Saudi, UAE report highest levels of gross debt
Among the Arab countries, Egypt recorded the highest debt-to-GDP ratio of 92.7 percent while US and China are on an...Business Economy Infographic
False tweet from US regulator briefly sends bitcoin soaring
The jump in the price of bitcoin to almost $48,000 came immediately after the SEC published a message on its...Business
Apple appeals verdict in App Store battle
The verdict ordered Apple to loosen control of its App Store payment options but said Epic failed to prove any...The companies had opted for a so-called bench trial in which a judge rather than a jury hears the evidence and decides on a verdict.
Apple can still mandate that its payment systems is used for in-app transactions.
High oil prices lift Saudi index to 14-year high
The main Saudi stock index closed trading on October 7, with an increase of 19.45 points, to close at the...The next day, the Saudi index increased 0.1 percent, with Al-Rajhi Bank rising 1.6 percent and the Saudi National Bank rising 2.5 percent due to stable oil prices
The rise in oil prices drove the Saudi stock market to its highest level in 14 years
DP World and Saudi Ports Authority to give Jeddah Islamic Port a makeover
Dubai Ports World and Saudi Ports Authority (Mawani) have come together to expand the capacity of Jeddah Islamic Port.The development work will be carried out in four phases, with the project scheduled to be completed by 2024
It includes improvements that will enable the terminal to serve five ships simultaneously and deal with the largest container ships
ACWA Power listed on Saudi bourse
ACWA Power shares can be traded on Tadawul from Monday.ACWA Power will be allowed a daily price fluctuation limit of 30 percent and a static price fluctuation limit of 10 percent both ways
After three days, the daily price fluctuation limit of 30 percent will come down to 10 percent, while the static price fluctuation limit will not apply
India selling Air India to Tata conglomerate for $2.4 billion
Tata had founded the airline as Tata Air in 1932, with the first flight piloted by Tata's eponymous chairman himself....The government is also selling a 50 percent stake in Air India SATS Airport Services, which provides cargo and ground handling services.
New Delhi is seeking to lease state-owned assets to the private sector to raise $800 billion.
Salaries of Saudi staff leap up 5.2 percent in Q2, expats earned lesser
Average monthly salaries of Saudi workers have grown by 5.2 percent to SAR 10,490 during the second quarter of 2021,...On a quarterly basis, the salaries declined by 1.03% when compared to their level in Q1-21 at SAR 10,600
Meanwhile, the average monthly salaries paid to expatriates in the kingdom fell by 1.08% YoY to SAR 4,091 in the April-June period
YouTube Music tops 50 million subscribers
YouTube Music trails rivals Spotify, Amazon and Apple. The company said in June it has paid more than $4 billion...Spotify had 32 percent of the global music streaming market in the first quarter of this year.
The overall number of streaming music service subscribers climbed more than 19m to a total of 487m in Q1.
UN official lauds UAE for resolve to cut carbon emissions to zero by 2050
The United Arab Emirates will aim to achieve net-zero emissions by 2050, a plan commensurate with the country’s 2050 Strategic...UAE aims to reach net zero greenhouse gas emissions by 2050
The initiative, announced at Expo 2020 Dubai, aims to underpin dynamic economic growth alongside positive environmental impact
Fedex arm plans Saudi growth
FedEx Express is a subsidiary of FedEx Corp.FedEx Express will invest more than SAR1.5 billion ($400 million) into the Saudi economy over the next 10 years
This investment will be through talent management as well as local operations and infrastructure
Google to stop pairing ads with climate change misinformation
The new policy for Google advertisers, publishers and YouTube creators will prohibit the platforms from helping people make money from...The new policy for Google advertisers, publishers and YouTube creators will prohibit the platforms from helping people make money from content that denies climate change
The internet giant added that the policy change aligns with efforts by the company to promote sustainable practices and confront climate change
