GM reports US sales dip, that of EVs grew
The big Detroit automaker reported 659,601 US sales during the period.Company News Business
Microsoft cutting more jobs from its gaming unit amid industry layoffs
San Francisco, United States- Microsoft is cutting about 650 more positions from its gaming unit as it continues to tighten its...Business
BCI’s subsidiary secures US$100m loan from SIDF
RIYADH, SAUDI ARABIA - Basic Chemical Industries Co.'s (BCI) subsidiary Chemical Marketing and Distribution Co. Ltd. secured a loan from the Saudi...The US$100 million loan has a duration of seven years and three months starting from October 8, 2025.
BCI mortgaged all fixed assets of the project as guarantees for financing, in addition to a corporate guarantee.
Saudi EVIQ unveils R&D facility
It will be used to test a range of EV chargers and software.The CEO of EVIQ said that with the setting up of R&D facility the company was paving the way for the growth of a sustainable EV ecosystem in Saudi Arabia
The company said that the facility will serve as a hub for developing the expertise and knowledge in EV charger technology, bolstering the EV market in the kingdom
Russia’s Gazprom sets new daily record for gas supplies to China
Moscow, Russia--Gazprom has set a new record for daily gas supplies to China via the Power of Siberia pipeline on...According to Gazprom, supplies are made under a bilateral long-term gas purchase and sale agreement between the oil company and China
The company added that since November it has ramped up the volume of gas supplies to China as per the previously signed additional agreement
Nissan to export EVs globally
It would sell China-developed EVs all over the world.The automaker is looking to export the line-up of existing internal combustion engine vehicles and pure electric and hybrid cars
China accounted for just over a fifth of Nissan's worldwide sales of about 2.8 million vehicles over the first 10 months of the year
GCC media outlets think outside the box to stay afloat
Reeling from a calamitous drop in advertisement revenues and public trust, news media organizations are reworking strategies to create "niche"...Many believe news media outlets have been distracted from their role to safeguard space for informed debate on public issues
Several well trusted media outlets with deep pockets are battling against thinning revenues and being forced to think differently
Fintech leads MENA startup boom with historic funding
Startups in the MENA region secured a staggering $764 million in funding in November 2023, demonstrating the region's growing influence...Startups in the MENA region secured a staggering $764 million in funding in November 2023, demonstrating the region's growing influence in the global startup ecosystem.
This surge, led by the fintech sector and supported by global investors, underscores the vibrant entrepreneurial spirit and innovation driving the MENA region's growth.
Plan to end e-vehicle subsidies sparks anger in Germany
BERLIN, GERMANY - The German government on Sunday faced a backlash after abruptly ending an electric car subsidy scheme in a...The economy ministry said on Saturday that Sunday would be the last day prospective buyers could apply for the scheme.
Under the scheme, the government paid out thousands of euros per customer to partially cover the cost of buying an electric car.
King Abdulaziz International Airport top Saudi performer in November
Riyadh, Saudi Arabia -- King Abdulaziz International Airport in Jeddah, King Fahd International Airport, Abha International Airport, Al-Ahsa International Airport...Among international airports with more than 15 million passengers annually, King Khalid International Airport in Riyadh bagged the second place with 82% compliance rate.
For domestic airports, Gurayat Airport topped with a 100 percent compliance rate, surpassing peers in terms of total average waiting time for flights departing and arriving.
SAMA issues rules regulating ‘buy now pay later’ companies
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has issued rules for regulating buy now pay later (BNPL) companies,...Under these rules, BNPL activity is defined as "a type of financing that allows a consumer to purchase goods or services without a term cost payable by the consumer".
The rules aim to regulate the licensing of BNPL companies and set minimum standards and procedures required to offer BNPL services.
Qatar Airways and Asian Football Confederation sign partnership deal
Doha, Qatar--Qatar Airways Group and the Asian Football Confederation (AFC) have signed a global partnership set to transform the fan...The airline said that the partnership will run from 2023 to 2029 in time for the AFC Asian Cup Qatar 2023, which kicks off next year in January
Qatar Airways CEO said that the agreements marks a shared commitment to linking up people across borders and promoting competitive sportsmanship.
