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
Supply chain challenges hit Ramadan retail rush
Logistical adaptations, strategic planning, and forecasting essential for addressing the unique demands of increased consumption during Ramadan, says Aramex's Tarek...
Business
Business
Take-Two to Zynga for $12.7bn
The GTA-maker plans more smartphone versions of its games.
- Take-Two is a leader in console and personal computing games like Grand Theft Auto, Red Dead Redemption, and NBA2K
- Zynga is known for its mobile-device games, like Farmville, which became a phenomenon in the 2010s on Facebook
Business
Over 6m cellphone subscriptions in Oman till Nov 2021
During the same period, fixed internet subscriptions totaled 526,367 and the fixed landline subscriptions went up to 577,966.
- During the same period, fixed internet subscriptions totaled 526,367 and the fixed landline subscriptions went up to 577,966
- The period saw the capacity of the internet decrease by 2.6 percent to 1,501,777 megabytes
Business
Three-day international e-marketing, e-commerce exhibition begins in Riyadh
The President of the Saudi Post Corporation "Sabil" Anf bin Ahmed Abanmi, inaugurated on Monday the Saudi International Exhibition for...
- The concept of creating websites for Electronic platforms and applications in the field of marketing and e-commerce will be a part of the event.
- The exhibition will hold a number of sessions, training courses and free workshops with certificates of attendance, presented by a group of specialists.
Economy
UAE private sector asked to pay employees through Wage Protection System
The UAE Ministry of Human Resources and Emiratization (MoHRE) called on private sector establishments to commit to timely paying the...
- Ministry of Human Resources and Emiratization asks employers to register and document any agreement with their workers regarding the change of wages through the approved system.
- The UAE has been the pioneer in launching the WPS, which, since its implementation in 2009, has been praised by the International Labor Organization.
Business
UAE and Mexico discuss parliamentary cooperation
Dr. Tariq Humaid Al Tayer, Head of the Emirati-Latin American and North American Parliaments Friendship Committee of the Federal National...
- Both sides discussed ways of boosting the parliamentary cooperation between the UAE and Mexico, by signing a Memorandum of Understanding (MoU)
- Al Tayer lauded the advancing bilateral relations between the two countries, which were established in 1975
Business
Biggest MENA steel event begins at Expo Centre Sharjah
The exhibition highlights state-of-the-art innovations of more than 400 world-leading brands from 30 countries
- The 4-day event is organized by the Expo Centre Sharjah with the support of the Sharjah Chamber of Commerce and Industry
- The event would display modern technologies in metal forming, laser systems for metal cutting, steel fabrication machines
Business
MoHRE of UAE asks employers to pay wages via WPS
The Ministry of Human Resources and Emiratisation (MoHRE) has asked private sector establishments to pay the wages of their workers...
- The WPS enables employers to fulfill their obligations towards their workers in the easiest way through the strategic partnership with the Central Bank
- MoHRE provides the 'Statement of Account' service to the establishments registered with it on a monthly basis
Business
Zayed University teams up with Injazat for EdTech projects
Zayed University has signed a Memorandum of Understanding (MoU) with Injazat, a Digital Transformation, Cloud, and Cyber Security company, to...
- The partnership will see Zayed University match students from their College of Interdisciplinary Studies
- The program will benefit from InGenius, the dynamic innovation lab by Injazat that follows the methodology of using agile practices, lean processes
Business
GMG to foray into North Africa
Plans to open more than 100 stores in Egypt within next five years.
- The group plans to introduce its sneakers-focused concept, dropkick, and its Nu Athlete concept catering to a youth demographic.
- Recently, GMG said that by 2025, it aims to double its global workforce through acquisitions, developing fresh concepts, and entering new geographies.
Business
Decrees regulating Dubai Chambers and their Boards issued by Sheikh Mohammed
Dubai Chambers has been established as a new entity, replacing the Dubai Chamber of Commerce & Industry, and Juma Al...
- One of the decrees establishes the Board of Directors for Dubai Chambers and appoints Abdul Aziz Al Ghurair as its Chairman.
- As per the new legislation, Dubai Chambers' main responsibility is to develop plans and policies to enhance the emirate's global status as an economic hub.
Potential investors value Telegram at $30bn, says co-founder Pavel Durov
MOSCOW, RUSSIA – The Telegram is valued by potential investors at more than US$30 billion, the co-founder of the social...
Business
Company News
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DFM registers 34,800 new accounts in 8 months
Dubai, UAE - Brokerage firms in the Dubai Financial Market (DFM) witnessed a substantial influx of New Investor Numbers (NIN),...
Business
Saudi Arabia and Singapore pledge to ramp up economic ties
Singapore-- Saudi Arabia and Singapore have pledged to enhance economic cooperation between the two countries and also reviewed the challenges...
Economy
Energy, commodity prices hurt profits of GCC firms
GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit...
Market Report
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Geostrategy
Iran’s non-oil export to ECO countries from Mar 21 to July 22 2023 reaches $3.6bn
TEHRAN, IRAN – Iran’s export of non-oil products to the Economic Cooperation Organization (ECO) member states in the first four...
- In the four-month period, Iran exported 8.161 million tons of non-oil commodities to ECO member states.
- In the same period, Iran imported 1.394 million tons of goods, valued at $2.445 billion, from the ECO states.
Economy
Qatar’s Q2 2023 budget posts record surplus of US$2.7bn
DOHA, QATAR - The Ministry of Finance announced that the budget of Qatar for the second quarter of the year...
- The surplus would be directed towards reducing public debt, raising the reserves of the Qatar Central Bank.
- It would be used for enhancing the savings of future generations through the Qatar Investment Authority.
Business
Markets mostly rise ahead of crucial United States jobs report
Wall Street's three main indexes ended a volatile August on a tepid note Thursday after data showed the Fed's preferred...
- The labor report comes at the end of a week that has seen traders cheered by figures indicating the world's top economy is showing signs of softening.
- Dealers also cheered the latest measures to help the property sector, which allow cities to cut down-payments for home buyers.