Cyber insurance shapes the future of cybersecurity
Cyber insurance, particularly around ransomware, is moving towards a world where insured businesses have strong cyber resilience, well-defined disaster recovery...
Opinion
Potential investors value Telegram at $30bn, says co-founder Pavel Durov
MOSCOW, RUSSIA – The Telegram is valued by potential investors at more than US$30 billion, the co-founder of the social...
Business
Business
Tibbiyah of Saudi Arabia to offer 5m shares through IPO
Tibbiyah of Saudi Arabia that also goes by the name of the Arabian International Healthcare Holding will offer 5 million...
- The company’s capital is divided into 20 million shares
- The offer price will be determined before the subscription period, which will begin on Tuesday February 15 and will end on Thursday February 17
Business
Indonesian student’s selfies fetch $1m in NFT sales
Sultan Al Ghozali, a computer science student at a university, has taken a picture of himself sitting in front of...
- He intended to use the collection of nearly 1,000 selfies to create a timelapse video for his graduation day.
- After learning about blockchain technology, the 22-year-old decided to upload the photos to NFT trading platform OpenSea under the title "Ghozali Everyday"
Business
Bahraini imports increase by 18 percent in Q4 2021
The value of Bahraini imports increased by 18 percent in the fourth quarter of 2021, reaching BD1.406 billion, the Information...
- The top 10 countries accounted for 71 percent of the value of imports, with the remaining countries accounting for 29 percent, Bahraini media reports said.
- The value of exports of national origin increased by 99 percent to BD1.192 billion during the fourth quarter of 2021.
Business
ADDED lays down strict rules on ‘hazardous materials’
ADDED has directed commercial and industrial facilities in the Emirate to license warehouses of hazardous materials away from their headquarters...
- ADDED has directed commercial and industrial facilities in the Emirate to license warehouses of hazardous materials away from their headquarters
- Special requirements, in line with criteria and stipulations of regulatory government entities were introduced
Business
Saudi energy minister says OPEC+ is independent
Prince Abdulaziz bin Salman, Saudi energy minister, has remarked that the OPEC+ group is independent and against any external interference...
- Prince Abdulaziz pointed out that the OPEC+ policy has succeeded in providing the oil market with the supplies it needs at all times
- Its decisions have come against a backdrop of pressure from countries such as the US, which want oil production drastically increased to tackle rising prices
Business
Citi to sell SE Asian biz for $3.6 bn
Singapore's United Overseas Bank will buy the franchises
- The total price of the Singapore's United Overseas Bank acquisition is Sg$4.9 billion ($3.6 billion).
- As part of the deal, around 5,000 Citi employees are expected to transfer to UOB, the lenders said.
Business
Football transfer values hit 5-year low in 2021: FIFA
A total of 18,068 transfers were registered, against 17,190 in 2020, a rise of 5 percent. The top 10 transfers...
- Spending on transfer fees was $4.86 billion, down 13.6 percent from 2020 and 33.8 percent from the record levels of 2019
- Players from France accounted for the highest amount of spending, with $643 million, displacing Brazil from the top spot
Business
Moody’s ranks QIIB ‘stable’
It has also has assigned the Qatari bank an A2 rating.
- Moody's said the rating reflects the bank’s position as one of Qatar's leading Islamic financial institutions
- It added that the financial institution has solid asset quality, profitability, liquidity, and capitalization
Economy
Bitcoin mining for all
Block is building a system to mine bitcoin.
- Block changed its name from Square late last year to denote a broader mission that includes blockchain and economic empowerment
- Hardware and software teams at Block will openly collaborate with the cryptocurrency community outside the San Francisco-based company
Geostrategy
China wants greater GCC role in global, regional affairs
GCC Secretary-General Naif Falah Al-Hajraf and Chinese State Advisor and Minister of Foreign Affairs, Wang Yi, also agreed on a...
- In a joint statement, the Chinese side is said to have praised the GCC’s achievements since its inception 40 years ago
- The two sides concurred on the completing negotiations on the free trade agreement between the GCC and China as soon as possible
Cyber insurance shapes the future of cybersecurity
Cyber insurance, particularly around ransomware, is moving towards a world where insured businesses have strong cyber resilience, well-defined disaster recovery...
Opinion
Company News
Latest News
Italy’s Eni plans to invest $7.7 bn in Egypt
Cairo, Egypt - Italian energy giant Eni has revealed plans to invest $7.7 billion in Egypt's energy sector over the...
Business
GCC Secretary General praises DCO role in digital transformation of Saudi economy
RIYADH, SAUDI ARABIA – Secretary General of the Gulf Cooperation Council (GCC)Jassem Mohamed Albudaiwi visited the Digital Cooperation Organization (DCO)...
Geostrategy
Global space economy is worth billions, say experts
ABU DHABI, UAE - The global space economy has great potential in terms of economic prospects, with the sector going...
Business
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Business
UAE and Brazil launch partnership to exchange expertise in economy
Dubai, UAE -- The governments of the UAE and Brazil have launched a partnership to exchange knowledge and expertise in...
- The Programme focuses on partnerships and enhancing cooperation with governments in sharing knowledge and expertise in the fields of modernization, development and government.
- The launch of the partnership came as part of a visit by a Brazilian official delegation led by Alexandre Cordeiro Macedo, President Administrative Council for Economic Defense.
Business
PIF to buy Hadeed, Rajhi Steel
New firm will help Kingdom’s steel-making capacity.
- The transactions are in line with PIF’s broader efforts to accelerate Saudi Arabia’s industrial development.
- Move will help in construction, automotive, utilities, renewables, transport sectors in line with Saudi Vision 2030.
Business
Improving power situation in Libya brightens life
Till last year, outages could last 20 hours, turning the streets dark and leaving residents sweltering in temperatures above 40...
- Chronic electricity shortages had shaped the daily lives of Libyans since the fall of Moamer Kadhafi in a NATO-backed 2011 uprising.
- A decade of stop-start fighting between rival groups followed, adding combat damage and looting to the dilapidated grid in Libya.