IATA urges Pakistan, Bangladesh to release blocked airline funds
The International Air Transport Association on Tuesday urged Pakistan and Bangladesh to remove barriers to airlines repatriating ticket revenues after...
Business
Musk plans largest-ever supercomputer for xAI startup: report
Washington, United States - Billionaire tech mogul Elon Musk has told investors he plans to build a supercomputer dubbed "gigafactory of...
Business
Geostrategy
Russia eyes improved ties with Saudi Arabia, UAE
Putin and Arab leaders focus on boosting relations in various fields -- including technology, food security and energy -- during...
- Russia President Vladimir Putin and several Arab leaders stress on the importance of strengthening relations
- Relations in various fields -- including technology, food security and energy -- remain in focus during SPIEF 2022
Economy
DCCC holds talks on UAE-India free trade agreement
Dubai Customs Consultative Council held a meeting on the historic UAE-India Comprehensive Economic Partnership Agreement, expected to increase trade between...
- The UAE-India Comprehensive Economic Partnership Agreement is expected to increase trade between the two countries by 120 percent
- Due to CEPA, trade between the two countries is expected to reach US$100 billion within five years compared to US$45 billion currently
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
IATA urges Pakistan, Bangladesh to release blocked airline funds
The International Air Transport Association on Tuesday urged Pakistan and Bangladesh to remove barriers to airlines repatriating ticket revenues after...
Business
Company News
Gulf Hotels Group profit up
Business
Estithmar opens branches in Iraq
Business
Latest News
AD Ports Q2 revenue grows 66%
Business
Ma’aden, BADC ink agreement
Business
DEWA okays H1 dividend of $843m
The company had reported a net profit of $540 million for Q2.
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...
Business
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Business
Saudi exports, services grow by 135% in Q2: Economy Minister at FII7
Riyadh, Saudi Arabia -- Saudi Arabia's Minister of Economy and Planning, Faisal F Alibrahim said Tuesday the Kingdom saw a...
- Speaking at the seventh Future Investment Initiative forum in Riyadh, Alibrahim said Saudi Arabia is seeing a diverse range of sectors fueling non-oil activity growth.
- He said the Kingdom provided one of the most investment-friendly environments in the form of cost-effective and clean energy, legislations and manpower.
Business
RSG, KHC set up joint venture
The JV will develop and own the Four Seasons Resort Red Sea.
- The anticipated luxury resort is situated on Shura Island, the main hub for Red Sea destinations.
- It will offer 149 rooms and suites, plus 31 residential properties, as well as six restaurants and lounge outlets.
Business
Saudis need $100s of billions for power investment by 2030: ACWA Power CEO
Riyadh, Saudi Arabia - Saudi Arabia is set to embark on a significant endeavor to expand its power generation capacity,...
- Saudi Arabia aims to construct 60 to 80 gigawatts of power plants utilizing renewable energy sources such as wind and solar
- To facilitate these goals, Saudi Arabia seeks to attract international investment, fostering partnerships with local companies like ACWA Power