QDB signs MoU with Global Ventures
The collaboration is expected to boost private sector in Qatar.
Business
AI the new obsession for venture capital investing
Stung by the struggles of cryptocurrency and other faded Silicon Valley fads of recent years, venture capitalists have quickly doubled...
Business
Warner Music Group buys out Qanawat Music
Warner Music Group has bought out Qanawat Music, the Middle East and North Africa’s leading music distributor, for an undisclosed...
- This comes as part of the multinational entertainment and record label conglomerate's plans
- Qanawat Music will act as WMG's key domestic distributor and source of upstreaming opportunities
Business
ADNOC to collaborate with Germany for clean hydrogen
Abu Dhabi National Oil Company (ADNOC) has entered into a partnership with German counterparts to speed up collaboration in clean...
- The agreements were announced during the visit of Dr. Robert Habeck, German Federal Minister for Economic Affairs and Climate Action, to the UAE
- As part of its ambitious decarbonisation drive, the German government’s National Hydrogen Strategy expects clean hydrogen demand of up to 3 million tonnes per annum (Mtpa) by 2030
Economy
90 percent of Arab transactions made in six currencies: AMF director general
Six currencies account for 90 percent of transactions in the Arab world, said Dr. Abdulrahman bin Abdullah Al Hamidy, Director-General...
- The currencies are the Emirati Dirham, the Saudi Riyal, the Egyptian Pound, the Jordanian Dinar, the US Dollar and the Euro.
- Buna Payment Platform is the first regional cross-border and multi-currency payment system that supports Arab transactions in investment: AMF
Business
Aramco to launch new projects
Aramco will start 140 new projects in the next three years.
- Murad Al-Sayed said the registration mechanism will be presented to contractors interested in becoming a part of Aramco’s list of qualified contractors
- It has so far contributed to raising the local content in the company’s different projects from 35 to 60 percent, he added
Business
Qatar Airways rebuffs Airbus $220m compensation claim
Qatar Airways has denied that it owes Airbus $220 million in compensation for the rejected A350 aircraft. The Gulf carrier...
- It argues that Airbus has not provided clear guidelines on how it has arrived at the figure
- In response to this, Airbus has canceled orders for two A350s and a separate order of 50 smaller planes, A321s
Business
Mubadala, Aris Gold sign agreement
The pact is meant for operation of Soto Norte Gold Project in Colombia.
- Through a joint venture company, Aris Gold will acquire a 20 percent ownership interest in Sociedad Minera de Santander SAS and Sociedad Minera Calvista Colombia.
- On closing, Aris Gold and Mubadala will enter into a comprehensive agreement to govern the joint venture company.
Business
US drought pushes cotton prices to ten-year high
The plant fiber reached $1.3171 per pound (about 453 grams) on the key US futures contract, the highest since July...
- The plant fiber reached $1.3171 per pound (about 453 grams) on the key US futures contract, the highest since July 2011
- Rainfall has been exceptionally low since early January in the northwest part of Texas which produces about 40 percent of all US cotton production
Geostrategy
Kuwait, KSA agree on plan to develop joint offshore gas field
The project is a joint endeavor between the Saudi-based Aramco Gulf Operations Company and Kuwait Gulf Oil Company.
- The project is a joint endeavor between the Saudi-based Aramco Gulf Operations Company and Kuwait Gulf Oil Company
- The gas output will be divided evenly between the Gulf Arab neighbors, at a time where soaring consumption has led to growing demand for energy in the two countries
Business
Debt-ridden Evergrande urges investor ‘caution’ as audit result delayed
Evergrande has urged its investors to exercise caution as debt-ridden Chinese giant faces financial challenges.
- Evergrande has urged its investors to exercise caution as debt-ridden Chinese giant faces financial challenges
- Earlier, IMF warned that the property funding crisis could affect the broader economy and global markets
Science
April 2 will be first day of Ramadan: International Astronomical Center
It will be possible to see the crescent with a telescope, but not the naked eye, from parts of the...
- Seeing the crescent on Friday, April 1, is not possible with the naked eye from anywhere in the Islamic world
- It can be viewed only through a telescope, but with great difficulty, from parts of Africa and the Americas
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
QDB signs MoU with Global Ventures
The collaboration is expected to boost private sector in Qatar.
Business
Company News
Latest News
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...
Business
Dubai real estate transactions worth over $3.4bn in week ending September 15
DUBAI, UAE - A total of 2,329 real estate transactions worth over US$3.4 billion (AED 12.7 billion) were conducted during...
Business
Turkey-China nuclear power plant deal possible soon: Minister
Dubai, UAE -- The talks between Turkey and China to build a nuclear power plant in eastern Thrace are progressing and...
Business
Most Read
Geostrategy
Transfer of Iran’s unfrozen foreign assets to Qatari banks soon
TEHRAN, IRAN – The foreign minister of Qatar said the procedures for the transfer of Iran’s unfrozen foreign assets to...
- Qatar has been a mediator in talks that led to a prisoner exchange deal between Iran and the United States.
- The deal involves the release of five prisoners from each side and the unfreezing of some US$6 billion worth of Iranian funds.
Business
Lumi IPO 11.5 times oversubscribed
The daylong retail offering saw 124,900 investors subscribe.
- The number of shares allocated to retail investors reached 1.65 million, representing 10 percent of the total IPO shares.
- Lumi floated 16.5 million shares, or 30 percent of its SAR 550 million capital, divided into 55 million shares, on Tadawul.
Apple to update iPhone 12 in France over radiation
Both the firm and France's digital minister Jean-Noel Barrot insisted on Friday there was no danger to public health from...
- France had ordered a halt to sales of the device on Tuesday after finding that the model emitted more electromagnetic waves than permitted
- "Apple has assured me that it will implement an update for the iPhone 12 in the next few days," said digital minister Jean-Noel Barrot in a statement