JPMorgan to launch ‘Pay With Your Face’ Shopping
JPMorgan Chase is reportedly preparing to launch a biometric payments system for the masses, the Daily Hodl reported quoting the American...
Business
Saudi Arabia partners with Microsoft Arabia for AI use in media
Riyadh, Saudi Arabia - The Ministry of Media and Microsoft Arabia signed a memorandum of understanding (MoU) in Riyadh on...
Business
Business
ConocoPhillips third to join Qatar’s mega gas expansion
ConocoPhillips' chunk of the North Field East project is half the size of France's TotalEnergies, which has a 6.25 percent...
- No figure for the value of the deal was given but TotalEnergies previously said it had paid $2 billion for its joint venture.
- The expansion of the North Field, which has the world's biggest known natural gas reserves, is estimated to cost more than $28 billion.
Business
Expo City Dubai to open on 1 Oct, will house HQ of DP World
Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum said the Expo site will be transformed into Expo City Dubai, which...
- The new city will continue to host the pavilions of Saudi Arabia, Morocco, Egypt and will be the first WELL-certified community in the region.
- Three of Expo 2020’s most visited attractions-- Al Wasl Plaza, the Garden in the Sky observation tower and the Surreal water feature--will remain.
Business
CNN, IMI partner to launch CNN Business Arabic
The news channel will combine the digital first knowledge within the IMI group with the brand recognition and newsgathering capabilities...
- The news channel will combine the digital first knowledge within the IMI group with the brand recognition and newsgathering capabilities of CNN
- The channel will join a network of ten existing CNN-branded partners which operate under license in countries around the world
Economy
China’s import of oil from Russia jumps 55% in May
The world's second-biggest economy imported around 8.42 million tons of oil from Russia last month.
- The world's second-biggest economy imported around 8.42 million tons of oil from Russia last month
- The number was also a spike from the 5.44 million tons China imported in May 2021
Business
EU terms blockade of Ukraine grain by Russia ‘real war crime’
EU foreign policy chief Josep Borrell said Monday that Russia should be held "accountable" if it keeps blocking the export...
- Western countries have demanded Moscow to stop blockading Ukraine's Black Sea ports to allow grain export
- French Foreign Minister insisted that "Russia must stop playing with global hunger" as it seeks leverage on the West
Business
DP World, Saudi Ports Authority to establish Jeddah Logistics Park
The port-centric park will boost Jeddah Islamic Port’s re-export activities and reduce the time and cost of logistics for importers...
- The port-centric park will boost Jeddah Islamic Port’s re-export activities and reduce the time and cost of logistics for importers and exporters
- It will also offer processing, labelling, fulfilment, consolidation, de-consolidation, and temperature-controlled storage for cargo
Business
Aramco sets up digital industries
It has tied up with Cognite to bolster digitization in MENA.
- The alliance announced the launch of CNTXT, which will be headquartered in Riyadh
- CNTXT will support industrial digitalization in Saudi Arabia and the wider MENA region
Interview
Luxury brands in GCC look to metaverse for expansion
Virtual fashion and technologies will enable us to reduce our carbon footprints and the strain on the planet. Fashion firms...
- Despite the benefits of the metaverse world to the fashion industry, the technology still is in its early stages
- Brands should be cautious of many scammers in this world as there are numerous grabbers and a lot of fraud going on
Business
Ajman DoF adopts Oracle cloud-based management system
Ajman's Department of Finance (DoF) has teamed up with Oracle to adopt a cloud-based resource management system that enables more...
- The upgrade is part of the emirate's commitment to further improve operations and services and promote the digital transformation of the emirate
- Ajman’s DoF’s migration to Oracle Fusion Cloud Applications is expected to increase productivity, reduce costs, improve controls, optimize supply chain management
Economy
UAE to attract super rich, say investment trends
One big factor for more HNWIs making their way to the UAE is the ongoing war in Ukraine which has...
- The UAE tops the list of the ten countries drawing net inflows of the wealthy in 2022, followed by Australia, Singapore and Israel
- The report titled "The flow of the world's wealthy in the second half of 2022", tracks private wealth and investment migration trends worldwide
JPMorgan to launch ‘Pay With Your Face’ Shopping
JPMorgan Chase is reportedly preparing to launch a biometric payments system for the masses, the Daily Hodl reported quoting the American...
Business
Company News
APIC H1 net profit down 39%
Business
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Gulf Hotels Group profit up
Business
Estithmar opens branches in Iraq
Business
RCU inks pact with Artefact, Dassault Systèmes for AI, digital solutions
ALULA, SAUDI ARABIA – The Royal Commission for AlUla (RCU) has reinforced its commitment to technology innovation and cutting-edge digital...
Business
General Motors Q3 profit surge
Revenues rose five percent to $44.1 billion, the company said.
Business
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Business
DEWA okays H1 dividend of $843m
The company had reported a net profit of $540 million for Q2.
- The Board of Directors of DEWA authorized the payment of H1 2023 dividend on 10th August 2023.
- On 26th October 2023, the dividend will be paid to all shareholders via Dubai CSD.
Business
Saudi Electricity Company signs $3 billion financing agreement
Riyadh, Saudi Arabia -- The Saudi Electricity Company (SEC) announced today signing a $3 billion (SAR 11.25 billion) international syndicated...
- The financing agreement has a tenure of five years and requires no guarantees from the SEC.
- Participating banks include Dubai Islamic Bank, Kuwait Finance House, Mashreq Bank and Saudi National Bank.
Business
Aramco, ENOWA ink pact
The firms will jointly establish an e-fuel demonstration plant.
- The e-fuel technology has the potential to reduce CO2 emissions by over 70 percent on a complete life cycle basis.
- The integrated facility will generate 12 tons of synthetic methanol per day from green hydrogen and CO2, using proprietary technologies.