Business GCC UAE

Dubai Chambers Inaugurates Sydney Office, Signs Trade-boosting MoU

News Desk 2 11/05/2023

Dubai, UAE – Today saw a double announcement at Dubai Chambers – firstly, the opening of a new international office in Sydney, Australia by Dubai International Chamber, one of the three chambers operating under Dubai Chambers, and the signing of a Memorandum of Understanding between Dubai

Business

POCO dazzles tech fans with the latest F-series flagship products

Middle East News 247 11/05/2023

Dubai, United Arab Emirates — POCO, a popular technology brand among young tech enthusiasts, unveiled the F5 series of mobile devices specially designed for gaming geeks, photography enthusiasts, and tech lovers. In the last five years, POCO has developed and delivered what fans want through technological exploration and refinement. The flagship line now includes two […]

Business

MobiKwik Records a Profitable Q4 FY 2022-23; Revenue for FY 2022-23 Grows to USD 68.3 Million

Middle East News 247 11/05/2023

GURUGRAM, Haryana, India — MobiKwik, a digital banking platform, has announced that it ended FY 2022-23 with USD 68.3 million in revenue and became profitable from Q4 FY 2022-23. Its contribution margin rose to USD 20.7 million as compared to USD 5.1 million in FY 2021-22, nearly 304% Y-o-Y growth. 50% of MobiKwik’s revenue came […]

Business

Arab world aims for prime segments of Brazilian retail at Apas Show 2023

News Desk 2 11/05/2023

May 11, 2023- Arab companies brought by the Arab Brazilian Chamber of Commerce (ABCC) to the Apas Show, for the last five years, will have a more diverse profile this year than last. The largest food and beverage trade show in Latin America and the world’s largest supermarket event will be held from May 15 […]

Business GCC Saudi Arabia

Ash & Maple Management Partners with LocalEyes, Strengthening Middle East Presence and Enhancing Local Content & Economic Offset Consulting in Saudi Arabia

Middle East News 247 11/05/2023

Riyadh, Saudi Arabia, 10 May 2023 — Ash & Maple Management (A&M), a leading global management consulting firm, is delighted to announce its strategic alliance with LocalEyes, a distinguished Local Content and Economic Participation consulting firm headquartered in Riyadh, Saudi Arabia. A&M, a Zurich-based global management consulting firm, addresses

Business

Recursion Enters into Agreements to Acquire Cyclica and Valence to Bolster Chemistry and Generative AI Capabilities

Middle East News 247 10/05/2023

SALT LAKE CITY and TORONTO and MONTRÉAL — Recursion (NASDAQ: RXRX), a leading clinical stage TechBio company decoding biology to industrialize drug discovery, today announced it has signed agreements to acquire two companies in the AI-enabled drug discovery space: Cyclica and Valence. “Recursion has pioneered the massive, parallel generation of -omics

Business

Hotpack to initiate Industry 4.0 transformation for its 15 manufacturing plants

News Desk 2 10/05/2023

DUBAI – May 10, 2023: Hotpack, the UAE-based global leader in disposable packaging products manufacturing, has signed an agreement with Maxbyte, an industrial digital, robotics, and training solutions provider to digitize all 15 of its factories in the UAE and other countries. With the contract, Maxbyte will work as a strategic partner to help Hotpack […]

Business

SEVEN signs second licensed agreement with Hasbro

News Desk 2 10/05/2023

Riyadh, Saudi Arabia; May 10, 2023: Saudi Entertainment Ventures (SEVEN), a wholly owned subsidiary of the Public Investment Fund (PIF), has signed a second licensed agreement with Hasbro, Inc. a global branded entertainment leader. Under the agreement, SEVEN will bring the Transformers brand to its entertainment destinations in the Kingdom of Saudi Arabia. The agreement

Business

Emirates Development Bank reveals commitment to financing UAE renewables sector

News Desk 2 10/05/2023

Abu Dhabi, United Arab Emirates, 10 May 2023: Emirates Development Bank (“EDB” or “the Bank”), a key financial engine of the UAE’s economic development and industrial advancement, underlined its commitment to the UAE’s sustainable development agenda and to support the UAE’s Strategic Net Zero by 2050 Initiative after adding ‘Renewables’ to its

Business

FOREX.com Analysts Remain Cautiously Optimistic

News Desk 2 10/05/2023

Dubai, 10 May 2023– There’s no doubt that 2023 has been lively so far. Equity and commodity traders were quick to rejoice on news of China’s reopening in early January, whilst Yen traders were treated to an out-of-meeting policy adjustment which gave currency markets a jolt. And whilst geopolitical tensions have somewhat receded, they have […]

Real Estate Business

Eshraq Investments reports Q1 2023 financial results

News Desk 2 10/05/2023

Abu Dhabi, UAE; 10 May 2023: Eshraq Investments PJSC (“Eshraq” or “Company”), listed on the Abu Dhabi Securities Exchange (“ADX”), has announced its Q1 2023 financial results. The Company recorded a gross profit of AED 8.3 million for the first quarter of 2023 as compared to a gross profit of AED 7.9 million for the […]

Business

EssilorLuxottica and Chalhoub Group sign joint venture agreement to grow retail eyewear presence in GCC region

News Desk 2 10/05/2023

Charenton-le-Pont, France and Dubai, UAE, 10 May 2023 – EssilorLuxottica, a global leader in the design, manufacture and distribution of ophthalmic lenses, frames and sunglasses,and Chalhoub Group, signed a joint-venture for the development of direct eyewear retail in the GCC region. The agreement aims to shape the eyewear category and achieve new levels of customer

Business

Emirates Steel Arkan Profit Doubles Year-on-Year

News Desk 2 10/05/2023

Abu Dhabi, United Arab Emirates, 10 May 2023: Emirates Steel Arkan (ADX: EMSTEEL) (“the Group”), the largest publicly traded steel and building materials company in the UAE, announces its growth in revenues and profits for Q1 2023. The strong performance in Q1 2023 was driven by several factors, including increased volumes from the Steel division, […]

Business

Annual Investment Meeting launch Arab China Unicorn Investment Conclave

News Desk 2 09/05/2023

Abu Dhabi, UAE, 9 May 2023:  The 12th edition of The Annual Investment Meeting (AIM) hosted the China Top 50 Unicorns. The event took place at the Innovation and Technology Track located at the Abu Dhabi National Exhibition Centre, and brought together investors, startups, and innovators from the UAE and China. The forum marked an […]

Business

Vivacom Extends Partnership with Netcracker for Revenue Management for B2C and B2B Customers

Middle East News 247 09/05/2023

WALTHAM, Mass. — Netcracker Technology announced today that Vivacom, an affiliate of United Group, will consolidate on Netcracker Revenue Management, part of the Netcracker Digital BSS product suite, across postpaid mobile and fixed lines of business for all B2C and B2B customers. Vivacom, Bulgaria’s leading telecommunications service provider, was the

Business

Emirates NBD to collaborate with DIFC to advance shared goal of supporting the Dubai Economic Agenda D33

News Desk 2 09/05/2023

Dubai, UAE, 09 May 2023: Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region and the Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, have signed a Letter of Intent, which will aim to drive the […]

Business GCC UAE

Intuit QuickBooks Launches QuickBooks Online Accountant in More Than 170 Countries Around the World, Including United Arab Emirates

Middle East News 247 09/05/2023

DUBAI, United Arab Emirates — Intuit QuickBooks today announces global free access to QuickBooks Online Accountant (QBOA), enabling accounting professionals in 170 countries to move to the cloud faster, scale their practices and bring more value to their clients and the wider economy. Accounting professionals make a huge contribution to the economy at a

Business

Ministry of Economy and Association of Certified Anti-Money Laundering Specialists

News Desk 2 08/05/2023

Abu Dhabi, 8 May 2023:  As part of its endeavors to support the UAE’s efforts to raise awareness on the culture of compliance within the business community and to tackle money laundering crimes and combat the financing of terrorism, the Ministry of Economy (MoE) signed a partnership agreement with the Association of Certified Anti-Money Laundering […]

Business GCC UAE

UAE and Vietnam discuss strengthening of economic cooperation

News Desk 2 08/05/2023

Abu Dhabi, 8 May 2023: H.E. Abdullah bin Touq Al Marri, Minister of Economy, held a meeting with H.E. Vo Thi Anh Xuan, Vietnamese Vice President, to discuss the strengthening of economic partnership between the two countries by boosting trade and investment exchanges. The meeting was attended by H.E. Khalid Muhammad Balama, Governor of UAE […]

Business GCC Saudi Arabia

Saudi Arabia’s AI powerhouse, Mozn announces GCC expansion as it launches into the UAE 

News Desk 2 08/05/2023

08 May 2023, Dubai, United Arab Emirates – Saudi Arabia’s Mozn, a market leader in enterprise artificial-intelligence technologies, today announced a regional expansion that will take the company into the thriving AI, finance and fintech markets of the United Arab Emirates and the GCC. The announcement came at the Dubai Fintech Summit, held at Madinat […]