Spain urges WTO meet in UAE to address de-globalization
ABU DHABI, UAE - Madrid wants the upcoming 13th Ministerial Conference (MC13) of the World Trade Organization (WTO) here next...Business Economy Geostrategy Global
Borouge full-year net profit $1bn
The firm posted third consecutive rise in quarterly earnings.Company News Business
Airports grouping ACI Asia Pacific calls for reopening borders
70% passenger loss is forecast for the Middle East which is reeling under lockdowns, travel, and quarantine restrictions and 56%...70% passenger loss is forecast for the Middle East which is reeling under lockdowns, travel, and quarantine restrictions and 56% for the Middle East
Airport revenues are predicted to decline by US$ 34 billion in Asia-Pacific and US$11 billion in the Middle East by the end of 2021
Facebook says will shut down facial recognition system
Face recognition technology could compromise privacy, target marginalized groups, and normalize intrusive surveillance, according to critics.Face recognition technology could compromise privacy, target marginalized groups, and normalize intrusive surveillance, according to critics
The news also comes as Facebook has been under intense scrutiny from regulators and lawmakers due to its platform abuses and user safety
‘Oil unlikely to hit US$100 in 2022’
The oil prices would average US$70 per barrel in 2021, Garbis Iradian, chief economist for MENA at IIF, tells TRENDS...Garbis Iradian, chief economist for MENA at Institute of International Finance (IIF), tells TRENDS in an exclusive interview that the prices would average US$70 per barrel in 2021
There are expectations of the US oil production recovery in 2022, which would increase the supply easing pressure of price
Zain to solidify 5G networks
Signs MoUs with Huawei, Nokia, Tata, BTAS and MSSP pact with Fortinet.The MoU with Huawei entails mutual cooperation for the full deployment of the 5G network within the SME sector.
Zain's agreement with Tata Communications includes joint projects related to SD-WAN and global contact centers.
Al Maryah Bank appoints advisor
Al Maryah Community Bank LLC, UAE’s first digital bank, has appointed Adeeb Ahamed as advisor to the Board Members. He...Al Maryah Community Bank, which started operations earlier this year, is a community oriented financial services provider
The Board comprises leaders from diversified sectors of economy, and Adeeb’s inputs as an Advisor will help improve the bank’s strategic direction
DP World and Indonesia Investment Authority plan $7.5bn long-term investment
DP World and the Indonesia Investment Authority (INA) have signed an agreement to form a consortium and working team to...The investments would include inland terminals, cargo parks, feeder network systems, landside transport and industrial zones.
They will also explore collaboration with the Indonesia Port Corporations (Pelindo).
Demand for films in Saudi Arabia grows, above 1,000 released in 3 years
There is a great demand from distributors for films in Saudi Arabia, which is borne by the fact that more...CEO of the General Commission for Audiovisual Media holds meet with Warner Bros EMEA head.
The participants say the film industry in the kingdom will witness a 'qualitative renaissance'.
DEWA to be listed on Dubai Financial Market in coming months
The listing is part of the Securities and Exchange Higher Commission’s strategy to increase the size of the stock market...The listing is part of the Securities and Exchange Higher Commission’s strategy to increase the size of the stock market in the Emirate to AED3 trillion
The move is likely to raise the competitiveness of bourses and encourage more initial public offerings
SHUAA’s insurance assets grow to $136m
The firm expects the assets to reach $500m within three years.SHUAA has managed the equity and debt portfolios of five major insurance firms.
The company is focused on strategically growing its insurance assets under management, said MD SHUAA.
Pfizer lifts 2021 forecasts, sees $36bn in Covid vaccine sales
Pfizer again lifted its 2021 profit and revenue outlook on Tuesday, bolstered by the latest surge in Covid-19 vaccinations, including...The drug maker now expects 2.3 billion dosage deliveries of the Covid-19 vaccine in 2021
Pfizer said higher forecast 2021 results reflects the boost from the Covid-19 vaccine, as well as the performance of Pfizer's broader business
