Business & Money | Monday 1 August, 2022 12:10 pm

RAKEZ welcomes American artificial intelligence company Falcons.AI

Ras Al Khaimah Economic Zone (RAKEZ) welcomed Falcons.AI, an American company which provides software programmes and consultation services driven by artificial intelligence (AI). With pre-existing business-to-business and business-to-government products in its portfolio, Falcons.AI aims to...

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Business & Money | Sunday 31 July, 2022 1:22 pm

Saudi economy expands by 11.8% in Q2 on higher oil activities

According to flash estimates by the General Authority for Statistics, real gross domestic product of Saudi Arabia increased by 11.8 percent in the second quarter of 2022 from a year ago.  The growth was mainly driven by the increase in oil activities by 23.1...

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Business & Money | Sunday 31 July, 2022 11:26 am

Tadawul-listed ‘Theeb Rent A Car’ Launches New Branch in Hail, north-western Saudi Arabia

Saudi Stock Exchange (Tadawul) listed ‘Theeb Rent A Car’ has launched a new branch in Hail city, the second branch in Hail city, in the north-western Saudi Arabia. This is part of the expansion plans of the company for 2022. The company plans to cover all cities, areas, and provinces of Saudi...

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Business & Money | Sunday 31 July, 2022 11:01 am

Twitter celebrates a decade of transparency with new report

 Twitter released its twentieth report: Twitter’s commitment to transparency in action. As part of their efforts to improve the health of the public conversation, the report reflects on the platform’s progress over the past decade, and their vision going forward.  Evolution of...

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Business & Money | Sunday 31 July, 2022 10:47 am

Emirati mountaineer climbs world’s deadliest mountain, K2, as part of peace mission

When he scaled K2 last week, Saeed Al-Memari became the first Emirati to reach the top of the world’s most-dangerous mountain, a feat that he told Arab News has also become a milestone in his “special mission of peace.”The 8,611-meter-tall K2 is located in the Karakoram mountain range, which...

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Business & Money | Sunday 31 July, 2022 10:06 am

Al Rajhi Bank posts 21% profit surge to $2.2bn for H1

Saudi Arabia’s Al Rajhi Bank’s net profit hit SR8.4 billion ($2.2 billion) in the first half of 2022, bolstered by a 15 percent jump in operating income. This represents a 21 percent surge from SR6.9 billion in the same period last year, according to a bourse filing. The increase in...

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Business & Money | Sunday 31 July, 2022 10:02 am

Saudis hail Vision 2030 women’s workforce figures

Saudis have hailed workforce figures that reveal the growing role of women in the national economy as part of Vision 2030. Saudi women now comprise 33.6 percent of the Saudi workforce as of March 2022, according to the General Authority for Statistics. That figure is up from 17.4 percent just...

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Business & Money | Sunday 31 July, 2022 9:46 am

HIPA announces winners for eleventh season of ‘Nature’

The Hamdan bin Mohammed bin Rashid Al Maktoum International Photography Award (HIPA) announced the winners of its 11th season of competition "Nature". British photographer, Henley Spiers won the coveted grand prize of US$120,000, while the embodiment of Arab creativity photographers saw...

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Business & Money | Saturday 30 July, 2022 1:38 pm

Enhance Ventures Launches $30M Builders Fund

Enhance Ventures (www.enhance.online), the MENAPT region’s leading venture studio, has announced the launch of its $30M Builders Fund, which will invest in the company’s next set of ventures for the future of finance and commerce in the Middle East. Through the fund, the company plans to...

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Business & Money | Friday 29 July, 2022 3:01 pm

Russia fines Google $34 mln for breaching competition rules

Russia’s competition watchdog fined Alphabet’s Google 2 billion roubles ($34.2 million) on Tuesday for abusing its dominant position in the video hosting market, the regulator said in a statement.The decision is the latest multi-million dollar fine as part of Moscow’s increasingly assertive...

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