Articles written by
arabian post staff

Reliance Industries Ventures into WTI Midland Crude Market

Arabian Post Staff – In a move signalling India’s growing thirst for diversifying its crude oil sources, Reliance Industries, the nation’s refining giant, has made a historic foray into the trading of West Texas Intermediate (WTI) Midland crude. This marks a significant development for Reliance, owner of the world’s largest refining complex at Jamnagar, and is indicative of a trend where Indian refiners are increasingly looking beyond […]

Dubai and Switzerland Forge Stock Market Link to Boost Investment Reach

Arabian Post Staff – The Dubai Financial Market (DFM) has joined forces with the Swiss Exchange, SIX, in a strategic partnership designed to expand investment opportunities for companies listed on both exchanges. This collaboration, announced during the Dubai Capital Market Summit, aims to streamline the process for companies seeking dual listings, essentially allowing them to trade their shares on both the DFM and the SIX. The agreement […]

Saudi Arabia Lures Global Investors with Ambitious Financial Reforms

Arabian Post Staff – Saudi Arabia’s financial sector is undergoing a significant transformation,with the kingdom setting its sights on attracting a surge of foreign investment.A recently unveiled report,the 2023 Financial Sector Development Program (FSDP),outlines a series of ambitious goals aimed at enhancing the appeal of the Saudi stock exchange to international investors. One key objective is to increase foreign ownership of free float shares to 17% by […]

Microsoft Makes Strategic Investment in UAE’s AI Leader G42

Arabian Post Staff – Microsoft’s recent $1.5 billion investment in G42, a leading artificial intelligence (AI) and cloud computing company in Abu Dhabi, has cast a bright light on the United Arab Emirates’ (UAE) growing prominence in the global AI landscape. This move by the tech giant signifies not only Microsoft’s belief in G42’s potential but also the UAE’s ambitious strides towards becoming a major AI hub. […]

Dubai Eyes Closure of DXB Airport After Mega-Hub Transition

Arabian Post Staff – Dubai International Airport (DXB), a titan among global aviation hubs, could be facing retirement as the emirate sets its sights on a future dominated by a new mega-airport. Dubai Airports CEO Paul Griffiths hinted at the possibility of DXB’s closure in a recent interview, citing the impending completion of a new passenger terminal at Al Maktoum International Airport. Al Maktoum, boasting a capacity […]

Abu Dhabi Luxury Homes See Price Boom Fueled by Foreign Investors

Arabian Post Staff – Abu Dhabi’s property market is experiencing a surge in interest, particularly for luxury apartments and villas. This trend is being driven by an influx of global investors seeking a foothold in the Emirate’s thriving real estate sector. Data from Bayut, a leading UAE property portal, indicates that upscale neighborhoods have witnessed the most significant price increases, with sales prices for luxury properties rising […]

Hackers Mimic LastPass to Breach Vaults

Password manager LastPass finds itself entangled in a deceptive scheme by cybercriminals. Perpetrators are impersonating LastPass staff to infiltrate user accounts, a tactic raising concerns about multi-factor authentication’s (MFA) effectiveness. The attack hinges on social engineering, a strategy that exploits human trust. Victims receive a phone call, often with a spoofed number appearing as a legitimate LastPass line. The caller, posing as a LastPass representative, claims to […]

Data Security in the IoT and AI Era

The burgeoning realm of interconnected devices, the Internet of Things (IoT), and the rise of artificial intelligence (AI) are revolutionizing how we live and work. However, this newfound connectivity presents a double-edged sword for data security. While these technologies unlock a treasure trove of opportunities, they also introduce novel security challenges that organizations must navigate to safeguard sensitive information from data breaches. One of the primary concerns […]

Tech Giant Discharges Workers Following Disruptive Protest

Tech giant Google terminated the employment of 28 staff members following a protest that disrupted operations at their offices in Sunnyvale, California and New York City. The demonstration, which involved a prolonged sit-in, stemmed from employee discontent with Project Nimbus, a contentious $1.2 billion cloud computing contract with the Israeli government. Project Nimbus, inked in 2021, involves Google and Amazon jointly providing the Israeli government, including its […]

Lufthansa Faces Fresh Cabin Crew Strike Disruption

Germany’s Lufthansa airline is bracing for renewed travel chaos as its cabin crew union announced a two-day strike targeting major airports. The Independent Flight Attendants Organization (UFO) called for its members to walk off the job on Tuesday and Wednesday of next week, impacting departures from Frankfurt and Munich airports respectively. This latest industrial action comes on the heels of a separate strike by Lufthansa ground staff […]

20% of UAE population has shifted to online shopping

Arabian Post Staff As much as 20 percent of the UAE population have shifted to online shopping during the last few years, a conference on e-commerce in Dubai was informed. This raises the online shopping population from 4.5 million in 2019 to 6.5 million in 2023, that is accelerating the growth of the UAE’s US$83.5 billion (Dh306.6 billion) retail sale. The overall UAE retail market size was […]

Etihad reports AED 525 million net profit for 2023

Arabian Post Staff Etihad Airways announced a net profit of AED 525 million (U.S.$ 143 million) for the full year 2023, underscoring a strong financial performance and effective operational strategy. The airline reported AED 1.4 billion (U.S.$ 394 million) operating result, driven by AED 4 billion (U.S.$ 1.1 billion) year-on-year growth in passenger revenue, while decreasing unit cost excl. fuel by seven per cent, marking a significant […]

Beyond Limits Debuts Breakthrough Hybrid AI Platform

In a pivotal development for the realm of artificial intelligence, Beyond Limits, an esteemed industrial-grade AI software company, has unveiled its groundbreaking Hybrid AI Platform. This transformative technology is poised to redefine how operational data is processed and decisions are made within mission-critical applications. Addressing the limitations of current AI methodologies, often reliant on extensive datasets and opaque decision-making processes, Beyond Limits’ Hybrid AI Platform stands out […]

Exploring Amsterdam on a Budget: Unveiling the City’s Hidden Gems

Amsterdam, the captivating Dutch capital, beckons tourists with its iconic canals, rich history, and vibrant cultural scene. While many museums showcase the city’s artistic heritage and fascinating past, admission fees can sometimes add up. However, for budget-conscious travelers, Amsterdam offers a wealth of hidden gems – free museums waiting to be explored. One such gem is the Rijksmuseum Gardens, a tranquil oasis nestled amidst the bustling city […]

Post-cut oil price behaviour shows OPEC+may have lost teeth

Arabian Post Staff The decision by OPEC+ to extend production cuts into the second quarter of 2024 has ignited a debate about its effectiveness in manipulating the market. While the intended consequence is to prop up oil prices, the reality is often more nuanced, raising questions about the organization’s long-term control over the oil market. Historically, OPEC’s production cuts have indeed influenced oil prices. In the past, […]

Agitation Of Government Employees And Trade Unions May Impact Election 2024

Five Decisive Reasons for Restaurants to Adopt Accounting Software in 2024

In the intricate world of food and beverage (F&B), a Restaurant Enterprise Resource Planning (ERP) software is a specialized tool that integrates Front of House (FOH) activities, like customer service and order processing, with Back-Office (BO) operations, covering accounting, financial management, inventory control, and administrative tasks. 1. What Is a Restaurant ERP Software? Traditionally, restaurants using Point of Sale (POS) systems faced manual entries, a cumbersome and […]

RTA entity aims to repeat success of previous govt IPOs

Arabian Post Staff Dubai is set to witness its first initial public offering (IPO) of 2024, with Parkin, the emirate’s Roads and Transport Authority (RTA) parking division, taking center stage. This move follows the successful privatization initiatives of Dubai, where government entities like Salik (toll roads) and Dubai Taxi witnessed significant investor interest and oversubscription during their respective IPOs in 2022. Parkin’s IPO, slated to begin accepting […]

Dubai eyes another record breaking tourism performance

Arabian Post Staff Dubai is poised for a surge in tourism, thanks to a recent relaxation of visa regulations by the UAE. In a move aimed at attracting visitors and boosting the local economy, the UAE introduced a new five-year multiple-entry visa specifically for tourists. This visa allows visitors to enter the country multiple times within a five-year period, with each stay lasting up to 90 days […]

Short-term rentals add to Dubai real estate market attractions

Arabian Post Staff A new trend is taking root in Dubai’s real estate sector: short-term rentals. These vacation homes and apartments, often managed through online platforms like Airbnb, are gaining traction, offering both opportunities and challenges for investors and the industry as a whole. The rise of short-term rentals is fueled by several factors. Firstly, Dubai’s tourism boom shows no signs of slowing down. With Expo 2020 […]

UAE scores big win by exiting FATF ‘grey list’

Arabian Post Staff The United Arab Emirates (UAE) has secured a significant victory in its fight against illicit finance, as the Financial Action Task Force (FATF) removed the country from its “grey list” on Friday. This move, which follows years of efforts by the UAE to strengthen its anti-money laundering (AML) and counter-terrorism financing (CFT) measures, is seen as a major boost to the nation’s international standing. […]

Union Initiates Lufthansa Ground Staff Strike Across German Airports

Members of a prominent aviation union have called for a strike among Lufthansa ground staff at various German airports. The labor action is anticipated to disrupt airline operations and impact travelers across the region. The union, representing a substantial number of Lufthansa ground personnel, announced the strike following unsuccessful negotiations regarding employment terms and conditions. The labor dispute has escalated, with both parties failing to reach a […]

U.S. Is Now Finally Isolated Globally Over Its Veto On Un Resolution For Ceasefire

Kuwait Reverses Decision on Public Sector Staffing Freeze

Kuwait has reversed a previous decree that suspended appointments, promotions, and transfers within the public sector. The decision, which had caused concerns and discussions within the community, has been met with a mixed response. The initial decree, implemented to manage administrative processes efficiently, faced criticism for its potential impact on career progression and workforce dynamics. The reversal comes after a thorough review of the implications and considerations […]