Crypto crimes rise in GCC amid digital currency boom
The GCC is at a critical juncture, facing the dual challenge of embracing blockchain innovation while combating crypto crime, says...
Business
Capital One to buy Discover for US$35.3bn
Its shareholders will own 60% of the combined company.
Business
Business
FTA appeals to tax registrants to benefit from extension
The Federal Tax Authority (FTA) has called on tax registrants to benefit from the Cabinet Decision to extend the grace...
- The FTA reaffirmed that the Cabinet Decision provided an opportunity for the business sector to benefit from the reduction of the administrative penalties
- It said it continues to review and audit the records of tax registrants who have fulfilled the requirements prescribed in the law
Business
Financial scam websites victimize 137,000 Arabs daily
Five different types of financial frauds are prevalent in the Arab world, with 24 criminal methods being used to reach...
- According to a review of 503 fake adverts, the number of daily visits from potential victims of these fraudulent sites reaches 137,000 per day
- The study stated that five different types of financial frauds are prevalent in the Arab world, with 24 criminal methods used to reach the victims
Business
Aldar and EWEC sign clean energy deal
EWEC will supply clean energy to all Aldar owned and managed assets.
- Aldar has increased its ESG ratings within two major global benchmarks, the Dow Jones Sustainability Index and Sustainalytics.
- EWEC is one of the key parties enabling the implementation of Abu Dhabi’s Clean Energy Certificate scheme.
Business
Sharjah Chamber and Syria look to boost mutual trade
Sharjah and Syria are looking at ways to increase economic relations and enhance partnership between businessmen and traders.
- In this regard The Sharjah Chamber of Commerce and Industry (SCCI) received a Syrian delegation led by Kinan Zahreddine, Syrian Consul-General in Dubai
- The meeting also reviewed potential investment opportunities to support economic cooperation and enhance the partnership between businessmen
Business
AD Ports, Eni Abu Dhabi sign pact
The two firms will establish a marine logistics base at Mugharraq Port.
- Mugharraq Port was recently recognized as an international port facility.
- Its new status enables it to receive and service a host of international and local vessels.
Business
Covid restrictions hit spending, slowing eurozone growth
Economic growth in the eurozone slowed sharply in January, a key survey showed Monday, as new coronavirus restrictions hit consumer...
- IHS Markit said that the sky-high caseloads for the highly contagious Omicron variant had disrupted consumer-facing services through staff absences
- Tourism, travel and recreation were "especially hard hit", said Chris Williamson, chief business economist at IHS Markit
Business
Israel okays UAE joint fund for high-tech investment
The Israel government has approved the plan for a joint fund with the UAE for investment in high-tech firms and...
- The proposal was brought to the government by Israel’s Minister of Foreign Affairs of the State Yair Lapid
- It was co-sponsored by the country’s Minister of Foreign Affairs of the State Orit Farkash Hacohen
Business
Investcorp inks $4bn deals in US
It acquired properties worth $2.5 billion, and made sales of $1.5 billion.
- Invescorp expanded its US platform with focus on industrial and residential sectors
- The team has acquired over 200 properties in 2021 worth $2.5 billion and has sold for $1.5 billion
Business
Israel Cabinet to probe submarine procurement corruption
Prime Minister Naftali Bennett, who ousted Benjamin Netanyahu in June, abstained from the vote to set up the inquiry, citing...
- The Israeli cabinet voted to establish a formal inquiry into the "submarine affair," which concerns a multibillion-shekel deal to acquire vessels from Thyssenkrupp
- David Shimron, Netanyahu's personal lawyer and cousin, was charged with money laundering in connection with the 2012 naval procurement
Business
Evergrande undergoes rejig
A state firm official was appointed to the Chinese firm’s board.
- Evergrande has been teetering on the brink for months owing to its struggles in servicing a debt pile of more than $300 billion
- However, its shares ended up nearly 4 percent higher on Monday after news emerged of government intervention in its operations
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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
Crypto crimes rise in GCC amid digital currency boom
The GCC is at a critical juncture, facing the dual challenge of embracing blockchain innovation while combating crypto crime, says...
Business
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ADNOC L&S secures big contract
Business
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Market capital in Arab bourses $4.5 trillion, says Arab Monetary Fund
Kuwait City, Kuwait -- The Arab Monetary Fund has said that the market capital in Arab bourses reached US$4.5 trillion...
Business
Gazprom delivers 41.5m cu.m of gas to Europe per day through Ukraine
Moscow, Russia -- The volume of Russian gas supplies to Europe through Ukraine is 41.5 million cubic meters per day,...
Business
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Business
Joint Jordanian-Yemeni Business Council to resume activities, says JCC
AMMAN, JORDAN - President of the Jordan Chamber of Commerce (JCC) Khalil Al-Haj Tawfiq on Saturday discussed with Director General...
- The Jordan Chamber of Commerce stressed on the importance of attracting new Yemeni investments to the Hashemite Kingdom.
- The JCC said the Kingdom offers several opportunities in multiple commercial, service and industrial sectors for investors.
Economy
Jordan oil bill falls in H1 2023 compared to H1 2022, says government
AMMAN, JORDAN - The value of the Kingdom's oil bill decreased during the first half of 2023 by 15.6 percent,...
- The value of Jordan’s imports of crude oil, its derivatives and mineral oils went down in the first half of 2023, to reach about JD1.531 billion.
- In the first half of 2022, the value of imports of crude oil, its derivatives and mineral oils was about JD1.813 billion.
Economy
BRICS secures 47% global oil with Saudi Arabia, UAE, Iran inclusion
Tehran, Iran - The inclusion of Saudi Arabia, the UAE, and Iran, will significantly increase BRICS’ weight in the oil...
- Together with the existing participants, Russia and Brazil, these countries jointly command 39% of the global oil exports
- BRICS will also possess nearly half of the world's total oil reserves, amounting to 719.5 billion barrels out of 1.6 trillion