Business

Global gold demand peaks in 2023 despite challenges

Arnold Pinto 02/02/2024

Geopolitical uncertainty may drive up gold interest in 2024 The World Gold Council’s latest Gold Demand Trends report reveals that global gold demand reached a new annual record in 2023, hitting 4,899 tons when factoring in over-the-counter (OTC) markets and other sources. The report,

Events Business

Venice to host seaplanes and amphibious aviation conference

PR News Desk 31/01/2024

Event for amphibious and seaplane sector professionals The Future Opportunities for Seaplanes and Amphibious Aviation (FOSAA) conference makes its debut in Venice, Italy, on March 20, 2024. Organised by Quaynote Communications, the first-of-a-kind event in conjunction with Arena Group Associates will provide a dedicated platform for the amphibious and seaplane industry to

Business GCC Saudi Arabia Sport Sustainability

Saudi PIF signs Electric 360 pact to boost electric motorsports

Arnold Pinto 31/01/2024

PIF also reveals its refreshed brand identity Saudi Arabia’s Public Investment Fund (PIF) has unveiled a transformative multi-year partnership, Electric 360, with Formula E, Extreme E, and E1 powerboat racing, intending to advance the global landscape of electric motorsports. The Electric 360 initiative aims to propel the growth of electric motorsports and revolutionise

Business GCC Retail UAE

YouGotaGift partners with Carrefour UAE for HappyYou gift cards

Arnold Pinto 30/01/2024

HappyYou card is the sole multi-brand gift card in MENA YouGotaGift, the platform of digital multi-brand gift cards in the Middle East, has joined forces with Carrefour, exclusively operated by Majid Al Futtaim in the UAE, to bring its unique ‘phygital’ HappyYou Gift Cards to all Carrefour outlets across the UAE. This strategic partnership underscores […]

Business GCC Retail

Oliver Wyman consolidates its RCG practice in India, ME and Africa

Arnold Pinto 27/01/2024

87% of GCC customers are adopting an omnichannel approach Global management consulting firm Oliver Wyman, a business under Marsh McLennan, has strengthened its Retail & Consumer Goods (RCG) practice in India, the Middle East, and Africa region by combining the company’s global expertise in transformation, development of retail solutions, and more with extensive local

Defence & Security Business

NATO signs artillery ammunition contracts worth $1.2 billion

Arnold Pinto 26/01/2024

Against the backdrop of Russia’s war in Ukraine NATO Secretary General Jens Stoltenberg and General Manager of the NATO Support and Procurement Agency (NSPA) Stacy Cummings signed contracts to purchase around 220,000 155-millimetre artillery shells worth $1.2 billion. In his address at the signing ceremony at NATO headquarters in Brussels, Belgium, on January 23, 2024,

Automotive Business

Rising demand gets Ford to hire 900 at Michigan Assembly Plant

PR News Desk 25/01/2024

Bronco and Bronco Raptor lead demand surge In a strategic move to address surging demand for their popular Bronco and Bronco Raptor models, along with the highly anticipated Ranger and Ranger Raptor, Ford Motor Company has revealed plans to create 900 new jobs at its Michigan Assembly Plant in Wayne, New Jersey, United States. The […]

Banking Business GCC

Saxo’s mega fees’ reduction of enormous benefit to investors

PR News Desk 23/01/2024

Danish bank crosses a million clients globally Saxo Bank – the online trading platform that connects investors and traders to global financial markets – has significantly reduced its fees in some of its main markets, with a worldwide rollout scheduled for the coming months. The Copenhagen-headquartered bank’s new move aims to incentivise its global and […]

Tech Business Interviews

Milestone Systems prioritises ‘technology for good’

Arnold Pinto 22/01/2024

Danish firm showcases advanced innovations at Intersec 2024 in Dubai Milestone Systems, headquartered in Denmark, is a global leader in open-platform video management software. Founded in 1998, the company has consistently pioneered innovative solutions for surveillance and security, empowering organisations across the globe to manage and analyse video data effectively.

Business Tech

Milestone Systems subscribes to G7 Code of Conduct for AI

Arnold Pinto 19/01/2024

The Danish company is a first mover in this regard Milestone Systems – a leading provider of data-driven video technology software for security and other allied applications – has confirmed that the company has voluntarily signed and will implement the G7 Code of Conduct for advanced Artificial Intelligence (AI) systems. On October 30, 2023, the […]

Banking Business

Saxo Bank: Central banks are poised for rate cuts in 2024

PR News Desk 16/01/2024

Dynamic investment landscape yet looms this year Deviating from the tightening stance observed in 2023, central banks are set to initiate rate cuts in 2024, signalling a shift in the global economic landscape, according to Saxo Bank’s newly released Q1 2024 Quarterly Outlook for global markets. As the repercussions of historically high real yields and […]

Business Bahrain GCC Kuwait Oman Qatar Saudi Arabia UAE

Oil on the back burner as GCC pushes for new tech

PR News Desk 11/01/2024

By Konstantin Tserazov, former Senior Vice President of Otkritie Bank The Gulf Cooperation Council (GCC), a group of Arab states in the Arabian Gulf area, has traditionally played a pivotal role in the global markets by leveraging its sizable financial assets. Despite accruing regular oil revenues, the GCC nations have now set themselves on a […]

Aviation Business

Taiwan’s EVA Air orders 33 new Airbus aircraft

PR News Desk 11/01/2024

Order includes 18 A350-1000s and 15 A321neos EVA Air has become the latest global airline to select the Airbus A350-1000 aircraft for its future long-haul requirements following its new order to purchase 18 A350-1000s and 15 single-aisle A321neo from Airbus. EVA Air is one of the two largest airlines in Taiwan. Clay Sun, President of […]

Business Markets

World Economic Forum: Global cooperation has weakened from 2020

Arnold Pinto 10/01/2024

Business and government leaders urged to practise ‘coopetition’ Global cooperation was resilient in multiple dimensions from 2012 until 2020, but overall cooperation declined by 2% from 2020 to 2022, according to the World Economic Forum’s newly released Global Cooperation Barometer. The latest Global Cooperation Barometer employs 42 indicators to measure five pillars

Events Business GCC UAE

iFX Expo Dubai 2024 heads to DWTC this January

PR News Desk 10/01/2024

B2B event features 3 dynamic content stages Ultimate Fintech will host iFX Expo Dubai 2024 at Dubai World Trade Centre (DWTC) in Dubai, United Arab Emirates, from January 16-18, 2024. Billed as the MENA region’s leading online trading expo for brokers and traders to meet at and collaborate, in addition to prominent brands, brokers, and […]

Business Bahrain GCC Kuwait Oman Qatar Saudi Arabia UAE

GCC investors reap the benefit of new Shari’ah compliant silver spot contract

PR News Desk 07/01/2024

Platform was launched by DGCX The GCC region’s inaugural Shari’ah Compliant Silver Spot Contract (DSSC) is providing investors with a secure and transparent platform for trading the precious white metal. Dubai Gold & Commodities Exchange (DGCX), the top derivatives exchange in the Middle East, launched the contract in late 2023, after securing regulatory approval from

Business GCC UAE

AWS Europe opens 2 new branches in the UAE on February 1, 2024

Arnold Pinto 05/01/2024

Branches are located in Abu Dhabi and Dubai emirates Amazon Web Services EMEA (AWS Europe) will launch two local branches in the UAE on February 1, 2024. One new branch is located in Abu Dhabi to serve customers in the emirate primarily. In contrast, the other branch is located in Dubai, serving all customers across the […]

Business Events UAE

IDC to show META businesses how to prepare customers for the AI era

Arnold Pinto 04/01/2024

Industry event being held in Dubai on February 1, 2024 Tech vendors, resellers, regulators, and service providers across the Middle East, Turkey and Africa (META) region will receive key messages, outlooks, and predictions for the global and regional tech markets for 2024 and beyond when International Data Corporation (IDC) hosts ‘IDC Directions META 2024’ on […]

UAE Business GCC

Dubai unveils unified licence system for streamlined business operations

PR News Desk 29/12/2023

QR code will function as a unified business identity Dubai’s Department of Economy and Tourism (DET), in association with Dubai Free Zones Council, has unveiled the Dubai Unified Licence (DUL) project, aimed at transforming the business landscape in the Gulf emirate by assigning a unique identification number to all existing and newly opened businesses in […]

Business Bahrain GCC Kuwait Oman Qatar Saudi Arabia UAE

Salesforce deploys public cloud-based Hyperforce platform in the Middle East

Arnold Pinto 27/12/2023

New offering capitalises on public cloud scale and agility Salesforce – the San Francisco, California-headquartered company that specialises in AI, data and CRM solutions for sales, customer service, marketing automation, e-commerce, analytics, and application development – has launched Hyperforce, a secure, scalable, and reliable foundation for AI