Govt collaborations help Dubai lead in AI innovation
"Government entities must be thoroughly prepared for technological advancements that will change how they operate and provide services. A high...Economy
Saudi Arabia transfers 8% Aramco stake to PIF-owned firms
Saudi Arabia said it transferred an additional eight percent stake from oil giant Aramco to firms owned by the kingdom's...Business Economy Energy
UAE MoIAT, Sharjah FDI Office ink MoU to promote investment
SHARJAH, UAE - The UAE's Ministry of Industry and Advanced Technology (MoIAT) and Sharjah Foreign Direct Investment Office (Invest in...The aim of the MoU is to support sustainable economic growth within a supportive economic environment.
The MoU enhances cooperation between MoIAT and the Sharjah Foreign Direct Investment Office (Invest in Sharjah), through work and partnerships
Dubai Chamber encourages firms to apply for parent-friendly label
DUBAI, UAE - As many individuals in the UAE face challenges in balancing work and family obligations, parent-friendly workplace policies...Working families in the UAE often need to make difficult trade-offs to fulfill their commitments.
Research has shown that flexible working options are important to 90 percent of the UAE workforce.
Industry experts discuss fintech at Sharjah Investment Forum 2023
SHARJAH, UAE - Financial innovation and technology trends in global financial services sector were in the spotlight during a panel...Fintech and traditional financial institutions are intertwined and depend on each other.
Fintech reaches populations who may not have access to traditional banking system.
Saab 2022 net profit at $211m
Revenue rose as countries boost military spending.Order intake for the Swedish company totaled US$6.1 billion in 2022, a 45 percent increase from the previous year.
They soared by 144 percent in the fourth quarter alone to US$2.8 billion year on year.
Russia to slash oil output by 5% over Western price cap
Russia is part of an alliance with OPEC that meets regularly to decide on oil output levels. As a result...The international benchmark, Brent North Sea crude, leapt 2.3 percent to $86.48 per barrel. New York contract WTI soared 2.5 percent to $80.01.
"Russia will voluntarily reduce production by 500,000 barrels per day in March. This will help restore market relations," Deputy PM Alexander Novak said.
World Bank to provide Turkey $1.78 bn for recovery after quake
The 7.8-magnitude quake struck as people slept early Monday, with Turkish officials saying that over 70,000 people have been injured...Immediate assistance of $780 million will be offered via Contingent Emergency Response Components from two existing projects in Turkey
An added $1 billion in operations is being prepared to support people affected amid recovery and reconstruction from the catastrophe
‘Dubai among key global maritime destinations’
The emirate has achieved record growth in the service of refuelling vessels during in 2022, as it recorded about 1.1...Dubai is one of the leading players in the maritime sector, as it ranks among the most important global maritime destinations such as London, Singapore, Shanghai and Hong Kong
The emirate has achieved record growth in the service of refuelling vessels during in 2022, as it recorded about 1.1 million metric tonnes, with a growth rate of 30 percent
Credit Suisse 2022 loss $7.9bn
Since March 2021, bank's stock lost over 75% of value.The Zurich-based lender had waved goodbye to more than eight billion Swiss francs during the global financial crisis 15 years ago
Credit Suisse recorded net asset outflows of 110.5 billion Swiss francs in the fourth quarter of last year alone, mostly in October
Turkey, Syria quake economic losses may exceed $4 billion: Fitch
More than 17,500 people have died so far in the 7.8-magnitude earthquake that struck Turkey and Syria.More than 17,500 people have died so far in the 7.8-magnitude earthquake that struck Turkey and Syria.
Insured losses will be much lower, possibly around $1 billion, due to low insurance coverage in the area.
AstraZeneca 2022 profit $3.3bn
The firm's revenues rose to US$44.4 billion in 2022.Investors welcomed AstraZeneca's earnings update, with its share price rallying five percent to US$13.7 in London.
The annual net profit was boosted by cancer treatments and the integration of biotech unit Alexion following a takeover.
