UAE records more than 25% growth in international card spending in 2023
Dubai, UAE--Total spending using international cards in the UAE witnessed a growth of more than 25% during the year 2023....
Business
Business
Emaar EC inks $16m contract
Emaar EC signed the $16-million contract with SAFE.
- As part of the contract, SAFE will provide security services at the King Abdullah Economic City
- It has a duration of five years from the date of signing, which happened on Monday, January 17
Science
US airlines once again warn against 5G deployment near airports
The heads of the largest US airlines warned of a "catastrophic disruption" to travel and shipping if telecom firms rolled...
- Verizon and AT&T have already twice delayed the launch of their new C-Band 5G service
- They were heeding warnings from airlines and aircraft manufacturers that the new system might interfere with certain devices
Business
Israeli tech firms line up for UAE manpower
Dozens of Israeli high tech companies are keen to open units in Dubai or Abu Dhabi after Rapyd's decision to...
- About a dozen portfolio firms of Israeli venture capital fund OurCrowd actively seek to open units in Dubai or Abu Dhabi, says its CEO Jon Medved
- Israeli fintech firm Rapyd is the first to decide that it will open an office in the UAE following the normalization of ties between the two countries
Business
Arada enters Dubai market
Full details will be revealed at the sales launch, scheduled to take place in the third quarter of 2022.
- Design work on Arada’s mixed-use project on Palm Jumeirah has begun and will contain residential, leisure and F&B components
- Arada’s projects include Aljada, Sharjah’s largest ever mixed-use megaproject where 5,000 units are currently under construction
Business
Jordan’s ISSF to invest $1.5 million in Dubai-based Global Ventures
The Innovative Startups and SMEs Fund (ISSF) will invest $1.5 million in Global Ventures
- Global Ventures is a Dubai-based growth-driven venture capital firm focused on investing in growth-stage technology.
- Investing in progressive funds such as Global Ventures supports ambitious SMEs to expand their businesses, ISSF said.
Business
UAE, South Korea ECAs sign MoU to boost green energy investments
The official export credit agencies of the UAE and South Korea have signed an MoU to boost investments in sustainable...
- Etihad Credit Insurance and K-SURE will work to facilitate support for various collaborative projects, especially hydrogen economy and renewable energy.
- They will also join forces to support the exporters operating in diverse industries to enter the global market.
Business
Assets of Jordan’s Social Security Investment Fund rise by JD1.1 bn in 2021
The assets of Jordan's Social Security Investment Fund (SSIF), the investment arm of the Social Security Corporation (SSC), jumped by...
- The fund’s overall returns on investment (ROI) amounted to JD575 million in 2021 against JD509 million in 2020.
- Bonds account for 57 percent of the SSIF’s investment portfolio, followed by stocks 16.6 percent.
Business
Black diamond worth $5m goes on display in Dubai
The world's largest known cut diamond went on public display for the first time Monday ahead of its sale, when...
- The Enigma, the name of the rare black carbanado diamond, was put on display in Dubai, in the United Arab Emirates
- The diamond is believed to have been created when a meteorite or an asteroid hit the Earth more than 2.6 billion years ago
Business
She overcame prejudice to ride sea waves
Sahar Al Rasti, the first Emirati female ship captain, said that working behind the rudders of ships for long days,...
- Her journey began in 2015 while working in the ports of Abu Dhabi as an administrative assistant
- The captain explained that she is very passionate about her job and craves to learn new things like discovering the secrets of maritime navigation
Business
TAQA Group, EWEC price green bond
The bonds were 1.8 times oversubscribed.
- The bonds, one of TAQA’s first forays into green financing, will refinance existing debt facilities of SPPC.
- TAQA is one of the largest listed integrated utility companies in the Europe, the Middle East and Africa.
Company News
Vodafone merges with Hutchison
Business
Latest News
Microsoft gambles big on Hollywood-esque ‘Starfield’ video game
The ever-evolving game is the tech giant's bid to lock players into its Xbox subscription service after some eye-poppingly enormous...
Business
Gaming industry posts exponential growth in Saudi Arabia: PayerMax COO
Riyadh, Saudi Arabia-- The gaming industry has witnessed exponential growth in Saudi Arabia with an average revenue per paying user...
Business
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Business
Real estate exchange transforms Saudi market
The stock exchange offers indices, real estate services, and wealth management. It ensures supply-demand balance, and swift transactions, while delivering...
- MENA's first real estate stock exchange, launched recently in Saudi Arabia, plans to digitize 180 million documents while offering comprehensive financing services
- New Saudi platform saw US$270 million transactions in first two days with 140,000 beneficiaries as real estate prices increased 0.8% in the second quarter of 2023
Business
Turkish Airlines orders 10 A350 Airbus
The airline disclosed no financial details in a statement.
- Turkish Airlines now has 14 A350-900s and 20 Boeing 787-9 Dreamliners, which is the European jet's main competitor in the long-range.
- An A350-900 was worth 317.4 million euros ($343 million) in 2018, when the aircraft manufacturer's price catalogue was last released.
Geostrategy
Israel and Bahrain agree to increase trade volume, boost tourism
"The foreign minister and I agreed that we should work together to increase the number of direct flights, the tourism,...
- Israeli Foreign Minister Cohen arrived in Bahrain on Sunday, accompanied by a business delegation of more than 30 companies.
- Earlier on Monday, he met Crown Prince Salman bin Hamad Al-Khalifa and discussed "the importance of advancing a free trade agreement".