Gitex Global 2022 generates Dhs 2.6bn total economic output

Gitex Global 2022 generates Dhs2.6bn total economic output

The tech show attracted more than 170,000 attendees, 40 per cent of which were international

Abdul Latif Jameel Energy’s FRV to power 400,000 homes in Brazil via new solar farm

The project will contribute to the diversification of the local economy and will be a source of investment for the region

Fawaz Alhokair Group, Arabian centres and Alhokair fashion announce rebranding

Fawaz Alhokair Group, Arabian centres announce rebranding

The full rebrand brings together all operating companies under the Cenomi brand

New launch date for Emirates Lunar Mission announced

New launch date for Emirates Lunar Mission announced

Upon landing, the Rashid rover will explore the characteristics of the lunar soil

Africa

AD Ports Group, Africa Finance Corporation ink deal

The two organisations aim on identifying, developing and investing in ports, warehouses, maritime and logistics infrastructure projects across Africa

DIFC-based fintech firms net $559m in funding during Jan-Sep 2022

DIFC-based fintech firms net $559m in funding during Jan-Sep 2022

DIFC’s fintech accelerator programme has attracted more than 3,000 applications from all over the world

Apple

Apple scales back self-driving car and delays debut till 2026

The company is now planning a less-ambitious design that will include a steering wheel and pedals and only support full autonomous capabilities on highways

Etihad Cargo introduces Shanghai-Chennai direct route

Etihad Cargo introduces Shanghai-Chennai direct route

From December 8, Etihad Cargo will offer twice weekly freighter service between Shanghai and Chennai

Markets

Oil steadies after three-day drop as demand concerns multiply

West Texas Intermediate held above $74 a barrel after futures sank almost 9 per cent in the prior three sessions to erase the year’s gains

Morocco ousts Spain, books spot in World Cup quarter-finals

Morocco ousts Spain, books spot in World Cup quarter-finals

Morocco beat 2010 World Cup champions Spain 3-0 on penalties

Intel

Intel says it’s on course to regain chip production leadership

Intel is currently mass producing 7-nanometre chips and is ready to start manufacturing 4-nanometre semiconductors

Dubai Tabby

Two malls in Dubai introduce buy-now-pay-later option

Al-Futtaim Malls have partnered with Tabby to offer BNPL services at Dubai Festival City Mall and Festival Plaza, Jebel Ali

Mubadala's head of UAE investments platform to join ADNOC

Head of UAE investments platform at Mubadala to join ADNOC

Mubadala’s deputy CEO, Waleed Al Mokarrab Al Muhairi, will serve as interim chief executive of the UAE investments platform

Ajman

Ajman Bank signs strategic partnership with KMMRCE Pay

The partnership equips Ajman Bank with the technology to accelerate its digital transformation and enrich its client offering by adding new payment services

Bosch

Bosch introduces new digital transformation solution in the Middle East

The solution harvests data to predict and assess outcomes, respond to changes and improve operations, helping customers to manage and simplify complex automation

Mohre

UAE: MoHRE launches automated system for employment contracts

In the first two days of the launch, more than 35,000 contracts have been completed

AD Ports Group announces merger of KEZAD communities with Al Eskan Al Jamae

The combined entity will have an equity value of approximately Dhs 7bn, positioning it as one of the largest such businesses in the UAE

UAE, Ukraine announce intent to negotiate comprehensive economic partnership agreement

UAE, Ukraine to begin negotiations towards comprehensive economic partnership agreement

In 2021, non-oil trade between the UAE and Ukraine reached $904.4m, increasing 28.4 per cent over the previous year

Indonesia

Here’s what we know so far about Indonesia’s digital rupiah

Indonesia is setting out its plans for the digital rupiah, a blockchain-based currency, starting with transactions between local banks

UAE Space Agency signs MoU with Philippine counterpart to enhance cooperation

UAE Space Agency signs MoU with Philippines counterpart to enhance cooperation

The MoU enables exchange of space data to support various fields of common interest such as climate change, disaster management, emergency response, food security and agriculture

NMC Healthcare appoints David Hadley as chief executive officer

Hadley will assume day-to-day leadership of the group in early 2023

Bitcoin

Bitcoin’s bearish futures are signalling a slowdown into 2023

Bitcoin’s price has dropped 64 per cent since the beginning of the year

Gold

Gold climbs to four-month high as reopening bets weaken dollar

Gold tends to have a negative correlation with the dollar and rates as it does not bear interest and is priced in the US currency

Abu Dhabi's ADNOC, Malaysia's Petronas sign unconventional oil concession agreement

Abu Dhabi’s ADNOC, Malaysia’s Petronas sign unconventional oil concession agreement

The award marks the first time a Malaysian company will explore for hydrocarbons in Abu Dhabi

Property Finder Awards 2022: Honouring excellence, rewarding quality

The awards recognised and celebrated top performers from UAE’s leading brokerage agencies and real estate developers

Saudi’s NEOM unveils first luxury island development

Sindalah will feature a 86-berth marina, while offshore buoys will house superyachts

Emirates adds third daily A380 service to London Gatwick

Emirates adds third daily A380 service to London Gatwick

Emirates currently serves the UK with 119 weekly flights across seven hubs

RTA partners with ADNOC, Almutakamela to develop 3 truck rest stops

RTA partners with ADNOC, Almutakamela to develop 3 truck rest stops

The Truck Rest Stops will be constructed over a total area of more than 226,000 square metres with a capacity to accommodate about 500 trucks and heavy vehicles

Emirates' A380 touches down in Auckland for first time since Feb 2020

Emirates’ A380 touches down in Auckland for first time since Feb 2020

The Dubai-based airline has been flying to New Zealand for 19 years

Saudi Exchange Tadawul

Saudi Exchange launches market-making framework for equity and derivatives markets

This step further enhances the Saudi Exchange’s appeal as an investment destination for investors and issuers, regionally and internationally