Major stock markets trade mixed as US inflation data awaited
London, United Kingdom - Major stock markets traded mixed Thursday before the release of US inflation data that could present a...
Business
Egypt signs several MoUs with global developers in renewable energy
Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global...
Business
Business
Riyadh entrepreneurship meet sees big-buck deals
The Global Entrepreneurship Congress is expected to see 40 agreements being signed between government agencies and major corporations.
- Several government entities and large firms are expected to sign 40 agreements during the conference
- The Saudi Ministry of Investment has, during the event, granted four licenses to startups and a venture capital fund
Economy
KSA launches global campaign for its bid to host Expo 2030 Riyadh
Five countries, including Saudi Arabia, South Korea, Italy, Ukraine and Russia are in the reckoning for the 2030 World Expo.
- Five countries, including Saudi Arabia, South Korea, Italy, Ukraine and Russia are in the reckoning for the 2030 World Expo
- The letter announcing Riyadh’s intention to bid was submitted on October 29, 2021 on behalf of the crown prince Prince Mohammed bin Salman
Economy
UAE fast-tracking low-carbon economic growth: Dr Al Jaber
Speaking at the MENA Climate Week Dr. Al Jaber explained that the UAE is adopting a comprehensive, balanced and proactive...
- Speaking at the MENA Climate Week Dr. Al Jaber explained that the UAE is adopting a comprehensive, balanced and proactive approach to climate action
- He urged the international community to do more and fulfil the $100 billion climate pledge made to developing nations over a decade ago
Business
‘Trash has value’: Kenyan inventor turns plastic into bricks
Gjenge Makers, churns out 1,500 bricks made from industrial and household plastic that otherwise would be dumped in the city's...
- Gjenge Makers, churns out 1,500 bricks made from industrial and household plastic that otherwise would be dumped in the city's overflowing garbage heaps
- Plastic is fibrous in nature, and the unique production process prevents air pockets from forming within the bricks
Business
FedEx founder quits as CEO
Frederick Smith is stepping down after some five decades at the post.
- The change in guard will take place on June 1, with Smith becoming executive chairman
- Meanwhile, Chief Operating Officer Raj Subramaniam will ascend to president and CEO
Business
Sharjah Municipality permits food display in restaurants during Ramadan
The authorities will issue the necessary permits for this purpose, in accordance with hygiene conditions and preventive measures.
- The municipality confirmed has prepared all its relevant departments and teams to follow up on food preparation and serving facilities
- It has also allocated inspection teams to follow up whether the facilities were complying with the health and hygiene regulations
Economy
Gulf region will boost global clean energy security: Al Kaabi
Mubadala’s UAE Investment chief Musabbeh Al Kaabi said on Monday that the Gulf region will play an increasingly important role...
- Al Kaabi affirmed that governments must develop initiatives to mitigate supply chain challenges to meet net-zero carbon targets
- He noted that global energy security will extend beyond oil as the UAE and its neighbours’ transition to become leaders in clean energy production
Business
Kaspersky now a ‘security threat’
The designation will restrict its dealings in the United States.
- The US Federal Communications Commission has added Kaspersky to a threat list
- This effectively blocks the firm from being paid with certain US government subsidies
Interview
Smartphones, net speed fuel Saudi ecommerce boom
Pablo Martinez, Managing Director and Senior Partner at the Boston Consulting Group, sheds light on what lies ahead for the...
- In 2020, the Saudi ecommerce accounted for only 6% of overall retail sales, while major markets contributed 18%
- Only a small set of online retailers in influential cities of the kingdom offers same-day delivery, a standard in developed markets
Business
Oman, Sri Lanka to cooperate in economy, trade and investment
Oman and Sri Lanka have discussed economic and trade cooperation. In this connection, Saleh Said Masan, Undersecretary for Commerce and...
- The two sides explored aspects of the joint cooperation, economic diversification sectors and the investment and trade environment.
- They discussed aspects of cooperation in the economy and industry sectors, logistics, ports and investment opportunities in both countries.
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
Major stock markets trade mixed as US inflation data awaited
London, United Kingdom - Major stock markets traded mixed Thursday before the release of US inflation data that could present a...
Business
Company News
Latest News
Qatar Airways’ profits fall
Economy
EIH buys stake in Al Ain Pharmacy
Move aligns with EIH's aim to diversify sources of investment.
Business
Shares in Chinese property giant Evergrande plunge after employees’ arrest
Evergrande, the world's most-indebted property developer with an estimated debt of $328 billion (307 billion euros) at the end of...
Business
Most Read
Business
Emirates Health Services to adopt AI technology to boost hospital care services
Dubai, UAE-- Emirates Health Services will employ AI technology in the application of patient room monitoring system to further enhance...
- The partnership will leverage generative AI and implement the care.ai system across EHS healthcare facilities
- It will monitor the mental well-being of the patients, as well as help prevent and control infections and assess hygiene conditions
Business
Russian and Asian millionaires drive Dubai realty boom
Cryptocurrency magnates, Asian bankers, wealthy Russians, and government reforms are playing a crucial role in solidifying Dubai's global real estate...
- Cryptocurrency magnates, Asian bankers, wealthy Russians, and government reforms, are solidifying Dubai global real estate prominence, says a report
- Dubai promises investors a 7.34% return on apartments, benefiting from a US dollar-UAE dirham peg and no rental tax, outpacing London's 4.18% return
Videos
Realty sector’s success hinges on GDP growth
The kingdom’s Minister of Housing, Majid Al-Hogail recently said that Gulf country's residential real estate finance is expected to exceed...
- Saudi Arabia has unveiled the MENA region's inaugural real estate stock exchange, marking a transformative moment for property trade in the Kingdom.
- The Kingdom's residential real estate finance is expected to exceed 1.2 million contracts with a value of SR600 billion ($162 billion) by 2030.