Wednesday , 22 November 2017

Tag Archives: Featured

Amazon’s technology head to speak at next week’s GITEX

Amazon’s chief technology officer, Werner Vogels, has been recruited to deliver a keynote speech at this year’s GITEX Technology Week. Vogels is set to discuss Amazon’s growth from a start-up to the world’s fourth-biggest company by market capitalisation, according to the Financial Times Global 500 rankings. Amazon has also taken a major stride into the Middle East this year following …

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Egypt strong, Saudi bolstered by $12.5bln sovereign bond issue

Egypt’s stock index climbed on Thursday ahead of a central bank meeting on monetary policy later in the day, while the banking sector helped carry the Saudi index higher after news that the government had priced a $12.5 billion international bond issue. The Egyptian central bank was likely to keep key interest rates unchanged at its meeting, a Reuters poll …

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North Africa set to adopt five-year plan to boost youth employment: ILO

The United Nations labour agency has warned that countries in North Africa need to adopt a broader, more concerted response to tackle the crisis of youth unemployment, with the youth unemployment rate now standing at 28.8 percent, twice the global average. “Arguably, the single biggest global development challenge in the decades to come will be the need to integrate hundreds …

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Amazon to open data centers in Middle East by early 2019

Amazon Web Services (AWS), an Amazon.com company, has announced that it plans to open an infrastructure region in the Middle East by early 2019. The new AWS Middle East Region (Bahrain) will consist of three Availability Zones at launch. Currently, AWS provides 44 Availability Zones across 16 infrastructure regions worldwide, with another 14 Availability Zones, across five AWS Regions in …

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New $250 million Dubai tech fund to target 15 investments

The new $250 million technology investment fund launched on Wednesday by Middle East Venture Partners (MEVP) will invest in about 15 companies, including a number of its existing portfolio companies, CEO Walid Hanna has said. Speaking to Zawya on the sidelines of the launch in Dubai, Hanna said he was “absolutely confident” of being able to source enough investible businesses. …

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Egypt: The Economy Is Gathering Strength

Egypt launched a reform program when its economy faced rising imbalances that led to high public debt, a widening current account deficit, and declining official reserves. “The Egyptian authorities have embarked on an ambitious reform program and have taken decisive measures aimed at restoring macroeconomic stability and sustainable public finances. At the same time, by strengthening social protection measures, they …

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Smartphone users buzzing after Saudi Arabia unblocks Internet calls

Saudi smartphone users were calling out with joy this week after the government lifted a ban on apps that allow video and voice services. Minister of Communications and Information Technology Abdullah Al-Swaha earlier this month issued a directive to unblock calling apps that have met regulatory requirements, with users able to access them from Wednesday. The move will make the …

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Exponential growth seen in GCC assets under management

Dubai is set to reinforce its status as the region’s leading financial hub with new legislation and regulation expected to attract inward investment as the GCC is forecast to see an exponential growth in assets under management to nearly $111 billion by 2020, a new study reveals. While fund managers in the UAE are expected to see their asset under …

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Jobs campaign boosts career opportunities for Saudis

The Kingdom’s drive to localize jobs has been ramped up; just go to various establishments and you will see that jobs previously employing expat workers are now being held by Saudi nationals. But the Kingdom does not stop there as it continues to look for ways and means to generate employment opportunities for the increasing Saudi population. The Ministry of …

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Plans moving forward for the European Union’s ‘House of Europe’ in Dubai

Plans to build a commercial property in Dubai for the European Union (EU) are currently underway with a construction tender expected next year, the project’s developer, Kleindienst Group, has said. The venture, currently awaiting building permission, is designed to be a ‘wood-only’ high-rise in the United Arab Emirates (UAE). Thomson Reuters Projects reported in July last year that Dubai-based developer …

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