Wednesday 27 October 2021

Yokogawa invests in Web Synergies to expand digital transformation capabilities

Yokogawa Electric Corporation has said it has invested in Web Synergies, a Singapore-based company that provides IT and integrated IT and operational technology (OT) solutions to many industries including oil and gas.   Both companies have been successfully coll


Saudi fintech investments top $340m in 12 months

Saudi Arabia’s financial technology sector grew at an accelerating pace over the past 12 months, as the number of fintech companies increased by 37% and investments topped SR1.3  billion ($347 million), said Fintech Saudi  in a new report. “Despite the excep


DFSA introduces framework for investment tokens

The Dubai Financial Services Authority (DFSA) has launched its regulatory framework for Investment Tokens, reflecting the proposals outlined in Consultation Paper 138 issued in March 2021. The move and forms the first phase of the DFSA’s Digital Assets regime, reported Emir


Tech Mahindra Q2 revenues up 16.4%; profit jumps 26.0%

Recording its highest sequential growth in a decade, Tech Mahindra Ltd, a specialist in digital transformation, has posted a YoY revenue increase of 16.4% and a profit jump of 26%.   The company’s revenue at $1472.6 million was up 6.4% QoQ and 16.4% YoY. R


Sohar International partners with Saudi Exim Bank

Sohar International, a leading bank in Oman, recently signed an agreement with Saudi Export-Import Bank to establish a framework of cooperation between the banks for the furtherance of their respective mandates. Signing the memorandum of understanding (MoU) and representing Saudi


Policies key to post-pandemic recovery in Mena: IMF

The Mena region’s post-pandemic progress and the policies that can help secure a more sustainable, inclusive recovery, said the International Monetary Fund (IMF) in a new report. The Middle East & Central Asia Regional Economic Outlook report was launched during an expe


UAE backs joint GCC action to increase trade exchange

The UAE is committed to supporting joint GCC action in various development fields as it is a steady policy of the country and a main driver for enhancing economic and commercial partnerships amongst GCC member states, said a top official. Dr Thani bin Ahmed Al Zeyoudi, the UAE&rs


Lower oil output ‘to affect GCC GDP recovery in 2021’

GCC economic growth witnessed a downward revision of 20 bps for 2021 to a growth of 2.5% on the back of lowered forecast for oil GDP for the region by 130 bps to a marginal growth of 0.3%, a report said. Non-oil GDP forecast was raised by 30 bps to 3.8% and a faster recovery in 2


5,000 participants for Future Investment Initiative

The upcoming fifth edition of Future Investment Initiative to be held under the theme “Invest in Humanity”, in Riyadh, Saudi Arabia from October 26-28 will bring together more than 2,000 missions and 5,000 participants. The 5th edition will discuss ways to invest in c


5th EU-GCC Business Forum concludes at Expo 2020

Businesses and government leaders from the European Union and the GCC came together at the 5th EU-GCC Business Forum that focused on how to drive the post-pandemic recovery in the EU and the GCC towards a green and digital transition. The event took place at Expo2020, Dubai, UAE

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