Manama, Bahrain-- The GCC Commercial Arbitration Centre has started to harness AI techniques, according to its secretary general, Dr. Kamal bin Abdullah Al Hamad. The initiative aims to enhance international commercial arbitration processes, aligning with the national visions of the Gulf Cooperation Council countries. It is in harmony with the...

Manama, Bahrain--The Bahrain Tourism and Exhibitions Authority (BETA) began a roadshow in Shanghai and Guangzhou, China, involving prominent travel, tourism, aviation, and hotel sectors.  The roadshow aims to promote Bahrain as a prominent tourist destination in regional and global markets, enhancing the sector's contribution to the gross domestic product in...

The fabrication unit will cost the firm US$5.44m.

Dubai, UAE--The UAE leadership places utmost importance on supporting farmers to enhance the sustainability of the agricultural and food sector, ensure national food security and address climate change, according to Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment. She was speaking at the ninth meeting of the...

Riyadh, Saudi Arabia - Saudi EXIM Bank signed line of credit agreements worth $51 million with Türkiye Finans Katılım Bankası A.Ş. and Albaraka Türk Katilim Bankasi A.S. The agreement is likely to help boost trade between the two countries and facilitate the flow of Saudi non-oil exports to the Turkish...

Google has agreed to settle a consumer privacy lawsuit seeking at least $5 billion in damages over allegations it tracked the data of users who thought they were browsing privately. In a court filing, the judge confirmed that lawyers for Google reached a preliminary agreement to settle the class action...

Riyadh, Saudi Arabia - Saudi Arabian Mining Company (Maaden) on Thursday announced a discovery of substantial gold reserves, marking a significant milestone in their exploration efforts. Initiated in 2022, the company's exploration program led to discovery of a promising gold resource potential spanning across a 100-kilometer stretch from the existing...

The car manufactured by Xiaomi likely to enter market by 2025.

QatarEnergy will supply 18m barrels of crude oil per year to Shell.

Emirates Stallions Group is an IHC subsidiary.

Through their AI chatbots, the companies "seek to free-ride on The Times' massive investment in its journalism by using it to build substitutive products without permission or payment," the lawsuit said. With the suit, The New York Times chose a more confrontational approach to the sudden rise of AI chatbots,...

Last month flydubai, another low-cost Emirati airline, became the first international carrier to resume flights to Afghanistan since the chaotic withdrawal of US forces in 2021. Apart from flydubai, Afghanistan's Kam Air and Ariana Afghan Airlines currently operate limited services from Kabul to destinations including Dubai, Moscow, Islamabad and Istanbul.

Cairo, Egypt -- AD Ports Group (AD Ports) has signed a concession agreement with the Red Sea Ports Authority (RSPA) for the development and operation of a multi-purpose terminal at Safaga Seaport. The Safaga Port definitive agreement, sanctioned under the Law on the Granting of Commitment Contract issued on 1st...

Riyadh, Saudi Arabia -- The cornerstone was laid for an integrated SAR150 million ($39.99 million) Logistics Park at Dammam's King Abdulaziz Port by the Saudi Ports Authority (Mawani) and MELDOG, the logistics arm of the Mediterranean Shipping Company. The area of the new park is 100,000 sq. meters, with capacity...

Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has invited interested parties and specialists concerned with “Key Principles of Governance in Financial Institutions” to send their feedback via the Public Consultation Platform at the National Competitiveness Center. The amended key principles aim to keep alignment with the latest regulatory...

Maritime Hub Abu Dhabi will boost the marine sector.

Abu Dhabi, UAE--The insurance sector in the UAE witnessed growth and expansion across various key indicators during 2022, according to a report by the Central Bank of the UAE, reflecting a strong, dynamic, and active market driven by increasing demand and effective risk management. According to the apex bank's annual...

Muscat, Oman - Oman's achieved a 15.4% year-on-year sector growth, as reported by the National Center for Statistics and Information (NCSI). The growth revolves around a rapidly evolving landscape, propelled by strategic investments and diversification endeavors. Maritime freight was at the forefront, commanding a significant 54.8 percent share of all...

A US import ban on certain Apple smartwatch models came into effect, after the Biden administration opted not to veto a ruling on patent infringements. The United States International Trade Commission (ITC) decided in October to ban Apple Watch models over a patented technology for detecting blood-oxygen levels.

Abu, Dhabi, UAE -- A new UAE law contributes to enhancing insured Emiratis chance in obtaining a retirement pension by merging employment years at no cost, which increases the possibility of obtaining a pension and/or end-of-service gratuity once ready to retire. Announced by the General Pension and Social Security Authority...

The collaboration will involve efforts from both parties.

Dubai, UAE -- Three toolkits have been developed for family-owned businesses, which make up approximately 90 percent of the UAE’s private sector, by the Dubai Centre for Family Businesses. The toolkits – Succession Planning for Family Businesses, Family Office and Fostering Productivity through Streamlined Family Communication-- focus on key areas...

DUBAI, UAE - The Telecommunications and Digital Government Regulatory Authority (TDRA) has signed a Memorandum of Understanding (MoU) with the Dubai Maritime Authority of Dubai Ports, Customs and Free Zone Corporation (PCFC). This partnership marks a significant stride in improving the regulatory framework for maritime business operations to enhance efficiency...

Riyadh, Saudi Arabia -- Saudi Ministry of Industry and Mineral Resources is set to launch nearly 35 renewable energy projects in 2024, Minister Bandar AlKhorayef said. The coming year will witness the execution of a big number of projects as well as investments, AlKhorayef added on the sidelines of the...

Riyadh, Saudi Arabia -- Aramco Digital Co. and Intel have unveiled plans to establish Saudi Arabia’s first open radio access networks (RAN) development center. The step aims to drive innovation, promote technological advancement, and contribute to Saudi Arabia’s digital transformation, according to a statement by both companies. This collaboration will...

Manama, Bahrain--National accounts estimates issued by the Information eGovernment Authority of the Kingdom of Bahrain showed that the real GDP of the Kingdom increased by 2.45% at constant prices and by 1.09% at current prices during the third quarter of 2023 compared to the same period in 2022. Bahrain News...

The company said it had been manipulating safety tests since at least 1989, affecting 64 models, including some sold under the Toyota brand which also are being suspended. In April it said it had been falsifying crash test results for four of its models, involving a total of 88,000 vehicles...

They partnered to lead global expansion of the cooling sector.

The US$3m-contract is for the laying of GRE pipes in Hatta.

Gulf International Bank is a merchant bank in the Middle East

Abu Dhabi, UAE--UAE stocks generated strong cash flows Monday, with market liquidity surpassing $272 million. International Holding Company (IHC) and Dubai Electricity and Water Authority (DEWA) topped the market in terms of number of transactions. The Abu Dhabi Securities Exchange (ADX) gained $241.25 million in liquidity, as compared to the...

MAKKAH, SAUDI ARABIA - The Makkah Chamber of Commerce and Industry and the Chamber of Commerce, Industry, and Services of Beni Mellal Khenifra in Morocco signed a partnership agreement to strengthen economic and commercial cooperation. The agreement was signed on Sunday in the presence of the Assistant Consul General at...

Abu Dhabi, UAE -- Institutional investors boosted their acquisition of domestic stocks in 2023, purchasing nearly AED 7 billion ($1.9 billion) in local stocks from January to December 2023. This figure reflects a total purchase of AED 302.7 billion compared to total sales of approximately AED 295.8 billion. Institutional investors...

ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy have joined hands to further decarbonize the Emirate’s booming industrial sector. The collaboration supports Abu Dhabi Industrial Strategy's vision to establish the Emirate as the most competitive industrial hub in...

Dubai, UAE -- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum Monday issued a decree for the formation of the Board of Dubai Corporation for Ambulance Services chaired by the Director-General of Dubai Health Authority. The Assistant Commander-in-Chief for Excellence and Pioneering Affairs of Dubai Police will serve as the...

The insurance firm made a slew of new appointments.

Seoul, South Korea--South Korea's exports of eco-friendly vehicles surged 32.5 percent year-on-year to a record high during the first 11 months of 2023, due to solid global demand for electric vehicles (EVs), Yonhap News Agency reported on Sunday. The export volume of eco-friendly automobiles came to 662,307 units during the...

According to the Kuwait Central Statistical Bureau, the upward trend was mainly attributed to rising prices across all major groups impacting key indices, especially food, education, and clothing. The food and beverages sector experienced the most notable increase, with its index surging by 5.81% in November compared to the same...

Dubai, UAE -- Hamriyah and Deira ports have reported 62,454 customs declarations, totaling AED 12.133 billion ($3.30 billion), with 19 seizures recorded over the first nine months of this year. Ahmed Mahboob Musabih, Director General of Dubai Customs, CEO of Ports, Customs and Free Zone Corporation, recently visited Creek Customs...

The emirate recorded a total of 3,785 real estate transactions worth AED 16.6bn ($4.51 billion) during the week ending 22 December 2023. Palm Jabal Ali recorded the most transactions for this week with 35 sales transactions worth AED 850.21 million.

Manama, Bahrain--Export Bahrain and Hong Kong Trade Development Council (HKTDC) have signed a strategic partnership agreement to strengthen trade ties and create new avenues of opportunity for small and medium-sized enterprises in the Kingdom of Bahrain.  The strategic partnership agreement seeks to foster mutually beneficial trade and economic cooperation. It...

SAN FRANCISCO, US - A US federal court ruled that social media company Twitter, now branded X, violated contracts by failing to pay annual performance bonuses it orally promised its workers. The breach-of-contract lawsuit was brought by former employer Mark Schobinger in June. The lawsuit said Twitter had promised workers a...

Doha, Qatar--The General Authority of Customs and the General Tax Authority have announced the launch of the interconnection between their electronic services, as part of the efforts to facilitate procedures for business owners and benefit from the development of the digital infrastructure in Qatar. The interconnection launch announcement comes to...

Doha, Qatar-- Inflation in Qatar is expected to fall in 2024, according to Ali bin Ahmed Al Kuwari, the Minister of Finance. In a press conference on Thursday, the minister said that the inflation witnessed in Qatar in 2023 was temporary and associated with a specific period and reasons, such...

The CEPA will cover trade in goods and services, investment facilitation amongst others. Once implemented, it will accelerate robust growth in non-oil bilateral trade between the UAE and Mauritius, which in H1 2023 stood at US$63.1 million, with opportunities strongest in chemicals, metals and petroleum products sectors.

Abu Dhabi's Shuweihat 4 desalination project secures $444 million.

The move is likely to enhance ESG’s manpower portfolio.

Canadian Finance Minister Chrystia Freeland said RBC would be required to establish "a new integrated banking center" in Vancouver, eliminate certain transfer fees between the two banks, and "protect" the jobs of HSBC Canada's 4,000 employees. Canada's leading bank will also have to increase its workforce in the Manitoba's provincial...

Beijing first moved against the gaming sector in 2021 as part of a sprawling crackdown on big tech, including a strict cap on the amount of time children could spend playing online. But the draft regulations announced Friday would introduce limits on recharging in-game wallets and abolish features meant to...

The project was announced in April after Tesla chief Elon Musk presented a vague but ambitious plan to investors to turbocharge growth. Company representatives signed an agreement to acquire land for the factory on the outskirts of Shanghai on Friday morning, according to state news agency Xinhua.