Riyadh Season 2024 signs sponsorship agreements with local, global partners
Riyadh, Saudi Arabia-- A signing ceremony for Riyadh Season 2024 sponsorships was held on Thursday at Via Riyadh.General Entertainment Authority...
Business
Microsoft beefs-up its AI assistant with voice, vision
San Francisco, United States - Microsoft on Tuesday doubled down on deploying artificial intelligence to consumers, releasing an updated version of...
Business
Business
Dubai Center for Family Businesses issues guidelines
DUBAI, UAE – The Dubai Center for Family Businesses, which operates under the Dubai Chambers umbrella, has released a ‘Sample...
- The ‘Sample Article of Association for Family Businesses’ outlines a set of options for companies to update their contracts.
- The Article of Association takes into account the requirements of family businesses who are registered as limited liability companies (LLCs).
Business
Google Chrome begins restricting cookies in first step towards elimination
Paris, France - Google has begun limiting third-party cookies for some users of its Chrome web browser, a first step towards...
- Cookies, small files which are used to target advertising by tracking web navigation, have recently been subject to greater regulation.
- Google announced in January 2020 that it would begin eliminating third-party cookies within two years, but the start has been delayed several times.
Business
Tesla to recall 1.6m EVs in China
China is a vital component in US-based Tesla's global layout.
- Problems related to assisted driving functions and door-locking systems are said to be the reason for the recall of cars
- The recall also includes 7,538 imported Tesla models made between October 26, 2022 and November 16, 2023
Business
Dubai records $1.57 billion in weeklong real estate transactions
Dubai, UAE -- A total of 1,721 real estate and properties transactions valued at AED 5.8 billion ($1.57 billion) were...
- The DLD weekly report said that114 plots were sold for AED 1.36 billion, 1,183 apartments and villas were sold for AED 3.13 billion.
- A total of 98 properties were granted between first-degree relatives worth AED 617 million.
Business
PIF completes investment in MEPCO
The sovereign wealth fund acquired 23% stake in the firm.
- MEPCO is a manufacturer specializing in the production and recycling of paper-based products in the Middle East and North Africa region.
- PIF aims to expand MEPCO production, enhance its operational efficiency, and support environmental sustainability, through recyclable products, including paper goods.
Business
AD Ports to build passenger terminals at Egyptian Red Sea ports
Cairo, Egypt--AD Ports Group (AD Ports) has signed a contract with Egypt to build, develop, operate and maintain terminals for...
- According to the Egyptian ministry of transport, the contract entails AD Ports Group to develop yacht and cruise-ship tourism in Egypt
- The cruise lines will be operated between Zayed Port and Safaga, Hurghada and Sharm El-Sheikh and, later, Arabian Gulf ports, and Europe
Business
Yanbu industrial port receives first RORO vessel, carrying nearly 2,000 cars
Yanbu, Saudi Arabia - The King Fahad Industrial Port in Yanbu welcomed the arrival of the "Hoegh Sydney," marking the...
- The port's strategic location along the Red Sea coast, coupled with its infrastructure, has attracted global shipping lines
- It boasts high operational capabilities with wide approach channels accommodating larger vessels with berth depths up to 18 meters
Business
Alba sets new production record
It produced 1,620,665 metric tonnes of aluminium in 2023.
- The CEO of Alba said that the company was not just celebrating numbers but the human capital behind "such achievement"
- He expressed his gratitude to the chairman of the board and also members of the board for their support during 2023
GCC business landscape evolves with rising AI tide
Companies in the region are leveraging artificial intelligence to enhance customer experiences, streamline operations, and stay competitive in the dynamic...
- Companies in the region are leveraging artificial intelligence to enhance customer experiences, streamline operations, and stay competitive in the dynamic marketplace.
- Driven by Saudi Arabia's 2030 plan and Dubai's Industrial Strategy 2030, the GCC sees a surge in AI adoption, facing regulatory and cybersecurity challenges in the cloud era.
Business
Penguin, SkyBlue ink MoU
The aim is to redefine outdoor media advertising in Abu Dhabi.
- Penguin and SkyBlue will collaborate on key advertising locations, with this being the Malaysian firm’s first move into the Abu Dhabi market.
- This follows an agreement between the Malaysian outdoor advertising company with the Road and Transport Authority (RTA), Dubai.
Riyadh Season 2024 signs sponsorship agreements with local, global partners
Riyadh, Saudi Arabia-- A signing ceremony for Riyadh Season 2024 sponsorships was held on Thursday at Via Riyadh.General Entertainment Authority...
Business
Company News
GAS, SPPC ink two contracts
Business
Ooredoo, Nokia sign MoU
Business
Latest News
ADIB 2023 net profit $1.4bn
Business
Gulf aviation industry sets sky-high standards
"The demand from certain sectors indicates a strong interest in First Class, prompting us to introduce a newly-designed First Class...
Business
UAE’s working mothers get extended maternity leave
The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120...
Business
Air Arabia shareholders approve 20% dividend for FY2023
SHARJAH, UAE – Air Arabia shareholders approved the distribution of a 20 percent cash dividend for the financial year ended...
Business
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Economy
Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023
RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...
- This translates to a non-oil economy valued at US$$453 billion (SAR1.7 trillion) at constant prices.
- Non-oil economy is valued at $$453 billion at constant prices, fueled by growth in investment, consumer spending and exports.
Business
Vodafone sells Italian unit to Swisscom
British telecoms giant sold the business for US$8.7 billion.
- Vodafone has been on a cost-cutting campaign that has included layoffs and the offloading of divisions abroad
- Its CEO said the deal with Swisscom marked the "third and final step in the reshaping of our European operations"
Business
Nissan, Honda in tie-up for EVs
The alliance will take on China's dominant EV makers.
- The MoU could include cooperation on a common EV powertrain and joint procurement of batteries and other components
- The firms announced a joint news conference at 3:30 pm (0630 GMT) in Tokyo without giving further details at this point in time