Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023
DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...
Business
Business
$100m platform set to give MENA esports a boost
Zain-PlayHera joint venture aims to enhance the capabilities of esports professionals and nurture local talent in the regional markets
- The partnership, which delivers the first esports platform in the region, aims to enhance the capabilities of esports professionals
- It will also nurture local talent in the region’s markets by creating an enabling environment for esports content creators and designers
Economy
Middle East Energy Event to address future of energy transition
The Middle East Energy Event (formerly Middle East Electricity) will be held at Dubai World Trade Center from 7th-9th March....
- The event, formerly known as Middle East Electricity, will be held at Dubai World Trade Center from 7th-9th March.
- A study by Goldman Sachs revealed green hydrogen could meet 25 percent of global energy requirements in the next 30 years.
Business
Abu Dhabi Judicial Department sells 787 cars for $5 million at auctions
The Abu Dhabi Judicial Department (ADJD) has organized five-car auctions at the Al Mafraq vehicle impound area over the past...
- The vehicles were sold at competitive prices ranging from $544 to $69424.
- The five-car auctions generated a high influx of bidders, whose number exceeded 1,200.
Business
Aldar Education gets $272m
Company's growth plan focused on three locations in Abu Dhabi.
- Aldar Education currently owns nine schools under Aldar Academies and Cranleigh Abu Dhabi and manages a further 11 schools.
- The company aims to increase the existing student capacity in Aldar Education’s owned and managed schools to over 40,000 seats by Academic Year 2024-25.
Geostrategy
GACA and Oracle sign MoU to steer digital transformative initiative
Saudi Arabia’s General Authority of Civil Aviation (GACA) has signed an MoU with Oracle to develop and support a roadmap...
- The memorandum was signed on the sidelines of the Global Tech Conference "LEAP" held in Riyadh.
- It also stipulates mutual coordination regarding cloud seminars, training and guidance, facilitating training.
Arts & Culture
The NFT artist who sold a trashcan image for $252,000
The image, by American artist Robness, called "64 gallon toter", depicts a large plastic trashcan with glitching effects, giving it...
- NFTs are unique pieces of computer code stored on a longer chain of code known as a blockchain, with a link to an artwork or other item.
- There is a lot of money to be made in the NFT art world -- auctions and purchases from celebrities contributed to sales worth more than $40 billion last year.
Economy
Green Hydrogen Production among 98 new activities added to Dubai economy
A total of 98 new economic activities have been added to several sectors of Dubai in 2021, bringing the total...
- The total number of economic activities in the Emirate has reached 2,200. In 2020, the DET had added 58 activities.
- Artificial Intelligence Developing Services, Gaming Localization Services and Industrial Consultancies are among other activities added this year.
ADNOC announces vital gas discovery offshore of Abu Dhabi
The Abu Dhabi National Oil Company (ADNOC) has announced the discovery of natural gas resources offshore of the Emirate of...
- This discovery marks the first of Abu Dhabi’s offshore exploration concessions
- Offshore Block 2 covers an area of 4,033 square kilometers northwest of Abu Dhabi
Business
Saudi connectivity takes off with five times faster Wi-Fi-6e
The Communications and Information Technology Commission (CITC), Saudi Arabia’s digital regulator, has announced the launch of WiFi-6e as part of...
- The latest generation of Wi-Fi technology offers data transfer speeds more than five times faster than the current standard
- It provides more capacity for high-bandwidth activities such as 8k gaming, video conferencing and virtual reality applications
Geostrategy
South Africa tax authority uncovers $1.8 bn gold scam: report
South Africa's tax authority has uncovered a 1.8-billion-dollar gold scam, in which coins and jewelry were illegally smelted into gold...
- Coins and jewelry were illegally smelted into gold bars for sale overseas, the amaBhungane Centre for Investigative Journalism said.
- Sale of gold within South Africa carries a tax, but gold exports do not. So the companies created fake invoices to claim that they had paid tax.
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
Company News
solutions signs $118m contract
Business
Latest News
Saudi Arabia’s imports from GCC countries fall by 19% in June
Riyadh, Saudi Arabia -- Saudi Arabia’s imports from Gulf Cooperation Council (GCC) countries fell 19 percent year-on-year (YoY) to SAR...
Business
Equities extend gains on US jobs data, China rate cut hopes
The mood was brightened by a report that China's biggest state-backed banks would slash rates on mortgages and deposits as...
Business
Oil prices spike on US stockpile draw and hurricane fears
Dubai, UAE--Oil prices extended gains on Wednesday after industry data showed a large draw in crude inventories in the U.S.,...
Business
Most Read
Elon Musk lifts political ad ban at rebranded Twitter
Welcoming back potentially misleading political messages at X came less than a week after former president Donald Trump posted there...
- X, formerly known as Twitter, said in a blog post that allowing political ads, starting in the United States, was "building on our commitment to free expression"
- X policies prohibit promotion of false or misleading information, including bogus claims intended to undermine confidence in an election, the blog contended
Geostrategy
GCC to establish partnerships with international organizations: Albudaiwi
Riyadh, Saudi Arabia-- The GCC countries are "actively engaging" with international and regional organizations in order to establish strategic partnerships...
- The secretary general of the GCC made the remarks in a meeting with the ambassadors of the MIKTA Group in Riyadh
- The MIKTA Group comprising of Turkey, Indonesia, Mexico, Korea, and Australia is keen to consolidate cooperation with the GCC
Business
Egypt looks to raise US$5bn from offloading stake in state-owned companies
Cairo, Egypt--Egypt is looking to raise $5 billion from the offering of power plants and state-owned companies from October 2023...
- The country will offload stake in the Siemens Beni Suef power plant, Gabal El-Zeit wind power plant, and Zafarana wind farm
- Between March 2022 and July 2023, the Egyptian government raised $5 billion from offering stakes in 13 companies