Dubai International Boat Show helps in marine business
DUBAI, UAE – Dubai International Boat Show has wrapped up following a hugely successful week of high-value boat sales, important...
Business
Iraq economy likely to grow this year, says IMF
BAGHDAD, IRAQ – Economic growth of the country is projected to continue amid fiscal expansion, an International Monetary Fund (IMF)...
Business
Business
KSA reports surge in digital payments in 2021, touching $34bn
Digital payments made through a mobile device accounted for 35 percent of all near-field communication transactions in Saudi Arabia in 2021,...
- The share of payment transactions made using a mobile device in all NFC payments grew from 22 percent in 2020
- The number of payment transactions using a mobile device in 2021 exceeded 1.8 billion, with the value exceeding SR128 billion
Geostrategy
France urges cooperation with Algeria after Russia-Ukraine crisis
France and Algeria have been attempting to improve their ties after a diplomatic crisis.
- Algeria is a major exporter of natural gas, which covers over 11 percent of Europe's needs, compared to the 47 percent from Russia
- European countries have been trying to ramp up Algerian exports to reduce their reliance on Russia after it invades Ukraine
Geostrategy
Swiss prosecutors probe Libyan gasoil ‘looting’
"A maritime gasoil smuggling network resulting from the looting of Libyan state oil refineries was allegedly carried out between 2014...
- "A maritime gasoil smuggling network resulting from the looting of Libyan state oil refineries was allegedly carried out between 2014 and 2015," Swiss state prosecutors said
- In an investigation published in March 2020, the NGOs Public Eye and TRIAL International accused Swiss traders Kolmar Group of being linked to the allegations
Business
FBI accuses North Korea hackers of $620m cryptocurrency heist
The hack, which last month targeted players of the popular game Axie Infinity, was one of the biggest to hit...
- Axie Infinity is a game where players can earn cryptocurrency through game play or trading their avatars
- Last month's theft came just weeks after thieves made off with around $320 million in a similar attack
Business
Brands track trends, behaviors of consumers in Gulf region
Brands have realised the importance of mobile advertising and smartphones and are utilizing them to capture the attention of target...
- Brands need to decide how much they should invest in which medium to make their voices heard by their potential customers
- 66 percent consumers generally do Ramadan shopping with their smartphones directly via mobile ads, researches suggest
Business
Twitter board considers Elon Musk takeover bid
Twitter's board said it would carefully review what it termed Elon Musk's ‘unsolicited, non-binding’ offer and decide on a course...
- The proposal faces uncertainty on multiple fronts, including possible rejection and the challenge of assembling the cash
- Meanwhile, it could have wide-reaching impacts on the social media service if Musk manages to buy the platform
Business
Petrobras names new CEO
Jose Mauro Coelho was appointed to the post for a one-year term.
- Jose Mauro Coelho is the third Petrobras CEO in just over a year after President Jair Bolsonaro fired his predecessors in a standoff over fuel prices
- He was the government's choice to succeed Joaquim Silva e Luna, who was ousted by Bolsonaro last month after slightly more than a year in the post
Business
Dubai records realty transactions worth $463m on Thursday
The Dubai real-estate market recorded total realty transactions worth over AED1.7 billion ($463 million) on Thursday, April 14.
- The transactions included 331 sales worth AED1.24 billion ($337.64 million), the DLD data showed
- They are also said to have included 77 mortgage deals worth AED390.84 million ($106.42 million)
Business
Abu Dhabi to host World Utilities Congress in May
Abu Dhabi will host World Utilities Congress in May, bringing together more than 10,000 global utilities professionals to explore topics...
- The World Utilities Congress will be held under the patronage of Sheikh Khaled bin Mohammed bin Zayed Al Nahyan
- The digitalization of the utilities sector will be delved deeper into at the conclave, with a dedicated strategic panel on Digital Transformation and Technological Innovations
Economy
Ecuador starts oil mining in protected area of Amazon rainforest
Current President Guillermo Lasso has plans to double Ecuador's oil production in spite of opposition from indigenous communities and environmentalists.
- Extraction of 3,600 barrels per day started in the Ishpingo oil field, one of the three oil fields containing more than 40 percent of country's crude.
- The three fields together hold over 1 billion of former OPEC member Ecuador's 4 billion barrels of proven oil reserves.
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
Dubai International Boat Show helps in marine business
DUBAI, UAE – Dubai International Boat Show has wrapped up following a hugely successful week of high-value boat sales, important...
Business
Company News
IDB inks pact with IRENA
Business
Ethmar net profit up $114m
Business
Latest News
EU businesses ‘questioning their position’ in China: trade official
The EU trade commissioner is in China to press the bloc's case that it is not seeking an economic decoupling...
Economy
UAE most competitive MENA economy
The 2023 IMD World Competitiveness Ranking placed the UAE among the world's 10 most competitive economies.
Infographics
Future100 secures 25 new partnerships to support emerging firms
Dubai, UAE -- Future100, a collaborative initiative between the Ministry of Economy and the Government Development and the Future Office,...
Business
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Economy
UAE and Indonesia pledge to enhance economic cooperation
Jakarta, Indonesia-- The UAE and Indonesia have discussed mechanisms to expand regional cooperation and opportunities for trade and investment cooperation...
- Speaking at the UAE-Indonesia Business Forum, Al Mazrouei reaffirmed the UAE's commitment to developing relations between the two countries
- The forum reviewed a number of economic and investment issues of common interest in the fields of energy, mining, tourism, real estate, and aviation
Geostrategy
Several UAE entities sign pact to implement ‘Sharjah Sat-2’
Sharjah, UAE -- A cooperation agreement was signed between the Sharjah Academy of Astronomy, Space Sciences & Technology (SAASST), the...
- Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and President of the University of Sharjah (UOS), witnessed the signing.
- The outcome of this project will help diverse parties in making decisions, developing future plans, and conducting scientific research.
Business
Qatar records real estate sales contracts worth $60 million
Doha, Qatar -- The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
- Total sales contracts for residential units in the Real Estate Bulletin for the period from 10 Sept. to 14 Sept. 2023, is QR 88.73 million.
- The volume of real estate trading in sales contracts between Sept. 3 and Sept. 7 reached more than QR 308 million.