IOTA Foundation launches US$10m investment fund at Investopia 2024
ABU DHABI, UAE – Minister of Economy and Chairman of Investopia Abdullah bin Touq Al Marri attended the unveiling of...
Business
Middle East oil policies not dictated by US, says Russia
MOSCOW, RUSSIA – US will no longer be able to dictate oil prices in the Middle East, Director of the...
Geostrategy
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
IOTA Foundation launches US$10m investment fund at Investopia 2024
ABU DHABI, UAE – Minister of Economy and Chairman of Investopia Abdullah bin Touq Al Marri attended the unveiling of...
Business
Company News
Ant Group to buyback shares
Business
Latest News
Amazon to pour US$4bn into Anthropic
Its investment will heat up the race for dominance in AI.
Business
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...
Economy
UAE most competitive MENA economy
The 2023 IMD World Competitiveness Ranking placed the UAE among the world's 10 most competitive economies.
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Business
China-Arab States Expo kicks off, highlighting deep trade ties
Yinchuan, China--The sixth China-Arab States Expo commenced today in Yinchuan, northwest China's Ningxia Hui Autonomous Region, marking yet another chapter...
- WIth more than 1,000 entities participating in the expo, it showcases innovations from 18 trailblazing companies across various sectors
- The main highlight of the event in northwest China is the clean energy section, themed “Deepen Energy Cooperation, Create a Green Future”
Economy
UAE and Indonesia pledge to enhance economic cooperation
Jakarta, Indonesia-- The UAE and Indonesia have discussed mechanisms to expand regional cooperation and opportunities for trade and investment cooperation...
- Speaking at the UAE-Indonesia Business Forum, Al Mazrouei reaffirmed the UAE's commitment to developing relations between the two countries
- The forum reviewed a number of economic and investment issues of common interest in the fields of energy, mining, tourism, real estate, and aviation
Geostrategy
Several UAE entities sign pact to implement ‘Sharjah Sat-2’
Sharjah, UAE -- A cooperation agreement was signed between the Sharjah Academy of Astronomy, Space Sciences & Technology (SAASST), the...
- Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and President of the University of Sharjah (UOS), witnessed the signing.
- The outcome of this project will help diverse parties in making decisions, developing future plans, and conducting scientific research.