Creators HQ, X announce strategic partnership to produce authentic, meaningful content
Dubai, UAE - Creators HQ in the UAE, the world’s first international hub for the content economy’s creators and entrepreneurs,...
Business
Dubai vs Doha: The Battle for Creator Economy Supremacy and Innovation in the Middle East
Dubai’s aggressive initiatives like the 1 Billion Followers Summit and specialized creator visas put it ahead in attracting global talent,...
Business
Business
ArcelorMittal Q3 profit at $993m
Firm is suffering from slowdown in China's economic growth.
- The steelmaker said it had reduced European gas consumption by 30 percent amid soaring costs.
- ArcelorMittal said in September that it would shut down two of its blast furnaces in Europe over high energy prices and lower demand.
Business
Mazda pulls out of Russia JV
Firm to transfer it equity interest to JV partner Sollers.
- Mazda stopped shipping parts to Russia in March and ended operations the following month.
- The company said it signed an agreement last month to transfer all of its equity interest in the Russian business to its joint venture partner Sollers.
Business
Private school operator Taaleem offers 25 percent stake in IPO
Taleem set the price range at AED2.95 ($0.80) and AED3 per share, implying a market capitalization at time of listing...
- Â The final offer price is expected to be announced on 18 Nov. 2022. Listing of the shares and trading on DFM is expected to begin 29 Nov. 2022.
- The company is seeking to raise total capital of $204 million from the IPO, whose net proceeds will be used to expand its premium K-12 segment, Taaleem said in a statement.
NEOM has a strict data and information security strategy: CEO
Eng. Al-Nasr called for developing new and innovative ways to confront escalation in cyber-attacks and address them quickly.
- Eng. Al-Nasr called for developing new and innovative ways to confront escalation in cyber-attacks and address them quickly
- He called for finding and providing technical security solutions that give access to the best possible safe environment for users of the futuristic city’s technologies
Business
Emirates H1 profit at US$1.1bn
Revenues in H1 of 2022-2023 surged 131% to $13.7 billion.
- Emirates has bounced back into the black after its losses during the pandemic, the airline said.
- The airlines operations recovery accelerated as more countries eased and removed travel restrictions.
Economy
S&P says GCC economies to get a boost from Qatar World Cup
Dubai, UAE— The economies of the Gulf Cooperation Council will likely receive a boost from the FIFA 2022 World Cup,...
- Dubai, according to the report, would benefit the most outside Qatar because of its proximity, tourism industry, airline connections and multiple-entry tourist visa provisions
- According to S&P rating estimates, Qatar's real gross domestic product growth in 2022 will be 4.8 percent, a sharp increase from 2021
Economy
China’s digital economy hits $6.3 trillion
The digital economy has become an important cornerstone of China's stable economic development, said the China Internet Development Report 2022.
- The digital economy has become a cornerstone of China's economic development, said the China Internet Development Report 2022 released during the WIC Wuzhen summit
- The summit also released the World Internet Development Report 2022 which revealed the digital economy in 47 countries reached 38.1 trillion U.S. dollars in 2021
Economy
Countries wrangle over future climate finance at COP27
Diplomats from developing nations criticised the persistent imbalance in climate financing which, within the UN framework, should be evenly split...
- In 2009, UN climate summit saw rich nations promise $100 billion a year by 2020 to Global South, but two years past that deadline the amount delivered is still $17 billion short
- As climate disasters have multiplied over the last decade, nations in the Global South have called for a separate financial facility for loss and damage
Economy
UAE president issues new law on regulation, development of industry
The law which will come into effect from January 2023 aims to increase UAE’s attractiveness as investment destination.
- The law which will come into effect from January 2023 aims to increase UAE’s attractiveness as investment destination
- It allows the creation of a package of incentives and enablers for the industrial sector that support national strategic objectives
Interview
Crises augment EU-GCC energy & security cooperation
Josep Borrell, the EU High Representative for Foreign Affairs and Security Policy, points out that since the Ukrainian crisis, an...
- The Ukrainian crisis has been a big push for the EU to understand the requirement of more renewables, especially the need to develop hydrogen, says EU official
- The European Union has a new strategy for more engagement and better partnership with the Gulf countries, the bloc's foreign policy chief Josep Borrell adds
Creators HQ, X announce strategic partnership to produce authentic, meaningful content
Dubai, UAE - Creators HQ in the UAE, the world’s first international hub for the content economy’s creators and entrepreneurs,...
Business
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stc buys stake in Telefónica
Business
IMF upgrades China growth forecast to 5.4 percent in 2023
Beijing, China - The International Monetary Fund on Tuesday raised its 2023 economic growth forecast for China, citing stronger consumption and...
Economy
IPOs in MENA raise US$5.8bn in first nine months of 2023
ABU DHABI, UAE - A recent report revealed that 29 initial public offerings (IPOs) were recorded in the Middle East...
Market Report
Record number of patent applications filed globally in 2022, says WIPO
GENEVA, SWITZERLAND - Global patenting activity soared to new records in 2022, fueled by Indian and Chinese innovators, but an...
Business
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Economy
China owed more than $1 trillion in Belt and Road debt: report
Crunching data compiled on Chinese financing of almost 21,000 projects across 165 countries, AidData said Beijing had now committed aid...
- Beijing says upwards of 150 countries stretching from Uruguay to Sri Lanka have signed up to the BRI, a global infrastructure push unveiled by President Xi Jinping a decade ago
- The first decade of the initiative saw China distribute huge loans to fund the construction of bridges, ports and highways in low and middle-income countries
Economy
Qatar leads by example in money laundering control
"Nations must take action to establish measures for detecting the physical cross-border movement of currency and negotiable instruments to combat...
- MENAFATF Executive Secretary Suliman bin Rashid Al Jabrin lauds Qatar's adherence to global anti-money laundering standards.
- Highlighting the FATF's goals to block terrorists' cross-border funding, Al Jabrin urges strong measures against currency smuggling.
Economy
Dubai approves $67bn budget to stimulate economic recovery
Dubai, UAE - Dubai government's general budget for the fiscal cycle of 2024-2026 includes total expenditures of $67.16 billion (AED...
- A total of 34% of total government expenditures of the 2024 budget goes to the social development sector in the areas of health, education, and scientific research
- Spending on infrastructure, including roads, tunnels, bridges, transportation, sewage stations, parks, and renewable energy sources accounts for 42% of total spending