To forestall the crippling effects of climate change, Saudi Arabia and the UAE have put on track projects worth billions of dollars to significantly lower emissions.

The UAE is the highest ranked in the region, and the fourth country globally, in terms of overall global connectedness.

The launch of the tool is in line with the emirate’s new target to boost its foreign trade from around $380 billion to around $545 billion over the next five years.

The project will save energy while creating a sustainable and clean manufacturing process, says TAQA.

The hospitality industry has been the worst hit by the Covid pandemic, but there are signs that suggest a recovery of sorts is underway in the sector.

Audi Middle East has posted a 37% increase in sales in the first half of 2021.

The government will work with the private sector, including local and international investors, to achieve the goal The kingdom is open to discussions with heavyweights like Amazon, Google, and other players willing to invest in the kingdom Saudi Arabia is looking to transform the kingdom into the main data center...

HSBC has sanctioned a loan of $81.67 million to Aldar Properties that has its interest linked to achievement of sustainability targets This reportedly made Aldar the first real-estate company in the Middle East and North Africa region to get such a loan   Global lender HSBC has sanctioned a loan...

The company will invest in the UK, Europe, the MENA region, South Asia, North America Sharia-compliant investment industry is available across 80 countries but remains relatively new in Western markets Ethos Invest, the UK-based firm, seeks to raise $1.38 billion through a new Shariah-compliant fund, and become the world’s largest...

Growth in digitalization has led to an increased risk of cybercrime Risk and compliance practices may fall short of global standards More than half of the Middle East and North African (MENA) businesses face new financial crime risk challenges triggered by the pandemic, a new report by global data provider...

Amazon's Climate Pledge aims to achieve net-zero across its businesses by 2040 The projects are expected to come up Saudi Arabia, UAE, and Egypt The Middle East and North Africa region will see a number of sustainable projects being launched by global eCommerce giant Amazon as part of its Climate...

25 percent say that a data breach poses the most significant risk to business operations Refinitiv expert says deploying advanced technologies will be key to tackling financial crime     Covid-19 pandemic has given rise to new financial risk challenges in the Middle East and North Africa (MENA) region, according...

Partnership, which began in 2016, extended till 2027 BCT will continue to handle TIBCO requirements for all local customers in the MENA region and India BahwanCyberTek (BCT), a global provider of digital transformation solutions, and TIBCO Software, a global leader in enterprise data, have announced the extension of their partnership...

Revenues from cinema in the Mena region is expected to defy global trends and hit $1 billion by 2024  Box office revenues in the Mena region are expected to grow by 4% in the aforementioned period, compared to a 2.4% decline worldwide Revenues from cinema in the Middle East and...

Entire DDEC business and inventory will be fully integrated and absorbed into Proserv’s Middle East-based service operation Proserv has multiple sites in the MENA region, including in Abu Dhabi, Dubai, Doha and Dammam   Controls technology company Proserv Controls has announced the acquisition of the trade and assets of Dron...

The UAE maintains its position as the US' largest trading partner in the MENA region for the 12th year in a row The UAE and US  partnered to form the Economic Policy Dialogue in 2012 The  US and the  UAE  have reaffirmed their desire to expand engagement and pursue new...

  Saudi Arabia dominates startup investment sector during May In all nearly $110 million was raised across 35 deals over the month Saudi Arabia has topped the startup investment market in the Middle East and North Africa (MENA) region during May, Arab News quoted from figures released by entrepreneurship platform...

UAE government initiatives for promoting skills-based economy have a positive impact on the economy More women enroll for Science, Technology, Engineering and Mathematics (STEM) courses    UAE ranks first in the MENA region and second globally in overall business skills, only after Luxemburg, said Coursera's Global Skills Report 2021.  ...

The Public Investment Fund (PIF), led by Governor Yasir al-Rumayyan, is at the heart of Saudi Arabia's plans to transform the economy The fund is expected to inject $40 billion annually into the local economy, and increase its assets to $1 trillion by 2025   Saudi Arabia's Public Investment Fund...

CEO DP World-UAE Region Abdullah Bin Damithan calls Dubai gateway for Chinese exporters Opportunities for Chinese companies in the MENA region discussed at Webinar hosted jointly with Chinese Business Council   Dubai Ports World, UAE Region, has said it will support and partner with Chinese companies to boost trade between...

M2P Solutions works with over 500 fintechs across Asia, Middle East It has also partnered with over 30 banks in different countries to deliver on the API capabilities     M2P Solutions, the API Infrastructure company that started operations in the Middle East earlier this year with Abu Dhabi as...

Opontia said it will use the funds to acquire exceptional e-commerce brands and to invest in a team of experienced e-commerce experts who will be responsible for managing and growing brands after acquisition

  The combined entity will turn it into a $100m technology solutions company Kalaam will be among the top three ISPs in the GCC and the only operator with an ISP license for Bahrain, Kuwait and Saudi Arabia     Kalaam Telecom, Bahrain's leading technology solutions provider, has announced the...

Olive Gaea calculates the carbon footprint of any individual or business through a simple yet science-based questionnaire

Digitally-enabled experiences and services to evolve customer expectations  Full recovery of the industry expected by 2025 as post-pandemic confidence grows across MENA While experts in the automotive market believe a full recovery could take up to four years, many market analysts and industry leaders have already seen green shoots, spurred...

Saudi Arabia received $10.4 billion in investment  FDI projects in the kingdom fell by 49 percent to 73  Amid all the doom and gloom brought on by the outbreak of coronavirus that badly hit the economies around the world, Saudi Arabia received a big boost to its economy last year...

Oil-producing countries will post positive growth, while economies dependent on tourism will struggle to stay afloat  IMF report says curbing the coronavirus and rolling out vaccination could uplift the economies The International Monetary Fund (IMF) has forecast a turnaround for some economies in the Middle East and North Africa (MENA)...

It is an important milestone of the energy transformation, says Siemens official The project is a collaboration between Siemens, Dubai Electricity and Water Authority and Expo 2020 Dubai The Middle East and North Africa region saw its first green-hydrogen project unveiled in Dubai on Thursday, May 20. The project, implemented...

69 of the 82 countries tracked by CEIC data see the lending rates fall Saudi Arabia, UAE witness rise in rates by 0.8 and 0.3 bps Benchmark lending rates — the basic rates set by central banks in countries for banking institutions to follow — rose at a much slower...

Algeria continues to face important challenges posed by the fall in oil prices four years ago. Despite a sizeable fiscal consolidation in 2017, the fiscal and current account deficits remain large. Real Gross Domestic Product (GDP) growth slowed sharply, mainly driven by a contraction in hydrocarbon production, although growth in...

The Tunisian economy has showed signs of recovery in the first quarter of 2018, with the highest growth since 2014 supported by agriculture and exports. Besides due to the more flexible exchange rates, the current account deficit has also improved to some extent. However, at the same time, risks to...

In its economic diversification strategy, the Algerian government gives the industrial sector a very high priority, particularly with regard to the mining industry. According to the figures released by the National Agency of Investment Development (ANDI), the overall industrial domain benefited from 88.32 percent of the domestic and foreign investment...

For Slim Riahi, the fall of 2017 is gradually turning into a nightmare. It’s clearly his black autumn. Coming under the scrutiny of law enforcement agencies for more than six months, the business tycoon is slowly withdrawing from public life and isolating himself — probably against his will. At the...

The Algerian pharmaceutical sector, which depended upon massive imports to fulfill medical supply needs, is now on a path of rapid and positive progression. With an aim of improving the local medicine and medical supply needs, and to acquire scientific, technological and technical know-how, Algeria is working on important partnerships...

TRENDS speaks to Mamoun Hmedan, Managing Director for MENA and India, Wego, about the major trends that will rule the tourism sector in 2018 and how technology has changed the way industry works. How has the year 2017 been for the tourism sector? The MENA region stood out for a...

2017 was exceptional on many fronts for the region’s largest and most diversified derivatives bourse, Dubai Gold and Commodities Exchange (DGCX). Throughout 2017, DGCX recorded new trading highs, launched unique and innovative products and product-related initiatives, grew its strategic partnerships, received regulatory recognitions and industry plaudits too. Balanced blend of...