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
Agthia Group revenue up 49 percent
The company posted a net profit of $58.81 million in 2021.
- The growth in revenues was attributed to strong growth in the Protein and Snacking segments.
- The Consumer-Business contribution to Agthia's top-line almost doubled versus last year, reflecting the positive growth.
Geostrategy
Turkey eyes cooperation in agriculture sector with Iraq, says minister
Turkey wants joint cooperation with Iraq regarding the exchange of products, its Minister of Agriculture and Forestry Bekir Pakdemirli said....
- Tuekey suffers from lack of water, climate change and migration for several reasons, including wars and clashes
- Turkish minister discussed with the Iraqi Minister of Agriculture, cooperation in the agricultural field
Geostrategy
Saudi fund signs debt deferral MoU with Cameroon
The debt deferral agreement has been signed in line with the G20 initiative of 2020 led by Saudi Arabia which...
- Saudi Fund for Development has signed agreement to postpone the debt owed for development projects in Cameroon
- The agreement signed between two party reschedules debt on Cameroon over a period of 6 years
Business
Milaha 2021 profit $199m
The company's profit in 2020 was $16.20 million.
- The Board of Directors decided to recommend to the General Assembly to distribute a 30 percent cash dividend of the par value of a share.
- It is equivalent to QAR 0.30 per share, representing a payout ratio of 47 percent of 2021 net profit.
Business
Dana Gas posts $317m profit
The company's revenue rose 30 percent to $452 million in 2021.
- The company revealed the profit in Preliminary Unaudited Financial Results for the full year ended 31st December 2021
- Revenue increased 30 percent to $452 million in 2021 compared to $349 million in 2020 due to higher oil prices
Business
UAE and Spain to collaborate in 4IR, industry, aerospace
The UAE’s Ministry of Industry and Advanced Technology (MoIAT) and Spain’s Ministry of Industry, Trade and Tourism (MITT) signed a...
- The UAE’s Ministry of Industry and Advanced Technology (MoIAT) and Spain’s Ministry of Industry, Trade and Tourism (MITT) sign an MoU.
- Other areas of collaboration include automotive, health and life sciences and standards and regulations.
Business
France’s TotalEnergies signs $27bn oil, gas, solar deal in Iraq
French giant TotalEnergies signed a $27-billion contract to invest in oil, gas and solar production in Iraq Sunday, as the...
- Oil minister Ihsan Ismail said this is the largest investment in Iraq by a western company.
- Despite being the number two producer in the OPEC, Iraq is experiencing an acute energy crisis and chronic blackouts that fuel social discontent.
Business
CBD net profit $394
The bank's assets reach a record AED114 billion: CEO
- The CEO attributed the net profit to improved net interest income, stable non-funded income and lower expected credit losses.
- Operating income for the full year of 2021 amounted to AED3.18 billion, an increase of 6.9 percent, attributable to higher Net Interest Income.
Economy
JBA head, Tunisian envoy discuss enhancing joint economic cooperation
According to a JBA statement it has helped promote joint investments and increase the volume of Jordan-Tunisia trade exchange.
- According to a JBA statement it has helped promote joint investments and increase the volume of Jordan-Tunisia trade exchange
- The two sides discussed joint cooperation in the sectors of garment, textiles, banking, contracting, traditional industries, transport, shipping, and pharmaceutical industries.
Business
Disney+ shines amid streaming TV competition
Disney saw streaming subscriptions pick up pace as pandemic restrictions ease, while Netflix saw them slow.
- Disney+ saw its big studio muscle help it reach 129.8 million subscribers worldwide, some 5 million more than predicted
- Netflix ended the year with 221.8 million subscribers, a massive number, but it announced slowing growth
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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
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
Company News
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Vodafone merges with Hutchison
Business
Bitay to expand in UAE’s burgeoning crypto market
DUBAI, UAE – Bitay, a cryptocurrency platform from Turkey, announced its expansion into the UAE's burgeoning crypto market. The UAE,...
Business
UAE economy expected to grow by 3.5 percent in 2023, says UBS
ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross...
Economy
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Business
Global construction industry projected to reach $12.9 trillion by 2028
Dubai, UAE -- The global construction industry is projected to reach a staggering $12.9 trillion by 2028, with a robust...
- The study says residential construction will continue to dominate, driven by rising per capita income and disposable income.
- The Asia Pacific region is poised to retain its leadership position, attributed to increasing urbanization and robust infrastructural development.
Business
ADGM’s Registration Authority fines KPMG Lower Gulf $30,000
Abu Dhabi, UAE -- The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has fined ADGM-registered audit firm, KPMG...
- ADGM audit regulatory framework requires audit reports to be issued and signed by ADGM Registered Audit Principals on behalf of an ADGM Registered Auditor.
- Prior to imposing the penalty, the RA had engaged in ongoing communication with KPMG over a period of several months, ADGM said.
Business
Viacom18 nets Indian cricket broadcast rights for $721 million
Media rights are a huge earner for the Board of Control for Cricket in India (BCCI), one of the richest...
- The agreement priced the average match nearly 13 percent higher than the $944 million rights deal for 2018-23 signed by Star, Disney's local subsidiary.
- Star had held the rights to broadcast international matches since 2012 and was also a bidder in Thursday's auction, along with Sony Sports.