Meta chief discusses AI risks with Japan PM during Asia tour
The 39-year-old mixed business with pleasure while in Japan, going skiing with his family and learning about sword-making from a...
Business
Business
Friendly policies woo major crypto firms to Dubai
The emirate's Virtual Asset Regulatory Authority governs cryptocurrency trade through a comprehensive set of legislations and globally applicable policy frameworks.
- Dubai's VA Exchange License allows FTX to be the first to provide regulated trading and clearing services for crypto-specific derivatives.
- The UAE is the third-largest crypto market in the region, trailing Turkey and Lebanon.
Business
UAE to boost cybersecurity ecosystem in cooperation with Huawei
The parties will jointly establish a Cybersecurity Center of Excellence to deliver talent training that addresses the cybersecurity capacity-building needs.
- Both parties have agreed to work together in building visibility and promoting thought leadership in the area of cybersecurity.
- They will also cooperate in the field of cybersecurity research and development through an independent think tank that both parties will establish.
Business
DET of Dubai and du launch Digital Business Hub
The Department of Economy and Tourism (DET) in Dubai and du, from Emirates Integrated Telecommunications Company (EITC), have opened the...
- This will reportedly help to provide value-added services and facilitate doing business
- It would contribute to enhancing the competitiveness and sustainability of Dubai's business sectors
Business
ADQ and Turkey Wealth Fund set up a venture capital fund
ADQ of Abu Dhabi has partnered with Turkey Wealth Fund to launch Turkey Technology Fund that will invest in venture...
- ADQ and TWF established the fund to undertake investments in high-growth, Turkish start-ups with innovative business models
- Turkey Technology Fund – ADQ TWF will invest in companies developing emerging technologies or improving existing technologies in significant sectors such as energy and utilities
Business
A cruise ship lifts up spirits in Tunisia
A cruise ship docked in a Tunisian port on Wednesday for the first time since 2019, carrying over 700 passengers...
- The Spirit of Discovery, run by UK operator Saga, landed at La Goulette port on the edge of Tunis where it was welcomed by camels and a band playing traditional Tunisian music
- The ship was carrying 724 passengers, mostly British but also German, Italian and Spanish, according to Tourism Minister Moez Belhassen
Business
Hub71 startups secure $408m in investments since inception in 2019
Hub71, Abu Dhabi’s global tech ecosystem, said on Wednesday that its startup community secured AED 30 million ($8.1m) in 2021...
- Hub71 boasts startups from 25 nations across 18 diverse sectors, ranging from FinTech, Robotics, AI & Big Data to HealthTech, AgTech and Cybersecurity.
- About 1,000 jobs were created, while the aggregate valuation of the startups soared to AED5.87 billion, the hub said in a report.
Business
Dubai posts real estate transactions worth $413 million on Tuesday
Dubai’s real estate market recorded 474 sales transactions worth AED1.52 billion ($413 million) and mortgage deals of AED441.56 million, in...
- Mortgage deals amounted to AED441.56 million and 11 gift transactions to AED27.4 million, according to Dubai Land Department.
- During the week ending 18 March, the emirate recorded $2.53 billion worth of real estate and properties transactions.
Business
Saudi land bridge linking up east with west to cost $26bn
A land bridge linking up the western part of Saudi Arabia with its eastern region will cost some $26 billion...
- According to the minister of transport and logistics, Saleh Al-Jasser, the money will go into building infrastructure and trains
- The contracts will be signed within a year, and the implementation of the project will take 5 to 7 years, Al-Jasser said
Science
The scientists helping farmers kick the chemical habit
Researchers are considering a mutual fund to compensate farmers in the event of losses linked to the reduction of synthetic...
- Researchers are considering a mutual fund to compensate farmers in the event of losses linked to the reduction of synthetic fertilizers and pesticides
- According to World Vegetable Center, farmers in Vietnam, Laos and Cambodia have been misusing harmful pesticides
Business
Shuaa Capital of Dubai sets up $250m venture debt fund
Shuaa Capital, the Dubai-based fund manager, has set up a $250 million venture debt fund in order to shore up...
- According to the company, the Shariah fund, to be listed in Abu Dhabi’s market, will focus on technology ventures “seeking alternative sources of capital”
- Early-stage businesses are dominating investments with VC funding to the Middle East and North Africa startups soaring to $2.6 billion in 2021
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Business
Saudi Catering, RSG ink pacts
Business
Latest News
Tesco picks new chairman
Business
Google gives select companies access to its Gemini AI
The company plans to make Gemini available through its Google Cloud Vertex AI service, and will offer access to models...
Business
MEA brands focus on personalized customer experience
"Post-Covid GCC travel trends are promising: about 50% of customers plan to increase digital spending in travel and retail. With...
Opinion
Oil prices at a crossroads as production cuts persist
Oil stocks drop as Saudi Arabia and Russia extend a 1.3 million barrel per day oil supply reduction, leading to...
Business
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Geostrategy
UAE, China’s Hainan Province ink multiple deals to boost trade, economic ties
DUBAI, UAE - The UAE and China's Hainan Province have signed four major private-sector agreements aimed at boosting the rapidly...
- UAE Minister of State for Foreign Trade promoted the country’s unrivalled access to global markets, which have been enhanced by CEPA program.
- He highlighted the growing relationship between Hainan and the UAE, which resulted in bilateral non-oil trade doubling in 2022 to reach $900 million.
Business
Chimera launches Lunate
Lunate has more than $50bn in Assets Under Management.
- With a focus on private markets, Lunate is an independent entity owned by Chimera Investment and Lunate’s senior management.
- Lunate, which will be based in Abu Dhabi Global Market, has signed long-term Separate Managed Accounts (SMAs) with multiple clients.
Business
Qatar’s Hamad International Airport named world’s second-best
London, United Kingdom -- Qatar's Hamad International Airport has been named as the best airport in the Middle East, and...
- At this year's Business Traveller Awards, the airport was also named as the best in the Middle East.
- After a multi-billion-dollar overhaul last year, the airport raised its capacity from 40 million passengers a year to 58 million.