Vision 2030 empowers women in Saudi legal sector
"The progressive momentum generated in the past decade fills us with positivity and reassurance in the Kingdom, where we have...
Opinion
Iran and Russia to sign new contracts to develop oil, gas fields
Tehran, Iran-- Iran and Russia have agreed to sign new contracts on developing oil and gas fields, according to the...
Economy
Business
Apple loses bid to stall apps bypassing pay system in Epic Games case
A judge rejected Apple's request to delay letting App Store offerings bypass its payment system as ordered by the court...
- Epic filed the lawsuit to break Apple's grip on the App Store, accusing the iPhone maker of operating a monopoly in its shop for digital goods or services.
- The judge reasoned that Apple's policies not allowing app developers to steer users to payment platforms outside the App Store as being a factor in the "antitrust conduct."
Business
Elon Musk loses $50 billion as Tesla shares fall for third day
Elon Musk, the CEO of Tesla lost $50 billion in two days as shares of Tesla fell for the third...
- According to Bloomberg Billionaires Index, this is the biggest two-day fall in its history.
- his drop in net worth of Elon Musk reduces the gap between him and Jeff Bezos, the second richest man of the world to $83 billion.
Business
EDB, NBF agree to provide credit guarantee and co-lending for SMEs in UAE
The Emirates Development Bank (EDB) has signed an MoU with the National Bank of Fujairah (NBF) to offer credit guarantees...
- NBF will offer up to AED10 million financing to an SME, and 50 percent of the facility amount will be either guaranteed or co-lent by EDB.
- The program also aims to support UAE citizens in the startup journey by offering financing facilities of up to AED1 million.
Economy
World economy watches as China activity slows down
The economy of China is weighed down by electricity shortages and a vast real-estate crisis.
- The difficulties of the real-estate sector in China were triggered by the troubles of giant Evergrande
- Those problems could pose risks for the world economy and affect the United States, the US Federal reserve has said
Economy
ADX proposes region’s first SPAC regulatory framework
The ADX and ADDED, in conjunction with legal and investment specialists, have worked together to produce the proposed SPAC regulations,...
- The regulatory framework proposed by ADX and ADDED will facilitate initial public offerings of SPACs, providing investors worldwide with access to unique growth opportunities
- The proposed regulations will also allow sponsors outside of the UAE to apply for approval to list their SPACs on the ADX
Business
AD Ports Group to develop multipurpose terminal at Egypt’s Safaga Port
A multipurpose terminal in Safaga Port of Egypt will be developed and operated by AD Ports Group. Under an MoU...
- AD Ports signed an MoU with the Egyptian Group for Multipurpose Terminals, the commercial arm of the Egyptian Ministry of Transportation.
- Under the pact, AD Ports Group will explore investment opportunities and conduct feasibility and local market studies related to the project.
Economy
Dubai non-oil economy surges to two-year high in October
Dubai's non-oil economy continued to grow in October, courtesy of a sharp rebound in new orders and increased tourism activity...
- A sharp rebound in orders and Expo boost raise Purchasing Manager's Index.
- Despite the growth of businesses, job hiring remained marginal. Overall expectations of firms at their highest since March 2020.
Economy
Saudi Arabia’s real GDP grows by 6.8 percent in Q3 on rising global oil demand
Saudi Arabia's GDP has risen by 6.8 percent in the third quarter of 2021 compared to Q3 2020, according to...
- The growth attributed to an increase in oil activities by 9 percent due to the rising global demand for crude oil.
- Non-oil activities increased by 6.2 percent and government activities increased by 2.7 percent year-on-year.
Economy
UAE economy has passed recovery phase, on to growth path: Minister
According to the central bank's second-quarter review, the UAE economy is expected to grow 2,1% this year due to pandemic-mitigation...
- According to the central bank's second-quarter review, the UAE economy is expected to grow 2,1% this year due to pandemic-mitigation measures
- In 2022, the economy is predicted to grow by 4.2 percent, higher than the previous forecast of 3.8 percent
Business
39% of Sub-Saharan Africa firms lack anti-bribery controls: survey
The report surveyed risk and compliance professionals and business leaders across 47 countries in SSA.
- The report surveyed risk and compliance professionals and business leaders across 47 countries in SSA
- More than 23 percent of the organisations have fallen victim to bribery and corruption over the past five years
Vision 2030 empowers women in Saudi legal sector
"The progressive momentum generated in the past decade fills us with positivity and reassurance in the Kingdom, where we have...
Opinion
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Beema’s Q1 profit soars
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ROSHN inks MoU with Expro to develop real estate in Saudi Arabia
Riyadh, Saudi Arabia--ROSHN, the Saudi real estate developer, has signed a memorandum of understanding (MoU) with the Expenditure and Project Efficiency...
Business
UK reform of Consumer Credit Act to benefit Islamic finance
London, Britain - The UK government has announced plans to reform the Consumer Credit Act (CCA) which is expected to...
Economy
Egypt to receive first batch of Iranian tourists in era of restored ties
Tehran, Iran-- After years of frosty relations between the two countries, Egypt and Iran are set to restore ties with...
Economy
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Economy
UAE signs air transport services agreement with Austria to boost trade
Vienna, Austria-- Looking to ramp up trade and business relations, the United Arab Emirates has signed an air transport services...
- UAE's ambassador to Austria said that the signing of the agreement will enhance relations, creating new opportunities for trade between the two countries
- The Austrian official said the agreement will benefit transport companies in both countries and support the tourism sector, apart from boosting trade
Economy
E-visas to drive tourism’s GDP share to 10%
Saudi Arabia is leveraging digital solutions to streamline travel, link tourists with local enterprises through apps, and enhance experiences via...
- The move has simplified and streamlined the processes for obtaining a tourist visa, making it easier for visitors to travel to the Kingdom
- Tourists can apply for the 90-day e-visa through an online portal which is an easy, accessible process with quick visa turnaround times
Business
Wall Street stocks up amid signs of broadening in equity market
New York, United States - Wall Street stocks mostly rose early Tuesday amid signs of greater broadening in the equity market...
- Energy and materials were two other sectors showing early gains, while technology was lower. Tech gains were at the heart of the stock market's buoyant first semester of 2023.
- Markets are looking ahead to Wednesday's consumer price index report, a critical data point for the upcoming US Federal Reserve decision.