Cryptocurrency Ether witnesses meteoric rise since launch
NEW YORK, US – Bitcoin has captured the limelight in recent weeks as it surged to a new record high, yet...Business Global Tech & Media
Hyatt to develop tourist destinations in Saudi Arabia
Riyadh, Saudi Arabia - Saudi Arabia’s Tourism Development Fund (TDF) has announced the signing of a Memorandum of Understanding with...The destinations may include beach and urban hotels, as well as mountain, desert and farm retreats
They will be developed under Hyatt’s existing trademarks, such as Alila Resorts, Park Hyatt, Grand Hyatt etc
OPEC-China alliance key to global oil market stability
A pragmatic framework for cooperation has been established between the two entities, fostering an ongoing exchange of views on mutual...OPEC Secretary-General Haitham Al Ghais emphasizes the importance of the dialogue partnership with China, with a plan to reinforce and strengthen it
A balanced framework for cooperation between OPEC and China has been established, facilitating an ongoing exchange of views on mutual energy issues, he says
UAE bank investments at all-time-high of $147 bn in February
Abu Dhabi, UAE - Bank investments in the UAE hit $147 billion by the end of February, the highest level...Held-to-maturity securities accounted for 42.5 percent of the total investments, reaching $52.4 billion
The bank stock investments reached $3.3 billion in February, a rise of approximately 1.7 percent
Green initiatives, SWFs drive M&A growth across GCC
Saudi Arabia emerges as an appealing market for foreign corporations interested in M&A deals due to rising global crude oil...Saudi Arabia emerges as an appealing market for foreign corporations interested in M&A deals due to rising global crude oil demand, Vision 2030, and private sector development
Digital transformation and ESG considerations are shaping businesses, leading to an upward trend in 'green' related acquisitions in the Gulf as investors get more eco-friendly
UAE discusses global economic challenges in EBRD meeting
SAMARKAND, UZBEKISTAN - The UAE, represented by the Ministry of Finance (MoF), participated in the 2023 Annual Meeting of the...Representatives of member states, private sector, the Board of Directors and the bank's management attended the meeting.
The UAE said focus should be on enhancing regional, global integration, to facilitate trade, investment and closer economic cooperation.
Dubai records over $462 million in real estate deals
Dubai, UAE -- Dubai real estate market recorded deals worth more than AED 1.7 billion (on Thursday, Dubai Land Department...The deals include 451 sales transactions worth AED1.48 billion, in addition to 110 mortgage deals of AED245.8 million.
April 2023 was the best month in a decade for Dubai's real estate market, both in terms of the number of transactions and the value of these deals.
IFZA, Zoho ink deal to enhance digital use in tax returns
DUBAI, UAE- IFZA Dubai signed an agreement with Zoho to provide the members of the IFZA Free Zone community with...Zoho One is a cloud-based platform that enables businesses to perform all their functions on a single interface, accessible from anywhere.
It is a part of IFZA’s commitment to support its Free Zone community in their compliance to the upcoming implementation of the Corporate Tax.
BT to axe 55,000 employees
BT employs 130,000 staff, including contractors.The news follows the axing this year of tens of thousands of jobs across the global tech sector.
BT is implementing further cutbacks, having slashed costs under a plan launched three years ago.
Masdar on way to become one of world’s largest renewable energy firms
ABU DHABI, UAE - Abu Dhabi Future Energy Company (Masdar) has announced that it has nearly doubled its clean energy...Masdar announced that it has nearly doubled its clean energy capacity and CO2 displacement in just two years.
Masdar has invested, or has committed to invest, in projects globally with a combined value of more than US$30 billion.
Walmart hikes 2023 profit forecast
Two thirds of Walmart sales originate from US.Walmart now sees full-year adjusted profits of $6.10 to $$6.20 per share, up from the prior range of $5.90 to $6.05.
Profits were $1.7 billion, down 18.5 percent from the year-ago period. Revenues were $152.3 billion, up 7.6 percent.
