Sweden’s gaming group Embracer divests Russian assets
Stockholm, Sweden - Swedish gaming group Embracer, which owns the Borderlands franchise and the Tomb Raider license, announced on Thursday that...
Business
Economy
UAE approves 22 policies to speed up circular economy model
The UAE has approved 22 policies that focus on accelerating the implementation of the circular economy model in the UAE in...
- These policies will focus on accelerating the implementation of circular economy model in he UAE in manufacturing, food, infrastructure, and transport.
- A meeting of the Circular Economy Council also identified at least 16 circular economy activities that can create opportunities for businesses.
Economy
Jordan’s exports to Canada went up by 22 percent since 1997
During the last 25 years Jordanian exports to Canada have increased at an annualized rate of 21.75 percent, from US$885,000...
- During the last 25 years Jordanian exports to Canada have increased at an annualized rate of 21.75 percent
- Jordan and Canada have signed free trade, labor, double taxation, environment and investment agreements
Business
Tesla Model 3 joins Dubai corporation’s taxi fleet on trial basis
Tesla Model 3 has joined Dubai Taxi Corporation's fleet on trial basis, following the success of operating 172 Tesla vehicles...
- This follows the success of operating operating 172 Tesla vehicles in the limousine service since 2017.
- The trial operation aims to verify the efficiency of the vehicle when deployed in the taxi fleet in the emirate, Dubai’s Roads and Transport Authority (RTA) said.
Business
US airlines cancel hundreds of flights during holiday weekend
Airlines cancelled several hundred US flights Saturday at the start of a long and almost certainly messy holiday travel weekend...
- Transportation Secretary Pete Buttigieg put out a series of tweets that were essentially consumer tips on what to do if one's flight is cancelled
- Airlines say they're working to address the situation, recruiting pilots and other staff and trimming summer seat capacity by 15 percent
Business
France looks to invest in Saudi energy, technology sectors
France is looking to invest in energy, technology, water and industrial services sectors in Saudi Arabia, according to the French...
- The French government and the private sector are working to expand the number of companies operating in the Kingdom, which currently stands at about 135
- The kingdom, according to the diplomat, is an attractive region with a suitable environment for investments in all its vital sectors.
Business
Qatar First Bank buys Gateway Plaza
The move aims to deepen Doha-based bank's presence in US real estate market.
- The purchase is the bank's fourteenth investment under its new Shari'a compliant real estate investment strategy
- The property houses the headquarters of prominent firms, with long lease terms and rental escalations
Business
US companies struggle with rising dollar
The rapid rise of the US dollar since the start of the year is a double-edged sword for American multinational...
- For an importer, the surge in the greenback against the euro, yen or British pound is a plus, because it makes the products they buy cheaper
- The greenback has risen 13 percent compared to the euro over the last 12 months, approaching parity, and gained 22 percent against the yen
Market Report
Saudi and UAE stock markets end the week lower
The Saudi and UAE stock markets ended the week lower as concerns about slowing global economic growth impacted investor sentiment....
- Saudi and UAE stock markets ended the week lower, following Asian markets
- Concerns about slowing global economic growth impacted investor sentiment
Arts & Culture
Jeddah Season 2022 concludes, 6m visitors attend events
Jeddah Season 2022 lasted for 60 days and was full of exciting shows, programs, activities that took place in 13...
- Jeddah Season this year lasted for 60 days and it was full of exciting shows
- The shows, programs and activities took place across 13 locations in Jeddah
Business
‘Technology has to fix fake news problem’
Faisal Abbas, editor of Arab News, believes that it is almost impossible that journalists alone can fix the problem of...
- He believes that fake news has always existed since time immemorial, and that social media quickened its spread around the globe
- He feels that while technology can deduce manipulation and flag it, media around the world ought to combat fake news too
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
Company News
Latest News
Dana Gas logs $83m net profit
Business
Aramex profit plunges 53%
Business
Gaza conflict: Fitch places Israel’s IDR on rating watch negative
London, United Kingdom -- Fitch Ratings has placed Israel's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) of 'A+' on...
Business
Saudi e-visa facility extended to Turkiye, five other countries
Riyadh, Saudi Arabia-- Saudi Arabia announced Tuesday that it will grant e-visa to visitors from six new countries -- Turkiye,...
Business
Saudi Arabia launches bus transport project linking 200 cities
RIYADH, SAUDI ARABIA – The Kingdom’s Minister of Transport and Logistic Services Saleh bin Nasser Al-Jasser here launched a significant...
Business
Most Read
Business
Manufacturers struggle to meet AI-related goals, says new white paper
DUBAI, UAE -- Despite many manufacturers integrating AI into their operations, a significant number of them face challenges in meeting...
- A global Boston Consulting Group study from 2023 revealed that AI technologies could enhance productivity by over 20 percent.
- While 90 percent of companies across various industries aim to incorporate AI, only one in six have met their AI-related objectives.
Business
UAE and Saudi Arabia lead MENA venture capital fundraising
Dubai, UAE -- MENA venture capital funding in the third quarter saw $250 million raised across 78 deals, a 32...
- MENA venture capital funding in the third quarter saw $250 million raised across 78 deals, a 32 percent increase compared to Q2 of 2023.
- Saudi Arabia and the UAE led the region in capital raised, with the Kingdom reporting a 172 percent QoQ increase.
Business
MENA banking sector records 30% surge in net profits in H1 2023
Dubai, UAE - The Middle East and North Africa (MENA) banking sector has witnessed a remarkable 30% year-on-year increase in...
- Digital transformation is reshaping the sector, with a focus on AI, sustainable finance, and enhanced customer experiences
- The UAE's banking sector saw a remarkable 31% increase in net profits and total assets, driven by substantial investments in technology initiatives