World’s only Dragon Ball theme park launched in Saudi Arabia’s Qiddiya City
RIYADH, SAUDI ARABIA – The Board of Directors of the Qiddiya Investment Company (QIC) revealed on Sunday the launch of...
Arts & Culture
EU to tell big tech firms to curb election risks or face fines
BRUSSELS, BELGIUM – The EU will put more pressure on the most popular online platforms, like X and TikTok, to tackle...
Geostrategy
Arts & Culture
Struggling Libyan potters showcase wares online
The Libyan city of Gharyan sculpted a reputation for ceramics generations ago, but fragile demand is forcing potters to seek...
- Potters in Gharyan looks to compete with products made in China, Turkey and Libya's neighbors
- Gharyan's once-prosperous potteries struggles to keep pace with modernization
Business
ADNOC Distribution launches range of 100% plant-based engine oils
Plant-based base oils are made from sustainable feedstock sources, such as palm, soy, coconut, and rapeseed.
- Voyager PX Green is developed specifically for petrol engines and Voyager DX Green for diesel engines
- The technology is said to be the first approach in the region to be made entirely from plant-based oils
Business
Dubal Holding profit at $735m
DH is Dubai’s commodities and mining investment arm.
- DH had seen profits of AED217 million ($59.09 million) for the previous year
- The numbers point to an increase of nearly 1,150 percent in net profit for the company
Business
New FB tools target groups
The tools help groups automatically reject posts with false info.
- More than 1.8 billion people per month use Facebook Groups, which allow members to gather around various topics
- Yet, critics have said the groups are ripe targets for misinformation as they sometimes have large audiences of like-minded users
Interview
F&B sector in GCC eyes greater sustainability
Tetra Pak Arabia Managing Director Niels Hougaard explains what lies ahead for F&B companies — bith regionally and globally —...
- Pollution and plastic litter in the ocean are the joint top environmental worry, while global warming is a close second
- GCC countries have launched several initiatives to educate consumers about recycling and sustainable consumption
Business
Sharjah Airport records 7 million passengers in 2021
In 2021, the Sharjah Airport served more than 7 million passengers with more than 57,000 aircraft movements and approximately 1.2...
- The volume of cargo in 2021 crossed 140,717 tons, while the volume of sea-air cargo reached 18,696 tons, a 22.27 percent increase from 2019.
- The airport renewed the ACI’s Airport Health Accreditation (AHA) for the second consecutive year.
Business
Dubai passes new law to regulate virtual assets like Bitcoin
Dubai has promulgated a new law in order to regulate virtual assets that are becoming popular with many investors in...
- “We established an independent authority to oversee the development of the best business environment in the world for virtual assets," Sheikh Mohammed tweeted
- Virtual assets exist digitally and can include cryptocurrencies like Bitcoin and Ethereum
Business
Saudi stocks shoot up on the back of high oil prices
Nudged by high oil prices, Saudi stocks inched up as the main index, TASI, gained 0.24 percent to touch 12,882,...
- Oil prices kept rising rapidly, as Brent crude oil peaked at $130.85 per barrel, while US WTI crude reached $125.96 per barrel
- Wataniya Insurance Co. gained 4.40 percent at the opening bell to be the top gainer at the opening bell
Business
Major UAE companies to work for raising solar power production capacity
The companies are Emirates Global Aluminum (EGA), Abu Dhabi National Energy Company (TAQA), Dubai Holding and Emirates Water and Electricity...
- TAQA and Dubai Holding envisage acquiring EGA's electricity generation assets in the UAE, holding a 50 percent share each.
- For TAQA, the acquisition of EGA's power assets would increase the company's UAE-based capacity to more than 23 gigawatts.
Business
Drone threat puts air defense at centerstage of Saudi defense show
Deadly strikes on Saudi Arabia and the United Arab Emirates claimed by Yemeni rebels have been the talk of shows...
- Around 600 companies from about 40 countries showed off the latest military technology at the World Defense Show in Riyadh.Â
- The General Authority for Military Industries, which oversees the Saudi defense industry, has made 22 deals with national and international enterprises worth some $2bn.
World’s only Dragon Ball theme park launched in Saudi Arabia’s Qiddiya City
RIYADH, SAUDI ARABIA – The Board of Directors of the Qiddiya Investment Company (QIC) revealed on Sunday the launch of...
Arts & Culture
Company News
Latest News
Ant Group to buyback shares
Business
Investcorp portfolio firm listed
The firm, PT Multitrend Indo, was listed on the Indonesian stock exchange.
Business
Evergrande shares sink after restructuring plan scrapped
Evergrande's enormous debt has contributed to the country's deepening property market crisis, raising fears of a global spillover. The property...
Business
Alpha Dhabi acquires stake in Metito
With this deal, Alpha Dhabi marks entry into water and wastewater domain.
Business
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Economy
EU businesses ‘questioning their position’ in China: trade official
The EU trade commissioner is in China to press the bloc's case that it is not seeking an economic decoupling...
- "European companies are concerned with China's direction of travel," the EU trade commissioner said
- He pointed to a new foreign relations law and a recent update to China's anti-espionage laws as being of "great concern"
Infographics
UAE most competitive MENA economy
The 2023 IMD World Competitiveness Ranking placed the UAE among the world's 10 most competitive economies.
- Gulf Cooperation Council economies are the most competitive in the Middle East region, according to the latest IMD World Competitiveness Ranking.
- In the 2023 IMD World Competitiveness Ranking, the top three economies are Denmark, Ireland and Switzerland, while the US ranks seventh.
Business
Future100 secures 25 new partnerships to support emerging firms
Dubai, UAE -- Future100, a collaborative initiative between the Ministry of Economy and the Government Development and the Future Office,...
- The partnerships are aimed at supporting the top 100 emerging companies that play a vital role in bolstering the competitiveness of the UAE’s future economy sectors.
- The inaugural list of Future100 will be unveiled on World Futures Day, which coincides with December 2nd, the UAE's National Day.