MENA print media revenues fell 30% from 2018 to 2022: survey
The report stresses the urgent need for MENA news organizations to overhaul business models, adopt digital strategies, and diversify content...
Economy
‘Skills Bahrain’ set for launch, expected to meet labor market demands
Tamkeen, a semi-autonomous Bahraini agency, has said that the “Skills Bahrain” initiative is all set to be launched in the...
- 'Skills Bahrain' is the first comprehensive national initiative aimed at establishing professional standards for vocations.
- Tamkeen is implementing the project in collaboration with many governments and private sector entities engaged in education.
Business
Gourmet treats abound in Dubai
During the course of last year, Dubai saw 1,343 eateries opening up across the city, and as a result the...
- The number of communications received by the Municipality Call Centre last year was 4,961
- The Municipality said that it has monitored a great level of commitment by food establishments to abide by the procedures that it has set
Business
Mubadala, Trafigura complete mining sale
They have sold 100 percent of Spanish operation MATSA to Sandfire Resources.
- MATSA owns and operates two mines in the municipality of Almonaster La Real and one mine in the province of Huelva, Andalucia.
- The company’s processing plant can process more than 4.4 million tons of copper and polymetallic ore per year.
Business
Rivals Turkey and Armenia to resume commercial flights
Historic rivals Turkey and Armenia were due Wednesday to resume their first commercial flights in two years as part of...
- Armenia and Turkey have no diplomatic relations, a closed land border and a long history of hostility rooted in the mass killing of Armenians
- The first flight run by Moldova's low-cost carrier FlyOne was expected to land on Wednesday evening at Istanbul Airport from Yerevan
Business
Saudi Arabia clocks high growth in ‘contactless’ payment
Saudi Arabia has witnessed a big jump in 'contactless' payment during the last three years, from hovering in single digits...
- Looking at Saudi Arabia’s workforce, Torre said that the large number of foreign workers in the Kingdom should provide ample opportunities for Visa in terms of offshore remittances
- Torre indicated that his company offers a Visa Direct solution which allows people to send money to any of their 3.7 billion cards or directly to bank accounts in 88 countries
Business
Aramco officially launches $1 billion Venture Capital fund Prosperity7 Ventures
Saudi Aramco has officially launched Prosperity7 Ventures, a $1 billion Venture Capital fund. The fund has been operational for over...
- The fund has been operational for over a year but was launched officially on Tuesday.
- The fund aimed at supporting the development of next-generation technologies and business models.
Business
CBUAE to start new terms for credit and liquidity facilities
The Central Bank of the UAE will introduce a new set of terms and conditions for its standing credit and...
- The new terms and conditions define the discretionary powers related to the activation of these facilities and the guidelines for collateral management
- In addition, the CBUAE may activate the Contingent Liquidity Insurance Facility in response to any actual or prospective stress of an exceptional nature
Business
‘Necessary evil’: Some artists say can’t quit Spotify
The opportunity for less well-known artists to reach a large audience and potentially get paid for streams of their music...
- The opportunity for less well-known artists to reach a large audience and potentially get paid for streams of their music means they feel obligated to stick with Spotify
- "For me, Spotify is kind of a necessary evil," said Leo Sidran, musician and host of the podcast "The Third Story."
Business
GM sees strong demand in 2022
In Q4 2021, GM saw global car sales sink
- Profits fell in the final quarter of 2021 as GM saw global car sales sink but the US automaker still managed to notch a record $10 billion in annual profits
- GM signaled it expects comparable profits in 2022 in spite of cost pressures in commodities, freight services and labor
Opinion
Technology changes worker-firm relationship
Technology is allowing firms to shift an increasing share of work outside of their traditional boundaries, reducing costs and improving...
- Together, the rise of work-from-home and the gig economy have loosened the boundaries of the firm, making the ideas of a workplace and a worker more fluid
- Today, technological advances and the emergence of new digital platforms are allowing firms to shift an increasing share of work outside of their traditional boundaries
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
Latest News
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...
Business
Exclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economy
In the GCC, online market growth surpasses offline, driven significantly by Saudi Arabia, amid intense competition where local brands increasingly...
Economy
Exclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economy
In the GCC, online market growth surpasses offline, driven significantly by Saudi Arabia, amid intense competition where local brands increasingly...
Investigation
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Business
Q Properties awards $470bn contract for Reem Hills Phase 1 Villas construction
Abu Dhabi, UAE – Q Properties, a real estate developer and subsidiary of Q Holding, announced on Tuesday the award...
- Trojan will be responsible for constructing the fully sold out 218 luxury villas ranging from 4 to 7BR and developing 3 million sqft of built-up area
- Situated at the heart of the capital, Reem Hills stands as the sole gated community on Abu Dhabi's prestigious Al Reem Island
Business
Iranian company SAIPA to export cars to Russia
TEHRAN, IRAN – The CEO of SAIPA Auto Making Company, Iran’s second-largest car manufacturing company, said a contract has been...
- SAIPA is planning to supply 90,000 units of the QUIK sedan model to Russian customers in the next three years.
- Exports can start within a month and after the required permits are issued by Russian authorities.
Business
Iran’s non-oil exports reach US$19.3bn in March to July 2023
TEHRAN, IRAN - Some 56 million tons of non-oil goods, valued at US$19.3 billion, were exported in the first five...
- Also 14.4 million tons of non-oil goods, valued at US$24.2 billion were imported into the country from March 21, 2023 to July 22, 2023.
- In this period, China, Iraq, the United Arab Emirates (UAE), Turkey and India were Iran’s main export markets respectively.