US considering Google breakup following monopoly ruling
The US Department of Justice (DOJ) made recommendations for Google’s search engine business practices on Tuesday, according to US media....Business
GM reports US sales dip, that of EVs grew
The big Detroit automaker reported 659,601 US sales during the period.Company News Business
US stocks open mixed ahead post fresh economic data
New York, US- Wall Street stocks saw a mixed start to Thursday, as traders digested the latest economic data ahead of...The broad-based S&P 500 Index was flat at 5,247.74, while the tech-heavy Nasdaq Composite Index retreated 0.2 percent to 16,363.03
The Commerce Department made a surprise upward revision to fourth quarter GDP growth, to an annual rate of 3.4 percent
Abu Dhabi Chamber sets up working group to support startups, SMEs
ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for...This initiative aims to support and represent the interests of startups and SMEs in the region.
The goal is to make Abu Dhabi the top choice for business in the Middle East and North Africa by 2025.
TAQA, JERA sign pact with SATORP to develop plant in Saudi ArabiaÂ
ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...They will develop a greenfield industrial steam and electricity cogeneration plant for Amiral petrochemical complex.
The Amiral petrochemical complex is expected to house one of the largest mixed-load steam crackers in the Arab Gulf region.
Rise in remittances hikes demand for Jordanian dinar, says chamber of commerce
AMMAN, JORDAN – Rising remittances from the Kingdom’s citizens working abroad has contributed to increasing demand for Jordanian dinar. Exchange...There are positive indicators suggesting a stabilization in Jordan’s economy.
Presently the currency exchange sector comprises 250 firms across Jordan.
UBS reports lower net profit in 2023
The Swiss government pushed it to buy Credit Suisse last year.UBS had reported a $29 billion annual profit in February due to the difference between the value of the assets obtained in the Credit Suisse dea
In its annual results published on Thursday, UBS said the fair-value estimate has been adjusted by $1.2 billion, decreasing the "negative goodwill" to $27.7 billion
China’s Xiaomi to enter EV market
China's EV sector has grown rapidly in recent years.Xiaomi CEO Lei Jun has promised that the SU7 EV will be "the best-looking, best-driving and smartest car" costing under $69,200
Xiaomi is the world's third-biggest smartphone maker, and its experience in that sector has helped shape its EV strategy
Aramco CEO terms energy transition strategy a failure
Speaking at the CERAWeek conference in Houston, Saudi Aramco Chief Executive Amin Nasser said that the current transition strategy is...ExxonMobil Chief Executive said "we're not on the path" to reaching net zero emissions by 2050
In November last year, COP28 conference included a call for a transition away from fossil fuels
Abu Dhabi Chamber and UAEIIC team up to boost investment
Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council...The two entities will ensure the growth of investments in the region and across the world to promote Abu Dhabi as an investment destination
They will work together to assess growth opportunities in strategic priority markets, provide consultations, and share studies and information
Saudi Arabia weighs handing state airline Saudia over to PIF
Riyadh, Saudi Arabia - Saudi Arabia is considering transferring ownership of its national carrier, Saudia, to the sovereign wealth fund,...Bloomberg initially reported the discussions regarding PIF's potential acquisition of Saudia
Currently, PIF already holds ownership of Riyadh Air, the kingdom's upcoming airline
Investcorp Capital names new CFO
Rohit Nanda, the new CFO, will take up his new job next month.Nanda before his new appointment was the head of Operations and head of Investment Structuring and Business Support, Asia, at Investcorp
He is a chartered accountant, holding a master's degree in science with a specialization in finance from the London School of Economics