Sideup

Egypt’s Sideup raises $1.2m to grow its e-commerce platform

The startup will launch Saudi Arabia operations with investment in a new office and local hiring

Construction

Building and construction show Big 5 opens in Dubai today

Global players, startups, digital disruptors, investors, ESG advisors, and policy makers will gather for the four-day event at Dubai World Trade Centre

Dubai Future Labs signs three agreements

Dubai Future Labs signs three agreements to drive innovation in aviation, logistics

The agreements seek to drive adoption of advanced robotics and automation technologies in key economic sectors

Saudi

Saudi Aramco refiner Luberef’s IPO to raise up to $1.32bn

Luberef becomes the latest billion-dollar plus IPO in the Gulf

OPEC+ pauses as volatility, China Covid rules roil crude markets

The decision by the Organization of Petroleum Exporting Countries and its allies should hold for at least a few months

UAE, Japan to sign MoU on establishing joint business council

The formation of the council is aimed at developing joint projects and exchange expertise

RODRIGO RODRIGUEZ _Takeda

How public-private partnerships can power the next phase of the UAE healthcare sector

A world-class healthcare sector requires that all players collaborate wherever synergies are found and leverage one another’s strengths to meet the challenges of tomorrow

Remittances rise by 5%, reveals world bank report

Remittances see 5% rise in 2022, reveals World Bank report

Remittances to the developing countries of the MENA region are estimated to have grown 2.5 per cent in 2022 to $63bn, compared to a 10.5 per cent growth last year

Jindal Shadeed Group to Invest USD 3 billion; agreement signed to Reserve Land to Produce Green Steel at Duqm

Jindal Shadeed Group to invest $3bn in green steel manufacturing facility in Oman

Slated to be the largest of its kind within the zone to produce green steel, the facility will also utilise renewable energy sources in its manufacturing operations

World's Coolest Winter Campaign_ WAM

Sheikh Mohammed launches third ‘World’s Coolest Winter’ campaign

In its second edition last year, the campaign generated Dhs1.5bn in revenue, with the number of local tourists increasing to more than 1.3 million

Kuwait

Kuwait says oil buyers don’t want to boost imports next year

The OPEC member exports about 2 million barrels a day of crude, most of it to Asian countries such as China, South Korea, Japan and India

Sustainable transportation is going to be integral to cities down the road

With the rate of urbanisation ramping up, the demand for more sustainable and carbon-neutral options for mobility is also increasing

Qatar executives bullish on growth

Qatar executives optimistic about future economic growth, reveals EY report

Qatar’s tourism, hospitality, and real estate sectors show the most promise to drive growth

Dubai fitness challenge 2022_photo courtesy WAM

Dubai Fitness Challenge 2022 sees participation of over 2.2 million people

The seventh edition of the Dubai Fitness Challenge will take place between October 28 and November 26 next year

Zero

The tools to support net zero are already here – let’s use them

From carbon measurement to hyper efficient value chains, digital solutions can enable industrial firms to simultaneously boost productivity and decarbonise

Saudi Arabia launches three initiatives to boost climate action

Saudi Arabia weighs World Cup 2030 bid with Egypt, Greece

A Saudi bid to host the World Cup would add to the list of sporting events the world’s largest oil exporter is hosting

Saudi’s Public Investment Fund launches Aseer Investment Company

The new investment arm will attract local and foreign direct investment to develop the Aseer region

New banknote pic WAM

CBUAE issues new Dhs1,000 banknote

The CBUAE is the first in the region to issue the largest multi-coloured Kinegram surface applied foil stripe in the new banknote issue

Fujairah AIport unveils new runway

Fujairah Airport unveils new runway

The new runway has a length of 3,050 metres and a width of 45 metres

sustainability CEOs

Top 5 reasons why CEOs should be the ‘force’ driving sustainability

To support climate action, businesses need to take a deep look at how their enterprise operates and where the potential and challenges are with the processes

UAE President issues order to give Dhs3bn in housing loans to Abu Dhabi citizens

UAE President orders disbursement of housing loans worth Dhs3bn to citizens in Abu Dhabi

The package will benefit 1,900 citizens in the emirate

PIF subsidiary, ACWA Power to develop MENA’s largest solar plant in Saudi Arabia

The 2,060MW solar plant is set to be developed in Saudi Arabia’s Makkah province

semiconductor

Worldwide semiconductor revenue to decline 3.6% in 2023: Gartner

The revenue is forecast to total $596bn in 2023, down from the previous forecast of $623bn

Oil

Oil poised for weekly gain with China softening virus curbs

West Texas Intermediate traded above $81 a barrel after a run of four daily gains

Quest esports

Quest Esports opens gaming district in Doha

Last year, the Doha-headquartered company managed five large LAN tournaments and online league matches for games such as Fortnite, CS: GO, PUBG Mobile, Dota 2 and FIFA

Rise report 2022

Covid-19 recovery efforts triggered new energy access policies, reveals new World Bank report

Many governments improved their electricity access policies, with Sub-Saharan Africa and Latin America and the Caribbean scoring the highest on this indicator

Oracle

Oracle, stc announce business partnership

The announcement came after Oracle’s CEO Safra A. Catz visited stc’s headquarters

Solar

Dutch startup begins production of world’s first solar car

Its first model, the Lightyear 0, comes with a price tag of EUR250,000 and has already collected around 150 pre-orders

Agthia completes acquisition of majority stake in Auf Group

Agthia completes acquisition of majority stake in Egypt’s Auf Group

Agthia has acquired 60 per cent of the Auf Group, with the Egyptian company’s founders retaining a 30 per cent stake

Land

Insights: Debate on virtual land

The concept of virtual land has been polarising for various reasons