet per day.
- The project will see the construction of a new subsea pipeline that will run 85 kilometers from Zakum West Super Complex to Das Island.
Economy
Green hydrogen production in UAE to touch 5.7m tonnes in 2030
Innovative technologies to produce green hydrogen using clean and renewable energy are witnessing rapid developments and studies indicate that green...
- The UAE aims to acquire 25 percent of the low-carbon hydrogen market which is expected to reach more than $400 billion.
- The production of green hydrogen is mainly carried out through electrolysis using renewable energy sources.
Business
Saudi rebate program discussed at Venice festival
A seminar organized at the film festival discussed the kingdom's cash rebate program, which is aimed at attracting international producers...
- The officials said there is a high level of coordination between government agencies and the private sector to build the film industry.
- Last May, the Commission launched a cash rebate program to support films with up to 40 percent of the financial refund.
Economy
Saudi Arabian government body launches strategy 2022-2025
The National Center for Government Resources Systems (NCGR) launched its comprehensive strategy (2022-2025).
- The strategy is based on four main pillars which include raising the efficiency and effectiveness of the government in managing its resources.
- It also involves maximizing benefit of NCGR's resources, superiority in providing and using data to support decision-making, excellence in risk management.
Business
Saudi SMEs authority and Aramco center sign cooperation pact
Riyadh, Saudi Arabia—Saudi Arabia’s General Authority for Small and Medium Enterprises (Monsha'at), has signed a cooperation agreement with Aramco’s Center...
- The two sides will provide shared office spaces, financial grants, and business development and mentorship programs to enable SMEs to enter the market.
- Monsha'at works to organize, support and sponsor the small and medium enterprises sector in the Kingdom in accordance with best practices.
Business
FAB, Silver Birch announce partnership
They will offer inventory solutions to their local, international clients.
- This partnership enables FAB and Silver Birch to offer various inventory solutions to suit specific client needs.
- Silver Birch, headquartered in the UK, is a specialist working capital structuring, advisory and execution firm.
Economy
Dubai road-toll operator Salik’s IPO to sell 20% shares
According to its intention-to-float document, the company is selling 1.5 billion shares and the offer price will be confirmed on...
- According to its intention-to-float document, the company is selling 1.5 billion shares and the offer price will be confirmed on September 22
- The Salik electronic toll collection system was introduced in Dubai in 2007 to ease congestion in the regional trading hub
‘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
Company News
Latest News
$5.8bn worth deals signed in first four days of Dubai Airshow 2023
DUBAI, UAE – Tawazun Council signed 16 deals, worth US$1.3 billion (AED 4.87 billion), with local and international companies on...
Business
EPI to make assembly parts for Raytheon
EPI is part of the Platforms Systems cluster within EDGE.
Business
PIF seeks to increase stake in Egypt’s e-Finance by 2 percent
Riyadh, Saudi Arabia -- Ibrahim Sarhan, the Chairman and Managing Director of e-Finance for Digital & Financial Investments based in...
Business
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Business
Google launches new AI features for organizing photos
Washington, United States - Google said on Thursday that Google Photos now groups together similar photos and organizes screenshots and...
- Google Photos will automatically identify and group similar photos that were taken close together into Photo Stacks
- The company is also applying the technology to screen shots and important documents stored on a user's phone
Business
UAE awards EDGE $65m contract to supply unmanned aerial systems
Abu Dhabi, UAE – ADASI, the EDGE Group entity, a regional leader in autonomous systems and services, said on Thursday...
- Aimed at further advancing air operations, GARMOOSHA is an unmanned aircraft designed to carry payloads of 120kg with a range of 150km
- With a low-consumption fuel engine, its sensor capabilities make it a versatile system capable of solving some of the most difficult challenges
Alibaba shares dive more than 7% after cloud service called off
Alibaba is a key player in China's expansive digital economy and the operator of a major online shopping platform. The...
- The firm's stock dived 7.13 percent soon after the starting bell in Hong Kong, tracking a collapse in its New York-listed shares
- Washington has moved to bar the shipment to China of powerful chips, including those from California-based Nvidia