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
Samsung reshuffles leadership amid challenge in AI chips
Seoul, South Korea - Samsung Electronics reshuffled its leadership on Wednesday as it looks to gain an edge in the production...
Geostrategy
Business
G42 launches $10bn technology growth fund
The fund, to be managed by a subsidiary of G42, will invest in late-stage growth companies with disruptive technologies and...
- The fund will invest in late-stage growth companies with disruptive technologies and strong business fundamentals
- It will operate as a private equity investor, with a significant share of investment earmarked for high growth regions
Business
TikTok rolls out plan to fight US election misinformation threat
TikTok will use automated systems and human fact-checkers to assess the accuracy of content, prompting users to "reconsider" sharing posts...
- TikTok has rolled out an "Elections Center" that will help users know how and where to vote
- According to a recent Pew Research report, the social media giant has emerged as a top social media platform for US teens
Business
Saudi jewelry sector records 36 percent sales jump in Q2
The gold and jewelry sector in Saudi Arabia has recorded a 36 percent growth in sales as the economy shows...
- The kingdom has also seen an upsurge in consumer spending in the second quarter exceeding $33 billion with an annual growth rate of 7 percent
- Referring to data issued by the Jazan Chamber of Commerce, the report said the gold and jewelry sector was followed by clothing and footwear, which grew by 24 percent
Business
Demand boost, price rise lift profits of Gulf oil firms
GCC countries have witnessed financial surpluses in their budgets for the first time in a long time on the back...
- GCC countries have witnessed financial surpluses in their budgets for the first time in a long time on the back of increase in oil prices, strengthening their credit ratings
- Saudi Arabia, the largest OPEC producer, is among the first to benefit from the surge in oil prices and an increased demand, with a $21 billion surplus in the first quarter
Economy
UAE scores high in 11 best expatriate destination parameters: Survey
The UAE has exceeded international figures in 11 indexes on the best expatriate destinations based on various factors, which include...
- German research firm InterNations said UAE achieved advanced positions in four key pillars and 11 indexes, out of five pillars and 17 indexes.
- About 94 percent of those surveyed felt safe in the UAE while the global rate was under 81 percent.
Geostrategy
Dubai airport gears up to ease transit travel for World Cup supporters
Dubai International Airport, a major aviation hub, is gearing up to help ease transit travel for World Cup supporters ahead...
- The first World Cup ever held in a Middle Eastern country is set to kick off in Qatar on November 20, and will last until December 18.
- Gulf states have agreed to ease administrative procedures for fans in transit, in particular through the United Arab Emirates.
Business
Number of UAE-based private sector employees grows by 9% in Q2
The Ministry of Human Resources and Emiratisation said in its private sector workforce report that the construction sector accounted for...
- Twenty-six percent of the total private sector workforce registered with the Ministry are in the construction sector, followed by 21 percent in the trade and repair services.
- Agriculture sector marked the highest (70 percent) growth in the number of new work permits issued, followed by social and personal services.
Business
UAE, Saudi achieve above 60 percent pre-Covid travel recovery
Travel recovery witnessed in the UAE and Saudi Arabia has been very strong, according to a survey of nearly 2,000...
- A total of 98 percent of respondents in Saudi Arabia and 95 percent in the United Arab Emirates have used airport lounges in the past. .
- Passengers from the UAE made an average of four return trips in 2021, which is a 67 percent recovery from the pre-pandemic average number of six return trips.
Business
Uniper, German energy giant, records net loss of $12.5bn in H1
Russia's war in Ukraine has caused turmoil in European energy markets, especially in Germany, which is heavily dependent on Russian...
- Uniper on Wednesday reported heavy first-half losses which it blamed on Russia squeezing gas deliveries in the wake of the Ukraine war.
- The German government agreed in late July to take some 30-percent stake in Uniper, which was threatened with bankruptcy as a result of the crisis
Saudi PIF buys shares in Alphabet, Zoom, Microsoft
The Fund purchased 1.8 million shares of Microsoft, 4.7 million class A shares of Zoom, and 213,000 class A shares...
- The Fund purchased 1.8 million shares of Microsoft, 4.7 million class A shares of Zoom, and 213,000 class A shares of Alphabet
- It also acquired shares in JPMorgan and BlackRock, buying 3.9 million shares and 741,693 shares respectively
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
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Bank of China opens in Riyadh
Business
Rani R Raad is new CEO of IMI
Business
Turkey halts joint-energy projects with Israel over Gaza war
Dubai, UAE-- Turkey has suspended joint-energy projects with Israel over the latter's invasion and bombardment of the Gaza Strip, according...
Geostrategy
Saudi Arabia boosts ‘investment relations’ with African countries
Riyadh, Saudi Arabia-- Saudi Arabia's Ministry of Investment has held a number of roundtable meetings with several African countries on...
Economy
UAE exhorts UNESCO members to join COP28 ‘climate efforts’
Paris, France-- The UAE has made a fervent appeal to members of the United Nations Educational, Scientific and Cultural Organization...
Economy
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Geostrategy
ADNOC Drilling, Alpha Dhabi set up JV
The two companies will invest up to US$1.5 billion.
- ADNOC Drilling will own 51 percent of the JV with Alpha Dhabi holding 49 percent, bringing together a market-leading drilling and OFS expert.
- This will further develop and scale up ADNOC Drilling’s integrated drilling and oilfield services (OFS) offering and enhance operational efficiencies.
Business
Qatar records 17-percent jump in building permits issued in October
Doha, Qatar--Qatar's Planning and Statistics Authority has given out 769 building permits in various municipalities in the country during the...
- The jump was seen in the majority of municipalities: Umm Salal (105%), Al Khor (47%), Al Shamal (30%), Al Sheehaniya (22%), Al Thakhira (21%), Al Wakra (20%), Doha (3%)
- Data on building permits and completion certificates holds special significance as an indicative measure of the performance of the construction and building sector
Business
Saudi Arabia, South Africa sign protocol for import of cattle, sheep and goat meat
Riyadh, Saudi Arabia--The Saudi Food and Drug Authority (SFDA) and South Africa’s Department of Agriculture, Land Reform and Rural Development...
- The two sides signed the protocol on the sidelines of the Saudi-Arab-African Economic Conference held in Riyadh
- It looks to accredit the regulatory body in South Africa by the SFDA to export cattle, sheep and goat meat to the kingdom