China edges out Japan as world’s top vehicle exporter
In recent years, China's auto sector has grown remarkably largely because of massive investments in electric cars, an area where...Business
Norway’s sovereign wealth fund posts record US$213bn profit
Oslo, Norway - Norway's sovereign wealth fund, the world's biggest, said Tuesday it raked in a record profit of 2.2 trillion...Business Economy Global
Dubai court directs Nissan to pay $354m to Al Dahana in damages
A court in Dubai has directed Nissan Motor Co. Ltd. and Nissan Middle East to pay $354 million as compensation...The case sought compensation for damages suffered due to breach of contract allegedly committed by Japanese automaker Nissan
The Dubai court issued a precautionary attachment order over goods and moveables
DMCC sells a rough 118-carat diamond for record $5.2 million
Dubai Multi Commodities Centre (DMCC) has sold a 100+ carat rough diamond for $5.218 million (US$ 44,004 per carat) in...The 118.58-carat type IIa stone was viewed by top diamond trading companies from Asia and Europe.
During one tender event in Dec. 2020, $87 million worth of rough diamonds were sold at Dubai Diamond Exchange.
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...LinkedIn was given a deadline by Chinese internet regulators to better oversee content on the site.
Aside from being a venue for finding jobs, LinkedIn is a place for exchanges over business developments or news.
Israel readies for delivery drone traffic jams
Israeli companies are tapping air force veterans’ expertise to avoid collisions in increasingly crowded skies as they look to start...Israel has a public-private initiative worth 20 million shekels, or about $6 million to advance its drone technology
As part of it, three drones were delivery-tested earlier this week
CBD and Infinios announce pact
Both will work to support the growing fintech market in UAE.Achieving the financial inclusion objective of the UAE one of the aims behind partnership.
The partnership will help Infinios to expand its regionally unique banking-as-a-service solution (BaaS).
Arab influencers use Instagram for global branding
As the 'influencers' phenomenon gets popular on social media, many of them in the Arab world have ridden the Instagram...Instagram is currently one of the most powerful channels for brands and SMBs
In the post-pandemic era, brands can be developed and sustained without physical stores
UAE discusses trade partnership with South Korea
The UAE and South Korea have discussed the prospect of pursuing a Comprehensive Economic Partnership Agreement to strengthen economic ties,...The negotiation process for this agreement is set to begin soon
It is expected to cover issues like market access to goods and services, ecommerce, and carbon neutrality
ADQ to buy remaining 20 percent stake of Daman
ADQ has entered into a definitive agreement to acquire the remaining 20 percent equity stake of The National Health Insurance...Since 2006, Daman has grown to become the nation’s largest health insurance provider
As a partner to ADQ, Munich Re will continue to be Daman’s reinsurer
Egypt ties up with Japan, France to build 500 MW wind farm
A consortium of companies has signed a 20-year deal with the Egyptian Electricity Transmission Company (EETC) to develop, construct and...The Nasdaq Dubai and Egypt stock exchange listed company did not disclose a value for the project
The project is subject to financial close, after which the wind farm will be implemented in 30 months
A deposit to fund green projects in Middle East
HSBC UAE has managed to secure the first green deposit from Saudi British Bank (SABB) through its new program dedicated...The deposit will be used solely to finance green initiatives
HSBC launched in June its Green Deposits offering for commercial and institutional clients in the UAE
