Global tax plans targeting super rich and tech giants stall under Trump
Paris, France -- Global tax plans targeting billionaires and multinational companies are running aground, with the United States torpedoing reforms...Technology Business Geostrategy
Google has illegal monopoly in ad tech, US judge rules
Washington, United States - A US judge on Thursday ruled that Google illegally wielded monopoly power in the online ad...Business
Sharjah Islamic Bank profit surges
It posted a 31% jump in net profit to US$229.13m in 2023.The bank's operating profits also recorded a 23 percent rise, reaching $554 million for 2023, up from $435 million in 2022
Its board of directors has proposed a 10 percent cash dividend, subject to approval at the upcoming general assembly meeting
Saudi Arabia to host WEF special meeting in April
Davos, Switzerland — Saudi Arabia will host a special meeting of the World Economic Forum (WEF) in Riyadh this April, Saudi...Speaking at the panel 'Saudi Arabia: The Course Ahead', Saudi minister Faisal Al Ibrahim said the event will focus on global collaborations
He underlined Riyadh's emerging role as a hub for various sectors and as a center for global thought leadership.
IEA says oil production to rise but demand to be halved in 2024
Paris, France - World oil supply will continue to rise this year, the International Energy Agency said on Thursday, as it...Much of the slowing demand has mirrored falling demand for post-pandemic travel demand in China, which drives much of the world's oil demand growth.
IEA added the world's oil supply will continue to grow due to "record-setting output" from the United States, Brazil, Guyana and Canada.
UAE ranks first in Arab world in labor-resilient countries, says report
Dubai, UAE - Against the backdrop of the World Economic Forum in Davos, Whiteshield announces the release of the Global Labor...As the world confronts the challenges of global warming and the transition to a sustainable future, the impact on labor markets looms large.
The direct consequences of climate change, including displacement, migration, and fluctuations have become increasingly pervasive.
Akasa Air orders 150 Boeing planes
Akasa Air will buy 737 MAX planes, which no Indian airline uses.Akasa Air chief said the 'historic' order would put the firm on the path to "becoming one of the top 30 leading airlines in the world"
Akasa has been a strong Boeing backer, having ordered 72 aircraft in 2021, and another four in 2023
Demand for lifestyle experiences in GCC has increased: SHG CEO
Dubai, UAE -- Sunset Hospitality Group (SHG) is more than just a collection of hotels, restaurants, and beach clubs. Renowned...Antonio Gonzalez, CEO of Sunset Hospitality Group said that Dubai remains a key area of focus for the Group.
The Group will now be entering Portugal over the next two months, its most recent market addition.
Google CEO says more layoffs are likely this year
SAN FRANCISCO, US - Google CEO Sundar Pichai has warned employees that more layoffs are in store at the search engine...Google laid off around 12,000 people this time last year, about six percent of its workforce, in the face of inflation and rising interest rates.
The company confirmed it is eliminating "a few hundred" positions from its global ad team, amid a push to use AI for efficiency and creativity.
Qatar’s IPI declines by 1.5 percent in November 2023
DOHA, QATAR – The Industrial Production index (IPI) of Qatar in November 2023 reached 91.7 points which is a fall...The IPI, which is released by the Planning and Statistics Authority, is a short-term quantitative index that measures the growth of various industrial sectors in the economy.
The relative weight of main economic sectors under this indicator include mining (82.46 percent), manufacturing (15.85 percent), electricity (1.16 percent), water (0.53 percent).
EDGE Group, São Paulo government partner on public security initiative
Abu Dhabi, UAE -- EDGE, one of the world’s leading advanced technology and defense groups, has announced that it will...The partnership was announced during a high-level delegation visit by senior government members to EDGE Group headquarters in Abu Dhabi.
The ‘Proof of Concept’ (PoC), with an initial phase of six months to validate the plan and facilitate adjustments, will have three strategic targets.
Oman Investment Authority launches fund worth US$5.19 billion
Muscat, Oman--The Oman Investment Authority (OIA) has unveiled a new fund called “Future Fund Oman” valued at US$5.19 billion.The fund...The fund, according to Oman News Agency, has a capital of $5.19bn to be utilised over five years, with $1bn every year
It will allocate 90 percent of its capital to invest in new or existing investment projects that prove to be economically viable
