Sheikh Hamdan praises ADNOC’s efforts in using AI in production process
ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the...
Business
GASTAT issues FDI statistics of Saudi Arabia for Q4 2023
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) issued on Friday the Foreign Direct Investment (FDI) statistics for...
Economy
Business
Dubai watches with awe rare rough ruby
A rare rough ruby dubbed one of the world's biggest has gone on display for the first time ahead of...
- The 8,400-carat stone -- nicknamed Burj Alhamal and weighing 2.8 kilograms (over six pounds) -- was mined in Tanzania and made its debut at a Dubai hotel on Friday
- Local reports have suggested the rough ruby with greenish and dark-purple hues could fetch up to $120 million
Analysis
GCC exchanges recoup their losses
From the UAE to Saudi Arabia, the main indexes made up for their losses as the week came to a...
- The Abu Dhabi index fell 1.3 percent on Thursday, its biggest daily fall in more than a month
- The Dubai index on Monday climbed 1.3 percent to its highest in the previous two weeks
Economy
Over 1m medical tourists visit Iran in a year
Most patients come from neighboring countries including Iraq and Afghanistan, Head of the tourism office at Iran’s Ministry of Health...
- Most patients come from neighboring countries including Iraq and Afghanistan, Head of the tourism office at Iran’s Ministry of Health Mohammad Reza Tarjoman said
- Tarjoman said there are 200 medical centers that have permission to accept foreign patients underlining that Iran is ranked 46 worldwide in the area of health tourism
Opinion
Why few brands lag behind in sustainability game?
The best brands take a cross-functional approach, embedding sustainability within divisions and business units while linking incentives to sustainability targets....
- Winning brands decide which specific sustainability topics they want to use to actively engage with consumers
- To bring sustainability messages authentically to consumers, the best brands develop a sensitive consumer-engagement strategy
Business
Tunisia tourism revenues climb 48% to $200m by April 10
The country’s external debt services went up 5 percent, from nearly TND2 billion ($666.69 million) to about TND2.1 billion ($700.02...
- Cumulative labor income saw a 15.3-percent rise to TND1.9 billion ($633.71 million) on April 10
- This was against the TND1.6 billion ($533.42 million) on the same day in 2021
Business
Dubai saw weeklong real-estate transactions worth $2.12bn
The total number of real-estate transactions that took place was 1,968, according to data from the Dubai Land Department.
- The Land Department data showed the sale of 246 plots worth AED1.49 billion ($405.72 million) last week
- Meanwhile, 1,312 apartments and villas were sold for a total value of AED 2.96 billion ($805.99 million)
Business
Elon Musk’s move to buy Twitter faces roadblocks
Even for the richest person on the planet, buying Twitter was always going to be a challenge –- a highly...
- Even with a moderate and inflexible proposal, which could help the board argue for rejection, itthat could end in lawsuits from just about everyone involved
- Musk has the option of sidestepping the board and trying to buy shares directly from shareholders on the market
Business
Twitter throttles Musk bid
It is to ensure that he doesn’t get a controlling stake in Twitter.
- Elon Musk's proposed buyout faces several hazards, including possible rejection and the challenge of assembling the money
- Musk buying Twitter could have significant impacts on the globally-used social media platform if the deal is consummated
Business
Masdar and Kyrgyzstan to explore renewable energy projects
Masdar, one of the world’s leading renewable energy companies, has signed an agreement with Kyrgyzstan to explore the development of...
- Masdar will explore the development of investment in a range of renewable energy projects, including ground-mounted solar photovoltaic (PV), floating solar PV and hydropower
- Kyrgyzstan is targeting reducing greenhouse gas emissions by as much as 44 percent by 2030, and achieving carbon neutrality by 2050
Business
Saudi ports throughput tonnage rise by 7.18 percent during Q1
The throughput tonnage at Saudi ports increased by 7.18 percent during the first quarter of 2022, reaching a total of...
- The number of transshipment containers increased by 5.91 percent, with a total of 1.3 million TEUs.
- Saudi ports have recorded a fall in container throughput which declined by 1.27 percent with a total of 2.5 million containers.
Sheikh Hamdan praises ADNOC’s efforts in using AI in production process
ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the...
Business
Company News
Bank Albilad H1 profit up 14%
Business
Latest News
Google’s new phone to run AI on-device
At a launch event in New York, Rick Osterloh, SVP of devices and services at Google, said that the company's...
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Business
Farmers turn to solar power in Syria’s former breadbasket
Al-Haddadiya, Syria - At his farm in Syria's northeast, Abdullah al-Mohammed adjusts a large solar panel, one of hundreds that have...
- Solar energy has offered a lifeline for the farmers amid drought and power shortages, but some warn the boom also has environmental costs in the once-fertile region
- "We are trying to revive our land," despite dwindling groundwater reserves, said Mohammed, 38, as he oriented the panel towards the sun near his cotton fields.
Business
QatarEnergy awarded new Egypt offshore exploration block
Doha, Qatar -- QatarEnergy has been awarded a new exploration block offshore Egypt as part of the 2022 EGAS International...
- The block EGY-MED-E8 (East Port Said) was awarded to a consortium comprising of QatarEnergy (33 percent), ENI (Operator, 34 percent) and BP (33 percent).
- Qatar has a total of four offshore exploration blocks, including interests in Red Sea Block 3 and Block 4.
Business
Baker Hughes bags 400m ADNOC award
Baker Huhges will supply all-electric compression systems.
- The systems are meant for liquefaction of natural gas, to be powered by clean energy, for ADNOC's low-carbon LNG asset in the Al Ruwais Industrial City, Al Dhafrah.
- The LNG trains will comprise energy-efficient Baker Hughes technology, including compressors, driven by 75 MW electric motors.