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Zawya
24 minutes ago
- Zawya
Mideast Stocks: Gulf markets mixed as strong earnings offset US tariff concerns
Stock markets in the Gulf ended mixed on Monday, as investors weighed positive corporate earnings against concerns over U.S. trade policy changes. The European Union is exploring broader counter-measures against the U.S. as prospects of an acceptable trade agreement with Washington fade, according to EU diplomats. Investors had been hoping for some progress in trade talks ahead of U.S. President Donald Trump's August 1 tariff deadline; Commerce Secretary Howard Lutnick is still confident a deal could be reached with the EU. Saudi Arabia's benchmark index gained 0.2%, ending a nine-day losing streak, led by a 1.6% gain in sharia-compliant lender Al Rajhi Bank and a 1.2% increase in Saudi National Bank, as the duo reported a rise in quarterly net profit. But International Petrochemical Company declined 5.7%, after the firm turned to losses in the second quarter. If upcoming earnings reports are broadly positive, the market may rebound, Osama Al Saifi, managing director for MENA at Traze, said. Dubai's main share index dropped 0.8%, easing from a multi-year high, hit by a 3.7% slide in top lender Emirates NBD. Profit-taking weighed on the market, with noticeable pressure on the financial sector, Saifi said. "Investors could secure their profits after a long period of strong momentum ahead of the Q2 earnings releases." Air Arabia leapt 4.8% to a fresh record high after securing a bid to operate a new Saudi low-cost national airline, set to launch by 2030. In Abu Dhabi, the index fell 0.2%. Oil prices dipped slightly, with the latest European sanctions on Russian oil expected to have minimal impact on supplies while U.S. tariffs ensure demand concerns remain. The Qatari index closed 0.7% higher, with the Gulf's biggest lender Qatar National Bank gaining 1.5%. Outside the Gulf, Egypt's blue-chip index edged 0.2% higher, hitting a new record high. SAUDI ARABIA rose 0.2% to 10,981 Abu Dhabi fell 0.2% to 10,262 Dubai dropped 0.8% to 6,045 QATAR gained 0.7% to 11,022 EGYPT added 0.2% to 34,130 BAHRAIN was down 0.3% to 1,938 OMAN rose 1.5% at 4,743 KUWAIT was up 0.1% to 9,302 (Reporting by Ateeq Shariff in Bengaluru; Editing by Sahal Muhammed)


Zawya
24 minutes ago
- Zawya
HiRemoters delivers up to 80% savings in cost through AI-powered remote hiring platform
Cairo, Egypt – HiRemoters, the AI-powered tech remote hiring platform engineered by Sprints, announced major growth milestones delivering cost savings of up to 60% in the GCC, 75% in Western Europe, and 80% in the United States for global clients seeking remote tech talent. HiRemoters is built by Sprints, one of the region's leading ed-tech companies. The platform leverages six years of Sprints' talent development expertise and a curated network of over 150,000 vetted top-tier tech professionals. Using AI-powered matchmaking, HiRemoters connects businesses with remote-ready talent, whether for individual roles or full-scale team builds. 'HiRemoters was launched after growing demand from global companies to access our top-tier, affordable tech talent,' said Bassam Sharkawy, Chief Strategy Officer and Co-founder of Sprints. 'One U.S. client built an LLM using AI developers from HiRemoters - that's the kind of caliber projects we are able to deliver.' Unlike traditional outsourcing models with hidden fees, HiRemoters provides full transparency and direct client-talent engagement. The platform offers complete customization for role definitions, compensation, onboarding, and timezone alignment while automating complex workflows including compliant contracts, 48-hour onboarding, and multi-currency payroll. HiRemoters also provides Employer of Record (EoR) services, enabling businesses to hire globally without establishing local entities. The platform handles legal, payroll, tax, and benefits administration while giving clients complete control over the employee lifecycle. "Our goal is not only to help businesses scale but to enhance the remote work experience for everyone," said Ayman Bazaraa, CEO and Co-founder of Sprints. "We're investing in advanced collaboration platforms and next-generation AI recruitment tools." The company continues expanding its technology infrastructure and global talent network while maintaining its commitment to continuous upskilling through the Sprints platform. About HiRemoters is a global remote hiring platform that enables companies to hire, onboard, manage, and pay top tech talent worldwide, without the need to establish local entities or navigate complex local regulations. Powered by AI, it delivers seamless payroll, compliance, and Employer of Record services, efficiently connecting businesses with pre-vetted professionals. Developed by Sprints, and backed by Disruptech Ventures, EdVentures, and Falak.


Zawya
24 minutes ago
- Zawya
Orange Jordan sponsors the 12th National Technology Parade in support of innovation and youth digital empowerment
As part of its ongoing commitment to supporting and digitally empowering youth, Orange Jordan sponsored the 12th National Technology Parade (NTP), held at Al Hussein Technical University. The festival was first launched in 2007. The parade aims to foster creativity and innovation among students, encourage collaboration between universities and national and regional institutions, and promote professional ethics, teamwork, and career readiness. Orange Jordan's sponsorship of this parade reflects its pivotal role in supporting applied education and encouraging students to innovate and create. This aligns with the company's strategy to lead the digital future and empower youth to contribute to sustainable development. This year, the parade brings together 100 teams comprising around 400 students from various Jordanian universities. Participating in projects cover categories such as green and sustainable technologies, health and biomedical technologies, public safety and quality of life, defense and security technologies, gaming and entertainment, industrial technologies, educational technologies and e-learning solutions, social and business technologies, and innovations serving persons with disabilities. Orange Jordan is participating in the parade through a dedicated booth for the Orange Digital Center's Fabrication Lab, showcasing Orange's innovative solutions in digital manufacturing. The booth also aims to encourage youth to adopt technology as a tool for development and innovation, in addition to presenting students' previous projects. Through its sponsorship and participation in this parade, Orange Jordan emphasized the importance of directing innovation to serve the community, believing that true innovation contributes to improving the lives of individuals and society. Through such events, we strive to foster a culture of entrepreneurship and technology among youth, empowering them to develop innovative solutions that meet community needs and support Jordan's digital transformation journey. It is worth mentioning that the ongoing rotation of Jordanian universities in hosting this parade demonstrates its status as a leading national platform that brings together youth talents and innovations. It also contributes to establishing Jordan's position as a regional hub for innovation and entrepreneurship, reflecting the spirit of cooperation and partnership between the academic and private sectors in achieving sustainable development. About Orange Jordan Orange Jordan, with over 1800 employees across nearly 300 shops and locations throughout Jordan, strives to provide the best customer experience through an integrated set of digital solutions including fixed lines, mobile lines, internet, data, and Smart Life Solutions to around 4.6 million customers in Jordan. Orange Jordan is a subsidiary of Orange Global Group, which is present in 26 countries worldwide. In line with the Group's strategy 'Lead the Future' and through its positioning as a true responsible digital leader, Orange Jordan supports the national digital transformation vision. Orange Jordan prioritizes community service, and in this context, it implements a comprehensive CSR strategy that revolves around 4 pillars including digital education, digital inclusion, entrepreneurship, climate, and environment. In addition to serving individual customers, Orange Jordan offers tailored solutions for businesses through its sub-brand, (Orange Business). About Orange Orange is one of the world's leading telecommunications operators with revenues of 40.3 billion euros in 2024 and 127,000 employees worldwide at 31 December 2024, including 71,000 employees in France. The Group has a total customer base of 291 million customers worldwide at 31 December 2024, including 253 million mobile customers and 22 million fixed broadband customers. These figures account for the deconsolidation of certain activities in Spain following the creation of MASORANGE. The Group is present in 26 countries (including non-consolidated countries). Orange is also a leading provider of global IT and telecommunication services to multinational companies under the brand Orange Business. In February 2023, the Group presented its strategic plan "Lead the Future", built on a new business model and guided by responsibility and efficiency. "Lead the Future" capitalizes on network excellence to reinforce Orange's leadership in service quality.