Dubai SME, Danube Group partner to aid Emirati-owned SMEs
Dubai, UAE – Danube Group, a leading conglomerate in the Middle East and Dubai SME, a subsidiary of the Dubai...
Business
Algeria signs gas field deal with oil giant ExxonMobil
Algiers, Algeria - Algeria's state oil company announced Thursday it signed a memorandum with ExxonMobil to develop two gas fields, a...
Business
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
Economy
CBJ asks local banks not to change interest rates on loans
The Central Bank of Jordan issues a circular asking local banks not to change interest rates on loans to individuals....
- The Central Bank of Jordan issues a circular asking local banks not to change interest rates on loans to individuals
- CBJ’s decision comes in light of the current changes to interest rates and to ease the burden of repaying loans for individuals
Business
WTO to lift Covid vaccine patents, but many doubt it will work
The World Trade Organization agreed Friday to temporarily lift patents on Covid-19 vaccines after two years of bruising negotiations, but...
- The unprecedented agreement, sealed by all 164 WTO members after late-night overtime talks, will grant developing countries the right to produce Covid vaccines for five years
- Under the terms of the new deal, WTO members have six months to decide on whether to extend the measures "to cover the production and supply of Covid-19 diagnostics and therapeutic
Business
TikTok says Oracle to keep US user data safe
TikTok on Friday said Oracle will store all the data from its US users, in a bid to allay fears...
- ByteDance employees have repeatedly accessed information about US TikTok users, according to a Buzzfeed news report
- TikTok has been adamant that it has never given US user data to Chinese officials and that it would refuse if asked to do so
Business
Gulf equities fall, imitating global stock markets
Equities in the Middle East imitated the global stock markets, falling as central banks raised interest rates to fight off...
- The UAE and Saudi central banks raised interest rates, hours after US Federal reserve increased its rate, the highest in nearly 30 years
- Financial and energy sector shares dipped sharply, dragging down the Saudi Stock Exchange's main index by 2.2 percent on Sunday
Economy
Halal tourism eyes recovery as COVID-19 norms ease
The recovery process of the sector remains fragile and could be disrupted by the ongoing war in Ukraine, fuel price...
- The recovery process of the sector may get disrupted by the ongoing Ukraine war, fuel price rise, and other potential health threats, say experts.
- The pre-pandemic projection of 230 million arrivals by 2026 will now be reached in 2028 with an estimated expenditure of USD$225 billion, they add.
Business
UAE industry leaders attend program on AI industry applications
The second edition of Industry 4.0 and AI for Industrial Leaders that saw the participation of industry leaders in the...
- The Industry 4.0 and AI for Industrial Leaders is collaboration between Ministry of Industry and Advanced Technology and Mohamed bin Zayed University of Artificial Intelligence.
- The program provides decision makers with the necessary technical knowledge to harness the power of AI in industry by determining optimum 4IR adoption strategies.
Economy
Venezuelan President calls on Qataris to invest in his country
President of Venezuela Nicolas Maduro, called on Qatari businessmen to invest in his country, to enjoy the benefits offered by...
- President of Venezuela Nicolas Maduro reviewed opportunities for tourism and investment cooperation
- Maduro said his government has developed plans to promote 18 vital sectors for the economy
Economy
UAE highly values intellectual property system, fosters innovation: Al Marri
The UAE attaches great importance to developing the intellectual property (IP) system and encouraging innovators and creators and the country...
- UAE Minister of Economy Abdullah bin Touq Al Marri stated this during meetings with World Intellectual Property Organisation, UNCTAD, WEF officials.
- The meetings were held on the sidelines of the UAE's participation in WTO's 12th Ministerial Conference (MC12) held recently in Geneva, Switzerland.
Dubai SME, Danube Group partner to aid Emirati-owned SMEs
Dubai, UAE – Danube Group, a leading conglomerate in the Middle East and Dubai SME, a subsidiary of the Dubai...
Business
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AD Ports Q2 revenue grows 66%
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Ma’aden, BADC ink agreement
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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...
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Economy
China’s GDP rises above forecasts, boosted by robust recovery efforts
BEIJING, CHINA - China's Gross Domestic Product (GDP) grew by 4.9 percent year-on-year in the third quarter, surpassing economists' predictions...
- Analysts believe China is on track to meet its annual growth target of approximately 5 percent this year.
- Data from China’s National Bureau of Statistics revealed a 5.2 percent growth for the first three quarters.
Business
Al Seer Marine, L3Harris renew pact
They have partnered with each other for the past six years.
- Al Seer Marine said the renewal of this new agreement will capitalize on L3Harris' extensive international experience in the design and deployment of uncrewed platforms.
- It will also enhance Al Seer Marine's ability to continue manufacturing and delivering Unmanned Surface Vessels (USV) across various markets in the Gulf Cooperation Council region.
Microsoft announces $3.2 billion investment in Australia
Details of the deal were outlined by bosses at the US tech giant and by Australia's prime minister, Anthony Albanese,...
- The tech giant will expand its "hyperscale" cloud computing and AI infrastructure in Australia over the next two years
- Details of the deal were outlined by bosses at the US tech giant and by Australia's prime minister, Anthony Albanese