Special economic zones are a new craze in Middle East
Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business...
Business
MENA startup investment surges in March 2023
Saudi startups were the biggest beneficiaries of LEAP24 tech conference, securing the lion's share of the total investment of S254...
Business
Economy
Saudi Arabia scouts Europe for business tie-ups in healthcare, mining sectors
Riyadh, Saudi Arabia-- Saudi Arabia is aiming to establish a slew of business partnerships in healthcare and mining sectors with...
- In their meetings with CEOs of British companies, the Saudi officials discussed strategic healthcare partnerships, digital transformation and biotechnology
- In Germany, the Saudi delegation met with investors and representatives of major companies to explore investment opportunities in the industrial and mining sectors
Economy
RAKEZ entices Indian investors with ‘lucrative’ business prospects
Ras Al Khaimah, UAE-- Looking to boost economic cooperation and convince businesses across India to invest in the free zone,...
- RAKEZ's team met with many business chambers, industry associations, such as the Bombay Industries Association, Federation of Indian Export Organization
- Its CEO Ramy Jallad noted with satisfaction the overwhelming response from businesses and startup founders, which showed their high level of interest in Middle East
Business
Dubai records US$3.4bn in weekly real estate transactions
DUBAI, UAE - A total of 3,625 real estate and properties transactions valued at US$3.4 billion (AED12.5 billion) were conducted...
- The DLD report showed that 189 plots were sold for US$620 million.
- The report showed 2,753 apartments and villas were sold for US$1.9 billion.
Business
Mubadala invests $200m in Bicycle Capital
Bicycle Capital is a growth equity firm focusing on startups.
- Bicycle Capital has received $440 million commitments so far.
- Mubadala's $284 billion portfolio is spread across the globe.
Business
Dubai International Chamber opens Europe’s first representative office in UK
DUBAI, UAE - Dubai International Chamber (DIC), one of the three chambers operating under Dubai Chambers, inaugurated on Friday a...
- The new office will focus its efforts on strengthening relationships with key public and private sector stakeholders.
- The office will support UK firms seeking to relocate to expand in Dubai and grow their business through the emirate.
Business
Saudi Arabia’s SVC invests $30m in Bedaya Fund II
RIYADH, SAUDI ARABIA - Saudi Venture Capital (SVC) announced its investment of US$30 million in Bedaya Fund II, which is...
- SVC is a government investment company and is a subsidiary of the SME Bank, one of the development banks affiliated to the National Development Fund.
- SVC aims to stimulate and sustain financing for startups and SMEs from pre-Seed to pre-IPO by investing $1.6 billion in funds and co-financing in startups.
Business
Finding private sector jobs difficult for 62% percent Emirati graduates
Despite this pessimistic view, however, 61 percent of the surveyed graduates expressed interest in joining the private sector, said PwC's...
- Despite this pessimistic view, however, 61 percent of the surveyed graduates expressed interest in joining the private sector, said PwC's Emiratization Survey 2023.
- The survey sheds light on the efforts made by the UAE to enhance Emirati participation in the private-sector workforce, in line with the country’s national vision mandate.
Gas, infra deals inked as Qatar emir holds Baghdad talks with Iraq PM
Sheikh Tamim bin Hamad Al-Thani was welcomed by Prime Minister Mohamed Shia al-Sudani at the airport, images broadcast on Iraqi...
- The two sides signed agreements on oil and gas supply to Iraq, the establishment of a joint oil company and the construction of a refinery
- Iraq's National Investment Authority also signed agreements with the Qatari firms working in the property and construction sectors
Sudan war death toll surges past 2,000 as fighting enters third month
Since April 15, the regular army headed by Abdel Fattah al-Burhan has been locked in fighting with paramilitary Rapid Support...
- In long-troubled West Darfur state, the violence killed Governor Khamis Abdullah Abakar, hours after he made remarks critical of the paramilitaries in a telephone interview
- Miller said up to 1,100 civilians have been killed in West Darfur's capital, El Geneina, alone, while the @UN is reporting more than 273,000 have been displaced from the region
Xi Jinping meets with ‘old friend’ Bill Gates in Beijing
Gates -- one of the world's richest men -- is the latest in a string of Western business leaders to...
- The visit is Gates' first to China in four years, and included a rare sit-down between the Chinese head of state and a foreign business leader
- A state media readout also quoted Gates as praising China's efforts in "tackling the Covid-19 pandemic, setting a good example for the world"
Special economic zones are a new craze in Middle East
Vast swathes of land across the desert region are seeing the sprouting of new special zones to entice big business...
Business
Company News
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Japan quake death toll jumps to 161, 103 missing
According to authorities in the central Ishikawa region hit by the 7.5-magnitude quake, the number of people unaccounted for fell...
Economy
Utilizing AI is only possible if skill gap is bridged, says expert
DUBAI, UAE - The Artificial Intelligence (AI) revolution is upon us, with AI becoming a pervasive force in our daily...
Business
UK announces Europe’s first high-tech uranium fuel plant
HALEU fuel is needed to power many of the next generation of advanced nuclear reactors, including so-called small modular versions...
Geostrategy
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Economy
Qatar National Bank forecasts world economic growth to be 2.9% in 2024
Doha, Qatar--Qatar National Bank (QNB) expects the global economic growth to be around 2.9 percent in 2024, roughly the same...
- QNB said that its view is more bullish than others as the bank believes the global economy to expand by 2.9 percent roughly the same rate as last year
- It believes the US economy would slow down as the US fiscal thrust is set to decelerate from a positive 1.9 percent in 2023 to a negative 1.4 percent in 2024
Global maritime trade sails into geopolitical storm
Most large international shipping companies have decided to reroute trading to avoid the Red Sea and Suez Canal through which...
- Maersk said Friday that it would divert all vessels around Africa instead of using the Red Sea for the "foreseeable future" after Yemeni rebels attacked its merchant ships
- Vessels are circumnavigating Africa via the Cape of Good Hope, which extends the journey between Asia and Europe by 10 to 20 days on average, said general manager of Ovrsea
Economy
‘Dubai reinforces global leadership in healthcare’
“Biomedical and health informatics professionals attending MedInfo 2027 will enjoy a world-class event in a thriving global city within close...
- Dubai successfully bids for World Congress of Medical Informatics (MedInfo) 2027.
- The emirate becomes first city in the MENA region to host this prestigious event.