GACA and SBJBC strengthen saudi-UK aviation ties in London roundtable
Led by GACA President, the meeting featured the British Ministry of Transport, the SBJBC, and key aviation industry leaders.
Business
Trump Tower agreement announced in Jeddah following luxury hotel deal in Oman
A Trump Tower is coming to Saudi Arabia, a regional developer announced on Monday, Al Monitor reported. Dar Global and...
Business
Business
Siemens writes off $2.8 billion
The move came after share price of its former energy unit fell sharply.
- The drop in the value of Siemens Energy meant the parent company's 35 percent holding in the spin-off at "significantly below the book value".
- Siemens Energy's wind-energy subsidiary Siemens Gamesa has struggled to turn a profit despite surging demand for renewable energy.
Economy
‘Industrial sector a key player in Abu Dhabi’s economy’
Industrial sector performs key role in Abu Dhabi’s economy and a new industrial financing entity will soon be established for...
- ADDED chairman says a new industrial financing entity will soon be established for large industries and SMEs
- He said initiatives such as reducing electricity, water and gas tariffs have been launched to attract investments
Business
Abu Dhabi to set up industrial financing entity: Chairman ADDED
A new industrial financing entity will soon be established in Abu Dhabi to finance large industries and small and medium-sized...
- The entity will finance large industries and SMEs as industrial financing requires the establishment of new frameworks, Al Hammadi said.
- Abu Dhabi's industrial sector contributed about AED 83.5 billion to the emirate's GDP in 2021.
Business
AD Ports acquires stake in IACC
AD Ports Group's cash reserves to fully fund the deal.
- It is the first international acquisition by AD Ports Group.
- IACC wholly owns two Egypt-based maritime companies, Transmar International Shipping Company and Transcargo International S.A.E.
Business
SCCI, EDB partner to aid investors, SMEs
The collaboration is part of strategic efforts by both companies to enhance the private sector's contribution to UAE economic development.
- The collaboration is part of strategic efforts by both companies to enhance the private sector's contribution to UAE economic development
- SCCI plans to provide support to the industrial and SME sectors as critical components in promoting diversification, sustainability, and national economic growth
Business
MEmob+ integrates blockchain technology, first MENA tech company to do so
MEmob+ has invested substantially in blockchain technology to offer its clients the most advanced and effective advertising services.
- MEmob+ has invested substantially in blockchain technology to offer its clients the most advanced and effective advertising services
- MEmob+ is now well positioned to enhance digital marketing activations and performance and has strict control over data flow and GDPR adherence
Business
Russia warns G7 price cap on oil would increase its price
Moscow said Thursday that G7 plans to cap the price of Russian oil would lead to a shortfall on world...
- Leaders of the Group of Seven wealthy nations agreed at a summit this week to work on a price cap for Russian oil.
- West has already imposed multiple layers of sanctions on Russia in response to Putin's order to send troops to Ukraine.
Economy
UAE, South Korea ink pact to support entrepreneurs, SMEs
The UAE and South Korea sign an agreement to launch a joint cooperation program to support entrepreneurs and SMEs. During...
- The UAE and South Korea sign an agreement to launch a joint cooperation program to support entrepreneurs and SMEs
- During the 11-month program, the two sides will discuss and cooperate in entrepreneurship and SME development
Business
Europe’s Syria phosphate imports profiting Russian firm: Report
Syrian phosphates used for fertilizer are being exported to Europe in bulk, benefitting a Russian firm and the sanctions-hit Damascus...
- Italy, Bulgaria, Spain and Poland are among the EU states receiving Syrian phosphates.
- International sanctions do not ban the import of Syrian phosphates but key Russian and Syrian players involved in the trade are sanctioned by the US or Europe.
Geostrategy
‘Effective steps needed to tackle situation due to Ukraine crisis’
Jordan's Minister of Foreign Affairs and Expatriates has called for concrete and effective steps to address the effects of the...
- Jordan's foreign minister calls for concrete steps to deal with the effects of Ukraine crisis on food security, energy prices and supply chains
- The minister reviews the Kingdom's relations with NATO and Jordan's role in the 'Mediterranean Dialogue' group since 1995
GACA and SBJBC strengthen saudi-UK aviation ties in London roundtable
Led by GACA President, the meeting featured the British Ministry of Transport, the SBJBC, and key aviation industry leaders.
Business
Company News
Latest News
AI revolutionizes real estate across GCC countries
Cities like Dubai and Riyadh are harnessing AI to redefine every facet of property dealings, from development to management, Tripler...
Business
GFH Capital mulls listing on Saudi market, says CEO
RIYADH, SAUDI ARABIA - GFH Capital is considering the offering of its unit in Saudi Arabia on the Tadawul. GFH...
Business
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Science
Robot maker dreams of turning sci-fi into reality
Ryo Yoshida's monster-sized drivable robot is hard to park and the $3-million price tag will crush most wallets.
- An imposing 14.7 feet high and weighing 7,716 pounds, "Archax" can be moved and operated by a pilot who clambers up to the high-tech cockpit.
- When manoeuvered in the vehicle mode, "Archax" is capable of moving at 10 kilometers (six miles) per hour, according to the company.
Economy
Saudi Arabia’s economy exceeds US$1trn mark
RIYADH, SAUDI ARABIA – The gross domestic product of the Kingdom exceeded US$1 trillion which displays strong progress towards meeting...
- This positive outcome is attributed to strong investment from the private and public sectors,
- Non-oil revenue growth, ongoing diversification, and economic resilience efforts has also helped.
Business
UAE, Saudi stock exchanges surpass Arab peers with $167bn in gains
Abu Dhabi, UAE -- The financial markets of the United Arab Emirates and Saudi Arabia topped the Arab stock exchanges...
- UAE achieved market gains of about $32.5 billion: $20.7 billion for the Abu Dhabi Securities Exchange (ADX) and $11.8 billion for the Dubai Financial Market (DFM).
- The Saudi Financial Market achieved market gains of about $134.1 billion with a rise in its market capitalization from $2.908 trillion to $3.04 trillion.