India plugs into the Gulf region with power cables
India is poised to revolutionize its energy landscape by linking its power grid with Saudi Arabia and the UAE via...Economy Energy
First week of Ramadan sees Saudis spend $3.12 billion
Riyadh, Saudi Arabia - Saudi Arabian consumers spent a total of SR11.68 billion ($3.12 billion) through point-of-sale transactions during the...Economy
Yemen stampede kills 85 at a charity distribution event
In one of the deadliest stampedes in a decade, more than 80 people died and hundreds were injured at a...The incident occured inside a school where aid was being distributed among hundreds of people gathered to receive handouts
According to the UN, more than two-thirds of the population lives below the poverty line, including employees who have not been paid in years
Perfect storm will make dollar biggest loser of 2023: deVere CEO
The warning from the boss of the financial giant follows the dollar having already dropped 10 percent from its peak...The warning from the boss of the financial giant follows the dollar having already dropped 10 percent from its peak hit last year
He warns that there is a transition underway from a bull to a bear cycle for the dollar and that this will impact the global investment environment
Abu Dhabi announces $100m Culinary Investment Fund
Dubai, UAE -- The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) Wednesday announced a new $100...DCT said the fund will support building and establishing a Culinary School to aid with recruitment, training, and other staffing resources in the sector.
The first two recipients of the new Abu Dhabi Culinary Investment Fund would be announced in the coming months.
MBM Holding, Portland Holdings ink MoU
Firms will work together on nuclear, renewable energy.The two firms seek to address global challenges by adopting innovative solutions in health sciences and nuclear and clean energy.
The MoU comes as part of the UAE’s Year of Sustainability in preparation for the country's hosting of COP 28 to promote environmental sustainability.
More rate rises may be needed to tame high inflation, says ECB economist
FRANKFURT, GERMANY - More eurozone interest rate increases will be appropriate to tame high inflation if conditions remain as expected, the...The ECB has hiked rates by 3.5 percentage points since July last year in an unprecedented campaign of monetary tightening.
The central bank holds its next meeting on May 4 and all eyes are on whether policymakers will implement another hike and by how much.
M42 acquires Diaverum
Diaverum is world’s third-largest provider of dialysis services.Founded in 1991, Diaverum operates across 23 countries, with 440 clinics and over 13,000 employees.
It has a strong track record of clinical excellence, providing critical care to around 39,000 patients.
Dubai faces tough fight as GCC nations compete for tourists on digital, social media platforms
The emirate still remains at the top of the list of places to visit in the region because of the...Several Arab Gulf countries are ambitiously trying to turn themselves into major tourist destinations, and some have already had considerable success
Dubai still remains at the top of the list of places to visit in the region because of the sheer diversity of products it has to offer and the infrastructure it has built
Focus on innovation and sustainability as RAKEZ helps businesses grow
The economic zone supports over 18,000 SMEs and multinational corporations, providing them with simplified processes, customized packages, and digitalized services,...The economic zone supports over 18,000 SMEs and multinational corporations, providing them with simplified processes, customized packages, and digitalized services, says Jallad
RAKEZ offers regular B2B networking opportunities, hosts workshops and seminars, and provides aftercare support to ensure businesses thrive in the UAE and beyond, he adds
Car sales vault in Europe, cross 1 million mark first time since 2021
Paris, France--Sales of new cars jumped last month in Europe, surpassing the level of one million for the first time since...Italy posted 40.7 percent jump in car sales while Spain recorded 66.1 percent increase as sales rose in all EU nations
German carmaker Volkswagen reported high sales, with the group selling 275,753 vehicles across its various brands
United Airlines reports Q1 loss
The US airline posted a quarterly loss of US$194mn.United Airlines said that its results were hit by higher costs, especially on salaries and for jet fuel
But the US carrier expects a rebound in demand for tickets in the coming summer months
