The Middle East fastest growing Real-Time Payments market globally
For the second consecutive year, the Middle East is the fastest-growing real-time payments market globally, according to the 2024 Prime...Economy
Asia markets mixed as investors assess China inflation data
Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reportedChina’s consumer price index climbed 0.3%...Economy
Yahsat to invest US$100m
It is for capital expenditure of T4-NGS satellite program.The program, the next-generation telecommunications system for Thuraya, is scheduled to begin operational service in H1 2025.
The total cost of the program is up to $550 million, including manufacturing, launch, insurance and new ground infrastructure.
Dubai Chambers launches program to enhance customer service
DUBAI, UAE – Dubai Chambers is taking a big initiative for ensuring that businesses in the emirate provide excellent customer...Service Excellence Program will evaluate the quality of customer experience through mystery shopper reports.
The initiative will ensure the implementation of global best practices within Dubai’s business community.
Multiply Group buys stake
A minority stake in Breakwater Energy cost it US$100m.The group by virtue of its new acquisition will become part owner of a profitable and cash-generative, diversified global upstream portfolio
It poured some US$2.72 billion last year into Abu Dhabi National Energy Company (TAQA), an integrated utility champion in the EMEA region
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...The partnership between the two will increase the sustainability of the PIF-backed giga project and also ramp up its activities
The cooperation with leading groups in the nonprofit sector is designed to lift up the quality of life for the underprivileged families
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...The CCA, established in 1974, regulates various credit transactions, including Islamic finance products, such as credit card purchases, personal loans, and consumer hire agreements
The proposed reforms, combined with organic development and the utilization of FinTech solutions, will further support the expansion of Islamic finance in the country
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...According to the Egypitan tourism minister, Iranian tourists will arrive in the country and visit southern coasts of Sinai, Nubia and Taba
Haitham bin Tariq, the Sultan of Oman, played a pivotal role as a mediator in ending years of enmity between Egypt and Iran
Iraq to pay for Iranian gas imports with oil: Iraqi PM
The Iraqi prime minister said the decision to pay for Iranian gas imports with oil corresponds with the mechanism agreed...Iran cut its supply of gas to Iraq by nearly half some ten days back because of unpaid bills of more than $12 billion
Gas stoppages have worsened the frequent power outages in much of Iraq during the hot summer months
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
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
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.
