Meta, Microsoft slam Apple over app store policy
The four companies filed a rare joint amicus brief in a California court in charge of applying a ruling that...Business
Google hit by US$272m fine in France
It breached an agreement on terms for paying media firms.Business
GCC project awards surge by 86% to $49.7bn in Q2
The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength...The highest quarterly project awards value in over five years showcases the region's determination for diversification, and reflects the strength of GCC economies
Saudi Arabia leads as GCC's largest projects market, while the UAE experiences a 127 percent surge, reaching US$12.2bn in the second quarter of 2023
VMware takeover by Broadcom okayed
Broadcom is seeking to expand into the software market.The Competition and Markets Authority said the deal "would not weaken competition in the supply of critical computer server products".
The CMA in March said the deal could harm innovation and drive up the cost of computer parts used by key clients including banks, retailers and telecoms.
Turkey, UAE sign agreements worth over $50bn
Earlier this year, the two countries signed a Comprehensive Economic Partnership Agreement with the aim of boosting trade to $40...The non-oil intra-trade between the two nations amounts to over US$103 billion from 2013 to 2022.
This includes imports valued at US$56 billion, exports exceeding US$35 billion, and re-exports totaling over US$12 billion.
Goldman Sachs Q2 profits at $1.1bn
Profit fell due to anemic M&A market, weakness in trading.The big investment bank has essentially abandoned a once-touted push to compete with retail banks for Main Street consumers.
Goldman also suffered a drop in its other main division, asset and wealth management, citing net losses and markdowns in real estate.
Microsoft, Activision gaming deal deferred
July 18 was the cut off point to finalize the $75bn deal.The deal for Microsoft to acquire Activision now gets pushed by three months to October 18.
In return, Microsoft agreed to pay Activision an increased break-up fee in case either side walks away from the deal.
Tata to build car battery factory in UK
The $5.2bn factory is expected to create up to 4,000 jobs.The factory is Tata's first giga facility outside India, and will be built in Somerset, southwest England.
The British government said the new manufacturing facility is expected to provide almost half of the battery production that the UK will need by 2030.
Almarai trust certificates raise $750m
The dollar-denominated certificates have annual return of 5.23%.Almarai told Tadawul in a statement that the certificates will be listed on the Irish Stock Exchange under Euronext Dublin.
The certificates were issued under the $200 million Trust Certificate Issuance Program updated by the company on July 14.Â
SALIC buys 10.7% stake in BRF
The deal is worth US$266 million (SAR1.27 billion).SALIC is fully owned by the Public Investment Fund.
Brazilian firm BRF is a global leader in the poultry sector.
Governments should provide incentives for green finance, says Dubai Chambers’ webinar
DUBAI, UAE – Participants at a webinar strongly supported governments providing incentives or regulatory frameworks to encourage greater participation in...The webinar was organized by Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers.
The webinar provided valuable insights and guidance aimed at helping companies to access green finance, attract green investment projects.
ADIA acquires hotel portfolio
The portfolio comprises 27 hotels across Japan.The portfolio was acquired from Daiwa House Industry for $900 million and comprises a total of 7,124 hotel rooms.
The acquisition was made along with a consortium led by Singapore-based private equity real estate firm, SC Capital Partners and Goldman Sachs Asset Management.
