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
ATO partners with ISM to boost tourism in the Middle East
Jeddah, UAE--The Arab Tourism Organization (ATO) has signed a partnership agreement with the International Strategic Management (ISM) company to achieve...
Business
Business
Dubai World Trade Center to become regulator for virtual assets, crypto
The World Trade Center will deliver and oversee a new world-class regulatory framework of Virtual Asset legislative and enforcement policies.
- The announcement follows the efforts to further develop Dubai virtual assets and markets, includes creating a framework for financial products.
- The Dubai World Trade Centre will collaborate with the private sector and relevant entities in Dubai to create an attractive environment for the sector.
Business
BNP Paribas sells US unit Bank of the West for $16.3 billion
French lending giant BNP Paribas said Monday it had sold its US retail and commercial banking arm Bank of the...
- BNP has owned the bank since 1979 and operates 555 branches in 20 US states, with over 9,000 staff.
- The French lender said the US arm had accounted for around five percent of its group-wide pre-tax earnings of between 12 and 14 billion euros in recent years.
Geostrategy
Dubai airport fully operational for first time since pandemic
Dubai airport, one of the world's busiest travel hubs, is fully operational for the first time since the coronavirus pandemic...
- Travel via Dubai increases at the end the year, with foreigners -- who make up the majority of the emirate's population -- heading home for the holidays.
- Since the pandemic began, the UAE has registered over 744,400 cases, including 2,152 deaths.
Economy
Dubai emerges as global superyacht capital
Dubai is now home to 15 marinas with more than 3,000 berths, which can accommodate an array of pleasure craft...
- Dubai is now home to 15 marinas with more than 3,000 berths, which can accommodate an array of pleasure craft and luxury yachts as well as superyachts and gigayachts
- More than 200 superyachts were registered across the Middle East as of 2019 with Dubai being the base for many of these vessels, says a report by Oxford Business Group
Arts & Culture
UAE ends cinema censorship, introduces 21+ age rating
The UAE announced Sunday it will no longer censor cinematic releases, introducing a 21 and above age rating for films...
- The UAE has decided that it will no longer censor cinematic releases
- The country has introduced a 21 and above age rating for films it classifies for mature audiences
Business
Abu Dhabi Ports Group to build first cruise facility outside of UAE
Abu Dhabi Ports Group has signed an agreement with the Aqaba Development Corporation (ADC) of Jordan to build a cruise...
- It will be the first facility to be developed by AD Ports Group in Jordan.
- Under the agreement, AD Ports Group's digital arm, Maqta Gateway will also manage the implementation of an advanced Ports Community System.
Business
Alpha Dhabi Holding to invest $272m in TA’ZIZ as part of expansion plans
Alpha Dhabi Holding, the Abu Dhabi-based conglomerate, has announced that it will be investing about AED1 billion in the Abu...
- Alpha Dhabi has announced targeting AED8 billion for investments in real estate, hospitality and healthcare.
- TA’ZIZ is an industrial services and logistics organization that enables and supports the growth of the Ruwais Industrial Complex.
Business
UAE gateway to GCC and Africa markets, says India’s industry minister
India's Minister for Commerce and Industry Piyush Goyal has said that his country's goal is to become the UAE's number...
- UAE commits $100 billion investment and infrastructure creation in India, says Piyush Goyal.
- The UAE-India CEPA will be India’s fastest-negotiated Free Trade Agreement ever between two nations, he said.
Business
Rossi appointed Acer Mideast VP
Michele Montecchio was appointed as Country Manager for the Middle East.
- Paul Collins, after driving the Acer Middle East and Africa business for seven years, has decided to retire.
- Rossi has been with the firm since 2007, having started in product development.
Business
Masses gearing up as NFTs enter video games
Non-fungible tokens are digital items whose certificates of authenticity and ownership are registered on blockchains, the technology behind cryptocurrencies.
- From art to fashion, the creative industries have been quick to experiment with this innovation
- NFTs, meanwhile, have sparked excitement and skepticism alike in the tech sector
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
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
Company News
Abu Dhabi event transforms global falconry
Arts & Culture
Latest News
GSA discusses cooperation with IIHF, ISU to boost winter sports in UAE
Dubai, UAE-- The UAE's General Sports Authority (GSA) and the International Skating Union (ISU) and International Ice Hockey Federation (IIHF)...
Business
Dubai leverages AI robots in testing construction materials
Dubai, UAE - Dubai has started using robots that employ X-Rays and other latest AI technologies to carry out automated...
Business
Industrial metaverse eyes $1trn with output boost
The latest technology is poised to transform the industrial sector, with a market expected to reach $400 billion by 2030,...
Business
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Business
ACWA Power is preferred bidder for DEWA’s Hassyan Seawater Reverse Osmosis plant
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer said on Wednesday...
- This project is the largest of its kind in the world for water production based on Sea Water Reverse Osmosis technology using solar energy.
- The water desalination capacity in Dubai is currently 490 MIGD and this capacity will increase to 670 MIGD in 2026 with the completion of this project.
Business
Tencent Q2 net income $3.6 bn
Tencent last year posted its first decline in quarterly sales since its listing.
- Tencent also announced an 11 percent increase in revenue during the second quarter, reaching 149.21 billion yuan ($20.46 billion).
- The Shenzhen-based firm is the world's largest video game company in terms of revenue, dominating the Asian market in particular.
Business
Chinese firms look to expand business in Ras Al Khaimah
Ras Al Khaimah, UAE - Chinese companies are seeking business opportunities in the Ras Al Khaimah Economic Zone (RAKEZ) as...
- RAKEZ currently houses more than 400 Chinese companies ranging from small to medium-sized enterprises (SMEs) as well as large industrial companies.
- This year, RAKEZ has already seen some key investments from Chinese companies, including Maxtron Show Lighting, manufacturer of computer-controlled, programmable LED light systems.