• George Soros hands over control of his $25bn empire to son Alexander

    Billionaire investor George Soros had handed over control of his US$25 billion empire to his younger son Alexander Soros - aka Alex. There were doubts in the market that George Soros, who is 92, will ever give up control in his lifetime, according to a report published in the Wall...
  • DEWA extended 64km water transmission pipelines in 2022

    DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) extended water transmission pipelines of 64 kilometers lengths in several areas here in 2022 at a cost of around US$97 million (AED 358 million). The pipelines have a diameters of 600, 900 and 1200 mm in different areas across Dubai. The...
  • Dubai Municipality unveils new online system for building permits

    Dubai, UAE-- Seeking to enhance the emirate's position as a global pioneering city in adopting the latest technology in the building sector, Dubai Municipality has launched a new online system for building permits and control services aimed at streamlining procedures for customers in the emirate. The system is aligned with...
  • Japan plans export control measures for chip equipment

    TOKYO, JAPAN -  Japan on Friday unveiled planned export controls on 23 items used to make semiconductors, following US pressure for countries to restrict Chinese access to the technology. The move was immediately slammed by Beijing, which warned against moves that "politicize, instrumentalize and weaponize" trade. It comes as Tokyo confirmed...
  • UAB 2022 net profit at US$42m

    Total operating income rose 11% in 2022 compared to 2021.
  • New bank reforms reveal fraudulent dollar transactions: Iraq PM

    Iraq's Prime Minister Mohammed Shia al-Sudani has said the country's new banking regulations have revealed fraudulent dollar transactions made from his country. In recent months the country has been seeking to make sure that its banking system is in sync with the international electronic transfer system.
  • Russia’s Rosneft sues Germany over refinery seizures

    Russian oil giant Rosneft has filed a complaint against the German government for taking control of its German-based refineries, a court said, as energy tensions run high following Moscow's war in Ukraine.
  • Microsoft shuttering LinkedIn in China as rules tighten

    The US-based company will replace LinkedIn in China with an application dedicated to applying for jobs but without the networking features.
  • Most forest fires under control: Algerian authorities

    Algeria is Africa’s biggest country by surface area, and although much of the interior is desert, the north has over four million hectares of forest, which is hit every summer by fires. Last year some 44,000 hectares went up in flames. Firefighters were still struggling on Sunday to put out...
  • TAQA’s net income shoots up 42 percent to $790m in first half

    TAQA, the Abu-Dhabi government’s energy holding company, has reported a 42 percent jump in its net income for HI 2021 to $790 million compared to the same period last year, after a big contribution from the oil and gas segment.