Carney’s UAE mission: A new era for Canada’s global trade ambitions
The latest visit of the Canadian PM is a part of his efforts to find new markets for his nation’s...
Geostrategy
OpenAI unveils ChatGPT app integration feature
San Francisco, United States - OpenAI on Monday unveiled a new feature for ChatGPT, the leading generative AI model with...
Business
Business
Middle East, major buyer of Basmati rice, could be hit by India’s rice ban
Mumbai, India: The world's biggest rice exporter India has banned some overseas sales of the grain "with immediate effect", the...
- Middle Eastern countries are one of the major importers of India’s basmati rice - a variety of long, slender-grained aromatic rice
- Earlier this year, Iran, Saudi Arabia and Iran accounted for 50 percent of total shipments of India’s export of this variety
ADCB logs 23% Q2 net profit
The company's interest income reaches $797m.
- The bank’s interest income reached $797 million marking a 14 percent YoY increase
- The cost to income ratio improved by 450 basis points YoY to 32.0 percent
Business
Sharjah nurturing publishing sector for five decades
“Sharjah has hosted the world’s largest book fair in terms of buying and selling of copyrights, developed pioneering business solutions...
- Sharjah Book Authority's contributions remain crucial in achieving cultural goals, says SBA Chairperson Sheikha Bodour Al Qasimi
- Sheikha Bodour emphasizes the vision and need to build Sharjah as a global beacon of knowledge, creativity, and innovation
Economy
Consumer Price Index in Qatar decreases by 0.10% in June
Doha, Qatar - The Consumer Price Index (CPI) in Qatar reached 105.71 points, showing a decrease of 0.10 percent when...
- In June 2023, the CPI experienced some notable changes when compared to May 2023
- An increase of 2.49 percent was recorded in the CPI of June 2023 when compared to that of June 2022
Business
Demand for Shariah-compliant financing in UAE grows 4.9% in 2022
Abu Dhabi, UAE - UAE Islamic banking sector assets witnessed steady growth in 2022, accounting for 23.0 percent of the...
- The UAE Islamic banking sector assets expanded 8.3 percent to $230.2 billion in 2022
- The UAE banking system comprises eight Islamic banks and 17 Islamic windows by conventional banks
Geostrategy
Finance minister quits in latest Kuwait political turmoil
Kuwait City, Kuwait - The finance minister of Kuwait, one of the world's biggest oil producers, has resigned only three months...
- Al-Hajeri was appointed as finance minister and state minister for economic and investment affairs in April
- He will be replaced by Saad Al-Barrak, who was named both oil minister and state minister for economic and investment affairs last month
Business
Arabs play huge role as Threads challenges Twitter’s dominance in social media space with rapid growth
The new app developed by Meta has attracted more than 100 million users just five days after its debut, indicating...
- The new app developed by Meta has attracted more than 100 million users just five days after its debut, indicating its potential to compete with Twitter
- However, the number of new sign-ups does not necessarily indicate active use or a complete shift from Twitter as Threads is still under development
Economy
UK to unveil new measures to support financial sector
Hunt, whose official title is chancellor of the exchequer, will lay out plans for an "entirely new kind of stock...
- Hunt will set out "how Britain's financial services will support the drive for long-term sustainable growth across the country", the UK Treasury said
- The new measures will in particular seek to make the UK stock market more attractive to firms looking to take their businesses public
Business
Gift purchases for MENA men to increase by 25% in 2023: study
Dubai, UAE - There will be a 25 percent increase in gift purchases for men in 2023 in the MENA...
- The rise in sales has been attributed to several factors such as the long-standing tradition of gift-giving as part of the celebrations, thereby driving the demand for gifts
- The introduction of new product categories specifically tailored to male recipients, including confectionery, live plants, perfume, and coffee also played a role
Business
Greater data access and control for users as EU modifies digital policy
"Once the data act enters into force, it will unlock the economic and societal potential of data and technologies and...
- Negotiators from the European Council, which represents the 27 member states, and the European Parliament struck a deal late on Tuesday on the data act.
- The new rules also include safeguards against unlawful data transfer by cloud service providers and make it easier to switch providers of data processing services.
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
Carney’s UAE mission: A new era for Canada’s global trade ambitions
The latest visit of the Canadian PM is a part of his efforts to find new markets for his nation’s...
Geostrategy
Company News
EGA buys 80% stake in Spectro
Business
Latest News
Global economy faces ‘low normal’ growth, widening inequality gap
The organization’s Trade and Development Report 2024 warned that this new “low normal" growth is insufficient to tackle pressing development and...
Economy
Rethink needed to make sustainable tourism work
"Growth at all costs no longer an option," says world-renowned tourism policy, planning and development expert Dr Marina Novelli in...
Geostrategy
UAE records 37% increase in greenfield FDI to $16 billion in 2023
Abu Dhabi, UAE -- The UAE has witnessed a 37% increase in greenfield investments in 2023 to reach US$16 billion,...
Business
Most Read
Arts & Culture
Saudis part ways with coach Mancini after a run of poor results
Riyadh, Saudi Arabia -- Saudi Arabia's football body said it was ending the contract of national coach Roberto Mancini after 14...
- The Saudi Football Federation has reached a mutual agreement to terminate the contract of Mancini, 59, who signed a lucrative deal until 2027 in August last year.
- Building a strong national team is a priority for the oil-rich Saudis who splashed more than a billion dollars on players last year and are the sole bidders for the 2034 World Cup.
Geostrategy
Israel to send negotiators to new Gaza truce talks in Qatar
The head of Israel's Mossad spy agency, David Barnea, will head to Qatari capital Doha on Sunday, the Israeli prime...
- US Secretary of State Antony Blinken said that mediators would explore new options after the failure of previous efforts to seal a ceasefire and hostage release deal.
- The US and Qatar were seeking a plan "so that Israel can withdraw, so that Hamas cannot reconstitute, and so that the Palestinian people can rebuild their lives.
Interview
Bridging skills gap: UAE, Singapore lead the way
The two countries have adopted a people-centric and collaborative upskilling approach, says Till Leopold, Interim Head of Knowledge Communities at...
- In the UAE, impressive progress has been made in defining key skills and raising national awareness on human capital development.
- Leopold highlights AI-driven energy demand as a key sector for transformation, with significant job creation in sustainable energy.