Doctors play key role in enhancing healthcare system
“Emirati doctors play a key role in enhancing the healthcare system and promoting health and wellness throughout society. We look...
Business
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.
Business
Abu Dhabi Global Market to begin Monday-Friday workweek from Jan 1
Abu Dhabi Global Market (ADGM) has announced that it will commence a Monday to Friday working week from 1 January...
- ADGM said the new working week brings Dubai's business community and financial sector closer to global markets and real-time economic and trading activities.
- More than 3700 entities are registered with the ADGM and it has a strong pipeline of growth, said the IFC in a statement.
Business
Jordan bank plans acquisition
Central Bank will acquire the Societe Generale Bank Jordan.
- The acquisition is said to be part of a drive to expand the Central Bank's foothold regionally and domestically
- Its chairman Bassem Al Salem said the bank would also issue $100 million in perpetual bonds to help drive growth
Business
Spider-Man first $1bn post-pandemic movie
No Way Home has grossed $467.3 million in North America and $587 million internationally since its release earlier this month.
- Spider-Man has become the first billion-dollar-grossing film of the pandemic era
- The movie took an estimated $81.5 million in North America over the Christmas weekend
Business
Evergrande vows to deliver homes
The Chinese real-estate firm has $300 billion in liabilities.
- In recent months, Evergrande has repeatedly said it will finish its unfinished projects and deliver them to buyers
- This, despite the company having missed a payment of more than $1.2 billion earlier this month
Business
Ecommerce changes GCC buyers, sellers forever
As ecommerce expands, companies are becoming more aware of the region's shifting consumer behavior and needs, say experts.
- Retailers in the region are becoming more aware of the necessity to create ‘brand.com’ sites
- AR and AI will become more commonly used to improve the consumer experience
Business
KPMG Lower Gulf revenues up, workforce rises by 21 percent
KPMG International announced annual aggregated revenues for KPMG firms globally of $32.13 billion for the fiscal year ending 30 September 2021....
- KPMG International announced annual aggregated revenues for KPMG firms globally of $32.13 billion for the fiscal year ending 30 September 2021.
- Advisory grew 17 percent, Audit 4 percent and Tax & Legal Services at 8 percent, the firm said.Â
Business
Saudi Arabia Pavilion at Dubai Expo2020 records 2 million visitors
Fireworks and laser lights were launched to announce the new record as pavilion’s employees and public gathered in the ‘opportunities’...
- This is a new record as nearly 30 percent of the total number of visitors to Expo visited the Saudi Pavilion since its official opening.
- The Kingdom's pavilion at Expo 2020 Dubai succeeded in increasing its visitors through its various economic events and cultural activities.
Business
Dubai launches one-stop-shop online portal for timeshare operators
Dubai’s Department of Economy and Tourism (DET) has launched an online portal that provides a ‘One-Stop-Shop’ for timeshare operators to...
- The Timeshare Portal supports the legal framework created by Dubai’s new Timeshare Law.
- It allows allows potential operators to register and submit their applications for timeshare properties and obtain a permit as a licensed timeshare operator.
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Inditex posts record profit
Business
Another Saudi sports push: PIF buys stake in US mixed martial arts league
Combining elements of everything from boxing to judo and Muay Thai, mixed martial arts (MMA) had a limited following in...
Business
GCC asset management market $500bn by 2026
Strong capital inflows, a young and growing population and growing awareness about asset management will drive the sector's growth in...
Business
UAE first half non-oil foreign trade hits all-time high of $337 billion
The results are buoyed by record non-oil exports, which reached AED 205 billion in H1 2023, an 11.9 percent growth...
Business
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Business
Equities extend gains on US jobs data, China rate cut hopes
The mood was brightened by a report that China's biggest state-backed banks would slash rates on mortgages and deposits as...
- A separate report revealed consumer confidence falling owing to concerns about jobs, higher rates and lingering inflation.
- The readings come ahead of the release of the Fed's preferred gauge of inflation -- the personal consumption expenditures price index --Â this week.
Business
Oil prices spike on US stockpile draw and hurricane fears
Dubai, UAE--Oil prices extended gains on Wednesday after industry data showed a large draw in crude inventories in the U.S.,...
- U.S. West Texas Intermediate crude futures gained 38 cents, or 0.47%, to $81.54, logging its fifth session of gains
- According to some analysts, the bigger-than-expected draw in U.S. crude oil stockpiles is positive for the oil market
Business
Global dividends hit record US$568 billion in Q2
According to a report by asset management firm Janus Henderson, payouts to shareholders are expected to grow further in spite...
- The report said banks accounted for half of the world's dividend growth as their margins were boosted by interest rate hikes
- Nestle, Swiss food giant, was the world's biggest dividend payer, followed by British bank HSBC and German automaker Mercedes-Benz