Business - TRENDS Mena

TikTok to offer in-app shopping with Shopify
The social media app will expand into e-commerce in partnership with Shopify
The social media app will expand into e-commerce in partnership with Shopify
The news comes amid rising interest in "social commerce" that is expected to be worth some $36 billion in the US this year
Samsung announces $205 billion investment plan
The tech giant is South Korea's largest conglomerate and its overall turnover is equivalent to a fifth of the national...
The tech giant is South Korea's largest conglomerate and its overall turnover is equivalent to a fifth of the national gross domestic product
Samsung Electronics, the flagship subsidiary of the Samsung Group, is the world's biggest smartphone maker
High cost of non-stop flying shakes up aviation
The global aviation industry has been booming for the last few decades now. But the unprecedented growth in jets flying...
The aviation sector generates 2-3% of global carbon emissions
Industry leaders pledged to halve net CO2 emissions to 2005 levels by 2050
Bahrain’s rich own half of its total wealth
Nearly half of Bahrain’s wealth, of $69 billion, is possessed by its super-rich citizens, according to Boston Consulting Group (BCG).
Ultra high-net-worth individuals (UHNWIs), who are valued at $100m or more are expected to own 44pc of overall financial wealth in the kingdom by 2025
the upper high-net-worth ($20m to $100m) and lower high-net-worth ($1m to $20m) individuals are expected to own 9pc and 15pc of financial wealth in the kingdom respectively by 2025
Kuwait looks to regulate local used-car trade market
The regulation will look to limit the maximum number of cars non-Kuwaiti residents in the country can own.
Local authorities were recently alerted to people in the country with up to 50 vehicles in their names
These people were apparently trading in used cars without a proper license
Abu Dhabi Judicial Department pulls up banks over loan guarantees
Failing to take guarantees is a violation of the requirements and controls regulating the granting of loans, said the department.
In many cases already filed, courts found the guarantee provided by a borrower not proportional to the value of the loan
In some other cases, banks apparently disbursed money against the borrower’s guarantee or his identification papers only
Abu Dhabi’s IHC looks at ‘few billion dollars’ deals
International Holding Co (IHC), Abu Dhabi’s largest conglomerate, is looking at acquisitions of various companies in different sectors.
IHC, now the most valuable company on the Abu Dhabi bourse with a market capitalization of $72bln, is also considering a 2022 IPO
IHC is also looking at three or four targets in the food sector, as well as eyeing targets in the healthcare and leisure and retail sectors
Qatar’s Islamic lender buys 5% stake in Al Rayan
Masraf Al Rayan, Qatar’s Islamic lender, has bought an additional 5 percent stake in Al Rayan (UK) from Qatar Holding...
The Islamic lender’s shareholding in Al Rayan rises to 75 percent
This represents a purchase of 5,000,000 ordinary shares of GBP1 par value
Iran eyes Caspian Sea gas reserve for Europe supply
The exploration is being carried out by the Khazar Exploration and Production Company, or KEPCO.
The Chalous Superstructure Drilling and Exploration project is expected to be completed over the next couple of years
It will apparently be the second-largest natural gas block in the Caspian Sea, just behind the Alborz structure
Oil tanker blows up in fire on Makkah-Jeddah expressway
A speeding car rammed into an oil tanker, causing the tanker to explode into a ball of fire on the...
A video posted to the Makkah region’s official Twitter account showed cars driving by a raging fire stretching across the central divide of the highway
Civil Defense teams at the site eventually managed to control the fire, authorities announce soon after 2 a.m. on Tuesday

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