Ramadan influences consumer habits, retail strategy
The ongoing fasting month brings traditional practices and modern shopping habits together, impacting market trends significantly in the Gulf region.
Business
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
Business
SINOPEC inks Iraq gas deal
The contract includes training workers to keep up with the sector,
- Iraq has signed contract with to develop the Mansouriya gas field in Diyala in the Anbar Governorate
- This deal represents an addition to the investment of free gas from the Mansouriya field
Business
New business deals bring KSA, South Korea closer
The two countries are working on a broader strategy to strengthen collaboration in health care, science, technology, hydrogen, public health,...
- The visit was part of a broader strategy to strengthen bilateral collaboration in health care, science, technology, hydrogen, public health, and artificial intelligence
- The two countries signed 15 agreements totaling $8.2bn in 2019
Business
Dubai most popular holiday destination for 2022
The city overtakes London in the list of the "Top Destinations Around the World". Golden beaches, world-class restaurants, rave reviews...
- Dubai figured at the fourth place in the "trending destinations for food lovers" list and first in "Trip Advisors list for city lovers."
- More than 3.85 million tourists came to Dubai during the first nine months of 2021, according to the department of tourism and commerce marketing.
Business
Dubai records $1.11 billion worth of weeklong real estate deals
A total of 1,99The real estate and properties transactions valued at AED4.1 billion were recorded in Dubai during the week...
- The transactions included 287 plots that were sold for AED1.08 billion, while 1,059 apartments and villas were purchased for AED2.25 billion.
- The top three transactions were a plot of land in Al Hebiah Fifth that sold for AED190 million, followed by land that was sold for AED 45 million in Al Thanyah First.
Business
World needs smarter policies for carbon transition to succeed: Crescent Petroleum
Carbon transition policy must be tailored to each country’s needs and dynamics, Majid Jafar, the CEO of Crescent Petroleum, said.
- Carbon transition policy must be tailored to each country’s needs and dynamics, Majid Jafar, the CEO of Crescent Petroleum, said
- Crescent Petroleum became one of the first companies in the industry to achieve carbon neutrality across its operations in 2021
Business
Israeli firm develops body cams with facial recognition
Tirza, a former Israeli army colonel, says his company Yozmot Ltd aims to produce a body-worn camera enabling police to...
- Tirza, a former Israeli army colonel, says his company Yozmot Ltd aims to produce a body-worn camera enabling police to scan crowds and detect suspects in real time
- Facial recognition in law enforcement has sparked global criticism, with US tech giants backing away from providing the technology to police, citing privacy risks
Business
Savii seeks to empower GCC teens financially
The new UAE-based start-up is trying to instil the virtues of economy among teenagers in the region
- The app is currently available on iOS and Android in Bahrain, allowing teens to pre-register for Savii cards
- Savii has constituted a youth advisory board, enabling teens to have a say in the product design and functionality
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Arab countries see surge in crypto investors
In 2021, Triple-A estimated global crypto ownership rates at an average of 3.9 percent, with over 300 million cryptocurrency-owners and...
- Consultancy firm Triple-A estimates global crypto ownership rates at an average of 3.9 percent
- The number of cryptocurrency investors is expected to rise in 2022, mainly in the UAE and Bahrain
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Saudi Arabia leads as MENA region sees gaming boom
The MENA region's gaming revenue is set to hit $7.2bn in 2023, representing 17% of global gamers, while Saudi Arabia's...
Business
Apple, Facebook among tech giants to face tough new EU curbs
The European Commission, the EU's powerful antitrust body, named 22 "core platform" services belonging to five US tech behemoths identified...
Business
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Business
OIA invests in US battery firm ONE
ONE is focused on high-density LFP-based batteries.
- OIA and ONE signed a Strategic Collaboration Agreement (SCA) to explore potential areas of collaboration in energy storage and battery manufacturing in Oman.
- ONE is focused on high-density LFP (Lithium Iron Phosphate)-based batteries, which are created from lower-cost, more abundant iron.
Business
ADCB prices $650m green bond
The bond will be used to finance eligible green assets.
- It was 2.9 times oversubscribed, attracting interest from a range of local, regional and international investors that placed total orders of over $1.9 billion.
- As of 30th June 2023, ADCB’s eligible green loan portfolio had experienced notable year-on-year growth of 61 percent, reaching $1.65 billion, he said.
Musk threatens to sue anti-defamation group for falling revenue
Billionaire Musk has also previously been accused of fueling anti-Semitic tropes, including attacks against Jewish philanthropist George Soros. According to...
- Musk late Monday accused the US-based Jewish organization of making unfounded complaints against him and X that have scared away advertisers
- In a 2016 report, the group said anti-Semitic attacks against journalists had exploded on Twitter, "thanks to the rhetoric in the 2016 presidential campaign"