AI in focus as world’s biggest mobile fair gets underway in Spain
Barcelona, Spain - The world's biggest mobile phone fair throws open its doors in Barcelona Monday with the sector looking to...
Business
MENA ups cybersecurity ante to combat GenAI risks
With GenAI emerging as a new frontier for cyber threats, and stricter data privacy laws coming into effect, organizations are...
Business
Business
‘Don’t be Google’: The rise of privacy focused startups
Google once used the slogan "don't be evil" to distinguish itself from its competitors, but now a growing number of...
- They are taking on Google Analytics, a product used by more than half of the world's websites to understand people's browsing habits
- The smaller players know they are not going to overturn Google's domination, rather their aim is to inject a bit of fairness and choice into the market
Interview
TikTok eyes a bigger slice of Arab social media
TikTok is among top ten most downloaded apps in the region, particularly in Saudi Arabia, UAE, and Qatar, says Hany...
- The cumulative follower total of the top 10 GCC TikTok personalities grew from 24.6 million at the beginning of 2020 to 54.6 million in February 2021
- Food, sports and comedy are among the most popular content pillar on TikTok
Business
Mubadala closes Brazil fund
Brazil Special Opportunities Fund I is Mubadala's first fund in Brazil.
- The fund raised capital from a diverse set of global investors, including a leading public pension fund, family offices and corporates among others.
- Mubadala Capital manages over $10 billion of assets in third-party managed funds across its Brazil, private equity, public equities and venture capital businesses.
Business
India to list its largest insurer, set to raise $10bn
India is embarking on the blockbuster listing of the country’s largest insurer as part of a wider privatization drive to...
- After the listing, which is expected in March, LIC will be one of India’s biggest publicly listed companies alongside giants such as Reliance and TCS
- The company holds a two-thirds share in the domestic life insurance market. It manages assets of 36.7 trillion rupees ($491 billion)
Business
Saudi Arabia to issue second local sukuk for the year
For the second time this year, the Saudi government will issue riyal-denominated sukuk for the year, seeking to take advantage...
- The local issuance comes amid rising demand for both international and domestic fixed income markets that provide safe and guaranteed returns
- Countries are resorting to fixed income instruments to settle budget obligations in a bid to fuel economic recovery
Business
YGS awarded $247m mandate
The company will provide enhanced managed services to the UAE government.
- The agreement augments the previous operations and maintenance services provided, to include technology management support, from Jan 2022 until the end of 2026.
- Yahsat has been providing operations and maintenance services since 2011 on its first two satellites, Al Yah 1 and Al Yah 2.
Business
Nawy raises $5m in funding
Nawy, a Cairo-based property dealer, obtained a seed funding round of $5 million, led by the Sawiris family office.
- Nawy is focused on capitalizing on digital technologies and expanding the business to create an informed and transparent decision-making process for its customers
- “We were one of the initial investors in Nawy because we saw the company's potential,” said Onsi Naguib Sawiris, who leads the family office
Business
Apollo to invest in Aldar
Apollo-managed funds and clients will invest $1.4bn in Aldar.
- A total of $500 million would be invested into a land joint venture, $500 million are meant as perpetual Subordinated Notes issued by Aldar Investment Properties.
- Aldar said the land joint venture will allow it to realize long-term value tied up in its vast landbank while maintaining flexibility to develop or sell the land.
Business
Jafza’s AED3.5bn food valley set to attract companies at Gulfood 2022
Jafza is home to some of the world’s leading brands, including Unilever, Nestle, Heinz, McCain, Hunter Foods, Alokozay Group of...
- Jafza is home to some of the world’s leading brands, including Unilever, Nestle, Heinz, McCain, Hunter Foods, Alokozay Group of Companies, Al Khaleej Sugar, Bayara, to name a few
- The F&B markets account for an annual increase of 3.8 percent, and the Middle East and Africa region are positioned as global gateways for Halal industries
Economy
JEA to provide jobs for Jordanian engineers in KSA
One in every 40 Jordanians is an engineer, making Jordan the country with the most engineers per capita globally.
- One in every 40 Jordanians is an engineer, making Jordan the country with the most engineers per capita globally
- Ahmad Zu'bi, who is the President of the Jordan Engineers Association, said Saudi Arabia and its companies in various engineering fields appreciate Jordanian engineers
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
AI in focus as world’s biggest mobile fair gets underway in Spain
Barcelona, Spain - The world's biggest mobile phone fair throws open its doors in Barcelona Monday with the sector looking to...
Business
Company News
Latest News
Grain deal in focus as Putin, Erdogan all set to meet
MOSCOW, RUSSIA - Russian President Vladimir Putin will host his Turkish counterpart Recep Tayyip Erdogan on Monday, the Kremlin said, amid...
Geostrategy
Iran’s non-oil export to ECO countries from Mar 21 to July 22 2023 reaches $3.6bn
TEHRAN, IRAN – Iran’s export of non-oil products to the Economic Cooperation Organization (ECO) member states in the first four...
Geostrategy
Qatar’s Q2 2023 budget posts record surplus of US$2.7bn
DOHA, QATAR - The Ministry of Finance announced that the budget of Qatar for the second quarter of the year...
Economy
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Business
Estithmar opens new subsidiary in Jordan
The subsidiary was set up in partnership with a Jordanian company.
- In August, Estithmar Holding subsidiary Elegancia Healthcare established a branch in Iraq.
- Estithmar Holding had signed agreements with the Iraqi investment authority worth $7 billion.
Business
Agri-Nutrients SABIC, US firms together support sustainable farming
RIYADH, SAUDI ARABIA - Agri-Nutrients SABIC, in cooperation with the American companies ADM and BiOWiSH has helped farmers achieve high...
- Through these collaborative efforts SABIC aims to help reduce the carbon footprint in the agricultural supply chain.
- Farmers will use SABIC's bio-fortified urea for the 2023 agri-nutrient season and enroll in ADM's Re:Generations program.
Business
Saudi first quarter travel balance of payments surplus $6 billion
Riyadh, Saudi Arabia -- Saudi Arabia achieved a surplus of SAR 22.8 billion ($6.07 billion) in the balance of payments...
- The Kingdom had recorded a deficit of SAR 1.6 billion in Q1 2022, the Kingdom's Ministry of Tourism said.
- Incoming tourism revenues increased by about 225 percent compared to the first quarter of 2022, to reach about SAR 37 billion.