All six lines of Riyadh Metro are now operational
The Royal Commission for Riyadh City (RCRC) announced that the phased rollout of Riyadh Metro culminated as of Sunday, Jan....
AI as the next frontier: Opportunities for channel partners to lead the way
AI offers an infinite number of selling and upselling opportunities. Resellers with the right strategic long-term approach will clearly develop....
Business
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.
Business
Iran’s largest steel maker suspended from trading on Tehran exchange
According to the parliamentary report, which was published by several local media outlets, the firm paid huge sums of money...
- Located in central Isfahan province, Mobarakeh plays a major role in Iran's economy and is the owner of local football team Sepahan.
- In January last year, Iranian lawmakers voted to launch an investigation into Mobarakeh's affairs to examine issues including "the reasons for its decrease in export volume".
Business
Saudi business tax payers asked to submit July declaration
The Zakat, Tax and Customs Authority has called on taxpayers from the business sector subject to value added tax (VAT)...
- The Authority has urged business sector taxpayers to promptly submit their tax declaration in order to avoid a penalty.
- Penalty will be charged at a minimum of 5 percent and a maximum of 25 percent of the tax value which the taxpayer had to declare.
Business
GIS, DIH mull merger
Qatar Central Bank has provided in-principle no-objection to both firms.
- The potential merger is likely to create one of the largest local insurance companies.
- The creation of huge insurance company is in line with the Qatar National Vision 2030.
Business
Workers at Britain’s biggest container port begin eight-day strike
The Unite union representing the striking Felixstowe staff said the stoppage will have a big impact at the port, which...
- Nearly 2,000 unionized employees at the port in eastern England started their walkout Sunday morning in the first strike at Felixstowe since 1989.
- It comes amid stoppages over pay and working conditions across various UK industries, with railway workers just the latest to strike on Thursday.
Business
Telecom Egypt and Orange Jordan’s CAB System to connect Iraq to Europe
Telecom Egypt, Egypt’s first integrated telecom operator and one of the largest subsea cables operators in the region, and Orange...
- The Cairo Amman Baghdad System will be ready for service in the third quarter of 2022.
- Once launched, it will be the most advanced, scalable gateway and express route connecting Iraq to Europe using the companies’ networks, the companies said in a statement.
Business
Cross-currency payments face challenges
Cross-currency payments cut the need for foreign transaction fees for customers, encourage customer loyalty and reduce cart abandonment but they...
- Cross-border payments are not always hugely inclusive to individuals, according to ManagedLEI, a Registration Agent of Legal Entity Identifiers.
- In countries where access to a bank account is low, for example, not everyone will be able to make cross-border transactions.
Geostrategy
UAE, Egyptian leaders review fraternal relations in Al Alamein City
President Sheikh Mohamed bin Zayed Al Nahyan arrived in Al Alamein City on a visit to the Arab Republic of...
- President Sheikh Mohamed bin Zayed Al Nahyan has arrived in Al Alamein City on a visit to the Arab Republic of Egypt.
- President of Egypt, Abdel Fattah el-Sisi received UAE President Sheikh Mohamed at the airport where the leaders discussed cooperation between the two countries.
Economy
Dubai’s RTA reduces energy consumption by 18 percent
Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority said that RTA had achieved...
- RTA had managed to reduce the total emissions by 13 percent and energy costs by 10 percent compared with the average consumption from 2016 to 2019.
- RTA has a roadmap that aims to achieve zero-emission from public transport in Dubai by 2050.
All six lines of Riyadh Metro are now operational
The Royal Commission for Riyadh City (RCRC) announced that the phased rollout of Riyadh Metro culminated as of Sunday, Jan....
Company News
ADNOC looks to buy Covestro
Business
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Sustainability in style: UAE’s couture goes green
The UAE is shifting from Western influences to eco-friendly practices in its apparel market. 2023 marks the nation's commitment to...
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Business
Dubai Taxi to sell 624 million shares in IPO, plans to list on DFM
Dubai, UAE -- Dubai Taxi Company Monday announced its intention to proceed with an Initial Public Offering (IPO) and to...
- The offering, representing 24.99 percent of Dubai Taxi Company's total issued share capital.
- The share capital of the company, as at the date of the listing, has been set at AED100 million divided into 2.5 billion shares paid-in-full,
Business
ADNOC L&S reports 162% rise in profit
The company also reported an EBITDA of $635 million.
- The company also reported an EBITDA of $635 million (AED2,332 million), marking a substantial 124% year-on-year increase
- The third quarter of 2023 specifically contributed to the positive financial performance, with a 30% year-on-year increase in revenue
Economy
Insect farming ‘revolutionizes’ Gulf agriculture
Across the arid region, in which conventional agriculture is beset by many challenges, insect farming for livestock feed is perceived...
- Many experts feel insect farming as against livestock farming emits fewer greenhouse emissions and uses fewer natural resources like water and feed
- The region, however, with its unique climatic conditions and inadequate water supply, poses many hurdles for sustainable insect cultivation