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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Middle East children are at grave risk in cyberworld

Across the region, parents struggle to shield children from unsavory elements prowling the cyber world, as risks grow with the...

Saudi gang gets 20 years in prison for laundering $4.5bn

A Saudi court sentenced twenty four Saudis and foreigners to up to 20 years in prison for laundering nearly $4.50...
  • Group of 24 Saudis and expats channelled illicit funds through factories, companies, institutions and medical clinics
  • The court said the group carried out their criminal operations within an organized framework, under the cover of commercial facilities

Five cities poised to become GCC tech hubs

As part of economic transformation, some Gulf countries seek to achieve targets in digital transformation via long-term plans such as...
  • The UAE has become a technological leader in hosting the world's largest event, Expo 2020 Dubai.
  • In February 2021, 24 global firms had signed agreements to open regional offices in Riyadh.

Police rescues Egyptian boy from kidnappers

The Egyptian boy snatched from his mother by two masked men while buying grocery has been reunited with parents, after...
  • Video footage captured the terrifying moment two men snatched an eight-year-old boy from his mother’s side on an Egyptian street and bundled into a car
  • his desperate mother falling to the floor as she tried to stop her son’s captors from escaping

16,000 held in five days for violating Saudi laws

In a wide crackdown against offenders violating various laws of the kingdom, Saudi Arabia has arrested 16,000 people for contravening...
  • The authorities transferred 58,317 offenders to their respective diplomatic missions to obtain travel documents
  • The Ministry of Interior said that whoever facilitates the entry of violators to the Kingdom, transports them or provides shelter or any other form of support will face imprisonmen

Drugs seized at Dammam airport

Alert officials of the Zakat, Tax and Customs Authority at King Fahd International Airport in Dammam have seized more than...
  • The authority said that smugglers are “seeking to exploit everything” to smuggle drugs into Saudi Arabia
  • The authority said that smugglers are “seeking to exploit everything” to smuggle drugs into the Kingdom

GCC seeks to tap green hydrogen demand

The GCC countries see hydrogen as a key factor in fuel transition and have drawn up plans to export green...
  • UAE first in GCC to reduce emissions by 24 percent by 2030 and to 50 percent by 2050
  • GCC countries have plenty of space, sunshine wind energy in some areas

Saudi customs seize drugs at port

Alert officials of Saudi customs prevented an attempt to bring in contraband drugs into the kingdom at Jeddah Islamic Port,...
  • The floor of the truck had been hollowed out to hide the pills in
  • Two people who were due to receive the drugs were arrested

Saudi British Bank posts $245m net profit in Q2, year after big losses

A year after posting billions in losses, Saudi British Bank (SABB), an affiliate of HSBC Holdings, has posted a sizeable...

Arab economies to grow by 2.9% in 2021, 3.6% in 2022: Report

Uneven recovery is expected as eleven Arab countries will likely recover by the end of 2022, while the recovery path...

‘Potential hijack’ of ship off UAE coast: UK maritime security agency

The MarineTraffic website, which categorises the vessel as an asphalt and bitumen tanker, said it was travelling to Sohar, a...

Tech tycoon Lynch and Morgan Stanley chairman missing after yacht sinks in Sicily

The 56-meter British-flagged sailing yacht "Bayesian" was anchored with 10 crew and 12 passengers on board when it was struck...

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Cyberthreats put critical infra at risk in Middle East

Top cyber security experts speak to TRENDS about primary threats to critical infrastructure providers and how to build effective defenses.

2016 EgyptAir disaster started by cigarette in cockpit: report

An EgyptAir crash in 2016 that killed 66 people in the Mediterranean was likely caused by a fire that started...

Solar switch may put off electricity crisis in Lebanon

Lebanon's energy industry sees a loss of up to $2bn every year as state treasury pays over $50bn in advances...

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REVEALED: Billions of dollars missing from BDL

About US$7 billion is missing from Lebanese central bank’s 2020 balance sheet, data analysis by TRENDS suggests while highlighting weak...
  • Some of the data sifted by TRENDS point to a US$7 billion scam involving the country’s central bank and the powerful individuals
  • The poor and weak policies of Banque du Liban (BDL) may have facilitated a “Ponzi” scheme involving Eurobonds

Iran intensifies cyber espionage in Middle East

Cyberattacks by Iranian spies have become more sophisticated and have intensified against Arab countries, say industry experts.
  • Iranian espionage targeted aerospace and telecommunications companies in the Middle East, the US, Russia, and Europe
  • Cybereason identified 10 companies impacted during their three-month investigation

UAE prosecutors launch probe into Union Properties

The UAE prosecutors have begun an investigation into Union Properties, the Dubai-based real estate developer, after allegations arose of the...
  • The prosecutors will also investigate accusations that the firm hid the name of the beneficiary of the sale
  • The firm, Union Properties, known for building Dubai Motor City, has not reacted to the start of the investigation