Business & Money | Sunday 14 July, 2019 10:33 am

Region’s logistics market to reach $66.3bn by 2020

Materials Handling Middle East, the region’s dedicated trade show for warehousing, intralogistics and supply chain solutions, has evolved into a futuristic showcase of robotics and automation for its 2019 edition, as the 4th Industrial Revolution, or Industry 4.0, continues to reshape the...

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Business & Money | Sunday 14 July, 2019 10:10 am

Five popular restaurants fined SR8 million for inflating prices

 A judicial committee at the Administrative Court in Riyadh has upheld an earlier ruling sentencing five popular restaurants a total amount of SR8.26 million for conspiring among themselves to fix their prices at a time the prices of the foodstuffs have come down. Court sources said the...

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Business & Money | Sunday 14 July, 2019 8:09 am

Euromoney Magazine names Jordan's Arab Bank best Mideast bank in 2019

 The Arab Bank was named Best Bank in the Middle East 2019 by the London-based Euromoney Magazine, according to a press release issued by the bank on Saturday. The bank said it had also received the awards of the best bank in Jordan 2019 and the best bank in Palestine 2019 from...

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Business & Money | Saturday 13 July, 2019 11:27 am

Middle East completes a dynamic decade of entrepreneurship

Since 2009, the Middle East and North Africa (MENA) region has come a long way in making its mark on the global entrepreneurship map. The following are some of the biggest milestones of the MENA ecosystem over the past decade as compiled by Arabnet, one of the region’s leading events and...

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Business & Money | Saturday 13 July, 2019 11:15 am

KSA ranked 2nd among G20 countries in awarding radio spectrum

Saudi Arabia has made the largest breakthrough among the G20 countries, in terms of the amount of radio spectrum awarded to operators in globally identified frequency bands for public mobile telecommunication services, according to global radio spectrum allocation reports. Since the end of Q2...

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Business & Money | Saturday 13 July, 2019 10:47 am

King Salman Energy Park (SPARK) signs agreement to establish Oilfields Supply Center as major investor and anchor tenant

King Salman Energy Park (SPARK) and Dubai-based Oilfields Supply Center Ltd. (OSC) today signed an agreement to establish OSC as an anchor tenant at SPARK, an energy city megaproject which will cement Saudi Arabia’s position as a global energy, industrial and technology hub. In...

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Business & Money | Saturday 13 July, 2019 10:35 am

Facebook is fined $ 5 billion

The US authorities imposed a $ 5 billion fine on Facebook following an investigation into the failure of the social networking giant to protect users' privacy, the Wall Street Journal reported on Friday. Commissioners at the Federal Trade Commission voted 3 to 2 in favor of a compromise deal ...

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Business & Money | Saturday 13 July, 2019 10:31 am

Amazon and Microsoft are bidding for a $ 10 billion contract

A federal judge has paved the way for Amazhausen and Microsoft to compete for a $ 10 billion contract from the Defense Department for a cloud computing system. The judge issued a judgment against Oracle Technology, which confirmed that it was unfairly excluded from the competition for the...

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Business & Money | Saturday 13 July, 2019 7:37 am

World Bank: Jordan's ranking on global business index improved

  The World Bank said that global experience has shown that entrepreneurship stimulates job creation in the economy, while the degree of success of entrepreneurs depends on the maturity of the core business environment. He added in a blog post that traditional ways of creating jobs and...

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Business & Money | Friday 12 July, 2019 1:10 pm

World stocks rise as bond yields buoy financials; oil drops

A broad index of stocks around the world rose on Thursday as financial shares helped Wall Street’s benchmark index advance, while oil prices fell on a forecast for weaker demand. The U.S. benchmark S&P 500 stock index notched a record closing high just shy of the 3,000 mark as...

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