Kuwait City, Kuwait -- The Arab Monetary Fund has said that the market capital in Arab bourses reached US$4.5 trillion at the end of last week's trade, climbing by 1.2 percent.The fund's weekly report said the market capital of BouKuwait amounted to US$137.5 billion, that of the Abu Dhabi stock...

Moscow, Russia -- The volume of Russian gas supplies to Europe through Ukraine is 41.5 million cubic meters per day, a Gazprom spokesman said. "Gazprom continues to supply Russian gas for transit through Ukrainian territory via the Sudzha gas pumping station in an amount approved by Ukraine. The volume is...

stc’s subsidiary TAWAL buys assets in eastern Europe.

The ultra-connected industry is eyeing the innovation warily, with fears growing that jobs could be made redundant and artistic creations usurped. Responsive non-playable characters or the automatic generation of images, code and game scenarios are among the possible uses for developers using AI.

Manama, Bahrain--Bahrain has indicated its keenness to encourage investments in the kingdom's oil and environmental projects through partnerships with the private sector, especially banks, to achieve sustainable development goals. Dr. Mohammed bin Mubarak bin Daina, Oil and Environment Minister, Special Envoy for Climate Affairs, has affirmed the government’s keenness to...

AMMAN, JORDAN - President of the Jordan Chamber of Commerce (JCC) Khalil Al-Haj Tawfiq on Saturday discussed with Director General of the Federation of Yemen Chambers of Commerce and Industry (FYCCI) Taha Ahmed Mahbashi, mechanisms for activating work of the Joint Business Council. The Joint Business Council of the two...

Amman, Jordan--Jordan has succeeded in securing US$1.9 billion in foreign aid and negotiations are underway to ramp it to $3.2 billion by the end of the year. Addressing Jordan's financial assistance at a forum convened by the government on the shores of the Dead Sea on Friday, Minister of Planning...

Riyadh, Saudi Arabia--Saudi Arabia's Heritage Commission has announced significant discoveries made at the Al-Abla site in Asir region during the seventh season of archaeological excavation there. The new discoveries, including architectural features of residential and industrial units with gypsum-coated walls and floors, are an extension of previous discoveries over the...

The foreign minister said that his country does not see any alternative to the original initiative because in his words they carry risks. He completely dismissed an alternate route reportedly being considered by the US. Last month, Russia pulled out of a landmark deal that enabled Ukraine to export more...

Budapest, Hungary--Senior officials from the UAE and Hungary met in Budapest on 22nd August for the inaugural round of the Political Consultations Committee between the UAE’s Ministry of Foreign Affairs and Hungary’s Ministry of Foreign Affairs and Trade. The UAE delegation was led by Ambassador Lana Zaki Nusseibeh, Assistant Minister...

It comes as EU rules on tech platforms enter into force.

The builder has accumulated debts of more than $150bn.

Dubai, UAE -- A total of 3,229 real estate transactions worth over AED 23.1 billion ($6.28 billion) were conducted during the week ending 25th August 2023, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 183 plots were sold for AED 1.33 billion, while...

ABU DHABI, UAE - Borouge's Chief Operating Officer Dr. Hasan Karam has said the fifth polypropylene unit (PP5) played a significant role in H1 2023, contributing US$209 million (AED767 million) representing 22 percent of the company's propylene sales and 10 percent of our overall turnover. In a statement to the...

JOHANNESBURG, SOUTH AFRICA - Algerian Minister of Finance Laaziz Faid discussed with South African Finance Minister Enoch Godongwan, ways to enhance economic cooperation between the two countries. During the meeting on Thursday, the two ministers discussed the available opportunities to enhance trade exchange and joint investment, with the aim of...

Jeddah, Saudi Arabia-- The Saudi Ports Authority (Mawani) has reached a partnership deal with Port of Rotterdam to collaborate in the areas of smart ports, human capital development, knowledge transfer, and performance optimization in support of the Kingdom's economic diversification efforts aimed at creating a state-of-the-art investment and trade hub....

Berlin, Germany -- A delegation of Saudi Ministry of Industry and Mineral Resources, which visited Germany, discussed enhancing cooperation to develop human capacities in industry and mining with a number of German companies. The delegation from the ministry, headed by Deputy Minister of Industry and Mineral Resources for Human Capability...

One measure of usership, by company Similarweb, showed that daily active users on the Android version of Threads dropped to 10.3 million from the peak of 49.3 million. In the week of the Threads launch early last month, Meta CEO Mark Zuckerberg cautioned the app would "take time to stabilize,...

The insurance policy will protect the risk of non-payment.

Riyadh, Saudi Arabia -- An American pure ultra-white falcon cherrug sold for SAR550,00 ($146,000) at the third edition of the International Falcon Breeders Auction, hosted by the Saudi Falcons Club in Malham, north of Riyadh. The most expensive falcon, known locally as a Hur, belongs to the American MGE farm....

Abu Dhabi, UAE -- The Ministry of Human Resources and Emiratization (MoHRE) of the UAE and job search and recruitment platform Bayt.com have signed an MoU to enhance the retention of competent talent working in the Emirates' labor market. The MoU was signed by Khalil Al Khoori, Undersecretary of MoHRE...

DUBAI, UAE - Dubai Chambers has contributed to the emirate’s drive for sustainability by saving a total of 72,239 litres of water between June 2022 and June 2023, equivalent to 3,822 five-gallon bottles. The savings were achieved as part of the chambers’ participation in ‘Dubai Can’, a sustainability initiative launched...

VNG operates music streaming, mobile payment and online games.

EU rules will apply from Friday to Google, alongside 18 other large social media platforms and websites including Meta-owned Instagram, Twitter (rebranded as X) and TikTok, forcing the companies to better police content, or face the risk of billions of euros in fines. Among the Google products listed were YouTube,...

Dubai, UAE – The global semiconductor industry is set to witness a significant revenue boost in the coming year, with artificial intelligence (AI) chips taking center stage. According to the latest report from Gartner, Inc., AI chip revenues are projected to reach a staggering $53.4 billion in 2023, marking a...

Around 2.3 million Palestinians live in the territory, which has been under a crippling Israeli blockade.

Cairo, Egypt--Egypt's unemployment rate fell slightly by 0.1 percent to 7 percent in the second quarter of 2023, according to the country's statistics agency CAPMAS report on Tuesday. More than two million Egyptians were without a job, including 1.2 million men and 941,000 women, the data revealed, adding that 61.8...

The company's stock rose more than 8 percent following the results. This year the company's share price has more than tripled. Nvidia's quintessential position in delivering artificial intelligence has made it a bellwether on the generative AI frenzy that took hold of the tech world after the release of ChatGPT...

The investment bank bought a 35% stake in Kuwaiti firm.

The airline's annual profit climbs up to US$1.1 billion.

PouYuen Vietnam employs an estimated 40,000 workers.

A rally in Nvidia helped propel gains in global markets earlier this week, though traders could not keep up the buying owing to ongoing rate worries.

Tehran, Iran -- The trade exchanges between Iran and China in the first seven months of the current year reached $8.540 billion, with China’s export of products to Iran accounting for $6 billion of it. The trade declined by 11 percent compared to the same period last year, China’s Customs...

Moscow, Russia -- One fourth of all investors in state securities have been forced to leave the Russian market due to sanctions, Russia's Finance Minister Anton Siluanov said at a meeting of the Council for strategic development and national projects headed by President Vladimir Putin. "We see that a considerable...

Dubai, UAE -- The Gulf Cooperation Council countries were the top destinations for exports and re-exports of Dubai Chamber of Commerce member companies during the first half of 2023. The Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, said Saudi Arabia was named the top...

The fast-food chain has some 37,000 outlets across the world.

Riyadh, Saudi Arabia--The Saudi Esports Federation will launch the "Next World Forum" on August 30 and 31 in Riyadh, at the conclusion of the activities of the largest event for games and electronic sports in the world, "Gamers8: The Land of Heroes." The forum will discuss promising opportunities in the...

The foreign minister's visit is also intended to pave way for Turkish President's trip to Baghdad for which a date is yet to be finalized. The issue of water and dams on the Tigris and Euphrates rivers, both of which have their sources in Turkey before entering Iraq, is a...

One of the changes announced by Nick Clegg, Meta's president of global affairs, includes giving European users of Facebook and Instagram the option to view different types of content not based on profiling, a requirement under the EU's Digital Services Act (DSA).

A previous version of the acquisition deal was blocked.

The gains, including a jump in US tech stocks, "looked more like a correction than a reaction to fresh news, as there was no fresh news that went against the slowing China rhetoric" or indication of a possible shift in policy by US monetary policymakers, said Swissquote Bank analyst Ipek...

Ajman, UAE -- Ajman real estate market grew 15.6 percent year-on-year to AED 7.17 billion ($1.95 billion) in the first half of 2023, according to data released by the emirate's Department of Lands and Real Estate Regulation. Omar bin Omair Al Muhairi, Director-General of the Department of Lands and Real...

Tehran, Iran -- Iran exported $2.9 billion worth of non-oil products to Iraq in the first four months of the current Iranian calendar year, an official with the Trade Promotion Organization of Iran (TPOI) said, adding that the country’s export to Iraq will reach $10.5 billion by the yearend. Iran’s...

RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) reported a remarkable surge in the registration of holding companies since introducing this company structure in 2020. The consistent rise in registrations highlights the growing appeal of this innovative investment vehicle, as the total number of holding companies rose...

Dubai, UAE -- The Dubai Gold & Commodities Exchange (DGCX) Tuesday said it is waiving trading, clearing and delivery fees for its Shariah Compliant Spot Gold Contract as it expects the move to increase trading volumes. In a statement, DGCX said after having received regulatory approval from the UAE Securities...

Surpassing pre-pandemic levels, more than 40 million passenger visits were recorded at Dubai international airport in the first half of the year, a 50 percent jump. According to its operator, the airport, busiest for international passengers before Covid-19, the passenger traffic went well past the number recorded in the first...

Nairobi, Kenya--African Civil Aviation Commission (AFCAC) and Qatar have signed a partnership agreement to strengthen cooperation in the aviation field. This came during the activities of the 8th Africa and Indian Ocean (AFI) Aviation Week, organized by the AFCAC in cooperation with the International Civil Aviation Organization (ICAO) in Nairobi,...

Abu Dhabi, UAE--UAE stocks generated strong cash flows on Monday as the International Holding Company (IHC) maintained robust performance and closed at AED400.6, following more than $59.14 million worth of transactions. Multiply Group gained $43.75 million in liquidity, closing high at AED3.670. Emirates Insurance Company (EIC) was the best performer...

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) has revealed that its total foreign assets increased to $161.22 billion at the end of June, from $160.70 billion in May. The UAE's current account balances and deposits with banks abroad amounted to $99 billion by the end of...

Aim is administration of Employee Money Purchase schemes.