Masdar targets 100 GW of clean energy by 2030
Abu Dhabi, UAE - Fatima Al Suwaidi, Head of Development & Investment (APAC) at Masdar, has affirmed the company's ambitious...
Business
Over 300 keynotes, panels, main sessions at 1 Billion Followers Summit’s third edition
Dubai, UAE - The third edition of the 1 Billion Followers Summit, the world’s first and largest event dedicated to...
Business
Economy
Egypt curtails domestic use of energy to boost forex
An economic crisis spurred by the Ukraine war is casting darkness upon Egypt's streets, as the government dims lights to...
- Egypt, the world's biggest wheat importer, relied on the ex-Soviet states for over 80 percent of its grain.
- Inflation hit a three-year high of 14.6 percent in July after Egypt devalued the pound
Business
Saudi hosts preparatory meet for ITU’s conference in Bucharest
International delegates are meeting in Riyadh from August 28-31 to discuss the future of global digital communications ahead of International...
- The meet is hosted by Saudi Arabia’s digital regulator, the Communications & Information Technology Commission.
- Saudi Arabia is positioned to act as a convenor and mediator between the Arab world and the ITU’s 193 members to forge the best global digital policies.
Business
Saudi Arabia tops world with export of dates worth $322bn
Saudi Arabia harbors more than 33 million palm trees planted in more than 123,000 agricultural properties in 13 administrative regions,
- According to a report by the Ministry of Environment, Water and Agriculture (MEWA), Saudi Arabia's dates exports amounted to $322 billion
- The kingdom produces nearly 154 million tons of dates annually
Business
Alhokair trims H1 loss by 49%
It cut down the loss to $18m from $35.39m posted last year.
- The hospitality group recorded a 6.4 percent rise in revenue to $93.66 million that helped bring down the group's loss
- Alhokair saw growth across its different units during the six-month period, recording higher revenue from the hotel and entertainment sectors
Business
Dogs take to gym to beat UAE heat
With temperatures soaring above 45 degrees Celsius, dogs have found a unique way to beat the heat of the UAE:...
- The resource-rich Gulf is among the regions most at risk from global warming, with some cities facing the prospect of becoming uninhabitable by the end of the century
- Experts recommend that dogs exercise at least 30 minutes a day
Business
Facebook to settle lawsuit on private data misuse
Facebook, since the Cambridge Analytica scandal broke, has removed access to its data from thousands of apps suspected of abusing...
- In a lawsuit initiated in 2018, Facebook users accused the social network of violating privacy rules by sharing their data with third parties
- Cambridge Analytica, which has since shut down, had collected and exploited, without their consent, personal data of 87 million FB users
Business
Heavyweight stocks lift up Saudi, UAE markets
After a nervous start to the week, the big stocks of the GCC, Al-Rajhi Bank, Retal Urban Development Company, and...
- The Abu Dhabi Securities Exchange index finished the week up 0.5 percent, with five sectors and 34 shares gaining ground
- The Saudi index finished the week up 1.2 percent due to gains of 1.6 percent at Al Rajhi Bank and 0.8 percent at Retal Urban Development Company
Business
Electronic payments scan more success than cash
Despite ease in the measures set to combat the COVID-19 pandemic, electronic payments in the Gulf countries surged more than...
- Despite ease in the measures set to combat the COVID-19 pandemic, electronic payments in the Gulf countries surged more than cash payments in several other Arab countries
- Gulf govts have consistently been working to popularize electronic payment in many sectors as part of their national plans to establish governance and optimize automation
Geostrategy
Macron winds up Algeria visit with ‘irreversible dynamic’ of progress
French President Emmanuel Macron and his Algerian counterpart Abdelmadjid Tebboune Saturday declared a "new, irreversible dynamic of progress" in their...
- The three-day visit comes less than two months after Algeria marked six decades of independence following 132 years of French rule
- It comes as European powers scramble to replace Russian energy imports - including with supplies from Algeria, Africa's top gas exporter
Geostrategy
Japan vows billions at Africa investment conference
Japanese Prime Minister Fumio Kishida Saturday pledged $30 billion over three years for Africa in a virtual address to a...
- Japanese Prime Minister Fumio Kishida Saturday pledged $30 billion over three years for Africa in a virtual address to a development conference in Tunis.
- Host country Tunisia is among the countries bearing the brunt of global supply chain disruptions and price spikes since it is heavily import dependent.
Masdar targets 100 GW of clean energy by 2030
Abu Dhabi, UAE - Fatima Al Suwaidi, Head of Development & Investment (APAC) at Masdar, has affirmed the company's ambitious...
Business
Company News
Latest News
Dubai Airports expect to cross pre-pandemic passenger numbers in 2023
Dubai, UAE--Dubai Airports is expecting annual passenger traffic at Dubai International (DXB) to touch 86.8 million – surpassing 2019 traffic,...
Business
Iran to link up electricity grid with Russia via Azerbaijan
Tehran, Iran-- Iran is linking up its electricity grids with Russia via Azerbaijan in order to make up for its...
Business
Snapchat to add in-app Amazon shopping
In-app shopping will be available for select products advertised on Snapchat and sold at Amazon, the spokesperson added. People will...
Most Read
Business
Google warns against downloading its AI model from external sources
Washington, US--Google has warned users against trying to obtain its Cold generative artificial intelligence (AI) model from external sources currently...
- According to Google the download delivers malware to victims, stealing sensitive data and starts from a user's social media accounts
- The company is working on Bard tools to integrate them into many of the different services it provides from search engine to Pixel phones
Business
Black Friday is a $74bn opportunity for MENA retail. But is it losing sheen by ‘blindly copying’ the West?
The expected injection of billions of dollars into the retail business through sale of varied items can turn out to...
- In 2021, Black Friday sales notched up $61 billion, followed by a further upswing in sales to $70 billion in 2022, and this year sales are expected to cross the figure
- According to several experts, the annual event continues to draw consumers across the GCC, with nearly 85 percent of them expected to participate in Black Friday
Business
Black Friday is a $74bn opportunity for MENA retail. But is it losing sheen by ‘blindly copying’ the West?
The expected injection of billions of dollars into the retail business through sale of varied items can turn out to...
- In 2021, Black Friday sales notched up $61 billion, followed by a further upswing in sales to $70 billion in 2022, and this year sales are expected to cross the figure
- According to several experts, the annual event continues to draw consumers across the GCC, with nearly 85 percent of them expected to participate in Black Friday