‘GCC set to dominate global cryptocurrency market’
“Oman is emerging as a standout in the regional crypto mining landscape, highlighted by its support of Exahertz, an Omani...
Business
Dubai approves rise in energy, water efficiency programs
DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st...
Geostrategy
Business
ADNOC framework agreements declared
The $1.94 bn agreements have been awarded to four companies.
- The wireline logging and perforation services are the largest of such awards in the oil and gas industry.
- The framework agreement awards cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further two years.
Business
UAE Food and Beverages from Latin America reached $1.9 bn in 2020
The UAE’s food and beverage imports from Latin America reached $1.9 billion in 2020 as the Gulf country expanded its...
- Dubai Chamber of Commerce revealed UAE expanded its efforts to enhance food security.
- The Chamber's analysis estimates the untapped potential of Latin American food and beverage exports to the UAE at $800 million.
Business
Moody’s calls transfer of Aramco shares to PIF as credit positive
Moody's has termed the share transfer of Saudi Arabia’s Aramco to the Public Investment Fund as credit positive as it...
- The transaction, which saw Aramco transferring a 4 percent stake to PIF, will also improve the fund’s sector diversification, and will add an asset that regularly pays dividends
- PIF’s assets will increase by SR296.4 billion ($79 billion) following the transfer, or 20 percent higher than in 2020
Business
Airbus posts net profit of $4.8bn in 2021, after two years of losses
European aircraft giant Airbus posted record profits in 2021 after two years of losses as it cruises past the pandemic-induced...
- Net profit surged to 4.2 billion euros ($4.8 billion) with deliveries of aircraft rising eight percent to 611 planes, Airbus said in an earnings statement
- The company is targeting 720 commercial aircraft deliveries in 2022, an 18 percent increase
Business
Jordan’s 26 companies to take part in Baghdad intel Fair
Jordan's minister praised the Ministry of Communications for its achievements in the communications and information technology sector.
- Jordan's minister praised the Ministry of Communications for its achievements in the communications and information technology sector.
- Jordanian Ministry and the joint companies will hold a series of meetings in order to discuss cooperation
Business
Saudi Arabia elected as Head of ICAO’s Regional Aviation Safety Group for Middle East
The election took place during the ninth session of the group’s meetings hosted in Riyadh from 14-17 February 2022.
- The election took place during the ninth session of the group’s meetings hosted in Riyadh from 14-17 February 2022
- The RASG-MID aims to develop an integrated data-driven strategy and implement a work program that supports a regional safety management performance framework
Business
UAE to promote innovation in home businesses
This was discussed at panel discussion about "Innovation in Home Businesses" which was organised by the Ministry of the "UAE...
- This was discussed at a panel discussion about "Innovation in Home Businesses" which was organised by the Ministry of the "UAE Innovates-February 2022"
- Minister of Community Development Buhumaid highlighted outstanding success stories for national entrepreneurs and small business owners to inspire the UAE productive families
Business
Aramco, Egypt company sign non-binding crude oil supply pact
Aramco Trading Company signed on Wednesday a non-binding agreement with Egypt’s Red Sea National Petrochemicals Company for a long-term crude...
- The agreement will pave the way for Aramco Trading to buy products from Red Sea, which include polymers, olefins, and liquid refined and petrochemical products
- The Red Sea National Petrochemicals Company was established to meet the needs of the local market for refined and petrochemical products
Business
Google to overhaul ad tracking system on Android devices
Google announced plans Wednesday to limit ad tracking on its Android operating system running on billions of devices, a sensitive...
- Apple has about 50 percent of the US smartphone market while Google's Android software is used on roughly 85 percent of smartphones globally
- At present, the internet search giant assigns an identity to Android-powered devices, which enables advertisers to have a profile of people's online habits
Interview
AI/ML boosts efficiency of GCC frontline workers
The Gulf region leads in adoption of artificial intelligence or machine learning to boost productivity, says Rami Darwish, CEO of...
- The pandemic has highlighted the importance of making digital solutions available for field staff
- Frontline and back-office must be on the same platform to facilitate information flow
‘GCC set to dominate global cryptocurrency market’
“Oman is emerging as a standout in the regional crypto mining landscape, highlighted by its support of Exahertz, an Omani...
Business
Company News
Aquaterra gets UAE contract
Business
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SPARK, Hutchinson Ports ink pact
Business
Oil prices at a crossroads as production cuts persist
Oil stocks drop as Saudi Arabia and Russia extend a 1.3 million barrel per day oil supply reduction, leading to...
Business
Europe’s tussle with Big Tech involves dominance, data, disinformation
Paris, France - Irish regulators on Friday handed out a 345-million-euro ($369-million) fine to TikTok over data breaches, part of a...
Geostrategy
UAE, China’s Hainan Province ink multiple deals to boost trade, economic ties
DUBAI, UAE - The UAE and China's Hainan Province have signed four major private-sector agreements aimed at boosting the rapidly...
Geostrategy
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Business
Qatar’s Hamad International Airport named world’s second-best
London, United Kingdom -- Qatar's Hamad International Airport has been named as the best airport in the Middle East, and...
- At this year's Business Traveller Awards, the airport was also named as the best in the Middle East.
- After a multi-billion-dollar overhaul last year, the airport raised its capacity from 40 million passengers a year to 58 million.
Business
Dubai real estate transactions worth over $3.4bn in week ending September 15
DUBAI, UAE - A total of 2,329 real estate transactions worth over US$3.4 billion (AED 12.7 billion) were conducted during...
- A total of 549 plots were sold for US$1.1 billion, while 1,780 apartments and villas were purchased for $1.07 billion.
- A plot in Marsa Dubai sold for US$169 million while a plot sold for US$49 million in Business Bay.
Business
Turkey-China nuclear power plant deal possible soon: Minister
Dubai, UAE -- The talks between Turkey and China to build a nuclear power plant in eastern Thrace are progressing and...
- Senior officials from the Chinese government visited eastern Thrace and saw the sites where the construction is planned, Middle East Eye reported.
- Russia is already building a power plant in Akkuyu that will become partly operational next year.