Davos2025: 33 industrial clusters from 16 countries commit to economic growth, jobs creation and emissions cuts
The Transitioning Industrial Clusters initiative aims to improve collaboration and develop a shared vision among co-located companies and public institutions,...
Economy
Social media’s evolving role in GCC spotlighted at Doha conference
Doha, Qatar – The Qatar Investment and Innovation Conference, held on Wednesday, at Barahat Msheireb in Msheireb Downtown Doha, brought...
Business
Dubai records weeklong real estate transactions worth $2 billion
Dubai, UAE--Dubai's real estate market recorded a total of 2.593 transactions worth AED7.4 billion ($2 billion) during the week ending...
- The statistics showed that 320 plots were sold for AED1.75 billion, and 1,720 apartments and villas were sold for AED3.55 billion.
- The top three transactions were land in Saih Shuaib 3 that was sold for AED168 million, land for AED115 million in Island 2, and land sold for AED78 million Saih Shuaib 4.
Business
UAE Innovates Month: 19 Dubai Customs innovations win awards
Dubai, UAE--The number of innovations at Dubai Customs have been significantly increasing, as shown by the department's Innovation League, which...
- Nineteen of the innovations won team awards, three at the department level and one champion of the Innovation League.
- Innovation League is Innovation Centre's leading initiative to stimulate and encourage competition between departments and employees to develop more innovations.
Business
Google’s immersive Street View could be glimpse of metaverse
There was not yet talk of online life moving to virtual worlds when a "far-fetched" musing by Google co-founder Larry...
- The internet behemoth is introducing an "immersive view" that fuses Street View images with artificial intelligence to create "a rich, digital model of the world
- Facebook renamed its parent company to Meta last year to emphasize its virtual reality vision, and opened Horizon World virtual reality platform to the North American public
Business
US raids properties of sanctioned Russian billionaire: media
Federal agents and local police officers were spotted carrying boxes after they left an apartment in Manhattan's lavish Park Avenue...
- Authorities are also searching a property on Miami's Fisher Island believed to be linked to Vekselberg, NBC reported
- Vekselberg is the head of the Renova Group, a Moscow-based conglomerate, and one of several wealthy Russians who have been targeted by sanctions
Business
Starbucks names outgoing Reckitt leader as next CEO
Narasimhan, who was most recently chief executive of Anglo-Dutch multinational Reckitt, will relocate to Seattle from London and join Starbucks...
- The transition comes as Starbucks navigates a burgeoning US unionization push following a difficult stretch for workers during Covid-19
- Neil Saunders, analyst at GlobalData Retail, said the appointment was a "good move" in light of  Narasimhan's record in overseas markets
Business
Twitter starts trial of edit option after months of speculation
The trial of "Edit Tweet" will begin with internal employees, then be expanded out to the platform's "Twitter Blue" subscription...
- Tesla Chief Executive Elon Musk, who is locked in a lawsuit with Twitter, had backed an edit button
- A Twitter spokesperson said the test will not necessarily be employed universally on the platform
Business
Saudi economy pins hope on female entrepreneurs
Saudi women, who had begun with small projects, are now creating startups and setting up factories, highlighting drastic change in...
- Saudi women have achieved exceptional success through entrepreneurship, particularly with the change in the business environment.
- The goals of Vision 2030 are not limited to increasing entrepreneurship but also increasing women's participation in economic fields.
Business
Work begins on world’s first model of green steam cracking unit
Riyadh, Saudi Arabia--SABIC, BASF and Linde have begun work on the construction of the world's first model of an electrically...
- The new technology relies on the use of electricity from renewable sources instead of natural gas, which can reduce carbon emissions of the process by 90 percent.
- The fully electric heating unit will be integrated into one of the existing steam crackers at BASF's Verbund site in Ludwigshafen, Germany.
Business
ADNOC’s first shipment of low-carbon ammonia leaves for Germany
Abu Dhabi, UAE:Â Abu Dhabi National Oil Company (ADNOC) announced on Thursday that its first shipment of low-carbon ammonia has...
- The demonstration cargo will be delivered to Aurubis, a leading global provider of non-ferrous metals and one of the largest copper recyclers worldwide.
- Aurubis plans to utilise the low-carbon ammonia as a feedstock in its wire rod plant, testing its application as an additional, lower-carbon energy source for industrial use.
Business
Markets volatile, world economy likely to grow 3.2% in 2022
As the world economy struggles to recover from the after-effects of the pandemic, financial markets are more volatile than ever.
- Global investors need to factor in how demand and supply chains will impact trade around the world
- The ongoing stop-and-start recovery from COVID has also disrupted global supply chains, leading to more instability in economies all around the globe
Davos2025: 33 industrial clusters from 16 countries commit to economic growth, jobs creation and emissions cuts
The Transitioning Industrial Clusters initiative aims to improve collaboration and develop a shared vision among co-located companies and public institutions,...
Economy
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Saudi Arabia, CARICOM countries hold first summit for strategic partnership
RIYADH, SAUDI ARABIA - Since its foundation, the Kingdom has been keen to build bridges of communication with all the...
Geostrategy
EDGE to supply metallic machined parts to Boeing
Abu Dhabi, UAE – EDGE, an advanced technology group specialising in precision engineering in the UAE’s aerospace, oil & gas,...
Business
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Economy
Iran and Russia diplomats hold discussions on BRICS
Tehran, Iran--Senior Iranian and Russian diplomats held talks in Tehran to discuss the BRICS group and its fields of activities...
- The Iranian sides reiterated the Islamic republic's commitment to playing an "effective and constructive role in it" and resolved to participate in all activities in the grouping
- The Russian delegation enumerated the country's priorities in regard to BRICS during their presidency and presented a briefing on the history and background of the group's actions
Business
Indian film company to operate cinemas in Saudi Arabia
Dubai, UAE - Mukta A2 Multiplex WLL, the international subsidiary of Mukta Arts, one of India's leading film production houses,...
- We are thrilled to contribute our expertise and commitment to delivering top-notch entertainment within the region, Rahul Puri, MD, said.
- Puri added that their strategy revolves around contractual agreements geared toward providing superior management and operational services
Business
Sharjah Civil Aviation Department and WFP sign aviation-safety agreement
Sharjah, UAE--The Sharjah Civil Aviation Department (SCAD) and the United Nations' World Food Programme (WFP) have signed an agreement to...
- The WFP's Regional Aviation Safety Office will hold training sessions, seminars, conferences, and special projects, in order to benefit both parties
- The Sharjah Civil Aviation Department will send qualified lecturers and trainers to conferences, workshops, and other events hosted by the WFP