Dubai, UAE -- Deals worth SAR 2.3 billion ($613 million) were signed between Saudi Arabian and Turkish companies on the sidelines of the Saudi-Turkish Business Forum that kicked off in Istanbul on Wednesday. The deals have been signed for real estate development, construction, engineering consultancy and a number of other...

IDB will fund renewable projects by joining ETAF platform.

The company's net profit in H1 2022 was only $6.5 million.

Abu Dhabi, UAE--The Securities and Commodities Authority (SCA) has signed a memorandum of understanding (MoU) with the UAE Banks Federation (UBF) to foster mutual cooperation in developing the financial sector. The aim is to establish the UAE as a major attraction for asset and wealth management in line with the...

The US tech giant unveiled Bard in February but delayed its release in the European Union as the bloc plans to regulate artificial intelligence amid concerns about risks associated with the rapidly growing technology. The company said it would incorporate user feedback and take steps to protect people's privacy and data as...

Manama, Bahrain--Bahrain has climbed up to ninth position in the top destinations in the world for expatriates, according to report published by global expat network InterNations. The country gained the higher position out of all the countries in the Middle East thanks to the ease of getting a visa, dealing...

Amman, Jordan-- Jordan and Japan have discussed ways to boost economic cooperation and further strengthen strategic ties between the two countries. In this regard, Jordan's ministers of trade and international cooperation met on Wednesday in Amman with the Japanese minister of state for economy and industry for talks on economic...

Riyadh, Saudi Arabia-- Seeking to establish a broad framework for cooperation in several areas, the GCC and the Arab Planning Institute (API) have signed a a memorandum of understanding (MoU). The MoU was signed during a meeting between Jassem Mohamed Albudaiwi, GCC Secretary General of the Gulf Cooperation Council (GCC),...

London, United Kingdom - World stock markets mostly rose Wednesday as investors jockeyed for position before key US inflation data. London equities climbed after the Bank of England announced that all major UK retail lenders passed stress tests to assess their resilience to economic shocks. Frankfurt and Paris also advanced before...

Revenue from operations was US$7.2 billion.

Guangdong, China - A DEWA delegation led by Al Tayer, MD and CEO DEWA, discussed enhancing cooperation and exchanging experiences in energy storage, smart grids, digital transformation, cloud computing, and electric vehicle charging station with Huawei in China. Digital DEWA and Huawei signed an MoU which focuses on accelerating digital...

BRUSSELS, BELGIUM- The European Commission approved US chipmaker Broadcom's planned $61 billion takeover of cloud computing firm VMware on Wednesday, conditional on the company fulfilling certain commitments to ease competition concerns. The massive deal had raised concerns about competition, prompting probes by antitrust watchdogs in the European Union and Britain. The...

Nearly 140 countries have taken a first step towards reaching agreement on a fairer distribution of tax revenues from multinational firms, the Organization for Economic Co-operation and Development said. Some 138 countries, which account for over 90 percent of global economic output, agreed on a first draft of a convention...

New firm is a $54 million corporate venture capital fund.

Dubai, UAE -- Saudi Arabia's film production sector grew by 28 percent by the end of the second quarter of 2023, with more than 1700 records, compared to 1300 records during the same period last year. The Business Sector Bulletin issued by the Ministry of Commerce said the highest regions...

It also completes conditions for a joint venture.

Dubai, UAE -- Abu Dhabi Islamic Bank (ADIB) has raised $750 million in the world’s first dollar denominated additional tier-one (AT1) perpetual sukuk issued since March 2023. ADIB, which is rated A2 by Moody’s and A+ by Fitch, in each case with a stable outlook, priced the perpetual non-call, five...

DUBAI, UAE – Dubai Chambers is taking a big initiative for ensuring that businesses in the emirate provide excellent customer service. The Service Excellence Program (SEP) will evaluate the quality of customer experience delivered by private sector companies through mystery shopper reports. The initiative will ensure the implementation of global...

A minority stake in Breakwater Energy cost it US$100m.

Riyadh, Saudi Arabia--ROSHN, the Saudi real estate developer, has signed a memorandum of understanding (MoU) with the Expenditure and Project Efficiency Authority, known as Expro, to develop real estate in the kingdom.  The MoU looks to improve the efficiency and sustainability of the Public Investment Fund-backed giga-project, as well as boost...

Tehran, Iran-- After years of frosty relations between the two countries, Egypt and Iran are set to restore ties with the visit of Iranian tourists to the North African country. According to the Egyptian Minister of Tourism and Antiquities, Ahmed Issa, Iranian tourists will soon travel to the country through...

The Iraqi prime minister said the decision to pay for Iranian gas imports with oil corresponds with the mechanism agreed with the US in order not to violate the sanctions. Gas is crucial for Iraq's electricity generation, but US sanctions on Iranian oil and gas impose restrictions on how Baghdad...

Vienna, Austria-- Looking to ramp up trade and business relations, the United Arab Emirates has signed an air transport services agreement with Austria at the Ministry of Foreign Affairs in the capital, Vienna. The agreement, which aims to strengthen air transport relations between the two countries, was signed on behalf...

Paris, France - The world's wealthiest nations must urgently prepare for the impact of an imminent "AI revolution" that will change jobs, create new ones and make others disappear, the OECD said Tuesday. The rapid development of artificial intelligence -- with tools that can generate essays, create images and even pass...

Threads, billed as the killer of Twitter, a platform that has tumbled into chaos under the leadership of mercurial tycoon Elon Musk, has added more than 100 million users in its first week in app stores.

New York, United States - Wall Street stocks mostly rose early Tuesday amid signs of greater broadening in the equity market beyond technology. Briefing.com analyst Patrick O'Hare pointed to greater momentum for industrials and other "cyclical" sectors tied to economic growth "suggesting that there was a rotation of money within the...

The company will invest through acquisitions and JVs.

The revenue for the period ended May 2023 reached $193m.

Abu Dhabi, UAE -- Abu Dhabi Global Market (ADGM) has issued the ADGM Hotel and Tourism Regulations 2023 (Tourism Regulations), under which the Market will adopt the Abu Dhabi onshore tourism legislation into its legislative framework. The onshore tourism legislation includes the regulations and rules concerning hotels and tourism sectors...

Dubai, UAE--Dubai Investments and E20 Investment have signed a memorandum of understanding (MOU) to develop 3,750 Ha of agricultural land in Angola, harnessing the potential of the country’s agricultural sector for sustainable growth and economic development. E20 Investment, specializes in investing in and operating farms and processing facilities across the...

Manama, Bahrain: Entrepreneurship-themed reality television show ‘Beban’ announces the expansion of its third season to Saudi Arabia, as Hope Ventures, the investment arm of Hope Fund and producer of Beban, partners with Saudi-based GFH Capital. Saudi-based businesses can apply for season 3 online through hopefund.bh/beban by July 23. The expansion...

Ulaanbaatar, Mangolia--The UAE and Mongolia are looking to boost trade and investment cooperation with a focus on the agriculture sector. The two countries held discussions to ramp up collaboration during the visit of Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, to Mongolia. He is leading...

Tel Aviv, Israel - Israel's parliament adopted in a first reading a controversial bill that would limit court powers, in a new offensive to push ahead with a judicial overhaul that has split the nation. The changes, proposed by the hard-right government of Prime Minister Benjamin Netanyahu, have sparked one...

Abu Dhabi, UAE-- Some 5,000 new jobs have been opened up in the healthcare facilities by the Department of Health, Abu Dhabi under its "Tawteen" program for UAE nationals. All healthcare facilities in Abu Dhabi will provide the jobs for UAE nationals by the end of 2025. DoH called on...

The Boston Consulting Group survey found that 58 percent of Middle East employees, managers, and leaders believe that AI will have a positive impact on their work.

Thames Water, which supplies 15 million homes and businesses in London and elsewhere in southern England, has debts of almost £14 billion.

Algiers, Algeria - Algeria's state oil company Sonatrach said on Sunday it had signed contracts to boost gas production under an existing agreement worth about $740 million with French giant TotalEnergies. The companies will increase output from two Sahara desert fields in southeastern Algeria, for export to France and elsewhere in...

GFCF will triple its production after setting up its Phase II in Musasafah.

There will be a process to select the best proposal.

The company witnessed a 186 percent increase in sales.

Abu Dhabi, UAE -- NEOPLY, a South Korean blockchain technology company, will establish its global headquarters in Abu Dhabi, the Abu Dhabi Investment Office (ADIO) said Monday and added that the move underscores emirate's appeal as a magnet for innovation-driven companies. NEOPLY provides a decentralized finance (DeFi) platform and a...

QNB set aside $1.3 billion as provision for loan losses.

An increase in borrowing costs hurt the company in H1.

ABU DHABI, UAE - The UAE ranked seventh in the world in terms of per capita national income, according to the latest data released by the World Bank. The per capita income in the UAE, based on purchasing power parity (PPP) in current international dollars, rose to Int$87,729 in July...

Funds will be used to finance working capital for projects.

A TRENDS exclusive report takes a hard look at how tens of thousands of white-collar workers in Middle East are falling victim to burnout brought about by workplace stress.

QE will supply up to 120m barrels of condensates to ENOC from Jul.

Threads went live on Apple and Android app stores in 100 countries late on Wednesday, though it is not available in Europe because parent company Meta is unsure how to navigate the European Union's data privacy legislation. Twitter, Threads rival, is thought to have around 200 million regular users but...

A TRENDS exclusive report takes a hard look at how tens of thousands of white-collar workers in Middle East are falling victim to burnout brought about by workplace stress.

Dubai, UAE-- Dubai's Roads and Transport Authority (RTA) has reported a 10 percent increase in revenues for 2022 to $953 million from its digital channels. The company has also recorded 814 million digital transactions up from 676 million in 2021, a 20 percent growth rate. The company also reported a...