Bitcoin crosses $50,000 for first time since 2021
The cryptocurrency has enjoyed a strong run-in recent month, fueled by expectations US lawmakers would allow the creation of exchange-traded...
Business
solutions by stc, Devoteam ink MoU
The aim is to foster avenues for collaboration in technology.
Business
Business
Saudi officials seize a big haul of drugs at border
Saudi officials of the Zakat, Tax and Customs Authority (ZATCA) have seized more than 2.1 million Captagon pills at Haditha...
- In the first attempt to smuggle in some 467,441 Captagon pills, the smuggler hid them in the cavity of one of the trucks coming through the point
- The officials said that they have arrested 12 people in connection with the smuggling bid
Economy
Iran, Turkmenistan, Kazakhstan sign MoU on railway cooperation
The rail cooperation document was signed between the three countries on the sidelines of the summit of ECO member-states.
- The rail cooperation document was signed between the three countries on the sidelines of the summit of ECO member-states
- The MoU stipulates that a joint working group be formed to oversee the growth of cargo passing through the transit route
Business
Saudi index falls significantly while UAE market diverges
Stock exchanges in the GCC region saw quite a few ups and downs this week.
- The Saudi index faced a significant fall this week, the first since October 2020, due to military struggles with Yemen
- With Al-Rajhi Bank missing 4.5 percent and Saudi Arabian National Bank dropping 3.7 percent, the Saudi index fell 2.7 percent on Monday
Business
GCC region at the heart of the future of esports: GMIS
Hosted by the Global Esports Federation (GEF), the event was part of the GMIS Week that runs from 22 to...
- Hosted by the Global Esports Federation (GEF), the event was part of the GMIS Week that runs from 22 to 27 November at Expo 2020’s Dubai Exhibition Centre
- Dr Khizer Kaderi, Member of the GEF Health & Wellness Commission, defined the metaverse as a confluence of physical and digital worlds
Business
Apple’s iPhone prices bite in Turkey despite Black Friday
Persistent double-digit inflation and the weakness of the Turkish currency has eroded the purchasing power of Turkish consumers, leading to...
- The lira has lost 38 percent in value against the dollar since the start of 2021, surpassing 13 to the dollar at one point earlier this week
- Certain Apple devices were 25 percent more expensive than usual on Friday -- with some increases worth more than the local minimum wage
Business
Masdar to build Armenia’s largest solar plant on DFBOO basis
Masdar, a renewable energy company and a subsidiary of Mubadala Investment Company, will build a 200-megawatt solar photovoltaic (PV) plant...
- The plant will span over 500 hectares and will create a large number of direct and indirect jobs.
- The project company will be 85 percent owned by Masdar and the rest by the Armenian National Interests Fund.
Business
UAE reviews measures to counter money laundering
Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, chaired a meeting of the Higher Committee...
- The UAE has been working closely with the Financial Action Task Force (FATF) to ensure the UAE’s legal, regulatory and operational standards meet global standards
- The Committee also reviewed progress made by the UAE in recent months, set out in the UAE’s latest progress update to FATF
Business
Dubai introduces ‘electronic notary public’ after amending the law
Dubai has introduced an automated system that performs the duties of the notary public without human interference and does away...
- The automated notary public has been introduced as part of Dubai’s smart government transformation.
- Companies providing notary public services are now required to inform Dubai Courts about licensed individual notaries public working in the company.
Business
Tips to consider before starting a new business
With the Covid-19 pandemic leading people to start their own businesses, a good beginning could make all the difference.
- While it is feasible to start a business with limited resources, there are always obstacles to overcome
- Over 65 percent of businesses fail within 10 years, and approximately 20 percent within two years
Business
Dubai and Abu Dhabi to vie for Gulf Capital’s offering
Gulf Capital, a UAE-based financial institution, has added Abu Dhabi and Dubai to the list of potential markets for the...
- Gulf Capital bets on growth in Asia to outperform US and European markets
- The UAE-based institution manages more than $2.5 billion worth of assets
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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
Bitcoin crosses $50,000 for first time since 2021
The cryptocurrency has enjoyed a strong run-in recent month, fueled by expectations US lawmakers would allow the creation of exchange-traded...
Business
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Ryanair posts bumper profits
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IEA predicts record oil demand of 2.2m barrel a day in 2023
PARIS, FRANCE - The International Energy Agency said Friday it had revised upwards its forecast for global oil demand growth in...
Business
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Business
GFH Financial Group Q2 net profit $30m
The net profit increased by 32.74 percent compared to Q2, 2022.
- Total income for the second quarter of 2023 was $86.83 million compared to $56.11 million for the second quarter of 2022, a rise of 54.7 percent.
- Consolidated net profit for the second quarter was $32.75 million compared with $26.03 million in the second quarter of 2022, an increase of 25.8 percent.
Business
Luxury real estate boom in Ras Al Khaimah’s waterfront districts
Ras Al Khaimah, UAE - The existing and upcoming waterfront and island developments in Ras Al Khaimah have witnessed a...
- Apartments for sale in Al Hamra Village have recorded an increase of over 4% in average price-per-square-foot
- With an excellent ROI of 11.61%, the apartments for sale in Yasmin Village offered the best rental yields
Business
NPCC receives award for MERAM project
The award has been received from ADCNOC Gas.
- The project is valued at AED 13 billion and is being led by the National Petroleum Construction Company (NPCC) in partnership with Técnicas Reunidas.
- MERAM project is expected to increase the recovery of methane from ADNOC Gas's facilities.