UAE residents anticipate full electric and hybrid vehicle takeover in coming years: survey
Dubai, UAE - About 63% of respondents in the UAE plan to make EVs their primary mode of transport by...
Business
Business
Abdullah Al Othaim Markets CEO quits
Mohsen Saqer Hussain will serve as an advisor to the Board.
- The Board said Muwaffaq Mansour Jamal will be the delegated CEO of the company from 17 Dec.
- Hussain quit due to family circumstances that require his presence outside the kingdom.
Business
Tadawul looks to raise $1bn from its IPO
Tadawul is looking to raise up to $1 billion from its initial public offering (IPO), after setting the price range...
- Tadawul appointed SNB Capital as the lead manager, financial advisor, book-runner, Global Coordinator and underwriter for the initial public offering
- while J.P. Morgan Saudi Arabia, and Citigroup Saudi Arabia were appointed as financial advisors on the offering of 36 million shares of Saudi Tadawul Group Holding Co
Geostrategy
Doha sees roadworks, traffic jams in Qatar World Cup run-up
Development of drainage stations, water treatment plants, pumping, and rainwater drainage networks in several parts of Doha.
- Qatar expects 1.5 million visitors for the World Cup
- Flooded roads due to rain is a problem which confronts people in Doha
Interview
Qatar World Cup ‘unfairly treated’ on rights
There had been 'extraordinary' progress, including the introduction of a minimum wage and improvements to working conditions and accommodation, says...
- There has been 'extraordinary' progress, including the introduction of a minimum wage and improvements to working conditions and accommodation, says Khater
- Qatar will hold the first World Cup in the Middle East a year from now, in eight stadiums in and around the capital Doha
Business
Hamilton hits ‘sweet’ spot to claim inaugural Qatar GP pole
Lewis Hamilton maintained the momentum from last week's stunning win in Brazil to claim pole for the inaugural Qatar Grand...
- Max Verstappen, who leads his Mercedes rival by 14 points with three races to go, will start alongside Hamilton on the front row on Sunday
- Hamilton's teammate Valtteri Bottas posted the third quickest time under floodlights at the Losail circuit to fill the second row with Pierre Gasly for Alpha Tauri
Business
UAE shares its proposals with IMO for strategic reforms
The United Arab Emirates has given three proposals to the International Maritime Organization (IMO), supporting the reforms undertaken by IMO...
- The reforms were introduced during the meetings of the IMO Council, where the UAE has a Category (B) membership
- Through this move, the country hopes to keep pace with global changes and technological developments
Business
Emirates Post and ENOC team up to boost delivery services
Emirates Post and ENOC Group have partnered to improve delivery services in logistics and e-commerce field in the UAE.
- Both Emirates Post customers and business partners can benefit from this new partnership
- The agreement offers a flexible way for customers to pick-up or drop-off their courier packages by choosing the ZOOM store that is accessible and convenient to them
Business
India’s Reliance ditches $15bn Saudi Aramco deal
India's Reliance oil-to-telecoms giant is abandoning a $15 billion deal for Saudi Aramco to buy a 20 percent stake in...
- The deal was announced more than two years ago by Reliance and touted as the biggest foreign investment in the company's history
- Aramco is the world's biggest oil-producing company and vies with Apple for the title of the most valuable firm on the planet
Business
HAYVN, a digital currency firm, closes Series A funding
HAYVN, the Abu Dhabi-based digital currency platform, has closed Series A funding round led by Red Acre Ventures and Hilbert...
- As part of the transaction, Red Acre Ventures has joined the HAYVN Board of Directors
- The UAE is poised to be a global hub for the emerging asset class that is digital currency
Business
Qatar and PSG, a lasting bond beyond the 2022 World Cup
Qatar's investment in French giants Paris Saint-Germain, and its use of the club as a central tool for the gas-rich...
- "Close to 15 years ago Qatar did not exist in public opinion," says Lavergne. "Paris Saint-Germain is central to this policy. With the club they reach the whole world
- The ties between Qatar and France stretch well beyond the realms of this sporting connection
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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 residents anticipate full electric and hybrid vehicle takeover in coming years: survey
Dubai, UAE - About 63% of respondents in the UAE plan to make EVs their primary mode of transport by...
Business
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Black Cobra signs MoU with NFFSP to make military footwear in MENA region
Abu Dhabi, UAE--Black Cobra Military Supplies (BCMS) and the National Factory for Safety and Security Products (NFFSP) have signed a...
Business
Saudi Arabia organizes trade mission to Japan to drive non-oil exports
Riyadh, Saudi Arabia--The Saudi Export Development Authority organized a trade mission to Japan under the theme of "Saudi Made" in...
Business
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Business
Aramex profit plunges 53%
Its net profit for H1 of 2023 stood at US$11.70 million.
- The company's revenue was $762 million in the first half of 2023, a five percent decline year-on-year
- International Express business reported $101 million in gross profit for H1 2023, a YoY increase of 1%.
Business
Exclusive: Private military companies look at $366.8bn market as their demand, role in global conflicts rise
Rising security concerns, confrontational geopolitics, and chaotic global changes have fueled the demand for private military companies, the new reality...
- Rising security concerns, confrontational geopolitics, and chaotic global changes have fueled the demand for private military companies, the new reality of modern warfare
- Experts stress the urgent need for regulation and careful consideration of the risks and benefits associated with PMCs in an increasingly complex and conflict-prone world
Business
Exclusive: Private military companies look at $366.8bn market as their demand, role in global conflicts rise
Rising security concerns, confrontational geopolitics, and chaotic global changes have fueled the demand for private military companies, the new reality...
- Rising security concerns, confrontational geopolitics, and chaotic global changes have fueled the demand for private military companies, the new reality of modern warfare
- Experts stress the urgent need for regulation and careful consideration of the risks and benefits associated with PMCs in an increasingly complex and conflict-prone world