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Dubai Chamber of Digital Economy, part of the Dubai Chambers network, has hosted two key events to accelerate the promotion of the ‘Launchpad Dubai’ initiative. The events, attended by approximately 180 entrepreneurs and digital company representatives, focused on expanding tech companies and encouraging innovation within Dubai’s business ecosystem. Held at strategic venues across Dubai, the events were designed to provide a platform for tech entrepreneurs to engage […]

DUBAI, UAE – EQS Newswire – 21 August 2024 – Dexiconn, a leading digitally driven new- age distribution and solutions company of consumer electronics, IT, Enterprise and Automation in the UAE, is pleased to announce its partnership with Bosch Home Comfort to distribute Bosch air conditioners in the UAE market. This strategic collaboration brings Bosch’s renowned German technology and design to the region, enhancing the home comfort […]

Mashreq Bank has launched an International Bank Account Number (IBAN) Validation Application Programming Interface (API) aimed at enhancing banking experiences for corporate clients. This development is designed to reduce errors and mitigate fraud risks by ensuring accurate verification of IBANs before processing transactions. The IBAN Validation API is a significant step for Mashreq, particularly as it integrates with the Central Bank of the UAE’s payment infrastructure. By […]

Revenue and Profit Attributable to Shareholders up 54% and 83% respectively Proactive in Seeking Change and Capturing Growth Opportunities to Achieve Long-term Sustainable Development (RMB’ million) Six months ended 30 June 2024 2023 Change (%) Revenue 168.8 109.3 +54% Gross profit 85.8 56.6 +52% Operating profit 56.7 33.9 +67% Profit attributable to shareholders 56.1 30.7 +83% Basic earnings per share (RMB) 0.028 0.017 +65% HONG KONG SAR […]

The aggregate income of the UAE’s ten largest banks surged to $5.8 billion in the second quarter of 2024. This impressive figure reflects a notable increase from the previous quarter, driven by robust economic activities and heightened banking sector performance across the Emirates. The upward trend in earnings for the UAE’s leading financial institutions is attributed to several key factors. Economic recovery in the region has bolstered […]

Saudi Arabia’s ambitious NEOM project is set to revolutionize sustainable transportation with a new fleet of zero-emission electric passenger ships. This groundbreaking initiative, part of NEOM’s broader vision to establish a futuristic city with eco-friendly technologies, underscores the kingdom’s commitment to environmental sustainability and innovative transportation solutions. The introduction of these electric passenger ships marks a significant milestone in NEOM’s quest to transform its maritime sector. Designed […]

As Indonesia advances as a technological and economic powerhouse in Southeast Asia, its cybersecurity landscape is becoming increasingly perilous. The country, recognized for its burgeoning technology sector and strategic significance in finance and logistics, now faces an escalating threat from cybercriminals and state-sponsored hackers. A comprehensive report on Indonesia’s cyber threat environment for 2024 highlights several critical trends. The growing sophistication of attacks is a prominent concern, […]

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An Abu Dhabi-led consortium has been awarded the contract to build a major wastewater treatment plant in Uzbekistan. This significant infrastructure project is set to enhance the country’s water management capabilities and address its growing urban demands. The consortium, consisting of Abu Dhabi’s International Holding Company (IHC) and local Uzbek partners, has been selected for this project following a competitive bidding process. The new facility will be […]

Genesis Digital Assets (GDA) has launched a groundbreaking initiative aimed at transforming waste heat into a valuable energy source. The project, introduced at a high-profile industry conference, represents a significant advancement in sustainable energy technology, with the potential to revolutionize how industrial processes manage waste heat. Abdumalik Mirakhmedov, Executive President of GDA, one of the world’s largest bitcoin mining companies in terms of hash rate, says strong […]

The Saudi Public Investment Fund (PIF) has achieved a notable expansion in its assets under management, reaching $925 billion as of the end of 2023. This substantial increase reflects a strategic investment focus and a growing commitment to bolstering the domestic economy. In a major push to stimulate local economic growth, the PIF invested $40 billion within Saudi Arabia last year. These investments have been directed across […]

Researchers have introduced an innovative eco-friendly plastic substitute, which they claim could significantly reduce environmental pollution. This new material, termed “organic eutectics,” emerged from a study recently published in *Chemical Science*. Created by combining crystalline components, this development presents a promising alternative to conventional plastics, which are notorious for their environmental impact. The organic eutectic material offers notable advantages over traditional plastics. Unlike conventional plastics that degrade […]

PUTRAJAYA, MALAYSIA – Media OutReach Newswire – 21 August 2024 – The world’s renowned thought leaders, innovators, and industry experts are set to gather in Malaysia for the highly anticipated 4th World Islamic Tourism Conference (4th WITC). This landmark event, scheduled to take place on upcoming 12 and 13 September, promises to be a pivotal moment in the global Islamic tourism landscape. Organised by Islamic Tourism Centre […]

Hedge funds are increasingly turning their attention to small-cap casino stocks, drawn by the sector’s potential for significant returns amid evolving market dynamics. As the gambling industry continues to rebound from the pandemic, smaller firms are attracting investors with innovative online platforms and strategic partnerships. Companies like Super Group, which operates the Betway brand, have emerged as key players, leveraging robust cash flows and minimal debt to […]

Nigeria is poised to launch its first-ever cryptocurrency licensing framework, aiming to regulate digital assets and services within the country. The Securities and Exchange Commission (SEC) has announced plans to issue licenses for digital service providers and tokenized assets in the coming weeks. This development marks a significant step for Nigeria, as it seeks to create a formal structure for the burgeoning cryptocurrency market. The SEC’s initiative […]

PancakeSwap, a prominent decentralized exchange (DEX) on the Binance Smart Chain, has recently expanded its influence, solidifying its position as one of the leading platforms in the cryptocurrency market. Established as a key player in the decentralized finance (DeFi) space, PancakeSwap now ranks third among the top crypto exchanges by trading volume. Originally launched in September 2020, PancakeSwap allows users to trade various cryptocurrencies directly without the […]

Riyadh Air has taken a significant step toward reducing carbon emissions by unveiling the first electric bus in its transportation fleet. This move aligns closely with Saudi Arabia’s Vision 2030, which emphasizes environmental sustainability and technological advancement as key pillars of the Kingdom’s future development. The electric bus fleet, which is primarily intended for employee transport, was developed in collaboration with National Transportation Solutions Co., a subsidiary […]

Sav, a prominent financial technology firm based in the UAE, has introduced MyMoney, an innovative platform designed to centralize financial management for residents. The new service aims to simplify how users monitor and analyze their finances by consolidating data from multiple bank accounts into a single, user-friendly dashboard. MyMoney integrates various financial data points, allowing users to view their complete financial landscape in one place. This functionality […]

State Street has announced a strategic partnership with Taurus, a leading digital asset infrastructure provider, to advance its services in cryptocurrency custody and tokenization. This collaboration marks State Street’s first major step into the digital assets space, setting the stage for future expansions in response to evolving regulatory landscapes. Taurus, headquartered in Switzerland, is renowned for its robust technology platform that supports secure custody and tokenization of […]

Ethereum’s dark pools, private trading platforms where transactions occur away from public exchanges, are seeing a marked increase in activity. Recent data reveals a significant uptick in private transactions on these platforms, overshadowing their public counterparts. This surge reflects a growing trend among institutional and high-net-worth investors seeking discretion and favorable trading conditions. Dark pools are typically used by large investors to execute substantial trades without impacting […]

Geolocation technology, harnessing the power of IP addresses and GPS signals, has transformed digital interactions by providing highly tailored experiences. This technology allows applications and websites to determine a user’s location with remarkable accuracy, thereby offering customized content, targeted advertisements, and localized services. However, the use of geolocation also raises significant privacy concerns, necessitating a balanced approach to harness its benefits while protecting personal data. Modern geolocation […]

Donald Trump has sparked controversy by sharing artificial intelligence-generated images on his social media platform, Truth Social, suggesting pop star Taylor Swift supports his presidential campaign. The images, created with AI technology, include a depiction of Swift dressed as Uncle Sam with the text “Taylor Wants You to Vote for Donald Trump” and other visuals showing groups of women in “Swifties for Trump” T-shirts. The AI-generated images […]

ADNEC Group has launched its 2023 Environmental, Social, and Governance (ESG) report, underscoring its dedication to sustainable growth, ethical practices, and social responsibility across its diverse business segments. The report reflects ADNEC’s ongoing efforts to integrate sustainability into its operations, particularly within its seven key clusters: Venues, Events, Hotels, Food & Beverage, Services, Tourism, and Media. The ESG report is not just a reflection of the group’s […]

T2, a prominent Saudi Arabian investment group, has secured a controlling stake in Jordan’s Smart Way Business Solutions, marking a significant expansion in its regional technology investments. This strategic move reflects T2’s commitment to strengthening its foothold in the Middle Eastern tech industry and leveraging Jordan’s growing digital sector. The acquisition deal, finalized this week, sees T2 obtaining a 60% share in Smart Way Business Solutions, a […]

ESET Research has uncovered a sophisticated phishing campaign that exploits a novel method to target Android and iPhone users, posing significant risks to mobile security. This phishing strategy involves the use of Progressive Web Apps (PWAs) on both Android and iOS platforms, with Android users being particularly vulnerable due to the additional exploitation of WebAPKs. ESET’s latest investigation highlights a worrying trend where traditional phishing delivery techniques […]

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