Tesla reports drop in auto sales
The decline was in part due to a weak sales market in China.Business
New shipping service in Saudi Arabia launched
RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) has announced the addition of the new shipping service 'NRS' by...Business Geostrategy Global Tourism
Solutions+, EIH sign MoU
The pact will help in creating job opportunities in the UAE.The pact outlines a strategic cooperation that contributes to supporting and developing closer ties between the two companies.
The agreement will help improve efficiency in Business Process Outsourcing, Digital Management and Facility Management.
EGA begins work on pilot plant to convert bauxite residue into manufactured soil
ABU DHABI, UAE – Emirates Global Aluminum (EGA) on Thursday announced the construction of a pilot plant to convert bauxite...The pilot plant will use technology to neutralise caustic bauxite residue into an environmentally benign raw material in hours.
This optimised bauxite residue is the main ingredient for the manufactured soil, which EGA calls turba.
Masdar City completes first net-zero energy commercial building in region
ABU DHABI, UAE - Masdar City, a sustainable urban community and a business and technology hub here, has just completed...NZ1 is designed to consume 53 percent less energy than an equivalent conventional building.
Solar panels will generate 101 percent of the building’s annual energy needs, making it net-zero energy.
Bahrain’s BIBF partners with UpGradelle to boost digital transformation
Manama, UAE--The Bahrain Institute of Banking and Finance (BIBF) has partnered with UpGradelle, a leading French-based consultancy firm, to develop...The BIBF intends to equip the country's financial and business sectors with skilled leaders that can "catalyse the change in business operations"
CEO of the BIBF said the collaboration will strengthen their position as a leader in delivering state-of-the-art training and development solutions
Social media plays key role in shaping online trading
"The rapid pace and fervor surrounding social media have introduced volatility into financial markets, leading to instances where stocks, particularly...Social media has opened up opportunities for independent and self-motivated online traders.
Financial guidance is actively sought on social media platforms, especially by young investors.
Masdar and Emirates Steel Arkan partner to build green project to cut emissions
Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) has signed an agreement with Emirates Steel Arkan to develop a pioneering...The project, the first of its kind in the MENA region, is under construction within the facilities of Emirates Steel Arkan in Abu Dhabi's industrial city
It will generate green iron, a highly sought-after product by international steel companies striving to achieve net-zero emission target across the world
Dubai International Chamber wins over 92 businesses in first 9 months of 2023
Dubai, UAE--Dubai International Chamber has attracted a total of 92 businesses, including 15 multinational companies and 77 SMEs, to the...It helped nearly 33 Dubai-based companies to expand in global markets, either by increasing their exports or helping them to establish a presence abroad
The international chamber launched three new global representative offices during the third quarter of 2023 in Ho Chi Minh City, Vietnam, Milan, Italy, and Paris, France
Middle East’s M&A activity outpaces global trends
With a focus on economic diversification and technological advancements, the region is setting a precedent for strategic growth and innovation...With a focus on economic diversification and technological advancements, the region is setting a precedent for strategic growth and innovation in the post-pandemic era.
In 2023, state-owned enterprises and sovereign wealth funds spearhead robust dealmaking in energy, chemicals, and technology sectors within the regional M&A landscape.
US markets up after Nvidia reports $9.2 billion in third-quarter profit
New York, United States - Wall Street stocks resumed their upward climb early Wednesday following strong results from artificial intelligence player...The broad-based S&P 500 gained 0.6 percent to 4,566.85, while the tech-rich Nasdaq Composite Index jumped 1.0 percent to 14,337.20
Nvidia said it made a profit of $9.2 billion on revenue of a whopping $18.1 billion, compared with $5.9 billion in the same quarter a year earlier
Crude prices slip 4% after OPEC+ reschedules Vienna meeting
The current output strategy by OPEC+ that saw nine members led by Riyadh to cut production in recent months to...The 13 OPEC members led by Saudi Arabia and their ten partners led by Russia were due to decide on their output policy amid slumping crude prices
Traders worry that crude demand will slump, with concerns about the health of the global economy as China's post-Covid rebound stutters
