Investcorp Capital names new CFO
Rohit Nanda, the new CFO, will take up his new job next month.
Business
UAE bolsters air cargo industry with launch of ‘CARDS’ data platform
Abu Dhabi, UAE--The General Civil Aviation Authority (GCAA) has launched the Cargo Data Reporting System (CARDS), which provides a range...
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.
Investcorp Capital names new CFO
Rohit Nanda, the new CFO, will take up his new job next month.
Business
Company News
Herald, SAIF Zone sign agreement
Business
Latest News
CBD H1 2023 net profit $133m
Business
ADNOC in talks with OMV
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...
Business
Saudi Fund for Development and Seychelles sign US$25m loan agreements
Riyadh, Saudi Arabia-- The Saudi Fund for Development (SFD) has signed two loan agreements with Seychelles to support the social...
Business
Greece and Saudi Arabia agree to link their power grids
Athens, Greece - Greece and Saudi Arabia announced their agreement to establish a jointly-owned company with the goal of connecting...
Economy
Most Read
Business
Qatar and Libya sign MoU to boost cooperation in civil aviation
Tripoli, Libya-- Qatar and Libya have signed a memorandum of understanding (MoU) to boost cooperation in the field of civil...
- The MoU is a component of joint efforts by the two countries to deepen bilateral relations in the aviation sector
- It is also designed to enhance ways of cooperation in the field of security and safety, and exchanging experiences
Business
UAE, KSA lead the way in Islamic fintech innovation
Islamic fintech assets will rise from 0.8% to more than 1 percent globally by 2025, driven by young Muslim demand...
- Islamic fintech assets will rise from 0.8% to more than 1 percent globally by 2025, driven by young Muslim demand and favorable regulations, predicts Moody's
- Gulf's Shari'ah-compliant banks, led by Saudi Arabia at 83% market share, are expected to outpace traditional banks through 2024, with Bahrain following at 69%
Geostrategy
DIB to buy stake in TOM Group
DIB felt Turkey is a great investment destination.
- DIB will acquire 20 percent shareholding across T.O.M. Group with an option to increase shareholding to 25 percent within 12 months.
- DIB has long held the view that Turkey was an attractive investment destination for a financial services institution.