UAE’s working mothers get extended maternity leave
The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120...
Business
Business
Latest tech in focus as UAE celebrates innovations
UAE Innovates 2022, described as the largest innovation festival in the world, seeks to instill a culture of innovation and...
- The Expo will have an MBRCGI display at Festival Garden, where creative government experiences will be featured
- In addition, private companies will also organize specific talks and workshops in several innovation spheres
Economy
Digital Cooperation Organization launches Startup Passport at LEAP
The Digital Cooperation Organization (DCO) has announced the launch of the DCO Startup Passport to make it quicker, easier and...
- The initiative will start initially in Saudi Arabia and Nigeria, opens potentially lucrative markets with a combined population of more than half a billion.
- The Startup Passport addresses the problems of SMEs challenges by reducing administrative and financial burdens and accelerating corporate registration.
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."
UAE’s working mothers get extended maternity leave
The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120...
Business
Company News
QSE unveils new trading system
Business
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Alibaba announces surprise departure of ex-CEO
CEO Daniel Zhang was due to take charge of the firm's new cloud computing branch, now a separate entity, on...
Business
Single window offers fresh air to Qatar enterprises
This enhanced suite of services simplify registration for investors, enabling them to complete company setup steps without visiting multiple ministries...
Business
Keen on promoting digital payments in India, UAE, says RBI
NEW DELHI, INDIA – The Chief General Manager of the Reserve Bank of India's Department of Payment and Settlement Systems,...
Geostrategy
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Business
$17.32bn projects launched on first day of Cityscape Riyadh
Riyadh, Saudi Arabia -- The Cityscape Global Exhibition, which kicked off Sunday in Riyadh, witnessed the launch of real estate...
- ROSHN Group will have four strategic partnerships of over SAR 9 billion in the fields of construction and infrastructure, Argaam reported.
- National Housing Co. (NHC) also unveiled three luxury projects in Al Forsan and Khuzam suburbs, which provide 86,000 housing units with a value exceeding SAR 42 billion.
Business
Saudi Arabia’s first social network Jaco attracts 1m users in 2 months
RIYADH, SAUDI ARABIA: The supervisor of the Kingdom's first social network Jaco - Saudi entrepreneur Fahd Al-Shidi announced that the...
- The Saudi Arabian entrepreneur and supervisor of the project expressed confidence that Jaco will reach 5 million users by the end of the year.
- At the official launch ceremony of the Jaco application in Riyadh, the supervisor expressed happiness at the success of the social network.
Business
Care secures $93.3m Murabaha facility
The long-term facility was obtained from Gulf International Bank.
- Care said the facility comprises SAR 100m revolving loan to be renewed periodically, and a SAR 250m long-term loan for a period of 10 years with a grace period of one year.
- The facility will be used to finance the company’s working capital requirements and support its strategy via expansion and acquisitions.