Banco Santander posts US$12bn profit
It made record profit on the back of higher interest rates.Business
UAE and UK seek to boost economic cooperation
Abu Dhabi, UAE-- Looking to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri,...Business Economy
Facebook says some users struggling to access its services
Facebook did not provide details on the cause or scope of the problems, which caused users to flock to Twitter...Facebook did not provide details on the cause or scope of the problems, which caused users to flock to Twitter to voice frustration
Hundreds of millions of people were unable to access Facebook, Instagram or WhatsApp for more than six hours on Monday
GDP of Arab economies down 3.8 percent: World Bank
The region’s average real GDP per capita is forecast to increase by only 1.1 percent in 2021 after declining an...Thirteen out of 16 countries in the region will have lower standards of living in 2021 than their pre-Covid levels.
Pandemic losses are calculated by comparing where the region’s GDP would have been if the pandemic had not hit, the bank said.
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
