ADNEC to organize first Bitcoin MENA Conference in Abu Dhabi
Abu Dhabi, UAE--ADNEC Group has announced the launch of the region's first Bitcoin MENA Conference 2024 set to take place...
Business
Over 70% report revenue surge in UAE from digital payments, Visa finds
Dubai, UAE - More than 70% of surveyed retailers in the UAE have experienced increased revenue and higher customer footfall since...
Business
Business
Qatar receives highest number of international visitors in May
The international arrivals in Qatar exceeded 166,000 people in May, making it the month with highest number of visitors in...
- The figures represent more than a quarter of all visitors in the first five months of 2022.
- The year-to-date total (580,000) is fast reaching the overall arrivals figure of 2021 (611,000).
Business
Germany declares emergency steps to meet energy demand
Berlin has managed to reduce the share of its natural gas supplied by Russia from 55 percent before the invasion...
- The move comes after Moscow turned up the pressure on Western allies, sharply reducing flows of natural gas.
- Germany is among several European countries that are highly reliant upon Russian gas for their energy needs.
Videos
UAE set to lead MENA metaverse
Firms in the region are now offering better participation, levels of cooperation and communication to their staff through productive workspaces...
- At its broadest, metaverse combines elements of social media, augmented reality, virtual reality, video games, cryptocurrencies and other advanced technologies.
- As the next big market opportunity, the metaverse could provide nearly US$800 billion in revenue by 2024, Bloomberg Intelligence estimates show.
Business
RTA’s revenue collection via digital channels up by 32 percent in 2021
Roads and Transport Authority’s revenues collected through digital platforms increased by 32 percent in 2021, said Mattar Mohammed Al Tayer,...
- RTA’s total digital revenues amounted to AED3.5 billion ($952 million), compared to approximately AED2.65 billion in 2020.
- The number of digital transactions reached 676 million last year, a 28 percent increase over 527 million in 2020.
Economy
Qatar discusses growth of digital economy with US Embassy
In a virtual meeting Qatari minister, US Embassy officials, American Chamber of Commerce personnel, government officials and representatives of the...
- Qatari minister speaks of his country's vision for a digital economy
- He said US firms have a key role in Qatar's digital economy
Business
Italy’s Eni joins giant Qatar gas project after Russian cuts
Eni will own a stake of just over three percent in the $28 billion North Field East project, the world's...
- The project's LNG -- the cooled form of gas that makes it easier to transport -- is expected to come on line in 2026.
- It will help Qatar increase its liquefied natural gas production by more than 60 percent by 2027.
Business
Incubeta buys Bruce Clay
The purchase will help the firm to expand in the MENA region.
- Operating in 17 countries globally, Incubeta is a market leading specialist that uses the power of bespoke, localized digital solutions to unlock and amplify growth potential
- Bruce Clay MENA and Incubeta will drive growth for clients, and the group, in the Middle Eastern and North African markets
Business
Vodafone signs deal with Whisbi
The agreement is for the provision of customer care services via video call.
- Vodafone has signed an exclusive agreement with Whisbi for the provision of customer care services via video call
- The agreement was signed between Bader Al Zaidi, CEO of Vodafone, and Alex Bisbe CEO of Whisbi in Muscat
Business
Bitcoin drops to $18,740, its lowest level since December
Bitcoin plunged below $20,000 on Saturday, shedding nine percent from the previous day to fall to $18,740, its lowest level...
- With investors increasingly wary of risk, the world's most popular crypto asset has lost more than 72 percent of its value since reaching a high of $68,991 on November 10, 2021
- World stock markets plunged this week amid fears that inflation-fighting interest rate hikes by the US Federal Reserve and other central banks could trigger a recession
Business
Iraq asks Iran to hike gas supplies to run power plants
Iraq is in discussions with Iran to increase gas transportation to the country in order to operate power plants. The...
- The ministry of electricity for Iraq feels that Iran understands Iraq's needs
- Iraq has started the process of repaying the Iranian gas debt, while also saying it needs more than 50 million cubic meters per day
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
ADNEC to organize first Bitcoin MENA Conference in Abu Dhabi
Abu Dhabi, UAE--ADNEC Group has announced the launch of the region's first Bitcoin MENA Conference 2024 set to take place...
Business
Company News
Latest News
Jarir’s 9M profit down marginally
The fall was attributed to an increase in non-operating expenses.
Business
Pro-business policies make UAE global investment hub
"While the world has abundant funds, there's a need for innovative strategies to channel them into vital sectors like sustainable...
Business
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Business
Birkenstock to list on NYSE
The German sandals maker has set its share price at $46.
- A total of 32.26 million ordinary shares will be offered in its initial public offering, trading under the symbol BIRK
- Birkenstock recorded revenues of $1.17 billion for the nine months ending June 30, up 21 percent from the same period in 2022
Business
ExxonMobil to acquire Pioneer
This is the company's biggest takeover since 1990 acquisition of Mobil.
- ExxonMobil will buy Texas-based Pioneer for $59.5 billion based on ExxonMobil's closing price on October 5.
- ExxonMobil said the takeover is the company's biggest since the late 1990s acquisition of Mobil by Exxon.
Geostrategy
EU asks X and Meta to regulate fake news, disinformation
Thierry Breton, EU commissioner and self-styled "digital enforcer", raised the alarm in letters sent to Elon Musk, owner of X,...
- EU official Breton demanded both X and Meta must provide details within 24 hours on what they were doing to ensure "illegal content and disinformation".
- He said Brussels was taking "extremely seriously" the risk of "fake and manipulated images and facts generated with the intention to influence elections".