Iraq holds its first census in nearly 40 years
The Iraqi census is scheduled for Wednesday and Thursday, and will provide sorely needed up-to-date demographic data for the country...Business
AI-Driven technologies drive operational excellence, helping meet sustainability goals
Industrial AI and digital technologies are revolutionizing energy infrastructure, helping companies across asset-intensive sectors achieve operational excellenceBusiness
99 percent of world live in areas with air pollution levels above WHO guideline limits
DUBAI, UAE - According to World Health Organization data, 99 percent of the world’s population lives in places where air...Leading businesses recognize that they have an important role in reducing air pollution alongside greenhouse gas emissions.
Business activity contributes significantly to air pollution globally but air pollution is not prioritized nor integrated into climate action.
Iran-Russia trade surges 18 percent to US$1.7 billion in 2023
Tehran, Iran--Trade between Iran and Russia has climbed 18 percent to US$1.7 billion in the first eight months of 2023.This...Jumping more than 40 percent up, the weight of trade between Iran and Russia was 3,748 million tons from March to November
Iran revealed that $616, 326 million worth of goods were exported to Russia, which shows 32% increase compared to the same period last year
McDonald’s eyes big expansion
The company plans about $2.5bn in capital expenditures in 2024.McDonald's will seek to effectively grow its network of namesake sites by about one quarter in what it called the speediest expansion in the brand history
For CosMc's - which McDonald's executives had teased in July - the company plans an initial store in Chicago in 2024 and nine others in Texas
Egypt to sign agreement on curbing methane emissions
Abu Dhabi, UAE--Egyptian Petroleum Minister Tarek el Molla announced an agreement on laying down a detailed road map for cutting...The agreement as per media reports will be signed by the the United States Trade and Development Agency (USTDA) within the framework of the COP28
The minister said that Egypt supported green hydrogen projects in order to promote North African country's drive to become a green hydrogen regional center
Saudi Arabia offers 30-year tax cut to businesses shifting hqrs to kingdom
Riyadh, Saudi Arabia - Saudi Arabia has rolled out a 30-year tax relief program aiming to lure multinational corporations to...Under the Regional Headquarters (RHQ) Program, participating companies will benefit from substantial tax incentives, including a zero percent rate on corporate income tax
The RHQ Program, launched initially in 2021, has already licensed over 200 companies to operate their regional headquarters from Saudi Arabia
Masdar eyes Europe for growth
It wants to build a supply chain between UAE and Amsterdam.It signed an agreement to explore the development of a green hydrogen supply chain between Abu Dhabi and Amsterdam to support Dutch and European markets
The green fuel is generated with green electricity from renewables like wind or solar, in a process that separates water into oxygen and hydrogen via electrolysis
Air cargo demand up 3.8% in October
Geneva, Switzerland - Global air cargo demand increased by 3.8% compared to October 2022, the International Air Transport Association (IATA)...Capacity was up 13.1% compared to October 2022 and 11.1% for international operations
International belly capacity, for example, rose 30.5% year-on-year on the strength of passenger markets
GCC equity markets record first gain in four months
The GCC equity market index rebounded notably in November 2023, with the MSCI GCC index rising 5.2%, led by Qatar...The GCC equity market index rebounded notably in November 2023, with the MSCI GCC index rising 5.2%, led by Qatar and closely followed by Saudi Arabia and Dubai.
This resurgence is a positive sign for the region's markets, which are showing robust growth and diversification efforts, particularly in sectors like Pharma & Biotech.
Volkswagen to reduce workforce
Volkswagen has some 675,800 employees worldwide."Over the coming years, we will need to reduce our workforce in a socially responsible way," the group's human resources chief Gunnar Kilian said
The focus would be on "partial retirement and early retirement schemes to the maximum extent possible," he added
BAT takes shock $32bn hit
The impairment charge sent BAT shares sinking 7.6 percent.Companies like BAT face plunging demand for cigarettes in Western markets, where high taxes, smoking bans and health fears persuade many consumers to give up smoking
The London-listed company added that its overall revenue growth for the current year was set to be at the "low end" of its previous guidance of between 3 and 5 percent
