S&P Global, Moody’s raise Saudi Arabia rating on reform agenda

Fitch Ratings, one of the big three rating agencies, assigns Saudi Arabia the same score as S&P Global while Moody’s has it one level higher

Middle East and tackling food security

Here’s how the Middle East can feed the world sustainably

GCC countries could produce food cheaply from bioreactors because their renewable energy costs can be lower than the global average

dnata handles over 82million bag sat DXB in 2022

dnata handled 82 million bags at DXB in 2022, here’s how…

The company handles luggage for over 100 airlines and millions of passengers travelling to 253 destinations from Dubai International Airport

AD Ports Group Egypt Photo WAM

AD Ports Group inks 30-year deal to develop, operate port in Egypt

AD Ports Group will invest up to $200m in superstructure and equipment, buildings, and other real estate facilities and utilities’ network inside the concession area

Will 2023 be the year of drone deliveries in the region?

Will 2023 be the year of drone deliveries in the region?

Airborne deliveries allow for improved access to essential services such as healthcare and basic supplies

Expo City Dubai Duet Villas Valley View

Sales for two Expo City Dubai residential communities now open

The Devmark Group is the exclusive sales and marketing partner for Expo City Dubai’s residential offerings

Bahrain

Why Bahrain remains a key player in GCC’s financial sector

The kingdom has built a financial services sector comprising more than 360 local, regional and global institutions

Who are OpenAI's strongest competitors?

Who are OpenAI’s strongest competitors?

We look at some of the most significant companies in the running to be the next big AI success story

brain

When was the last time you tested your brain?

Despite decades of research, much about the brain remains a mystery, and ongoing studies continue to shed light on the intricacies of this organ

Plant-based meat

Dubai opens 100% plant-based meat factory

Dubai Industrial City will be home to IFFCO’s Thryve factory, which is catalysing the move towards a healthier food supply chain

Women in tech

Women in tech: Ekaterina Kochmar, assistant professor at MBZUAI

The best thing about being a woman in STEM is that you can contribute with a different perspective

Presight AI IPO oversubcribed

Presight AI’s $496m IPO attracts $25.8bn in orders

The IPO is Abu Dhabi Securities Exchange’s second listing this year and it was oversubscribed by 136 times

Consumers spend more in Malls in 2022 167896190

Revealed: Here’s what consumers in the UAE spent their money on in 2022

Majid Al Futtaim’s latest ‘State of the UAE Retail Economy’ Q4 report, revealed that e-commerce sales continued their strong upward trajectory, more than doubling to $6bn in 2022 from $2.6bn in 2019

Meta

Meta starts next round of layoffs with 1,500 jobs in recruiting, HR

The first wave of cuts were explained to Meta executives Thursday morning

Hoko Agency

Hoko Agency, Alfa Romeo F1 Team Stake form new partnership

Hoko Agency announces plans to launch new Saudi Arabia office this year

PWC

PwC introduces AI chatbot for 4,000 lawyers to speed up work

The project will be delivered through a 12-month partnership with AI startup Harvey

Tamara, Goldman Sachs

Goldman Sachs backs BNPL startup Tamara with $150m facility

The facility will help finance the growing demand for bringing the buy now, pay later products in the GCC while continuing its growth across new verticals

ADNOC Distribution fuel pumps

Shareholders of ADNOC Distribution approve $700m dividend

The company’s full-year net profit surged by 22 per cent year-on-year to Dhs2.74bn while its revenues rose by 54 per cent to Dhs32bn

NorthLadder

NorthLadder launches second-hand marketplace in Saudi Arabia

Residents in Riyadh and Jeddah can now use the marketplace to sell their used laptops, mobile phones, tablets and smartwatches

UAE and South Korea trade

UAE to invest $30bn in South Korea over the next few years

The two countries agreed to enhance joint efforts to implement the MoU that was signed recently

Alfa Romeo F1 Team

Alfa Romeo F1 Team looks to expand presence in Everdome

The ongoing partnership will see the Everdome team creating multiple VR experience activations

Emirates new signature livery

Dubai’s Emirates reveals new signature livery and here’s why it ‘pops’

Passengers onboard an Emirates aircraft with a window view will see the UAE flag colours painted on the wingtips facing the fuselage

DP World port operations

Ports operator DP World’s revenues surge to $17.1m in 2022

The logistics firm said the broadening of strategic partnerships and monetisations of its assets in 2022 strengthened its balance sheet

Al Ansari Financial Services Group CEO, Deputy Group CEO and Group CFO

Al Ansari Financial Services IPO: subscription starts, share price announced

The IPO subscription period will run until March 23 for the UAE retail offering and March 24 for the qualified investor offering

RedSea and Saudi Downtown Company sign MoU

PIF-owned Saudi Downtown Company, RedSea to work together

The new partnership, underscored by an MoU, aims to build and operate RedSea greenhouses at SDC locations

central banks of UAE and India sign MoU

Central banks of UAE, India sign agreement to boost collaboration

The MoU will enable joint experimentation with regard to CBDCs and facilitate other digital innovation initiatives between the central banks

Kuwait’s Zain Group posts $640m full-year profit

The board of directors proposed a cash dividend of 25 fils per share for H2 2022, following a semi-annual dividend of 10 fils earlier last year

Evo platform

Stay ahead of the game with ASUS’ Intel Evo-powered laptops

The Intel Evo platform is made up of laptops that meet certain standards based on usability in real world situations

OpenAI

ChatGPT creator OpenAI debuts new GPT-4 AI system

The new version will be available to OpenAI’s paid ChatGPT Plus subscribers

ByteDance

Abu Dhabi’s G42 buys ByteDance stake at $220bn valuation

G42 acquired a $100m-plus stake from existing investors in recent months through its 42XFund, Bloomberg reported