RIYADH, SAUDI ARABIA - The National Center for Wildlife, in cooperation with the Prince Mohammed bin Salman Royal Reserve released 85 endangered animals, the first batch in the 2023-2024 season. The release is part of the center's program with increasing and relocating endangered wild animals, restructuring ecosystems, and enriching the...

Obeikan AGC Glass will have an export credit insurance policy.

The agreements with Sharjah Ports extended for another 35 years.

Dubai, UAE -- Abu Dhabi-based Fertiglobe, a strategic partnership between ADNOC and OCI Global, has completed the maiden shipment of the world's first internationally recognized renewable ammonia with ISCC PLUS (International Sustainability and Carbon Certification) certification. The renewable ammonia, generated at Fertiglobe's facilities in Egypt utilizing renewable hydrogen from its...

DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region and steering investment and financial requirements towards a more environmentally responsible approach. Bashar Al-Natoor, Global Head of Islamic Finance and Managing Director at Fitch Ratings, expressed optimism...

DUBAI, UAE – Dubai Customs has experienced a robust 13 percent increase with 21.6 million transactions during the first nine months of this year. This surge contrasts with the 19 million transactions recorded during the same period last year. The upswing aligns with the targets of Dubai’s economic agenda D33,...

AJEX will have rights to operate warehousing facilities at Modon.

NEW YORK, US - The US transition to electric cars has hit a speed bump, with concerns about vehicle range and limited charging capacity adding to core affordability issues. Automakers in recent weeks have pushed back EV sales targets and delayed capital projects as they seek to reduce inventories of unsold...

PARIS, FRANCE - Rarely a month goes by without big tech companies getting fined for price fixing, squashing competitors or misusing data, but it can take years before they pay a penny. Ireland's data regulator confirmed to AFP that Meta has not paid any of the US$2.2 billion (2 billion euros)...

Announced in February 2021, Saudi Arabia's regional headquarters (RHQ) program is widely seen as a bid to compete with Dubai in the neighboring United Arab Emirates, a favorite base for global firms with business in the Middle East. Despite complaints from some executives that there remains a lack of clarity...

Dubai, UAE-- With its financing packages for the renewables sector to support the transition to clean and sustainable energy sources, Emirates Development Bank (EDB) underscores its commitment to driving the development and growth of solar power adoption across the emirates. The bank, in line with the UAE Energy Strategy 2050...

Manama, Bahrain-- Bahrain and Thailand have held discussions to enhance economic cooperation in a meeting between top officials of the two countries. In this regard, Dr. Shaikh Abdulla bin Ahmed Al Khalifa, Political Affairs Undersecretary at the Ministry of Foreign Affairs, today met Worawoot Pongprapapant, Director-General, Department of South Asian,...

Abu Dhabi, UAE-- The third edition of the Investopia summit will be held in Abu Dhabi in February next year, drawing prominent local and international figures, investors, government officials, decision-makers and entrepreneurs. Al Marri announced the details of the upcoming edition of the Investopia summit to be held under the...

Brussels, Belgium - Tech giants Meta and TikTok are contesting the scope of an EU law that from March will set new rules on competition in the digital marketplace. The European Commission has designated 22 big online companies as "core platform services" to be subject to additional scrutiny and obligations under...

Shanghai, China - US restrictions on advanced computer chips are forcing China's tech giants to rethink their ambitious AI-powered projects, analysts say. E-commerce titan Alibaba on Thursday became the latest Chinese firm to admit to feeling the bite of US sanctions, as it abandoned a plan to spin off its multi-billion-dollar...

RIYADH, SAUDI ARABIA - National Building and Marketing Co’s (NBM) board of directors approved an increase of Murabaha SAR-denominated sukuk issue from US$26 million (SAR 100 million) to US$133 million (SAR 500 million).  The move aims to boost the company's capital expansions and working capital, the company said in a...

ABU DHABI, UAE - Abu Dhabi Ship Building (ADSB) announced that it is building two 28-meter vessels for ADNOC Logistics and Services plc (ADNOC LS), a global energy maritime logistics leader. The order for these vessels further strengthens the relationship between ADNOC LS, a global energy maritime logistics leader, and...

EPI is part of the Platforms Systems cluster within EDGE.

Riyadh, Saudi Arabia -- Ibrahim Sarhan, the Chairman and Managing Director of e-Finance for Digital & Financial Investments based in Egypt, has disclosed that Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF), has submitted an application to the Egyptian Financial Regulatory Authority (FRA) seeking to boost its ownership...

In the year since taking over Twitter, now rebranded as X, Musk has gutted content moderation, restored accounts of previously banned extremists. A recent study by the disinformation monitoring group NewsGuard found that paying subscribers at X were the big spreaders of misinformation about the Israel-Hamas war.

Abu Dhabi, UAE – ADASI, the EDGE Group entity, a regional leader in autonomous systems and services, said on Thursday that it has signed an AED 239 million ($65 million) contract to supply GARMOOSHA unmanned aerial systems (UAS) to the UAE Ministry of Defence. "We are honoured to deliver our...

Alibaba is a key player in China's expansive digital economy and the operator of a major online shopping platform. The Hangzhou-based group's performance is considered a barometer of domestic consumption, which has flagged in recent months.

Dubai, UAE - Dubai-based Emirates on Thursday announced an order for 15 long-haul Airbus A350-900s, bringing to 110 the number of additional aircraft the company has ordered at this year's Dubai Air Show. "The A350-900s will add to our fleet mix and we are pleased to announce additional orders for this...

This is due to the steady growth in its consumption volumes.

Its shares rose over 6 percent on the Frankfurt Stock Exchange.

RIYADH, SAUDI ARABIA - Since its foundation, the Kingdom has been keen to build bridges of communication with all the countries in accordance with a clear policy to build positive relationships based on respect, cooperation and common interests. The Kingdom's interest in establishing relations with the Caribbean Community (CARICOM) stemmed...

Abu Dhabi, UAE – EDGE, an advanced technology group specialising in precision engineering in the UAE’s aerospace, oil & gas, and defence industries, announced on Wednesday their contract to supply multiple hard metal parts on Boeing’s 777, 777X, and 787 commercial aircraft. The announcement was made during the ongoing Dubai...

Its income for the first nine months of 2023 is US$816m.

Manama, Bahrain-- Bahrain and Russia have held discussions to enhance cooperation in various fields of the two countries' economies. In this regard, Dr. Mohammed bin Mubarak Bin Daina, Minister of Oil and Environment and Special Envoy for Climate Affairs, met Roman Panov, the President of the Russian GEOTEK company, a...

Tehran, Iran--Senior Iranian and Russian diplomats held talks in Tehran to discuss the BRICS group and its fields of activities in the spheres of trade, finance and economy. Mahdi Safari, Iran's Deputy Foreign Minister for Economic Diplomacy hosted the Deputy Minister of Foreign Affairs of the Russian Federation and the country's special envoy for BRICS affairs...

According to a report "Fragile Equilibrium: LNG Trade Dynamics and Market Risks" China has surged ahead of Japan to become the world's largest LNG importer. The US became the top LNG exporter in 2023. The IEF's secretary general said that demand for LNG has grown and continues to "enhance energy...

ABU DHABI, UAE - Some employees who failed to meet an October 1 deadline to sign up to the UAE's job loss insurance scheme will not be able to renew work visas until they pay off fines, authorities said on Wednesday. The Ministry of Human Resources and Emiratization said financial...

Alstom said it aims to cut debt by 2 billion euros by March 2025.

"Once we've reached about 120 million (passengers a year), which is what we think our total capacity at DXB (Dubai International) is at the absolute maximum with everything optimized, we are going to need a new airport," Dubai Airports CEO Paul Griffiths said.

Dubai, UAE -- EDGE, one of the world's leading advanced technology and defense groups, announced that it bagged an AED 4.1 billion ($1.1bn) contract for the supply of aircraft munitions at Dubai Air Show Wednesday. EDGE entity LAHAB DEFENCE SYSTEMS, the UAE’s sole munitions manufacturer, was awarded the contract which...

Latest generation Safran Seats for new Emirates Airbus fleet part of the deal.

RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) and CMA CGM launched on Wednesday a new logistics park at Jeddah Islamic Port, with a total area exceeding 130,000 square meters and an investment value nearing US$132 million (SAR 487 million). President of Mawani Omar Hariri said, “The new logistics...

DUBAI, UAE – Tawazun Council announced the signing of 11 deals, worth US$1.8 billion (AED 6.9 billion), with local and international companies on the second day of the Dubai Airshow 2023. Tawazun Council is an independent government entity that works closely with the Ministry of Defense and security agencies to...

The company's third-quarter revenue grew by 8% to $5.80 billion.

Tehran, Iran-- Iran is linking up its electricity grids with Russia via Azerbaijan in order to make up for its power shortfall. The Islamic republic's minister of energy said the electricity grids of Iran and Russia would be connected, adding that feasibility studies for the connection via the Republic of...

In-app shopping will be available for select products advertised on Snapchat and sold at Amazon, the spokesperson added. People will be able to link their Snapchat and Amazon accounts to take advantage of the in-app shopping feature, according to Amazon.

It posted a 189% jump in revenue in Q3 to US$1.15bn.

Washington, US--Google has warned users against trying to obtain its Cold generative artificial intelligence (AI) model from external sources currently available on the Internet and confirms in an official statement that the copies are spyware that will expose users to danger. Google continues to work on Bard tools, which are...

The expected injection of billions of dollars into the retail business through sale of varied items can turn out to be a much-needed boost for a sector experiencing "sales fatigue."

The expected injection of billions of dollars into the retail business through sale of varied items can turn out to be a much-needed boost for a sector experiencing "sales fatigue."

The transaction is worth $3.2 billion, reports say.

Dubai, UAE - UAE's Tawazun Council, an independent government entity that works closely with the Ministry of Defense and security agencies to maximize value through acquisition systems, announced signing of nine deals worth $1.27 billion with local and international companies on day 1 of the Dubai Airshow 2023. The announcement...

Foxconn is China's largest private-sector employer.

Dubai, UAE -- Emirates has unveiled a plans to build a $950 million cutting-edge engineering facility at Dubai World Central (DWC). Spanning 1 million square meters, the engineering complex is set to become the most extensive and advanced facility of its kind operated by any airline globally, Emirates said in...

Davos, Switzerland -- Denmark, the Netherlands, and Germany have emerged as the leading countries for remote working, offering the best combination of cybersecurity, economic stability, infrastructure, and social safety, the latest Global Remote Work Index 2023 said. The index, which evaluates 108 countries, is a crucial tool for remote workers...