Business & Money | Thursday 27 July, 2023 9:42 am

CBUAE raises base rate by 25 basis points

The Central Bank of the UAE (CBUAE) has decided to raise the Base Rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points – from 5.15 to 5.40 percent, effective from Thursday, 27th July, 2023.This decision was taken following the US Federal Reserve Board’s announcement on...

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Government | Thursday 27 July, 2023 9:35 am

SEC approves second batch of housing subsidy beneficiaries

H.H. Sheikh Abdullah bin Salem bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of Sharjah Executive Council (SEC), chaired on Tuesday, SEC’s meeting in the presence of H.H. Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Deputy Ruler of Sharjah and Deputy Chairman of SEC.During...

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Tourism & Hospitality | Thursday 27 July, 2023 9:30 am

60% of travelers make travel decisions based on influencer content

OMNES Influencers, a global influencer marketing agency and operator of omnesinfluencers.com, announced the launch of its new service for promoting tourism destinations around the world through a network of Arab and International content creators. The launch of the new service was mainly...

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Business & Money | Thursday 27 July, 2023 9:23 am

Saudi Central Bank Makes Decisions on Repo and Reverse Repo Rates

The Saudi Central Bank (SAMA) decided to raise the rate of Repurchase Agreement (Repo) by 25 basis points to 6.00 percent, and the rate of Reverse Repurchase Agreement (Reverse Repo) by 25 basis points to 5.50 percent. These decisions are in line with SAMA’s mandate of preserving monetary...

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Business & Money | Thursday 27 July, 2023 8:37 am

Fed hikes interest rate to highest since 2001

The Federal Reserve raised interest rates by 25 basis points (bps), as widely expected, to the highest level in 22 years.   The Federal Reserve lifted its key interest rate at the range of 5.25% and 5.50%, the Federal Open Market Committee (FOMC) said in its policy...

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Culture & Education | Thursday 27 July, 2023 8:23 am

Ministry of Culture and Youth launches initiative to promote UAE’s modern architectural heritage

The Ministry of Culture and Youth has launched the Modern Architectural Heritage of UAE initiative which aims to recognize and preserve the UAE’s architectural heritage post 1960s and raise awareness about its significance in shaping the country.  Designed with the overarching theme of...

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Technology & IT | Thursday 27 July, 2023 8:01 am

Ransomware turbulence: attacks fluctuate and are increasingly dangerous in Egypt and Saudi Arabia

Ransomware remains one of the main threats to information security globally and in the META region. In 2022, the average cost of a ransomware attack was US$4.54 million (according to IBM’s data breach report), and Kaspersky solutions detected over 74.2M attempted ransomware attacks (20% increase...

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Technology & IT | Thursday 27 July, 2023 4:06 am

Gartner Says Worldwide IaaS Public Cloud Services Revenue Grew 30% in 2022, Exceeding $100 Billion for the First Time

The worldwide infrastructure as a service (IaaS) market grew 29.7% in 2022, to total $120.3 billion, up from $92.8 billion in 2021, according to Gartner, Inc. Amazon retained the No. 1 position in the IaaS market in 2022, followed by Microsoft, Alibaba, Google and Huawei. “Cloud has been...

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Business & Money | Thursday 27 July, 2023 4:04 am

Uber study reveals insights from female drivers in Saudi Arabia with financial independence

Following a survey shared by Uber among female drivers in Saudi Arabia and Egypt, data found sees an optimistic outcome of female empowerment in the Kingdom, with more than 76% of the participants citing financial independence as the reason they drive using Uber. More than 56% of the participants...

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Government | Thursday 27 July, 2023 3:13 am

Hatta Customs Center supports supply chains, handles 260 cargo trucks per day

The latest data from Dubai Customs show a total of 46,965 cargo trucks have been handled by the Hatta Border Crossing Customs Center over the first six months of this year, a daily average of 260 trucks mostly loaded with foodstuffs.   Dubai Customs said their integrated,...

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