Dubai food and beverage sector stirs up with investment of US$577m
Dubai, UAE-- The food and beverage sector in Dubai has attracted new FDI worth $577 million from 2019 to 2023,...
Business
Business
Arada awards $87m housing contract in Aljada project
Arada has awarded an AED322 million ($87m) contract to build eight premium apartment buildings in Aljada, the AED24 billion lifestyle...
- The contract involves eight Tiraz buildings form part of Naseej District, the new creative neighborhood at Aljada, containing 920 homes.
- Spread over a 24 million square foot area, Aljada is Sharjah's largest ever project and a transformational destination for the Emirate.
Geostrategy
Qatar emir meets Biden in shadow of Ukraine tensions
The move underscores the Qatar’s strategic importance, including in a scramble to shield European allies from potential Russian energy cutoffs.
- US President Joe Biden recognized Qatar's place in the US military's global footprint: It hosts Pentagon's Central Command and a huge airbase
- Biden also announced he was designating Qatar a “major non-NATO ally,” which opens the door to closer military and commercial ties
Business
Lebanon power cuts turn cafes into coworking spaces
For the patrons filling Beirut's cafes these days, the most important things are good lighting and stable wi-fi.
- The power cuts have left many already with no option but to plant themselves in cafes all day
- The 23-hour power cuts and the falling quality of many internet connections have complicated matters
Business
Boeing sells 34 cargo planes to Qatar Airways
This deal with Qatar Airways should boost Boeing and its latest widebody plane the 777X.
- Qatar Airways also has purchase rights for another 16 777X cargo planes
- It also signed a letter of intent to buy 25 737 MAX planes worth $6.7 billion
Analysis
Low-code, no-code tools decode GCC’s digital gains
The growth of low-code tools, heightened by digital transformation, is expected to bring about general employee upskilling across several industries...
- Businesses adopt many tools when they are going through a digital transformation
- They are often categorized as low-code or no-code, depending on how much programming they need
Business
Business accelerator set to develop cybersecurity sector in Saudi Arabia
Saudi National Cybersecurity Authority (NCA) has launched a business accelerator specialized in the foundational technologies and priority emerging technologies in...
- The launch of the accelerator comes in a strategic partnership with the Saudi Information Technology Company (SITE)
- The accelerator will support the most growing sectors in cybersecurity by activating national and international partnerships
Business
New York Times buys ‘Wordle’
The deal was made for an "undisclosed price in the low seven figures."
- Created by engineer Josh Wardle, the game consists of guessing one five-letter word per day in just six tries
- Now millions play it daily, fueled in part by the ease of sharing spoiler-free results on social media
Infographics
Social media dominate popular websites in region
Globally, the top three websites -- Google, Youtube and Facebook -- woo more than 152 billion visits monthly, outpacing the...
- Beside Google, Youtube and Facebook, there are a few other online giants who have unmatched dominance in the cyberworld.
- Together, the top three websites woo more than 152 billion visits monthly, outpacing the next 47 websites combined
Business
Egypt finalizes pact with Siemens to run high-speed train line
Egypt’s Ministry of Transport will sign a contract with Siemens to implement the second high-speed train line in the country....
- The new line will extend from 6th of October city to Aswan, with a length of 925 kilometers (575 miles approx).
- The cost of this project will be financed through a soft foreign government loan and the state's general budget.
Business
Saudi defense company AEC to display modern technology at LEAP
The Advanced Electronics Company (AEC), a Saudi Arabian Military Industries (SAMI) company, will participate in LEAP technology conference, a global...
- AEC will display a complete range of solutions, systems, and products, including its flagship cybersecurity technology Data Diode.
- The conference is organized by the Saudi Ministry of Communications and Information Technology.
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
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...
Business
Ryanair inks pact with Joramco
The airline is likely to carry 300m passengers a year by 2034.
Business
Hotel revenues in Oman grow 27.8% to $318 million in July
Muscat, Oman -- The revenues of 3-5-star hotels in Oman reached RO 122.5 million ($318 million) at the end of...
Business
Most Read
Videos
GCC optimistic about FDI growth despite hiccups
Despite a decline in FDI inflows in the past few years, GCC countries remain optimistic as they expect strong economic...
- The GCC countries are generally stable and have a good track record of protecting foreign investments.
- The Gulf nations have abundant natural resources, such as oil and gas, which attract foreign investors in the energy sector.
Business
ChatGPT turns to business as popularity takes a tumble
ChatGPT Enterprise will be powered by GPT-4, OpenAI's highest performing model, much like ChatGPT Plus, the company's subscription version for...
- ChatGPT Enterprise will offer business customers a premium version of bot
- The ChatGPT business version resembles Bing Chat Enterprise, an offering by Microsoft
Economy
Toyota factories across Japan hit by massive glitch
The news of system glitch sent Toyota's stocks into the red, trading 0.64 percent lower at 2,421.0 yen. But the...
- Twelve vehicle factories, affecting 25 lines, are not able to process orders for parts due to a system glitch, a Toyota spokesman said
- The Toyota factory in the southern Kyushu region and subsidiary Daihatsu's factory in Kyoto remained operational, the spokeswoman said