Apple’s changes contradicts European rules, 34 firms complain
Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...Business Economy Global Tech & Media
Annual inflation in Qatar shoots up 4.01 percent in March
Doha, Qatar-- Inflation in Qatar rose by 4.01 percent year-on-year in March, because of a rise of prices across eight...Recreation and culture posted the highest increase, climbing up to 13.63 percent, according to the data released by the Planning and Statistics Authority
During the fourth quarter of 2022, Qatari banks recorded the highest loan increase among Gulf lenders, despite a stiff interest rate environment
‘Monetizing hate’: Unease as misinformation, conspiracy theories swirl on Twitter
The Tesla tycoon bitterly denies that misinformation has surged since his turbulent $44 billion acquisition of the messaging platform, but...In a recent BBC interview, Musk pushed back at allegations that misinformation and hateful content were seeing a resurgence since his takeover.
Twitter's ad income will drop by 28 percent this year, according to analysts at Insider Intelligence, who said "advertisers don't trust Musk."
Merck to buy Prometheus
The US$11bn deal will drive drug company's growth.At the closing of the New York Stock Exchange on Friday, Prometheus's share price stood at $114.01
The medical company is in the middle of developing a treatment for autoimmune diseases, including ulcerative colitis and Crohn's disease
DEWA wins Hydrogen Project of the Year Award for green transition
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) has won the Hydrogen Project of the Year 2023 Award for...Hydrogen Project Award was part of the Hydrogen Future Awards 2023, organized during the Connecting Green Hydrogen MENA" Conference in Dubai.
This award recognizes leaders from international energy corporations who made key contributions to the growth of the clean energy industry.
Europe’s largest nuclear reactor begins operation in Finland
The most powerful nuclear reactor in Europe, with a capacity of generating 1,600 megawatts, Olkiluoto 3 reached full power in late...Olkiluoto 3, now producing around 14 percent of the country's electricity, is expected to remain operational for "at least the next 60 years".
Built by Areva-Siemens consortium, the reactor was first started up in December 2021 and connected to the Finnish power grid in March 2022.
Qatar Tourism head says country expects over 5m visitors in 2023
DOHA, QATAR - Qatar expects more than five million people to visit the Gulf state in 2023 despite a post-World Cup...The head of Qatar Airways and Qatar Tourism admitted that hotels had fallen quiet after the World Cup final on December 19.
He insisted that every World Cup host has the same lull after the tournament and that hotels were still 65-70 percent full.
ADCB-BLME partnership brings UK digital banking to UAE customers
Dubai, UAE -- Abu Dhabi Commercial Bank and its Shari’ah compliant digital banking subsidiary Al Hilal Bank have announced a...They can also apply for UK home financing, from their smartphones using the newly launched ADCB-Nomo and Al Hilal-Nomo banking apps.
Abu Dhabi Commerical Bank and Al Hilal Bank sign partnership with Bank of London and the Middle East to make this service available.
Iraqi government plans to reduce economy’s dependence on oil
BAGHDAD, IRAQ - Iraqi Prime Minister Muhammed S. Al-Sudani chaired a meeting focused on discussing the provisions of the federal...The meeting discussed the provisions of the federal budget bill submitted to the Parliament.
The Iraqi PM highlighted the plans for enhancing development and advancing the economy.
Saudi Arabia transfers more Aramco shares to wealth fund in bid to ‘diversify’ economy
Prince Mohammed said the latest transfer will "solidify PIF's strong financial position". Authorities did not give a value for the...The move, part of a campaign to open up the oil-rich kingdom's economy, follows a transfer of four percent of Aramco shares, estimated at the time to be worth $80 billion
The Saudi crown prince billed the move as part of a push "to boost and diversify the national economy and expand investment opportunities", according to the report
KPMG ordered to pay $231 million for Abraaj fund audit failure
Dubai, UAE -- KPMG Lower Gulf has been ordered by a Dubai court to pay more than $231 million to...The award is one of the largest ever against an accounting firm and exceeds KPMG Lower Gulf’s revenues of $210 million in its most recent financial year.
KPMG Lower Gulf’s operations were already in the spotlight after allegations of nepotism and cronyism led to the resignation of its former head last October.
