Cerberus buys HSBC France retail
The takeover was finalized for an undisclosed amount.Company News Business
Qatar’s foreign merchandise trade surplus $4.58 billion in Nov 2023
Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...Business
OECD lowers global, US economic growth forecasts
The forecast for China remained unchanged at 8.5 percent. The growth prospects of Argentina, Brazil, Mexico, South Africa, South Korea...The recovery remains very uneven, with strikingly different outcomes across countries, OECD said.
Global gross domestic product has surpassed its pre-pandemic level following last year's Covid-induced recession.
Investment in agritech key to UAE’s food security
Investing in agricultural technologies can take the UAE closer to its goal of being one of the top 10 countries...Over 100 entities use organic farming techniques in the UAE, including advanced farms that utilize modern agricultural technologies.
The Abu Dhabi Investment Office is investing at least US$100m in agritech startups as part of their food security strategy.
Asian markets stabilize but Evergrande fears linger
The battle in Washington to raise the US debt limit was also fuelling concern that the government could miss payments...Dubai led declines among stock markets in the Gulf on Monday, as its main share index fell 1.2 percent.
Hong Kong's Hang Seng Index, which plunged more than three percent Monday, edged up 0.2 percent.
Covid-19 drives e-learning in GCC
There has been a massive growth in content creation and learners' demand in last two years as the pandemic puts...There has been a massive growth in content creation and learners' demand in last two years
E-learning is highly dependent on digital infrastructures, such as Internet usage and connection fees, which vary dramatically from one Arab country to another
Dubai Chamber adds 16,000 new members this year
Some 16,000 new companies have joined Dubai Chamber this year, bringing the total membership to more than 275,000.The membership growth is also a result of the various business-friendly measures and incentives introduced by the government in recent years
The number of ATA Carnets issued by the Chamber and received by the country, increased 5.1 percent over the same period, reaching 2,188 in the first eight months of 2021
Foreigners in Kuwait on commercial visit to get work permit now
The move is aimed at meeting growing demand for manpower by companies in the country. After all, the number of...Thousands of expats left Kuwait this year and have been unable to return due to the pandemic
This move is expected to offset that talent drain and attract more such talent into the country
Evergrande’s crash crunch stumps investors and homeowners alike
The once-mighty Evergrande Group has long been the face of Chinese real estate, surfing a decades-long property boom to expand...The once-mighty Evergrande Group has long been the face of Chinese real estate, surfing a decades-long property boom to expand into more than 280 Chinese cities
But it is now smothered by a $300 billion liabilities burden that has crushed its credit rating, share prices
Kuwait starts 100,000 bpd oil-gathering center
Kuwait is one of five countries that negotiated a higher baseline for its quota in a July 18 OPEC+ meeting.A gathering center is a facility that collects oil from a field to be transferred usually by pipelines
This gathering center is formally referred to as GC-31 and is located in in northern Kuwait
Amazon to hire 1,500 people in UAE as it expands business
Amazon, the US e-commerce giant, has announced that it would add 1,500 jobs in the United Arab Emirates to cope...The jobs, according to the company, will be created as it expands its fulfillment center storage capacity by 60 percent
This expansion is expected to create additional jobs through its sellers and delivery partners
Oman tax authority to fine VAT non-filers
Those who have not filed VAT returns would see a fine of up to OMR5,000 (around $13,000) imposed on them.The standard rate of VAT in Oman is 5 percent
It is among the lowest in the world
