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
2024 Crypto Crime Update Part 2: China-based cybercrime networks on the rise
In part 1 of our mid-year crime update, we discussed trends related to ransomware and stolen funds. While aggregate illicit...Business
Dubai Investment posts profit
Its income for the first nine months of 2023 is US$816m.The company reported a net profit of $222.46 million for the nine-month period ended September 30, 2023
The diversified investment company listed on the DFM said its total assets reached $5.71bn at the end of Q3 2023
Bahrain and Russia look to boost economic cooperation
Manama, Bahrain-- Bahrain and Russia have held discussions to enhance cooperation in various fields of the two countries' economies. In...The Bahraini oil minister spoke highly of the Bahraini-Russian relations and their steady progress across various domains, including in the energy sector
The Russian official expressed his country’s keenness to further bolster its cooperation with the kingdom in various fields, wishing Bahrain further prosperity
Iran and Russia diplomats hold discussions on BRICS
Tehran, Iran--Senior Iranian and Russian diplomats held talks in Tehran to discuss the BRICS group and its fields of activities...The Iranian sides reiterated the Islamic republic's commitment to playing an "effective and constructive role in it" and resolved to participate in all activities in the grouping
The Russian delegation enumerated the country's priorities in regard to BRICS during their presidency and presented a briefing on the history and background of the group's actions
Indian film company to operate cinemas in Saudi Arabia
Dubai, UAE - Mukta A2 Multiplex WLL, the international subsidiary of Mukta Arts, one of India's leading film production houses,...We are thrilled to contribute our expertise and commitment to delivering top-notch entertainment within the region, Rahul Puri, MD, said.
Puri added that their strategy revolves around contractual agreements geared toward providing superior management and operational services
Sharjah Civil Aviation Department and WFP sign aviation-safety agreement
Sharjah, UAE--The Sharjah Civil Aviation Department (SCAD) and the United Nations' World Food Programme (WFP) have signed an agreement to...The WFP's Regional Aviation Safety Office will hold training sessions, seminars, conferences, and special projects, in order to benefit both parties
The Sharjah Civil Aviation Department will send qualified lecturers and trainers to conferences, workshops, and other events hosted by the WFP
LNG trade to grow 25% to 500m tons in 5 years: IEF
According to a report "Fragile Equilibrium: LNG Trade Dynamics and Market Risks" China has surged ahead of Japan to become...LNG's share of gas demand in Europe rose from 12 percent a decade ago to more than 50 percent
Faced with the sudden loss of pipeline gas, Europe turned to LNG to fill the void, sending prices up
UAE warns of visa ban over job loss insurance fines
ABU DHABI, UAE - Some employees who failed to meet an October 1 deadline to sign up to the UAE's...Subscribers to the unemployment insurance scheme can make a single payment to cover the year's subscription or quarterly or monthly payments.
The policy aims to provide a vital safety net for workers in the public and private sector if they lose their job.
Alstom to cut 1500 jobs
Alstom said it aims to cut debt by 2 billion euros by March 2025.Alstom posted last month a negative cash flow of 1.15 billion euros ($1.25 billion) in the first half of its fiscal year.
The group said it was working on a "comprehensive operational, commercial, and cost efficiency plan" to reinforce its balance sheet.
Dubai plans bigger airport as passenger traffic continues to increase
"Once we've reached about 120 million (passengers a year), which is what we think our total capacity at DXB (Dubai...Dubai Airports CEO Paul Griffiths said designs were being drawn up for Al Maktoum International Airport, which will be built on the city's outskirts
Third-quarter traffic was 22.9 million, the highest since 2019, taking 2023 numbers so far to 64.5 million, nearly 40 percent higher than the same period in 2022.
ADNIC reports $82m profit
This marks 16% increase compared to the same period last year.The company's focus on market-leading underwriting and investment performance resulted in a net profit of AED 301.9 million
ADNIC's recently announced its intent to acquire a 51% stake in Allianz Saudi Fransi Cooperative Insurance Co
