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
‘Saudi Arabia leads its regional peers in construction growth’
The burgeoning construction sector in Saudi Arabia is fostering the expansion of its talent pool and consolidating its regional leadership,...
Economy
Economy
Lebanon: small, multi-religious Mideast country
Lebanon is going through a severe economic crisis, described by the World Bank as one of the world's worst since...
- Lebanon is going through a severe economic crisis, described by the World Bank as one of the world's worst since the 1850s
- Lebanon's population of around 4.5 million is dwarfed by its diaspora, spread across the Americas, Europe, Africa and Australia
Business
ADQ to fund investments worth more than $4 billion in Greece
ADQ will work with the Hellenic Development Bank (HDB), the national development bank of Greece, and Hellenic Development Bank of...
- In 2021, the value of non-oil foreign trade between the UAE and Greece reached nearly AED 2.1 billion.
- The growth of trade, when compared to 2020, was 67 percent, reflecting a significant spike in growth.
Business
Nintendo profits rise as demand booms
The rise is also attributed to the popularity of the Switch.
- The company, which has benefited from a string of popular titles including "Pokemon Legends: Arceus", posted a 2021-22 net profit of 477.7 billion yen.
- Uncertainties linked to the global chip shortage and potential production and transport delays caused by Covid-19 lockdowns could hit future profits.
Economy
Food delivery drivers launch rare strike in UAE, demand pay rise
Food delivery drivers in the UAE went on strike Tuesday to demand better pay, the second such incident this month...
- Many workers for Talabat, part of Germany's Delivery Hero, did not show up for their shifts, calling for a pay increase amid the global rise in fuel prices.
- The latest protest comes after drivers for Deliveroo, another popular food delivery app, went on strike earlier this month after company plans to cut their pay.
Economy
Clean sources transformed UAE energy sector in a decade: ENEC chief
The UAE has proactively invested in proven clean energy and within a decade, solar and peaceful nuclear energy have delivered...
- Barakah Nuclear Plant is now generating 2.8 Gigawatts of electricity, making it the largest source of clean electricity in the country.
- With all four reactors online, nuclear energy will meet 25 percent of the UAE’s electricity demand.
Geostrategy
Red Cross chief Mardini on Iran visit talks Afghans’ plight
More than one million Afghans have sought refuge in Iran since the Taliban returned to power in August, according to...
- More than one million Afghans have sought refuge in Iran since the Taliban returned to power in August, according to Iran's state news agency IRNA
- Thousands of Afghans daily try to cross into neighboring Iran in search of work, or in a bid to reach Europe in the hope of asylum
Geostrategy
France says EU deal on Russia oil embargo possible this week
The embargo on Russian oil, which is part of a sixth package of EU sanctions under discussion, is being resisted...
- New discussions on the Russian oil embargo are expected to be held between European leaders by telephone on Tuesday
- It will involve French President Emmanuel Macron, EU Commission President Ursula von der Leyen, and Hungary's Prime Minister Viktor Orban
Geostrategy
Russia shells Ukraine’s Odessa as US pledges fresh arms for Kyiv
Russian President Vladimir Putin has said the West and Ukraine are responsible for the ongoing war, telling his country's Victory...
- A Russian airstrike in Odessa killed one and destroyed buildings and a shopping center, hours after the European Council president visited the war-torn country
- The US resurrected a World War II measure to aid Kyiv, opening the spigots on artillery, anti-aircraft missiles, anti-tank weapons, and another powerful Western materials
Analysis
‘Workplaces must prioritize mental health’
In many industries, working from home is the way of the future and a better working and mental lifestyle, Quartz...
- People tense or stressed at work are more than three times likely to plan to look for a new job
- In contrast, employees who feel supported are more likely to stay, lowering turnover costs
Geostrategy
UN says ‘imminent’ Yemen oil spill would cost $20 bn to clean up
The United Nations warned Monday that it would cost $20 billion to clean up an oil spill in the event...
- The 45-year-old FSO Safer, long used as a floating oil storage platform with 1.1m barrels of crude on board, has been moored off the rebel-held Yemeni port of Hodeida since 2015
- The UN official had earlier announced on Twitter that the Netherlands would host on Wednesday a pledging conference for the international body's plan to avert the crisis
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
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Second quarter GDP growth in US 2.1%, weaker than earlier estimates
Washington, United States - Economic growth in the United States was weaker than first estimated for the April to June period,...
Economy
UAE first half non-oil foreign trade hits all-time high of $337 billion
The results are buoyed by record non-oil exports, which reached AED 205 billion in H1 2023, an 11.9 percent growth...
Business
Equities extend gains on US jobs data, China rate cut hopes
The mood was brightened by a report that China's biggest state-backed banks would slash rates on mortgages and deposits as...
Business
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Business
Oil companies pay Insta, TikTok influencers for ads
Online celebrities best known for posting about video games are also dropping in unexpected plugs for gasoline stations, fuel rewards...
- Analysts say companies are targeting young people on social media to shore up their oil and gas-based business even as countries seek cleaner alternatives to limit global warming
- One gamer, who has 178,000 followers for her @chica account on Instagram, drew sighs of dismay with a recent post showcasing a new Shell-sponsored feature in video game Fortnite
Economy
Riyadh to host Expo Expo, held for first time outside of US
Riyadh, Saudi Arabia - Riyadh is set to host the exhibition and conference industry show Expo Expo MENA on September...
- Expo Expo MENA will feature over 100 exhibitors specializing in the field of presentations and conferences from various countries around the world
- With its first Middle Eastern edition, the event offers the opportunity for international decision-makers in the industry to convene in Riyadh
Economy
Exclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economy
In the GCC, online market growth surpasses offline, driven significantly by Saudi Arabia, amid intense competition where local brands increasingly...
- In the MENA region, customers are enticed by augmented reality games with tangible rewards, as the digital economy rises and brands innovate to meet growing expectations
- In an intensifying market, customers' multi-channel interactions offer brands crucial CX strategy insights, reflecting the escalating expectations they have from merchants