UHNWIs drive Dubai’s luxury real estate growth
"The ultra-high-net-worth individuals (UHNWIs) have transformative impact on the real estate market. These individuals, with their discerning tastes and substantial...
Opinion
Rise in remittances hikes demand for Jordanian dinar, says chamber of commerce
AMMAN, JORDAN – Rising remittances from the Kingdom’s citizens working abroad has contributed to increasing demand for Jordanian dinar. Exchange...
Economy
Business
Meta virtual money moves could include ‘Zuck Bucks’: Report
Facebook's parent company Meta is exploring the potential of digital money referred to internally as "Zuck Bucks" in a play...
- Meta abandoned its effort to create a global cryptocurrency -- first called Libra but eventually re-branded as Diem
- The founder and chief Mark Zuckerberg has spoken about the importance of e-commerce and financial tools to his vision for an immersive online world called the metaverse
Economy
Saudi Arabia hosts annual joint meetings of Arab financial institutions
The meetings are taking place under the patronage of the Custodian of the Two Holy Mosques and Saudi ruler King...
- The Arab financial institutions hold these annual meetings to review the performance of each entity and the topics on its agenda
- The meetings also reportedly contribute to financing development projects in vulnerable countries
Business
Samsung predicts 50% rise in Q1 profit
The company likely to release full results on April 28.
- Analysts said the forecast was likely driven by strong smartphone sales, but warned of an expected drop in profits in the memory chip division
- The coronavirus pandemic has wreaked havoc on the world economy, but it has helped many tech companies boom
Employee wellbeing key to unlock productivity
As business leaders are armed with the knowledge that hybrid working can form a part of the future, previously reluctant...
- In business, productivity is key to maximize the value organisations provide to customers, whether in increased output or commercial savings brought about by increased efficiency
- Now, finding new ways of doing business with customers is a reality for many organisations. That means the old metrics used to measure productivity may become irrelevantÂ
Business
Amazon tactics under US scanner
Amazon is accused of using merchant info for its own products.
- Former Amazon employees have said the online retail titan used data of other sellers on its platform without their permission
- Amazon gathered information about sales trends by third parties at its website to develop private-label products, said reports
Business
More checks needed as crypto scams hit all-time high
Blockchain expert Kim Grauer offers insights into why people fall prey to scammers, how they can protect their crypto assets...
- In 2021, cryptocurrency-based crime reached an all-time high, with criminal addresses receiving $14 billion.
- By the end of 2021, criminals had accumulated $11 billion in crypto from known sources, compared to $3 billion in 2020.
Business
Middle East and Africa may add 14 GW of wind power capacity
The Middle East and Africa can add 14 gigawatts of new wind power capacity in the next five years, according...
- Between 2022 and 2026, South Africa (5.4 GW), Egypt (2.2 GW), Morocco (1.8 GW) and Saudi Arabia (1.3 GW) would lead the new wind capacity addition
- The report said 2021 was the second-best year ever for the global wind industry after 2020 with almost 94 GW of capacity added
Economy
Foreign Direct Investment into UAE reaches $20.7 billion in 2021
UAE received $20.7 billion in Foreign Direct Investment in 2021, recording a 3.9 percent growth over 2020. The country’s FDI...
- The country’s FDI balance now stands at AED 630 billion ($171.6 billion) by the end of 2021, a 13.7 percent growth over 2020.
- UAE's outward FDI flows reached nearly AED 82.6 billion ($22.5 billion) in 2021, with an annual growth of 19.1 percent.
Business
Saudi Arabia to ban import of trucks older than five years
Saudi Arabia has declared a ban on the import of trucks older than five years in order to raise the...
- Saudi Arabia's Public Transport Authority said the decision will take effect on May 5, 2022
- It applies to all heavy transport trucks designed for transporting goods and includes locomotives, trailers, and semi-trailers
Business
Aramco, Saudi varsity sign MoU
An Artificial Intelligence center will be set up at King Abdullah University.
- The center will support research, development and marketing of advanced artificial intelligence technologies.
- It will combine leading innovations of digital transformation adopted by Saudi Aramco and the globally accredited academic excellence at KAUST.
UHNWIs drive Dubai’s luxury real estate growth
"The ultra-high-net-worth individuals (UHNWIs) have transformative impact on the real estate market. These individuals, with their discerning tastes and substantial...
Opinion
Company News
SALIC buys 10.7% stake in BRF
Business
ADIA acquires hotel portfolio
Business
Latest News
Abu Dhabi Oil Company to hike investment in UAE oil sector
Abu Dhabi, UAE--Abu Dhabi Oil Company (ADOC) is planning more investments and expansions in the UAE, according to a senior...
Business
Dubai must possess its distinct emblem, says new decree
Dubai, UAE - Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, issued Law No....
Geostrategy
Most Read
Business
US manufacturing beats expectations, slumps less in September
Washington, United States - US manufacturing activity contracted in September by the least since late 2022, beating analyst expectations despite weakness...
- The Institute for Supply Management's (ISM) manufacturing index came in better than anticipated at 49 percent last month, up from 47.6 percent in August.
- This was 1.0 percent above the median expectation of economists surveyed by MarketWatch, but below the 50 percent threshold indicating growth in the sector.
Business
DEWA commissions 200MW second unit in Al Maktoum Solar Park
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) commissioned the 200MW second unit of the parabolic basin complex in...
- It is set to provide clean energy for approximately 320,000 residences and reduce carbon emissions by 1.6 million tons annually.
- This phase uses the Independent Power Producer (IPP) model with investments of up to AED 15.78 billion ($4.30bn).
Business
SVC inks pact with IMPACT46
SVC is a government investment firm established in 2018.
- IMPACT46's Fund III will invest in Saudi growth-stage companies and up to pre-IPO stage businesses.
- The fund will allocate capital to seed-stage startups and promising startups from the broader Middle East region.