Iran signs big contracts to increase oil production
Iran sealed contracts worth billions of dollars with domestic companies to boost its oil production in the face of Western...
Geostrategy
Gulf aviation industry sets sky-high standards
"The demand from certain sectors indicates a strong interest in First Class, prompting us to introduce a newly-designed First Class...
Business
Business
Twitter’s stock tanks as Musk trashes lawsuit threat
Twitter shares plunged Monday as Elon Musk issued a mocking, defiant commentary about a looming court battle after he ditched a...
- Musk took to Twitter late Sunday night to troll the company after it said it would sue to enforce the deal
- Musk on Friday pulled the plug on the deal, accusing Twitter of "misleading" statements about the number of fake accounts
Geostrategy
Biden seeks to persuade Saudi Arabia to pump more oil as prices soar
Saudi Arabia's oil-driven economy expanded by 9.6 percent in the first quarter, its strongest growth rate in a decade.
- Saudi Arabia's oil-driven economy expanded by 9.6 percent in the first quarter, its strongest growth rate in a decade
- Last month, OPEC+ stuck to a previously agreed output hike, shrugging off calls for bigger increases to tame elevated prices
Investigation
Cyberthreats put critical infra at risk in Middle East
Top cyber security experts speak to TRENDS about primary threats to critical infrastructure providers and how to build effective defenses.
- The impact of some cyber attacks was felt far beyond the organizations impacted directly and, in some cases, across the world.
- Gartner recently reported that only 60 percent of organizations globally protect endpoints.
Economy
UAE minister discusses CEPA, investments with local companies
Minister of Economy and Chairman of the UAE International Investors Council Abdullah bin Touq Al Marri said, in a meeting,...
- UAE International Investors Council has set up a platform to protect the interest of Emirati companies and investments abroad
- UAEIIC meeting discussed the advantages offered by the comprehensive economic partnership agreements signed with India, Israel and Indonesia
Economy
Abu Dhabi Chamber holds session on Emiratization in private sector
The Abu Dhabi Chamber of Commerce and Industry has organized an awareness session on increasing Emiratization rates in the private...
- A number of topics were discussed during the session including encouraging young Emirati talents to join the private sector
- The UAE government has announced a comprehensive federal program 'Nafis' for increasing Emiratization rates in the private sector
Economy
Saudi Arabia’s Industrial Production Index grows by 24 percent in May
Saudi Arabia’s Industrial Production Index (IPI) grew by 24 percent in May 2022 compared to the same period last year....
- The growth is the third highest rise in the last three years, according to the kingdom’s General Authority for Statistics (GASTAT).
- GASTAT said the growth of the IPI turned positive in May 2021 after a long period of negative growth rates in 2019 and 2020, partly impacted by Covid 19.
Business
$5.76bn French factory on cards
STMicroelectronics and GlobalFoundries to invest in semiconductor unit.
- Expected to employ around 1,000 people, the factory should reach full capacity by 2026.
- Chip factories like STMicroelectronics's produce integrated circuits on 300-millimetre (12-inch) circular "wafers" of silicon.
Business
Uber docs reveal bare-knuckle expansion tactics: report
A leaked cache of confidential files from ride-sharing company Uber illustrates ethically dubious and potentially illegal tactics it used to...
- Culled from 124,000 documents from 2013-2017 initially obtained by British daily the Guardian, the revelations are the latest hit for a company dogged by controversy
- The cache includes unvarnished text and email exchanges between executives, with standouts from co-founder and former chief executive Travis Kalanick
Business
Three first phase buildings of Grove District sell out: Aldar
37% of sales were completed by non resident investors, 27% by expatriate residents, and the remainder by UAE nationals.
- 37% of sales were completed by non resident investors, 27% by expatriate residents, and the remainder by UAE nationals
- Due to increased demand, apartments at Grove Gallery Views are now available for purchase by buyers of all nationalities
Analysis
Apex banks under pressure to deliver lower inflation
The world economies are staring at the deep recessions and more financial instability. If inflation does not moderate significantly over...
- Global bond and equity markets have been particularly volatile in recent weeks, says the latest Qatar National Bank report
- The main driver of the volatility was the multitude of negative prints coming from inflation figures in key economies, it adds
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Iran signs big contracts to increase oil production
Iran sealed contracts worth billions of dollars with domestic companies to boost its oil production in the face of Western...
Geostrategy
Company News
Ma’aden Q2 revenues hit $1.86bn
Business
Latest News
Markets in retreat on growing fears of Middle East war
With Benjamin Netanyahu building up a huge force ahead of an expected land incursion into Gaza, Iran has warned of...
Bahrain EDB attracts $295m in IT sector as part of total investments worth $1.4bn
Manama, Bahrain--Bahrain Economic Development Board (Bahrain EDB) has attracted $295 million in direct investments within the Information and Communications Technology...
Business
Saudi Arabia offers to fund Iraq’s largest housing project
Baghdad, Iraq - Saudi banks have offered to fund Iraq's largest housing project, which was previously stalled by South Korea's...
Business
Most Read
Business
Saudi Central Bank to collaborate with monetary authority of Singapore in fintech
Riyadh, Saudi Arabia - The Saudi Central Bank (SAMA) signed an agreement with the Monetary Authority of Singapore (MAS) on...
- The agreement seeks to facilitate activities of both organizations in international markets
- It will also provide a framework for cooperation between their innovation departments
Business
KSA builds on MENA construction with $44bn contracts
Despite global economic challenges, the region showcased resilience in the first half of 2023, backed by a robust performance in...
- Despite global economic challenges, the region showcased resilience in the first half of 2023, backed by a robust performance in the construction sector
- Future projections indicate growth, with Egypt's construction market expected to expand and Saudi's diversification efforts fueling further development
Business
US tightens curbs on exports of advanced AI chips to China
Washington, United States - The United States on Tuesday said it was tightening curbs on exports of state-of-the-art AI chips to...
- The measures are the latest chapter in the policy started under the Trump administration to limit Beijing's ability to gain ground and become a leading tech economy.
- The new rules tighten measures taken a year ago that banned the sale to China of microchips that are crucial to the manufacturing of powerful AI systems.