Tesla suspends production in Germany
Houthi attacks in the Red Sea caused a shortage of parts.Business
Infosys lowers revenue forecasts
Its net profit fell 7.29% Y-o-Y in the three months to December.Company News Business
Qatar to host its own version of Geneva Motor Show
The organizers of the Qatar Geneva International Motor Show intend the event to take place every two years.The first edition of Qatar Geneva International Motor Show is planned for the autumn of 2022 or 2023
The final dates are expected to be confirmed in the coming weeks, and the full concept will be revealed during GIMS 2022
Iraq to rid its power woes with solar energy
Iraq has signed a deal with China to build a set of solar power plants that would produce 2,000 MW...The first plant will have a capacity of 750 MW, and the country will add more plants until it hits the 2,000 MW target
Writing on a blog Iraq’s prime minister Mustafa Al-Kadhimi said this was one of the first such projects in the country
SRMG taps Japanese firms
It has struck a content deal with Japanese publishing houses.The partnership will enable SRMG to establish official channels with Shogakukan, Shueisha, and Kadokawa
This will let it adapt and localize global content for Arab audiences
Saudi banks cheer recovery with surge in loans
Driven by an increase in net loans and return on equity in the second quarter, Saudi Arabian banks are sitting...Saudi lenders increased their loan books by a net 13.1 percent from the previous three months
Average return on equity was 11.0 percent
More women in EGA management
EGA plans to have women in 25% of its supervisory roles.Two members of EGA’s Executive Committee are women
EGA also employs more than 400 women around the world
Obhur Bay, the go-to spot for pleasure seekers
To beat the sizzling summer heat, Obhur Bay is a go-to destination for many in Saudi Arabia. It is a...Surfing takes on a unique characteristic in the bay, as, in order for people to safely enjoy the sport, they are required to be highly skilled in terms of guiding the board
Boat and jet ski competitions are also held throughout the year, and many resorts and hotels are found along the 11-km-long bay
Plot of land on Red Sea sells for $352.7m
In one of the largest real estate deals in Jeddah this year, the Saudi Oger Company's "Arjuwan Red Sea Project"...The value of the endeavor amounted to more than $9.52mln for the land exceeding 281,000 sqm in a privileged location in the Alshatei district
The Arjuwan Red Sea Project is one of the most promising and ambitious real estate projects in Jeddah
Oman sets terms for top hotels to open event halls
Four and five-star hotels in Oman may open meeting and celebration halls, but must follow certain restrictions.Celebration and meeting halls in top hotels can function with a maximum of 35 percent capacity
The hotels would have to allow entry to only those fully immunized with vaccines approved Oman
Lebanon taps Dubai’s ENOC for fuel swap
Lebanon is expected to use ENOC’s fuel to generate electricity, as the Iraqi oil is deemed unsuitable for the process.As part of the deal, Lebanon will give ENOC 84,000 tons of Iraqi high-sulfur fuel oil
In return, the country will receive 30,000 tons of Grade B fuel oil and 33,000 tons of gasoil
Israel gives hospitals $31 million to end partial strike
Finance Minister Avigdor Liberman said the Treasury had transferred the amount to the public hospitals.Staff and administrators at these hospitals have been protesting against the government’s failure to provide adequate healthcare funding
Since Wednesday morning, several public hospitals in Jerusalem have not been admitting patients from brought by the emergency services
