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FINANCE & ECONOMY

Global corporate capex expansion to slow down this year
June 24, 2019

JEDDAH — Global corporate capex increased by a mere 2% last year, and is estimated to expand only 3% in 2019, the latest forecasts from S&P Global Ratings disclosed Sunday. The forecasts further out need to be treated with caution, given that S&P analysis has shown a tendency for market analysts to underestimate capex beyond the first forecast year, but current projections point to a 1% decline in spending for 2020 and 2021.

While the detail"...

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Saudi Arabia offers permanent residency to expats for $213,000
June 24, 2019

Saudi Arabia has opened applications for a permanent residency programme designed to attract foreign investment to the kingdom, but it will cost a hefty 800,000 riyals ($213,000).

There’s also a cheaper option, with a one-year renewable residency costing 100,000 riyals.

The so-called premium residencies"...

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Coroli Awarded ‘Superbrands’ Status
June 24, 2019

Coroli, the region’s leading edible oil brand, was awarded Superbrands status at a gala event ceremony recently held in Dubai, UAE. The award was received by Dr. B. R. Shetty, Founder & Chairman of BRS Ventures and owner of Coroli brand. At the 15th annual Superbrands event, Coroli was recognised as a leading brand in UAE for its quality, performance and engagement with customers.

Accepting"...

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10 Startups from Africa and the UAE Selected to Participate in GBF Mentorship Programme
June 24, 2019

A total of 10 startups from Africa and the UAE have been selected to participate in Dubai Chamber of Commerce and Industry’s Global Business Forum (GBF) Mentorship Programme which aims to foster cross-border cooperation and help participants expand their global presence.

Five UAE startups, members of Dubai Startup Hub, were selected to take part in the three-month programme, each"...

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AURAK Actuates with UTA
June 24, 2019

The American University of Ras Al Khaimah (AURAK) Department of International Programs and Partnerships (DIPP) hosted a visit for a University of Texas-Arlington (UTA) delegation consisting of Dr. Curtis Andressen, the Vice Provost, and Dr. Bahram Khalili, the Associate Professor of Instruction, to discuss the possible expansion of their previously established agreement to include the Computer Science field and student and faculty exchange opportunities.

Initial"...

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S&P Global Ratings best credit rating agency for sustainability, governance
June 23, 2019

DUBAI — S&P Global Ratings has been recognized as the best credit rating agency for integrating sustainability and corporate governance factors by the Independent Research in Responsible Investment (IRRI) Survey 2019. This is the first time the IRRI survey has included a ranking for credit rating agencies.

The IRRI is an annual survey published by Extel and SRI-CONNECT on the economics and dynamics in sustainable investment and corporate governance."...

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Al Kathiri wins funding for new Saudi-Italian JV plant
June 22, 2019

Al Kathiri Holding Company said one of its subsidiary companies, Alian Industry Company, has won initial approval from Saudi Industrial Development Fund (SIDF) to finance the construction of the factory that will manufacture an advanced building system with the help of Italian technology in Sudair city.

This is in line with the Ministry of Housing (Motivating Building Technology) and the"...

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Over 40 global firms vie for giant Jubail utility project
June 22, 2019

Saudi Water Partnership Company (SWPC) said a total of 43 leading utility developers or developer consortiums from across the globe have submitted bids for the development of an independent water and power project (IWPP) coming up at an area 18 km south of the Jubail Industrial City on the Arabian Gulf Coast.

Of these, 11 are locals with the list being spearheaded by Saudi heavyweight Acwa"...

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INDX Releases 2019 Passive Income Report, Expands Into Staking and DPoS
June 22, 2019

  • Report compares crypto passive income to traditional opportunities
  • Masternodes offer a potential yield of more than 40% compared to around 3% from government bonds and stocks
  • INDX token enhanced with the addition of DPoS and Staking assets

INDX, a London-based crypto passive income fund, has released a report comparing traditional assets with their cryptocurrency counterparts that generate a regular payout. Read the report"...

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Shopify Unveils New Innovations to Transform Commerce for Merchants and Consumers Globally
June 21, 2019

(AETOS Wire)-- Today, Shopify Inc. (NYSE:SHOP) (TSX:SHOP), the leading multi-channel commerce platform, unveiled the latest in commerce technology at Shopify Unite, the annual conference that brings together the company’s global partner and developer community.

“Shopify’s real power comes from the variety and strength of our ecosystem,”"...

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