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The Dubai Electricity and Water Authority (DEWA) is considering expanding its scope by taking on a developer role. This potential move comes as the authority looks to diversify its operations and contribute more significantly to Dubai’s ambitious infrastructure goals. DEWA, currently responsible for Dubai’s electricity and water supply, has a proven track record of managing large-scale projects. The authority’s successful implementation of various renewable energy initiatives has […]

Qatar is embarking on a significant digital transformation journey, placing a strategic bet on artificial intelligence (AI) as a key driver. The nation revealed a $2. 47 billion investment package to fuel its AI ambitions during the fourth edition of the Qatar Economic Forum. This commitment signifies Qatar’s intent to become a regional leader in AI adoption. Shedding light on the initiative, Qatar’s Prime Minister and Minister […]

District cooling leader Tabreed announced a steady climb in revenue for the first quarter of 2024. The UAE-based company reported earnings of AED 468 million, marking a slight increase from AED 464 million during the same period in 2023. While the growth may seem modest, it signifies Tabreed’s continued financial stability and its ability to navigate a dynamic market. This positive performance is underscored by Tabreed’s Earnings […]

Bayanat, a leading provider of artificial intelligence (AI)-powered geospatial solutions listed on the Abu Dhabi Securities Exchange (ADX), kicked off 2024 on a high note. The company announced a strong financial performance for the first quarter (Q1), reporting AED 113 million in revenue. This marks a significant 12% year-over-year increase, solidifying Bayanat’s position in the geospatial solutions market. This impressive growth is attributed to Bayanat’s strategic expansion […]

Good news for Gulf Cooperation Council (GCC) banks:credit rating agency S&P Global Ratings predicts their profitability will stay robust throughout 2024. This positive outlook comes despite a delay in interest rate cuts by the US Federal Reserve. The strong performance is largely attributed to the mirroring effect between GCC central banks and the Fed. Since most GCC currencies are pegged to the US dollar, their central banks […]

Highlights of FY23/24 Results For the financial year ended 31 March 2024, total sales amounted to US$3,814 million – an increase of 5% compared to the prior year Gross profit totalled US$851 million – an increase of 19% EBITA, adjusted to exclude non-cash foreign exchange rate movements and restructuring charges, increased by 56% to US$343 million or 9.0% of sales (compared to 6.0% of sales in FY22/23) […]

  The Abu Dhabi Investment Authority (ADIA), the sovereign wealth fund of the United Arab Emirates, has joined a consortium aiming to privatize Malaysia Airports Holdings Berhad (MAHB). The consortium, known as the Gateway Development Alliance, submitted a pre-conditional voluntary offer to acquire all remaining shares in MAHB for a total of $3.9 billion. This move comes as Malaysia seeks to raise capital and potentially improve the […]

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First of its kind in Hong Kong’s construction industry to drive ESG initiatives HONG KONG SAR – Media OutReach Newswire – 16 May 2024 – DBS Bank (Hong Kong) Limited (“DBS Hong Kong”) and Sanfield (Management) Limited (“Sanfield”) today announced the launch of pioneering Sustainability-linked Supplier Payment Services (“SPS”) for the Hong Kong construction industry. The SPS program marks a significant milestone in extending environmental, social and […]

In a move designed to accelerate the development of Saudi Arabia’s entertainment sector, Qiddiya Investment Company (QIC) announced the incorporation of SEVEN, the Kingdom’s leading entertainment development firm. This strategic merger strengthens Saudi Arabia’s ambition to transform its entertainment landscape and position Qiddiya, a mega entertainment city under construction, as a key contributor to the nation’s economic diversification goals. SEVEN, established in 2017 by the Public Investment […]

Global ocean exploration nonprofit sets sail in Indonesia on a first-of-its-kind Southeast Asian mission that combines science, education, and media to support the advancement of ocean science and marine education in the region, contributing to the battle against climate change. BALI / JAKARTA, INDONESIA- Media OutReach Newswire – 15 May 2024 – Global ocean exploration nonprofit OceanX, together with the Coordinating Ministry of Maritime Affairs and Investment […]

Riyadh, Saudi Arabia – Metric, a global financial intelligence and analytics platform built for small and medium-sized businesses (SMBs), has been backed by the 500 Global program through the Sanabil 500 Mena Seed fund. This support underlines Metric’s commitment to fostering the burgeoning SME sector in Saudi Arabia, and the push towards digitization for businesses. 500 Global, a highly renowned multi-stage venture capital firm with $2.4B in […]

SANTO DOMINGO, DOMINICAN REPUBLIC – Media OutReach Newswire – 15 May 2024 – CCD, a nearshore call center based in the Dominican Republic focused on providing exceptional patient experiences, announces its recognition and certification among the Best Places to Work in Dominican Republic for 2024. This certification reflects the company’s commitment to making every effort to achieve best employer status in terms of working conditions, and to […]

OCB achieves technology implementation speed 3x faster than industry norm in its launch of a customer-centric omnichannel banking platform, setting a new benchmark in Vietnam HO CHI MINH CITY, VIETNAM – Media OutReach Newswire – 15 May 2024 – Backbase, the global leader in Engagement Banking, Orient Commercial Joint Stock Bank (OCB), a top private bank in Vietnam, together with SmartOSC, the premium digital enabler, announce the […]

Simple, affordable, and powerful infrastructure solution makes AI more accessible for enterprises SINGAPORE – Media OutReach Newswire – 15 May 2024 – NetApp® (NASDAQ: NTAP), the intelligent data infrastructure company, today announced NetApp AIPod with Lenovo ThinkSystem servers for NVIDIA OVX, a converged infrastructure optimized for the generative AI era. NetApp and Lenovo have had a strong partnership for over five years and are now taking the […]

Al Dahra Holding, a major agribusiness player, is leveraging cutting-edge technologies and fresh ideas to steer its global investments in the high-quality food sector, according to Khedaim Abdullah Al Derei, the company’s Co-Founder and Managing Director. This approach aligns with Al Dahra’s vision of becoming a dependable international partner and a supplier of agricultural and food products that prioritizes sustainability. Al Derei emphasized the significant role technology […]

The recent Food Innovation Conference 2024, held in Dubai, has been hailed by the CEO of the Mohammed bin Rashid Global Centre for Innovation (MBRGI), Yousef Hussain Al Sahass, as a pivotal moment for the food sector in the Gulf region. Al Sahass, in a press statement released on Tuesday, praised the conference for bringing together key stakeholders from across the food industry, including policymakers, researchers, entrepreneurs, […]

By Saifur Rahman Emirates Group that includes the world’s largest international passenger carrier Emirates Airline and its ground handling and ticketing arm Dubai National Air Travel Agency (Dnata) reported a 71 percent jump in net profits exceeding Dh18.7 billion (US$5.1 billion) in 2023-24 financial year ending March 31 2024, compared to Dh11 billion (US$3 billion) recorded the previous year. This is a new profit record for Emirates […]

SINGAPORE – Media OutReach Newswire – 14 May 2024 – New data from Nexusguard’s DDoS Statistical Trends Report 2024 reveals bad actors are shifting DDoS tactics. Computers and servers became the primary target of attacks, making up 92% of DDoS attempts, compared to only 68% in the previous year. Attacks are also becoming shorter and less frequent, but more powerful. While the overall count in attack frequency […]

Abu Dhabi Islamic Bank (ADIB), a leading Islamic financial institution in the United Arab Emirates, has announced a strategic move to expand its banking activities by actively supporting small and medium-sized enterprises (SMEs). This initiative signifies ADIB’s commitment to fostering the growth of the domestic economy by empowering a vital sector that drives innovation and job creation. The bank’s support for SMEs will likely encompass a variety […]

Former Google, PayPal, and Visa executive, Liru Chan, appointed Group Head of Marketing Former ShopBack, Honestbee, and Schneider Electric executive, Francois Picard, appointed Group Head of Operations SINGAPORE – Media OutReach Newswire – 13 May 2024 – MoneyHero Limited (NASDAQ: MNY) (“MoneyHero” or the “Company”), a market-leading personal finance and digital insurance aggregation and comparison platform in Greater Southeast Asia, today announced two key additions to its […]

PLANO, TX and MANILA, PHILIPPINES – ACCESSWIRE – 9 May 2024 – Intrusion Inc. (NASDAQ:INTZ), a leader in cyberattack prevention solutions, and Total Information Management Corporation (TIM), a key provider of technology solutions (Data Center services, Cybersecurity, System Integration) in the Philippines, today announced a deal with Orca Cold Chain Solutions, a cutting-edge logistics and supply chain management company. Under the terms of the agreement, TIM will […]

A giant air purifier, dubbed “Mammoth, ” has begun operations in Iceland, marking a significant step in the fight against climate change. This facility, built by Swiss company Climeworks, boasts the title of the world’s largest direct air capture (DAC) plant, dwarfing its predecessor, Orca, by a factor of ten. DAC technology tackles the issue of climate change at its core – greenhouse gases in the atmosphere. […]

Exclusive offers for Melco Style members to enjoy 20% off advance ticketing and 25% discount on Combo for 4 only from May 14 – May 20 MACAU SAR – Media OutReach Newswire – 10 May 2024 – Since inception last year, Melco Residency Concert Series presented by Melco Style has quickly become one of the Asia’s most sought-after flagship entertainment centerpiece and has attracted over tens of […]

In a landmark move, cryptocurrency giants Binance and KuCoin have secured registration with India’s Financial Intelligence Unit (FIU), marking the first time the country’s anti-money laundering watchdog has approved offshore crypto entities. This decision signifies a significant shift in India’s stance on the cryptocurrency industry, which previously saw a ban imposed on Binance and KuCoin alongside several other international exchanges. The registration news comes after a period […]

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