IBM claims ‘real world’ edge in quantum computing race
San Francisco, United States -- Technology veteran IBM on Tuesday laid out a plan to have a "practical" quantum computer...
Science
Key MENA trends: M&A surge to five-year high, Saudi port activity rises in May
Qatar's foreign reserves rise 3.6 percent year-on-year despite a dip in bonds and treasury holdings, Iraq releases Australian and Egyptian...
Economy
Market Report
Stock markets give out mixed signals as traders await US debt ceiling vote
Stock markets wobbled as a deal to hike the US debt ceiling and avoid a painful default goes to a...
- Ultra-conservative Republicans feel House Speaker should have secured far deeper spending cuts in exchange for raising the debt ceiling.
- The left wing of the Democratic Party is equally unhappy that President Joe Biden agreed to any spending limits at all.
Business
UAE energy ministry announces Global EV Market transformational project
DUBAI, UAE - UAE Minister of Energy and Infrastructure Suhail bin Mohammed Al Mazrouei on Tuesday announced the launch of...
- Under the agreements, the partners will cooperate to create incentives for people to own EVs, facilitate investment in the UAE network of electric vehicles.
- The Global EV Market is in line with the objective of the We The UAE 2031 vision of enhancing the position of the Emirates as a global partner.
Business
Dubai events generated $3.53 bn economic output in 2022
Dubai, UAE - The total economic output generated by 63 large-scale events hosted at Dubai World Trade Centre (DWTC) reached...
- A substantial $2.01 billion (AED 7.4 billion) was retained within the local economy, showcasing the venue's strong contribution to Dubai's GDP
- The events organized at DWTC attracted nearly 1.2 million attendees, with 40 percent of them coming from international locations
Economy
UAE clarifies criteria for end-of-service benefits scheme Shourak
Abu Dhabi, UAE -- The UAE pension authority clarified Tuesday that requests related to Shourak scheme, which enables Emiratis to...
- Shourak (meaning preference in English) was launched by the GPSSA for insured Emiratis seeking to merge previous and current employment periods in case of a career switch.
- Shourak requests will be considered applicable for eligible insured Emiratis who submit their end-of-service employment applications to GPSSA after July 1.
Business
Dubai records 27 million taxi rides taken in first quarter of 2023
Dubai, UAE-- Some 27 million taxi rides were undertaken in Dubai in the first three months of 2023, up one...
- According to RTA, the high amount of taxi journeys in the first quarter of the year is the highest since 2019, before the outbreak of the Covid-19 pandemic
- The authority said the review of figures suggest that the economy of Dubai is thriving, cementing its standing as a prominent global hub for investment and tourism
Business
Dana Gas to hike its foreign ownership limit to 100 percent
Sharjah, UAE--With an aim to bolster the country's capital markets, the Sharjah-based company Dana Gas has revealed that it will...
- Listed on the Abu Dhabi Securities Exchange, the firm said that it had secured the approval of the regulatory authorities ro raise the percentage of ownership from 49% to 100%
- The company's chairman said the decision will bolster the UAE's vision of strengthening its dynamic capital markets by attracting greater numbers of international investors
Geostrategy
Sudan ceasefire extended as gunfire rages, aid trickles in
Many residents said they could hear gunfire after dark on Monday, shortly before the ceasefire extension was announced. Earlier, they...
- Shortly before the initial one-week ceasefire was to expire at 1945 GMT, Washington and Riyadh announced the extension
- In a "major breakthrough", the WFP said Monday that it had begun reaching thousands of Khartoum's trapped residents
Business
Meeza to offer 50% shares in IPO
The company will follow it up with a listing on QSE.
- Meeza, in a statement, said that it will offer 50 percent of the shares, 324.49 million, at an offer price of QR 2.17 per offer share
- Before the offering, it doled out 37.41% of the offer shares to a set of qualified investors according to the book building mechanism
After win, Erdogan faces tough task of uniting a polarized Turkey
Turkey's longest-serving leader surmounted a powerful opposition coalition, an economic crisis and anger following a devastating February earthquake to beat...
- Turkish president called on Turks to "come together in unity and solidarity", while Kilicdaroglu vowed to "continue the struggle" against the president and his AKP party
- Erdogan's inauguration ceremony, the nomination of a new cabinet and the sitting of the new parliament will follow the confirmation of the final election results this week
Economy
World needs tangible climate solutions: Al Mubarak
More than 1,000 private sector executives and members of the Dubai Chamber had joined the path towards reducing global emissions...
- Over 1,000 private sector executives and Dubai Chamber members commit to halving global emissions by 2030, aiming for zero emissions by 2050
- UAE continues to enhance its environmental prosperity, with an emphasis on protected areas, sustainable agriculture, and nature-based solutions
Most Read
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
IBM claims ‘real world’ edge in quantum computing race
San Francisco, United States -- Technology veteran IBM on Tuesday laid out a plan to have a "practical" quantum computer...
Science
Company News
Latest News
Construction in China-Saudi Arabia ethylene project begins
FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...
Business
Iran-EU trade surpasses US$5bn in 2023, says Eurostat
TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...
Business
Most Read
Geostrategy
Norway deal averts Palestinian financial collapse: govt
The portion of the revenues that Israel will transfer to Norway will remain in a Norwegian account until the parties...
- Under a 1994 agreement, the PA receives taxes that Israel collects on its behalf -- but Israel has withheld some of these since Hamas's attack
- The Palestinian Authority has refused to accept any transfers unless Israel changes its decision, an impasse that has lasted for several months
Interview
WEF24: Pragmatic actions to help in carbon neutrality
Technology investment and corporate partnerships can play a crucial role in driving significant emission reduction, Hans Kobler of Energy Impact...
- Technology investment and corporate partnerships can play a crucial role in driving significant emission reduction, Hans Kobler of Energy Impact Partners tells TRENDS.
- He stresses the need for concrete action, emphasizing the importance of pragmatic strategies and sustained investment to overcome the challenges of climate finance.
Geostrategy
Qatar minister urges Gaza ceasefire to end Red Sea insecurity
The Houthis, who control vast swathes of Yemen, have said the attacks, beginning in November, have targeted vessels linked to...
- Many companies have chosen to divert their vessels to avoid the Red Sea
- US and UK strikes on Houthi targets have failed to halt the rebel attacks