EU queries Meta about ad-free subscriptions, shadow banning
BRUSSELS, BELGIUM - The EU on Friday used new regulatory powers to query Meta about ad-free subscriptions to Facebook and Instagram as...
Business
Business
President of Jordan Chambers praises reforms to boost business
President of the Jordan and Amman Chambers of Industry Fathi Jaghbir said Saturday that the National trade window to facilitate...
- Trade facilitation window had helped to reduce the time for clearance and boost the competitiveness of sectors, he said
- Single window for trade carries out the logistical measures of the Customs Department and other entities on clearance and export
Business
Real estate trade volume in Amman $1.6 billion by March end
The total real estate trading volume in Jordan by the end of March reached JD 1.414 billion ($1.6 billion). The...
- Iraqi investors ranked first with a total of 202 real estate sales and Saudi second with a total of 194 sales among non-Jordanian investors.
- Real estate sales in Amman were distributed over 6,077 apartments and 8,265,000 plots of land.
Business
Almarai posts $112m profit in Q1
The Saudi dairy company recorded 9% jump in net profit.
- The Saudi dairy giant posted the jump in profit for the first quarter of 2022 on the back of higher revenue
- Results were attributed to a hike in revenue of 23.6 percent and gross profit of 7.8 percent, even as selling and administration expenses went up
Business
Abu Dhabi grants Binance approval to operate in emirate
Abu Dhabi has allowed Binance, the world’s leading blockchain and cryptocurrency infrastructure provider, to operate as a broker-dealer in virtual...
- The company has received approval from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM)
- Upon the successful completion of its ADGM FSRA application, Binance will then be able to offer its services regarding virtual asset offerings to customers across the MENA region
Science
First private mission reaches International Space Station
Axiom sees the voyages as the first steps of a grander goal: to build its own private space station. The...
- NASA join hands with Axiom and SpaceX to focus on more ambitious voyages deeper into the cosmos
- ISS will carry out 25 research projects, including an MIT technology demonstration of smart tiles
Analysis
GCC keeps pace with global solar, wind trends
Countries like the UAE, Saudi Arabia, and Oman appear on track to take giant strides in diversifying their portfolios when...
- Across the greater MENA region, Yemen, Jordan, Turkey, and Morocco have generated more than 10 percent of their power from solar and wind
- However, things appear poised to change very soon, with several projects that may improve the region’s overall renewable outlook
Business
Elon Musk asks: ‘Is Twitter dying?’
He also called out users who are highly followed but rarely post.
- Tesla founder Elon Musk recently disclosed that he had acquired a more-than-9-percent stake in Twitter
- This made him Twitter’s largest shareholder, and so the social media company named him to the board
Opinion
Successful acquirers make insurgent assets unique
Incumbent brands need small-brand deals to recapture top-line growth and boost total shareholder return. While challenging to get right, these...
- Despite an overall annual market growth of 4% from 2012 to 2019, the 30 largest consumer goods companies grew less than 1%, a growth gap further widened by Covid-19
- Prior to the pandemic, insurgent brands captured more than 30% of the growth across the categories in which they exist, despite accounting for only 3% of the market share
Business
Spurred by higher oil prices, GCC indices post gains this week
The GCC's main indices closed higher toward the end of week, spurred by higher oil prices. The Saudi index "TASI"...
- The Saudi index "TASI" reached 13,314 points, achieving an increase of 0.4 percent on Thursday, its last trading day
- the Dubai index increased by 0.2 percent during the week as the sentiment cooled
Business
Abu Dhabi launches drive to keep infected Kinder products away
The Abu Dhabi Agriculture and Food Safety Authority (ADAFSA) has said that the Abu Dhabi's markets are completely free of...
- The Authority's inspectors checked Abu Dhabi's markets to ensure whether suspected products were identified in the alert or not
- It also coordinated with suppliers and food facilities and contacted the local agent "Ferrero" in UAE
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
Company News
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Invictus plans $272m expansion
Business
Securiguard Middle East renews contract
Firm won $109 million contract extending over four years.
Business
UAE stocks generate strong cash flows as DFM hits 8-month high
Abu Dhabi, UAE--UAE stock markets Thursday continued to capitalize on improved investor sentiments, defying US Fed's decision to keep interest...
Business
Microsoft to offer OpenAI’s Dall-E 3 in Bing
Microsoft has bet big on AI, notably with a $10-billion envelope dedicated to its partnership with OpenAI, and is now...
Business
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Business
YouTube announces new AI products for content creation with focus on MENA
New York, United States - YouTube has unveiled a suite of innovative AI-powered tools aimed at revolutionizing the world of...
- The AI-driven capabilities promise to unleash new avenues of creative expression, simplify the content creation, and extend the reach of YouTube creators
- YouTube is also rolling out "Aloud," an AI-powered dubbing tool aimed at enabling creators to reach audiences beyond their primary language
Business
Yahsat bags $5.1 bn satellite capacity contract from UAE govt
Dubai, UAE - Yahsat Government Solutions (YGS), the government services arm of Yahsat has been awarded $5.1 billion satellite capacity...
- The development reinforces Yahsat's long-standing partnership with the UAE Government, extending back nearly two decades since the company's inception
- The contract boosts the Group's contracted future revenues to AED 25.7 billion (USD 7.0 billion), providing financial stability and visibility well into the future
In war-scarred Iraqi city, food business gives women independence
Only slightly more than 10 percent of Iraq's 13 million women of working age are in the job market, according...
- Abir Jassem is now one of some 30 employees of "Taste of Mosul", which celebrates local delicacies and was founded in 2017 after northern Iraqi metropolis was liberated from IS
- Launched with just two cooks, the initiative has since grown and most of the workers -- cooks as well as two deliverywomen -- are widowed or divorced