UAE leads global charge in generative AI adoption
With 40 percent of UAE workers already exploring generative AI, the nation stands as a beacon of tech adoption, far...
Business
Michelin posts record operating profits
Sales at the French firm dipped last year to US$30.5bn.
Business
Business
Egypt to levy 10% customs tax on import of mobile phones
Egypt has decided to levy a ten percent customs tax on the import of mobile phones in order to promote...
- Egypt’s Minister of Finance explained that the amendments aim to encourage investment, maximize production facilities
- The amendment of some categories of customer tariffs comes in light of the conclusions reached by the Higher Council of Customs Tariffs in Egypt
Business
Multiply Group to list on ADX
Listing opportunity for investors to invest in disruptive technologies.
- Multiply Group will become the eighth IHC subsidiary to list on the ADX in less than a year.
- The group has Multiply has assets of AED8.16 billion ($2.2 billion) and 3,240 employees.
Business
Qatar affirms its commitment to WTO agreements
Qatar has affirmed its commitment to the principles and agreements of the World Trade Organization (WTO), and praised the body's...
- During the meeting in Geneva the two sides discussed ways to enhance bilateral cooperation and support the ongoing negotiations within the framework of the organization
- The minister stressed Qatar's commitment to the principles and conventions of the World Intellectual Property Organization
Science
Pfizer already working on Covid vaccine targeting Omicron: CEO
Bourla likened the situation to the scenario earlier this year when Pfizer and its German partner BioNTech developed a vaccine...
- Bourla likened the situation to the scenario earlier this year when Pfizer and its German partner BioNTech developed a vaccine in 95 days against Delta which was not used
- On Monday, the World Health Organization warned the new Covid-19 Omicron variant poses a "very high" risk globally
Business
Twitter gets new CEO
Parag Agrawal named to the post as Jack Dorsey resigns.
- Twitter's chief technology officer Parag Agrawal has replaced Jack Dorsey as CEO
- Dorsey has said he would remain a member of the board until around May next year to help with the transition
Interview
Marka Group’s bankruptcy a lesson for GCC firms?
Barry Greenberg, Of Counsel at BSA Ahmad Bin Hezeem & Associated, breaks down what a landmark bankruptcy ruling means for...
- The Marka Group ruling has brought into sharp focus the bankruptcy laws prevalent in the GCC countries in general and the UAE in particular
- They have also spurred calls for reform in the local bankruptcy laws, so that investors or the company don’t lose value
Market Report
Multiply Group to list on ADX
Multiply Group has assets of AED 8.16 billion and 3,240 employee
- The group’s listing on ADX will offer investors the opportunity to invest in the field of disruptive digital technology and other key industries
- The company’s combined portfolio strikes a balance between companies that generate recurring income and high-growth businesses
Geostrategy
Saudi motorsports chief says F1 debut is ‘signal’ to the world’
The newly built venue in Jeddah is all but completed ahead of Sunday's night race just over a year after...
- The newly built venue in Jeddah is all but completed ahead of Sunday's night race just over a year after Saudi Arabia was announced as the wealthy Gulf region's latest F1 host
- Formula One is part of a campaign to show a friendlier face as the world's top oil exporter tries to attract foreign businesses and diversify its economy
Economy
UAE seeks to diversify economy beyond oil
With little oil but the most diversified economy in the Gulf, Dubai has gone from a fishing village to a...
- With an economy second only to Saudi Arabia in the Gulf, the Emirates is one of the easiest countries in the world to do business, according to the World Bank
- But having diversified its economy over the decades, it relies less and less on petrol, with revenues now making up only 30 percent of its GDP
Business
Emirates Stallions acquires stake in WFC
Acquisition aimed at diversifying Emirates Stallions' business.
- WFC’s main revenue drivers are Real Estate, Retail, Aerospace, Defense, Government, Education, Technology, Manufacturing, Hospitality, and F&B.
- Emirates Stallions Group is present in 20 markets and has assets of AED555 million as of the end of Q2 2021 and over 3,000 employees.
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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
UAE leads global charge in generative AI adoption
With 40 percent of UAE workers already exploring generative AI, the nation stands as a beacon of tech adoption, far...
Business
Company News
Latest News
Cristiano Ronaldo’s goal propels Al-Nassr to win King Salman Club Cup
Taif, Saudi Arabia-- Cristiano Ronaldo led his team to victory as Al-Nassr FC won the 2023 King Salman Club Cup...
Business
Saudi home to three of top five Arab smart cities
Saudi Arabia, which has pioneered the development of smart cities in the region, plans to establish more than 200 smart...
Infographics
Cage fight with Zuckerberg will be in Italy, says Musk
WASHINGTON, US - Elon Musk said that his much-hyped cage fight with Mark Zuckerberg would take place in Italy, as authorities...
Business
Most Read
Geostrategy
US to invest $1.2 bn on facilities to pull carbon from air
The two projects -- in Texas and Louisiana -- each aim to eliminate one million tons of carbon dioxide per...
- Direct Air Capture (DAC) techniques focus on that CO2 emitted into the air, which is helping to fuel climate change and extreme weather.
- Each of the projects will remove 250 times more CO2 from the air than the largest carbon capture site currently in operation, the Energy Department said.
Arts & Culture
Riyadh to host Peace and Sport Middle East Forum in Oct
Riyadh, Saudi Arabia -- For the first time, Riyadh will host the Peace and Sport Middle East Forum, powered by...
- The forum will be held under the theme, “Sport is an answer for peace”, at the Cultural Palace in Riyadh-based Diplomatic Quarter
- The kingdom will be hosting several big sporting events as it aims to attract foreign interest as it diversifies its economy away from oil
Economy
Brazilian striker Firmino scores hat-trick on Saudi debut
Jeddah, Saudi Arabia--Brazilian forward and former Liverpool star Roberto Firmino hit a hat-trick on his Saudi Pro League debut on Friday...
- The Brazilian striker scored the goals in the 6th, 10th and 72nd minutes for the team who also fielded several new signings
- Saudi Pro League backed by the kingdom's sovereign wealth fund has lured big names from the major European leagues