Baidu cancels YY Live deal
The deal was originally expected to be completed by 2021.Company News Business
Qatar’s industrial sector PPI down in Nov on lower oil prices
Doha, Qatar -- Qatar's Producer Price Index (PPI) of the industrial sector in the country for November was 118.65 points,...Business Economy
Saudi state media companies to move from Dubai to Riyadh
The decision follows an earlier Saudi move to stop giving state contracts to companies and commercial institutions with Middle East...The decision follows an earlier Saudi move to stop giving state contracts to companies and commercial institutions with Middle East headquarters in any other country
According to reports, Al-Arabiya and Al Hadath TV channels have informed their employees that they plan to broadcast 12 hours a day from Riyadh by next January
True Global Ventures closes blockchain fund at $100m
The TGV 4 Plus fund, which has been oversubscribed, focuses on blockchain firms primarily in late-stage equity funding Series B...TGV is funded by 40 partners who contribute 27%, along with a number of entrepreneurs, business angels, family offices and institutional investors
Many limited partners of True Global Ventures are based in the Middle East
GCC can help shipping industry curb emissions
Saudi Arabia and the UAE are already off the starting mark in their efforts to supply alternative fuels to the...Hydrogen requires high-pressure tanks when stored as a gas or temperatures of -253°C when stored as a liquid
Ammonia can be used as marine fuel as the conversion process is economical and involves little fuss
New Oman mall to create 3,500 jobs
The Mall of Oman is said to be the country’s largest complex of its kind.The Mall of Oman has the only IMAX experience in the country
It will soon have global cafés and restaurants that offer more than 50 dining options
Tehran able to sell oil despite US sanctions, says minister
The US imposed its harshest sanctions on Iran three years ago as Washington, under President Donald Trump, unilaterally abandoned an...One of the ways to do this is to swap oil for goods or investment
This potential solution can also be used in other sectors and industries
Iran cuts natural gas exports to Iraq as per a six-month agreement
The decision is said to be based on an agreement with Iraq, and apparently follows prior notification. Iran used to...Iran notified the Iraqi side about this reduction two weeks ago
This export cut will continue for up to six months
Israel opens Chinese-operated $1.7bn port in Haifa
The port, to be operated by Shanghai International Port Group, is expected to bring competition to a sector plagued by...It is expected to enable larger classes of cargo ships, carrying 18,000 containers or more, to dock in Israel
About 99 percent of all goods move in and out of Israel over sea, and an upgrade is needed to maintain economic growth
Egypt gained most from Islamic Development Bank in 2020
IsDB also contributed to Covid-19 relief in 2020, where it approved financing of around $2.3 billion.IsDB gave out around $6.8 billion to various nations last year
Egypt’s share in that, at $1.13 billion, amounted to around 17 percent
Dubai sees real estate deals worth AED9.4bn; 146 plots fetch AED2.26bn
The DLD weekly report said 146 plots were sold for AED 2.26 billion, 1,080 apartments and villas were sold for...The DLD weekly report said 146 plots were sold for AED 2.26 billion, 1,080 apartments and villas were sold for AED 2.25 billion
Jabal Ali First recorded the most transactions for this week with 40 sales transactions worth AED 89.57 million, followed by Ras Al Khor with 30 sales
Egypt taps consortium for $6bn high-speed rail line
The consortium consists of Siemens Mobility, Arab Contractors, and Orascom Construction. Egypt’s National Authority for Tunnels has chosen the consortium...The project is expected to link two cities that are about 660km apart
Orascom estimates that the project will create 15,000 direct jobs
