MENA startups optimistic despite funding fluctuations
In January 2024, MENA startup funding dropped 34% to US$ 86.5 million across 33 deals, with the UAE leading, followed...
Business
AI in the Middle East: From potential to profit
The region is making significant strides in integrating AI into various sectors, promising substantial productivity gains and innovation, a latest...
Business
Business
Saudi designates China’s NIPA as patent searching and examining authority
The Saudi Authority for Intellectual Property (SAIP) has designated the National Intellectual Property Administration of China (CNIPA) as International Searching...
- The move allows international patent applicants in the kingdom to select CNIPA to issue international search reports for their applications.
- Saudi authorities see the development as an enhancement of cooperation between the two sides in the field of intellectual property.
Arts & Culture
Turkish crisis turns books into vanishing luxuries
The Turkish book industry pinpoints one of the flaws in the economic experiment Erdogan has unleashed on his nation of...
- The Turkish book industry pinpoints one of the flaws in the economic experiment Erdogan has unleashed on his nation of 84 million people in the past few months
- Turkish Publishers Association president Kenan Kocaturk said the coronavirus pandemic has contributed to book industry's problems by raising the price of unbleached pulp
Interview
‘Digital currencies are GCC future’
Payment landscape in Gulf countries is headed for a significant change, Ralf Wintergerst, Group CEO of G+D tells the TRENDS....
- Payment landscape in Gulf countries is headed for significant change as it’s among the fastest-growing e-commerce markets, Ralf Wintergerst tells the TRENDS
- Many central banks in the GCC region are already testing in sandbox environments to simulate a digital currency under real-world conditions, Wintergerst added
Business
‘Robot chef’ makes steaks at Israel restaurant
The "robot chef", which is the size of a large oven, can make three different steaks simultaneously -- though a...
- It mixes ingredients including beans, potatoes and chickpeas to create a texture that resembles that of real meat, says CEO of an Israeli startup.
- Around five percent of Israelis say they are vegan and the market for meat alternatives is on the rise.
Business
Dubai Chamber to start four-and-a-half day working week from Jan 2022
Dubai Chamber has announced that it will shift to a four-and-a-half day working week from 3 January 2022. This is...
- The new working week is in line with the newly approved workweek for UAE federal government employees.
- The official working hours will be nine working hours per day Monday-Thursday, from 8am to 5pm, and four working hours on Friday, from 8am to 12pm.
Business
Kuwait’s Warba Bank celebrates listing of $250m Sukuk on Nasdaq Dubai
Kuwait's leading Islamic bank, Warba Bank, celebrated the listing of the bank's $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai...
- This was the third listing after a $250 million and a $500 million instrument in Mar 2017 and Oct 2019 respectively.
- The new listing brings the total outstanding value of the bank’s Sukuk on the exchange to $898 million.
Economy
Jordan tourism revenues pass $21 million in first 11 months of 2021
The total number of tourists coming to the Kingdom in the period has surpassed 2.1 million, while the number of...
- The total number of tourists coming to the Kingdom in the period has surpassed 2.1 million, while the number of overnight tourists has inched up by 8.9 percent
- Jordanian Minister of Tourism Nayef Al-Fayez said that the National Tourism Strategy is geared to attract more tourists than recorded in 2019, before the outbreak of the pandemic
Business
Etihad signs China deal
The airline will work with the Henan Province Airport Group.
- The virtual MoU was signed during the virtual Zhengzhou Week event at the China Pavilion at Expo 2020 Dubai
- It is said to contain plans for Etihad’s potential operation of regular cargo services between Abu Dhabi and Zhengzhou
Business
Binance gets nod to become crypto asset service provider in Bahrain
The regulatory approval, the first in the Middle East and North Africa region, may push Binance to set up its...
- The regulatory approval, the first in the Middle East and North Africa region, may push Binance to set up its headquarters in Manama
- The second regulatory approval for Binance has come from Canada, which has approved a money services business license
Business
Saudi Central Bank seeks consultation on real estate refinance regulations
The Saudi Central Bank "SAMA" has released a public consultation on rules for regulating the business of real estate refinance...
- The draft can be reached by visiting Public Consultation Platform affiliated with the National Competitiveness Center at https://istitlaa.ncc.gov.sa.
- SAMA has invited the public, specialists, and interested individuals to provide their views and observations on the rules within 30 days.
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MENA startups optimistic despite funding fluctuations
In January 2024, MENA startup funding dropped 34% to US$ 86.5 million across 33 deals, with the UAE leading, followed...
Business
Company News
Latest News
Etihad Cargo flight lands in Hubei
Hubei's Ezhou Huahu Airport is world's fourth professional cargo airport.
Business
Elon Musk arrives in Japan for first visit since 2014
In 2014, the CEO of Tesla and SpaceX visited Japan for a ceremony marking his electric car-making company's full-scale entry...
Business travel in MEA likely to bounce back by 2024
Business travel spending hit $23bn in 2022, nearing pre-pandemic levels as post-pandemic business trips get longer, supported by UAE's digital...
Business
Most Read
Business
Dubai real estate market records deals worth $653 million
Dubai, UAE -- Dubai's real estate market recorded deals worth AED 2.4 billion ($653 million) on Thursday, according to Dubai...
- The deals included 591 sales transactions worth AED1.76 billion on Thursday, in addition to 125 mortgage deals totaling AED613.72 million.
- The sales included 561 villas and apartments worth AED1.42 billion, and 30 land plots worth AED336.26 million.
Arts & Culture
Falconers meet in Abu Dhabi for special auction from Sept 2-8
Abu Dhabi, UAE -- Following the success of the Falcon Auction in the last edition of Abu Dhabi International Hunting...
- The previous edition witnessed the purchase of the most expensive falcon in ADIHEX’s history, as the American falcon (Pure Gear - Ultra White) was sold for more $250,000.
- The 2023 auction will witness new features, including the falcon daily raffle draws offered by Umm Jeniba Farm to the auction’s audience and raffle draws to the participants.
Business
Sharjah records real estate deals worth $517 million in July
Sharjah, UAE -- Sharjah has recorded real estate transactions worth AED1.9 billion ($517 million) during July 2023, according to the monthly...
- The department executed a total of 2,783 transactions, including 684 sales transactions across 96 areas in various regions of the emirate.
- The number of mortgage transactions were 447, constituting 16.1 percent of the total number of transactions with a value of AED420.1 million.