Abu Dhabi Chamber and UAEIIC team up to boost investment
Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council...
Business
Lapita sees surge in leisure and wedding bookings in 2023
Dubai, UAE--Lapita, Dubai Parks and Resorts, has reported a surge in demand, bookings from across leisure and corporate segment last...
Business
Research
Soaring global urban tech market to benefit KSA: Mastercard report
The paper has shone a spotlight on how Saudi Arabia’s e-government, tourism, healthcare, and transit sectors stand to benefit from...
- The paper has shone a spotlight on how Saudi Arabia’s e-government, tourism, healthcare, and transit sectors stand to benefit from the smart city revolution in the Kingdom
- The paper highlights 5G, Wi-Fi 6, cloud computing, virtual reality and geospatial technology as focus areas for digital infrastructure to develop cities
Interview
Regional brands may fill gaps in activewear market
Succeeding for a female entrepreneur in an industry dominated by men is a tough task but can be achieved, says...
- It was now or never for the Arab entrepreneur Nathaly Daou who launched her activewear brand NatUsual soon after 2020 Beirut blasts
- Daou had to navigate many roadblocks to not only launch but protect the brand at a time when many went out of business
Opinion
Tips for family businesses in private equity model
Unlike many family businesses, successful private equity owners do not wait and hope for everything to go according to plan. ...
- Private equity firms regularly update the overall strategy and plans of their portfolio companies based on transparently shared info about the business and the market changes.
- Also, successful private equity owners always have a Plan B in place to respond to performance screwups and changes in the business environment quickly and decisively.
Business
Saudi deposits $5bn in Egypt, plans to invest double: State media
The Egyptian and Saudi governments have signed a draft agreement for Saudi investments in the country totaling a projected $10...
- The announcements come as the North African country enacts a slate of financial measures to mitigate the economic fallout of Russia's invasion of Ukraine.
- As the world's largest importer of wheat, Egypt relied on the two countries for 85 percent of its supply, as well as 73 percent of its sunflower oil.
Business
Evergrande to sell stake
The developer would sell the Crystal City Project in Hangzhou for 3.66 bn yuan.
- Its total liability is now $300 billion as the company has struggled to repay its investors and bondholders.
- The company has said said it would finish projects and deliver them to buyers in a desperate bid to salvage its debts.
Business
German businesses urged to explore investment opportunities in Sharjah
The Sharjah Chamber of Commerce and Industry (SCCI) has called on German businessmen and investors to explore investment opportunities within...
- A German business delegation attended a forum organized by the Sharjah Chamber of Commerce and Industry.
- Gulf Cooperation Council (GCC) countries are the seventh-largest export destination for German industry outside Europe.
Business
Dubai Municipality to tap into Metaverse gains in pursuit of futuristic goals
Dubai Municipality will work with private sector companies and investors to create a futuristic, human-centered version of the city that...
- As the next big market opportunity, the metaverse could provide nearly US$800 billion in revenue by 2024, Bloomberg Intelligence estimates show.
- The city would provide simulated time travel to historic moments, or immersive tours of landmark destinations, Dubai Municipality said.
Arts & Culture
Opponents bury FIFA’s biennial World Cup campaign
The biennial World Cup has been left off the agenda of FIFA Congress in Doha, with only changes to the...
- An idea to enlarge Europe's League of Nations to take in South American countries has also been mooted.
- FIFA launched a massive campaign to persuade its members that a World Cup every two years would bring them extra cash and prestige.
Business
UAE’s first crypto exchange BitOasis gets provisional nod from VARA
BitOasis, a UAE-based Virtual Asset Service Provider (VASP), said on Wednesday it has received provisional approval from Dubai’s Virtual Assets...
- In the meantime, the company said it will undertake the process of applying for a license in accordance with the VARA requirements.
- To date, the company has transacted over $4bn in virtual asset transactions on its platform, with approximately $1.7bn being transacted in 2021.
Business
$1.59 bn worth of deals signed on Day 3 of Global Entrepreneurship Conference
On the third day of the Global Entrepreneurship Congress (GEC) in Riyadh, SAR 6 billion ($1.59 bn) worth of agreements...
- The Small and Medium Enterprises Financing Guarantee Program “Kafalah" signed a number of agreements with a number of ministries as well as public and private sector institutions.
- Monsha'at) also signed various cooperation agreements and launched National Industrial Development and Logistics Program “Thousand Mile” Initiative.
Abu Dhabi Chamber and UAEIIC team up to boost investment
Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council...
Business
Company News
QIB posts 7.7% profit rise
Business
Latest News
Almarai profit rises 27% in H1
Business
Meta technology chief defends tech titan’s AI strategy
The company launched AI-infused chatbots with personalities at the gathering, along with tools for creating images or written content using...
Business
Old Doha Port signs many agreements during Monaco Yacht Show
Monaco, Monaco--The Old Doha Port has signed several agreements with professional global companies, specialized in yacht during its participation in...
Business
Saudi Arabia projects 2024 budget deficit at 1.9% of GDP
The kingdom's finance ministry estimated expenditures for 2024 to be at US$333.5 billion. According to the ministry, the projection is...
Economy
Most Read
Economy
ADB capital reforms unlock $100bn to support Asia and the Pacific region
MANILA, PHILIPPINES - The Asian Development Bank (ADB) approved capital management reforms that unlock US$100 billion in new funding capacity...
- The expansion of available funds will be further leveraged by mobilizing private and domestic capital required to tackle the climate crisis.
- The reforms also create a Countercyclical Lending Buffer to support ADB developing member countries facing unexpected crises.
Geostrategy
The many ways US government shutdown affects people
WASHINGTON, US - The United States is heading toward a government shutdown this weekend with no foreseeable way out of a...
- Sharp disagreements in the Republican Party has prevented passage of the bills needed to keep the government funded and open.
- The credit ratings agency Moody's warned this week that a shutdown would be "credit negative" for US sovereign debt.
Business
Crypto fund co-founder arrested, jailed in Singapore
According to the company's liquidator, Su Zhu was detained at Singapore's Changi airport while trying to leave the city-state. He...
- Kyle Davies, his co-founder, was also committed to four months in prison but "his whereabouts remain unknown"
- The country's monetary authority had banned the pair "from conducting regulated investment activity for nine years each"