Italy begins probe into OpenAI’s new video tool Sora
ROME, ITALY – The European country's data protection watchdog - Italian Data Protection Authority - said on Friday it has launched...
Geostrategy
Business
RAKEZ to partner with CBD for easy access to bank’s services
Ras Al Khaimah Economic Zone (RAKEZ) has entered into a strategic alliance with the Commercial Bank of Dubai (CBD) to...
- An MoU was signed by RAKEZ Group CEO Ramy Jallad and CBD CEO Dr. Bernd van Linder.
- The agreement makes it convenient for RAKEZ clients to business bank accounts.
Business
ADNOC announces big onshore oil and gas find in Abu Dhabi
ADNOC announced on Wednesday "significant conventional oil, condensate and gas discoveries" of up to 1 billion barrels of oil equivalent...
- Conventional oil, condensate and gas discoveries of up to 1 bn barrels reported from an exploration well in Abu Dhabi’s Onshore Block 4 Concession.
- The oil giant said the next step is to appraise and further quantify these resources as well as to explore the potential in and around Onshore Block 4.
Economy
UAE taps Harvard lab to help build its economy
The new partnership between Harvard university’s Growth lab and the UAE’s Ministry of Economy is in line with the government’s...
- The UAE signed agreement with Harvard’s Growth Lab, specialized in theoretical and empirical research on determinants of growth
- The two-year program under the agreement will see academic experts conduct evidence-based economic analyses and research
Business
Binance may move to Dubai as part of crypto deal
TRENDS broke this news in October. The agreement will regulate the offering, issuance, listing and trading of encrypted assets of...
- TRENDS broke this news in October. The agreement will regulate the offering, issuance, listing and trading of encrypted assets of the firm that is based in Seychelles.
- Dubai is competing with Singapore, Switzerland, and other countries to become a worldwide hub for digital currency by developing a crypto-currency free-trade zone
Business
Automechnika Dubai exhibits technological changes in auto sector
The 18th edition of the show, organised by Messe Frankfurt Middle East, has exhibitors from 47 countries and 12 national...
- The 18th edition of the show, organised by Messe Frankfurt Middle East, has exhibitors from 47 countries and 12 national pavilions
- Industry analysts forecast the GCC’s automotive parts retail revenue will grow at a compound annual growth rate of 5.8 percent to US$6.84 billion in 2025
Geostrategy
GCC Summit issues Riyadh Declaration
The region’s common economic, defense and security integration and unity and coordinating stances were reviewed at the 42nd GCC Summit.
- They Gulf leaders seek to enhance solidarity and stability among GCC member states
- The Supreme Council will hold its 43rd session under Oman’s presidency
Business
Abu Dhabi Islamic Bank provides $270m in UK real estate finance
Over the last three years, ADIB has catered to the growing demand for commercial property investments in London as well...
- The bank closed two deals in the UK in the month of November alone, taking its UK portfolio to around AED2.5 billion.
- ADIB also provided AED36 million to the Al Rajhi Legacy Fund on their acquisition of Olympus House in England.
Business
Oman’s economic city Khazaen signs two pacts to carry out vital projects
Khazaen, Oman's fully integrated economic city, has signed two agreements worth more than Omani Riyal 1.5 million ($3.8 million) with...
- One of the agreements signed with an Omani company named Western Door Trading to set up a multipurpose logistics center.
- The second agreement provides for the setting up of a processing unit and a warehouse with a capacity 20 tons a day.
Business
12 Ajman banks sign pact with Department of Finance for easy payment plan
The Ajman’s Department of Finance has signed agreements with 12 local banks to offer an "easy payment plan", which allows...
- The plan allows payments for government service fees through installments through Ajman Pay platform.
- Conditions and steps to apply for easy payment plan are defined by the participating banks.
Geostrategy
Cooperation, security remain focus of GCC summit
The GCC leaders discuss political issues and security challenges that require intensified efforts to enhance regional solidarity.
- The GCC leaders discuss political issues and security challenges that require intensified efforts to enhance regional solidarity
- The 42nd session of the Supreme Council of the GCC countries, chaired by Saudi Arabia, seeks to strengthen the process of cooperation
Company News
Latest News
Expo Center Sharjah to host 63% more events in last quarter
Sharjah, UAE - Expo Centre Sharjah said it will host 63 percent more events in the last quarter of 2023,...
Business
Iran inaugurates final phase of country’s largest gas field
The South Pars gas field is one of the world's largest natural gas condensate fields. Iran shares the gas field...
Business
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Business
SAMI launches radio systems line
PIF-owned SAMI will be partnering with the Ministry of Defense.
- SAMI CEO Waleed Abdulmajeed Abu Khalid underlined the partnership in strengthening relationships with L3Harris, the world's leading defense company.
- In June, SAMI signed an agreement with Safran Helicopter Engines for engine maintenance and repair.
Business
Kuwait Airport expects 13% rise in passenger numbers, says DGCA
KUWAIT CITY, KUWAIT - Kuwait's Director General of Civil Aviation (DGCA) expected that the total passenger traffic to and from...
- The total passenger traffic from Kuwait International Airport in the present summer season is expected to reach 5.75 million passengers.
- Kuwait Airport expects to operate 45,000 flights this season, an increase of 15 percent compared to last year.
Geostrategy
Boon or blight? E-scooters around the world
The for-hire electric scooters that have become ubiquitous in Paris and other cities worldwide will be banned in the French...
- Barcelona outlawed rental scooters on public roads in 2018. Two years later Montreal outlawed all electric scooters, rental and private.
- In London, only rental e-scooters with specific safety features are allowed in the capital. Privately owned devices are illegal.