Qatar and Egypt hold talks to ramp up civil aviation cooperation
Cairo, Egypt-- Qatar and Egypt have discussed enhancing ties in the field of civil aviation between the two countries.In this...Business
GAS, SPPC ink two contracts
The duration of each contract is of 22 months.Company News Business Energy
United Arab Bank posts profit
The bank's net profit vaulted to US$15mn in Q1, up 80%.The jump in the net profit of the bank come on the back of improved net interest income and lower provision charges
Its operating income rose 5 percent in Q1 of 2023, as against the same period of last year, due to a 38 percent jump in net interest income
Focus on innovation and sustainability as RAKEZ helps businesses grow
The economic zone supports over 18,000 SMEs and multinational corporations, providing them with simplified processes, customized packages, and digitalized services,...The economic zone supports over 18,000 SMEs and multinational corporations, providing them with simplified processes, customized packages, and digitalized services, says Jallad
RAKEZ offers regular B2B networking opportunities, hosts workshops and seminars, and provides aftercare support to ensure businesses thrive in the UAE and beyond, he adds
Car sales vault in Europe, cross 1 million mark first time since 2021
Paris, France--Sales of new cars jumped last month in Europe, surpassing the level of one million for the first time since...Italy posted 40.7 percent jump in car sales while Spain recorded 66.1 percent increase as sales rose in all EU nations
German carmaker Volkswagen reported high sales, with the group selling 275,753 vehicles across its various brands
OPEC Fund, UNIDO enhance cooperation to advance clean energy transition
Vienna, Austria - The OPEC Fund for International Development (the OPEC Fund) and the United Nations Industrial Development Organisation (UNIDO)...They also signed a US$1.5 million technical assistance grant agreement in support of the National Clean Cooking Transition Programme in Madagascar
We look forward to collaborating with UNIDO to help deliver the Sustainable Development Goals, said OPEC Fund Director-General Dr Abdulhamid Alkhalifa
United Airlines reports Q1 loss
The US airline posted a quarterly loss of US$194mn.United Airlines said that its results were hit by higher costs, especially on salaries and for jet fuel
But the US carrier expects a rebound in demand for tickets in the coming summer months
Iraq police arrest more than 200 in raids on ‘illegal casinos’
Baghdad, Iraq--Iraqi police arrested overnight almost 200 people in raids on illegal casinos where alcohol was served in defiance of the...According to the interior ministry spokesman, the raids targeted four locations in Baghdad where games of blackjack and roulette were underway
In Muslim-majority Iraq public consumption of alcohol is frowned upon, although beverages can be readily purchased from liquor stores
Elon Musk hypes up new moderation policy to reassure advertisers
Speaking at a meeting in Florida, the controversial billionaire outlined new rules, first announced Monday, to limit the reach of...Under the new policy, unveiled in a blog post titled "Freedom of Speech, Not Reach," Twitter will soon begin tagging posts whose visibility has been limited
According to analyst at market research firm Insider Intelligence, Twitter's revenue is set to drop 28 percent this year, because advertisers don't trust Musk
Goldman Sachs net income down
The bank's shares dropped 3.7% to $327 in pre-market trading.The big investment bank pointed to a "significant decline in industry-wide completed mergers and acquisitions transactions".
Net income came in at $3.1 billion, down 19 percent from the year-ago period on a five percent drop in revenues to $12.2 billion
Volkswagen to invest in China
The new venture will be launched in 2024.Electric Vehicles now make up one out of four car sales in China, the world's largest car market. Local brands command 81 percent of the EV market in China.
Executive Ralf Brandstaetter said the move was a key step of the group's "in China, for China" strategy.
Green groups sue Europe over false energy label
BRUSSELS, BELGIUM - Environmental groups lodged a lawsuit against the European Commission on Tuesday to challenge its definition of natural gas...The lawsuit over gas was launched by WWF, ClientEarth, Transport&Environment and the German NGO BUND.
Greenpeace, sued the EU executive separately for deciding that nuclear energy was worthy of its sustainable investment label.
