Crypto crime drops 19.6% as digital ecosystem matures
Advanced blockchain analysis tools, such as those provided by Chainalysis, are empowering law enforcement agencies and enterprises to counter the...
Economy
US defends forcing sale of TikTok app
TikTok's suit argues this violates First Amendment rights of free speech.
Business
UAE, Japan discuss forming a business council
The council aims to boost cooperation and visits between the business communities in both countries.
- The council aims to boost cooperation and visits between the business communities in both countries
- Secretary-General of the FCCI bin Salem invited Japanese businesses to invest in the UAE and leverage government incentives
Business
UAE to woo at least 300 global tech firms with ‘NextGenFDI’
The UAE will encourage some 300 global technology firms and software developers to set up base in the country under...
- Dr. Thani bin Ahmed Al Zeyoudi said large and SME businesses approached UAE for the relocation
- The UAE also aims to establish 1,000 new digital companies and increase investment in startups from approximately US$400 million to US$1.3 billion
Business
Oil prices drop below $100 on recession worries
Recession worries pushed the price of Brent oil briefly back under $100 on Wednesday, and the euro moved closer to...
- Europe's benchmark crude oil contract, Brent North Sea, fell briefly under $100 per barrel in afternoon deals
- Citi analysts have forecast that Brent could strike $65 later this year in the event of a prolonged worldwide economic downturn
Business
Middle East startups raise $1.8 billion in first half of 2022
During the first half of the current year, startups in the Middle East have succeeded in raising $1.8 billion, according...
- The fintech sector remained the most capital attracting sector, raising nearly $1.7 billion and accounting for 34 percent of the total funding secured across all markets
- Transport and logistics and e-commerce came in second and third, each raising respectively $1 billion and $501 million
Business
Tunisian street vendor serves success despite bureaucracy
Habib Hlila, 27, first set up a food van in the working-class Bab El Khadra district of Tunis in early...
- Habib Hlila, 27, first set up a food van in the working-class Bab El Khadra district of Tunis in early April, selling sandwiches at the end of each day's fast
- He quickly became a star of Tunisian street food, gaining a social media following as he used banter and theatrics to prepare his signature "El-Bey" sandwiches
Aramco expected to post $44bn profit in Q2: report
Al-Rajhi Capital which has analyzed the performance of all industrial sectors expects Saudi-listed companies to see mixed earnings in Q1...
- Al-Rajhi Capital which has analyzed the performance of all industrial sectors expects Saudi-listed companies to see mixed earnings in Q1 2022, amid rising oil prices
- The profit of the chemical giant Saudi Basic Industries Corp’s (SABIC) is forecast to slightly slip by 1 percent to SR7.6 billion
Business
Tokyo stocks rise on back of US Fed resolve to fight inflation
Tokyo shares opened higher Thursday after minutes from a Federal Reserve meeting showed that US central bankers are determined to...
- The benchmark Nikkei 225 index rose 0.69 percent, or 179.41 points, to 26,287.06 in early trade, while the broader Topix index advanced 0.76 percent, or 11.15 points, at 1,867.12
- The Tokyo market benefited from the overnight gains on Wall Street, but some investors might refrain from making major moves ahead of a national election this weekend
Business
Fuel prices drive demand for hybrid vehicles in UAE
While some buyers are opting for smaller compact SUVs and electric vehicles, others are putting their purchase decisions on hold...
- UAE fuel prices jumped around 75 percent since January 2022. Super 98 petrol price increased to Dh4.63 ($1.26) per liter in July 2022 compared to Dh2.65 per liter in Jan 2022.
- Rising petrol prices in the UAE are pushing small businesses and private individuals to switch from vehicle ownership to rentals.
Business
New multilateralism likely to define global trade in 2022: DMCC report
Global trade hit a record high of $28.5 trillion in 2021, with more growth expected in 2022. The future also...
- Geopolitics will shape the trade landscape in the 2020s, building on new developments in regionalism, bilateral trade, and global investment flows.
- Pent-up demand from the COVID-19 shock is already driving trade in goods; a rebound in trade in services is set to follow.
Business
Emerge, Miral to install solar energy at Abu Dhabi theme park
Emerge and Miral signed an agreement to deploy on-site solar energy systems at the SeaWorld Abu Dhabi theme park on...
- The project will have a capacity of 8.2 megawatts (MW) with rooftop solar photovoltaic (PV) systems installed at the theme park.
- Emerge will provide a full solution including design, procurement, and construction, as well as operation and maintenance services.
Crypto crime drops 19.6% as digital ecosystem matures
Advanced blockchain analysis tools, such as those provided by Chainalysis, are empowering law enforcement agencies and enterprises to counter the...
Economy
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HSBC Q3 profit up
Its pre-tax profit more than doubled to US$7.7bn.
- The banking giant reported third-quarter revenue grew 40 percent to $16.2 billion
- It announced a new $3bn share buyback program, after two similar initiatives this year
Interview
‘ESG, AI and robotics remain FII’s investment focus’
FII Institute remains committed to innovative and sustainable technology investments, Anthony Berkley, ACT Director and Head of Investments, tells TRENDS.
- FII Institute remains committed to innovative and sustainable technology investments, Anthony Berkley, ACT Director and Head of Investments, tells TRENDS.
- Its portfolio includes pioneering firms in AI and robotics, reflecting a focus on impactful solutions in critical areas like sustainability, health, and education.
Business
Hamriyah Freezone and Amazon UAE sign lease agreement for new logistics center
Sharjah, UAE--Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics centre which will...
- The agreement supports Amazon UAE’s commitment to investing across the country in order to shore up economic growth and innovation
- The freezone's infrastructure and location together with Amazon's technology are expected to boost customer convenience and reliability