Middle East and Africa smartphone shipments surge 30% YoY in Q4 2023
Dubai, Riyadh - Smartphone shipments in the Middle East and Africa (MEA) region witnessed a remarkable surge, growing by 30%...
Business
Renault Scenic model wins Car of the Year at Geneva auto show
Renault unveiled a new electric vehicle and its Scenic model won the Car of the Year award at the first...
Business
Geostrategy
Kyrgyzstan and Ras Al Khaimah to expand cooperation in investment, trade
Kyrgyzstan and the UAE have discussed enhancing the investment and trade cooperation between the two sides. Mohamed Ali Musabbeh Al...
- Both sides agreed at a meeting to organize a business visit by a delegation from the chamber to Kyrgyzstan.
- The meeting also discussed several projects and investment opportunities that will increase the trade exchange between Kyrgyzstan and Ras Al Khaimah.
Economy
Over 27,800 new firms join Dubai Chamber of Commerce in 2021
Over 27,800 new member companies joined the Dubai Chamber of Commerce in 2021, a 66.8 percent increase compared to 2020,...
- The Chamber said it also achieved its goal of becoming 100 percent paperless by the end of 2021, representing an important milestone in its digital transformation mission.
- The value of exports and re-exports of Dubai Chamber of Commerce members amounted to AED227 billion.
Business
Most of Saudi employers to add to workforce in 2022: Hays
Some 80 percent of Saudi Arabia's employers are considering to add to their workforce in 2022, with a reasonable decline...
- The Hays report noted that 43 percent of employers intended to expand their workforce in 2021, while it was just 29 percent in 2020
- The research report suggests that 2022 may face a drought in hiring employees who fall under technology, managerial, and leadership
Business
Empower to pay $136m in dividends
The dividend is 53.4 percent of the net profit earned by the firm last fiscal.
- The total dividends to shareholders amounted to AED3.15 billion since its inception in 2004, Empower said.
- The company reported total revenue of AED2.464 billion in 2021, increasing 9.3 percent compared to 2020.
Business
A health hazard for some, a source of earning for others
At a landfill in southern Gaza, mounds of discarded batteries pile up, rusting cells that pose a growing health risk to...
- Batteries are an essential power source in Gaza, where public electricity supply is sparse and infrastructure has decayed since an Israeli blockade of the enclave began in 2007
- Battery collection is also a source of income for the impoverished territory, where unemployment rates hover around 50 percent
Business
Lacking oversight, Telegram thrives in Ukraine disinformation battle
Telegram's founder Pavel Durov has accepted that "Telegram channels are increasingly becoming a source of unverified information related to Ukrainian...
- The fake account of Ukraine's President which was asking Ukrainian forces to surrender reached 20,000 followers on Telegram before it was suspended by the company
- Telegram decided not to restrict its access in Russia and Ukraine territory as many users complained that it's an important source of information
Business
Airbnb users send money to Ukraine through reservations
About 28,000 Airbnb hosts around the world, including 2,800 in France, are currently offering accommodation for refugees.
- About 28,000 Airbnb hosts around the world, including 2,800 in France, are currently offering accommodation for refugees
- donations of more than $1.2 million have poured into its refugee fund, the company told AFP
Business
McDonald’s, Coca-Cola join US firms halting Russia operations
Several of these companies, symbols of American cultural influence in the world, have been the subject of boycott calls on...
- Several of these companies, symbols of American cultural influence in the world, have been the subject of boycott calls on social media
- Starbucks, Coca-Cola and PepsiCo announced their own decisions to halt or restrict business in quick succession, noting the growing human cost of the invasion
Business
KSA, UAE lead GCC’s push for hydrogen economy
Striking partnerships with companies in the West have helped the two Gulf countries emerge as one of the major exporters...
- The business strategy stems from the belief that GCC has a plethora of renewable energy sources that can be tapped into to produce hydrogen
- Both the UAE and Saudi Arabia have access to natural gas supplies for blue hydrogen and nuclear power for pink hydrogen
Business
AHOY raises $20m in financing
AHOY, a UAE and Saudi operating logistics startup, has raised $20 million in financing from undisclosed investors.
- AHOY uses tech-driven infrastructure to optimize mobility for enterprises, and will use its latest funding to expand its reach to African and Latin American markets
- It has grown 25 times in terms of revenue, number of transactions, and tech deployment from 2020 to 2021
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
Middle East and Africa smartphone shipments surge 30% YoY in Q4 2023
Dubai, Riyadh - Smartphone shipments in the Middle East and Africa (MEA) region witnessed a remarkable surge, growing by 30%...
Business
Company News
Latest News
SPARK, Hutchinson Ports ink pact
Business
RTX engine issue to hit profit by $3.5bn
RTX said 600-700 engines will be removed for inspection.
Business
Iran-US non-oil trade reaches US$31m in January-July 2023
TEHRAN, IRAN - The US Bureau of Statistics in its latest report said the trade between Iran and the United...
Business
Most Read
BMW to make ‘multi-million’ pound investment in UK plants: govt
The first generation of the iconic British vehicle's electric model was launched at the Oxford plant in 2019, but last...
- The money will be used to "transform" BMW's plant in Oxford, southern England, "securing 4,000 high-quality jobs", UK government said
- BMW's investment is another shining example of how the UK is the best place to build cars of the future," said Prime Minister Rishi Sunak
Business
Saudi Arabia’s ROSHN Group announces $2.4bn in commercial partnerships
Riyadh, Saudi Arabia - Saudi Arabia's leading real estate developer, ROSHN Group, announced on Sunday a series of commercial partnerships...
- The most significant deal, valued at SR7.69 billion, was signed with China Harbor Engineering to develop 6,700 residential units in Riyadh's Sedra and Warfa communities
- ROSHN also inked an SR840 million agreement with BC Marine Services to execute canal and bridge works for the recently announced MARAFY project in Jeddah
Business
Alibaba announces surprise departure of ex-CEO
CEO Daniel Zhang was due to take charge of the firm's new cloud computing branch, now a separate entity, on...
- Alibaba is one of China's most prominent technology firms, with business operations spanning cloud computing, e-commerce, logistics, media and entertainment
- After years of turbulence in the Chinese tech sector, Alibaba in March announced the biggest restructuring in its history, dividing itself into six entities