Creators HQ, X announce strategic partnership to produce authentic, meaningful content
Dubai, UAE - Creators HQ in the UAE, the world’s first international hub for the content economy’s creators and entrepreneurs,...
Business
Dubai vs Doha: The Battle for Creator Economy Supremacy and Innovation in the Middle East
Dubai’s aggressive initiatives like the 1 Billion Followers Summit and specialized creator visas put it ahead in attracting global talent,...
Business
Business
Saudi Arabia, Malaysia discuss food security
Saudi Arabia and Malaysia discussed cooperation in food security and the promotion of the private sector to benefit from investment...
- Minister of Environment, Water and Agriculture Eng. Abdulrahman bin Abdulmohsen Al-Fadhli represented Saudi in meeting
- Al-Fadhli met with Malaysia’s Minister of Agriculture and Food Industries Ronald Kiandee in Riyadh to discuss cooperation
Geostrategy
UN session on high seas biodiversity ends without pact
United Nations member states ended two weeks of negotiations without a treaty to protect biodiversity in the high seas, an...
- Many had hoped the session would be the last and yield a final text on "the conservation and sustainable use of marine biodiversity beyond national jurisdiction.
- It will now be up to the UN General Assembly to resume the fifth session at a date still to be determined.
Business
Saudi Arabia imports more cars in H1 than in whole of last year
Saudi ports have witnessed a growth in car imports during the first quarter of 2022, amid an increase in cargo...
- The kingdom has imported 320,000 cars during the first half of 2022— equivalent to 57 percent of last year's total figure
- The cars were mostly imported from Japan, US, and South Korea, with Thailand, Germany, China, and India also playing a prominent role
Business
SALIC to set up storage center
Its CEO said the center will store imported edible oil.
- The announcement was made in a Saudi-Malaysian private sector meeting in Riyadh, which discussed areas of cooperation and investment opportunities
- The center, which will be constructed by the Public Investment Fund-owned firm, will serve as a distribution point for edible oils in the region
Business
Moderna to sue Pfizer, BioNTech over ‘copying’ of vaccine
Moderna has accused Pfizer and BioNTech of copying its technology to make Comirnaty , alleging that the partners infringed on...
- Pfizer has said that it will "vigorously defend against the allegations of the lawsuit"
- Moderna said it pledged in October 2020 not to enforce its Covid-19-related patents while the pandemic continued but less than two years later changed that stance
Business
UAE stock markets post gains of $2.26 billion on Friday
Dubai General Index (DFMGI) advanced 0.007 percent to 3,462.890 pts as blue-chip developer Emaar properties continued to hike, closing higher...
- Realty and banking blue chips accounted for the lion's share of transactions that amounted to more than 14,700 worth around $454 Million over 353.7 million shares
- Emirates NBD, Dubai Islamic Bank, and TECOM increased 1.84 percent, 0.84 percent and 0.41 percent respectively
Interview
Digital transformation in Gulf region not agile enough
It's crucial to identify the right working model to fix the challenges of digital transitions in the GCC, Nick Curran,...
- It's crucial to identify the right working model to fix the challenges of digital transitions in the GCC, Nick Curran, Business Development Manager at Endava, tells TRENDS
- This model should be based on an agile delivery method, reliable data and analytics skills, a strong alignment between product and technology functions, Curran adds
Economy
Agreement signed to implement Abu Dhabi Agri Genome Program
The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) signed a collaboration agreement with the Khalifa Centre for Genetic Engineering...
- The program aims at applying the best international practices related to agricultural genetic research.
- It aims to develop local spices of plant, animal and fish, to improve agricultural production and address the emirate's climatic and environmental challenges.
Business
Weeklong real estate deals worth $2.3 billion recorded in Dubai
Dubai recorded a total of 2,739 transactions with a combined value of AED8.4 billion ($2.3 billion) during the week ending...
- The transactions included the sale of 274 plots for AED1.36 billion and 1,902 apartments and villas for AED4.35 billion.
- The biggest deal recorded was the sale of a plot of land in Business Bay for AED110 million, followed by a piece of land in Wadi Al Safa 2 that went for AED38.75 million.
Economy
Stocks slump after Fed chair vows tough inflation fight
Stock slumped on Friday after Federal Reserve boss Jerome Powell pledged to act "forcefully" against soaring inflation in a battle...
- Modest signs of slowing in the world's largest economy, easing price pressures spurred hope in financial markets the central bank might ease up on its interest rate hikes.
- Powell made it clear that Fed policy and the benchmark borrowing rate would have to remain "sufficiently restrictive" to return inflation to its two percent target.
Creators HQ, X announce strategic partnership to produce authentic, meaningful content
Dubai, UAE - Creators HQ in the UAE, the world’s first international hub for the content economy’s creators and entrepreneurs,...
Business
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Saudi EXIM, India EXIM ink MoU
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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...
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...
Business
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Business
EgyptAir orders 10 Airbus A350 planes in $3.2bn deal at Dubai Airshow
The transaction is worth $3.2 billion, reports say.
- Airbus commercial director Christian Scherer told a news conference the deal marked "an important milestone" in the "long and successful partnership" with EgyptAir
- Airbus, which on Monday announced an order for 30 A220-300s from Latvian budget carrier airBaltic, has been overshadowed by US rival Boeing at this year's Dubai Airshow
Business
UAE’s Tawazun Council signs deals worth $1.27bn at Dubai Airshow
Dubai, UAE - UAE's Tawazun Council, an independent government entity that works closely with the Ministry of Defense and security...
- Four contracts were signed by Tawazun Council on behalf of the Ministry of Defense with local companies, totaling AED 2.7 billion ($740m)
- A contract was signed with “Air Dynamics Solutions” to provide Technical Support and Purchase of Spare Parts and Repair of Aircrafts.
Foxconn reports 11% rise in profit
Foxconn is China's largest private-sector employer.
- Foxconn said net profit for July-September rose to Tw$43.1 billion (US$1.3 billion) from Tw$38.8 billion in the same period last year
- Tuesday's results follow consecutive quarterly profit misses - with January-March seeing a drop of 56 percent and a one percent fall in next three months