Dow, S&P 500 hit fresh records, but Nasdaq ticks lower
The tech-rich Nasdaq slipped by 0.3 percent to 15,996.82 -- a day after surging by 3.0 percent following strong earnings...Business
Volkswagen posts profit
Its operating profit rose by 12.5 percent to $24 billion.Earnings rose despite a drop in sales, with Volkswagen reporting at the beginning of the year a seven percent drop in the number of vehicles sold in 2022
Volkswagen had forecast an increase of between 8.0 and 13.0 percent
Iraq’s Kurdistan restarts oil exports through Turkey after quake
A day after the powerful earthquake devastated Turkey and Syria, Iraq's autonomous Kurdistan region has said that it resumed oil...The northern region usually exports around 450,000 barrels of oil a day through Turkey
Authorities had said exports through Turkey's Ceyhan port would resume after inspection of pipelines
US trade deficit widens in 2022 to record on strong imports
US trade gap widened to a record in 2022, though expanding less than expected in December, government data said, capping...This marks the biggest deficit in government data dating back to 1960.
In December, the trade deficit expanded $6.4 billion to $67.4 billion, said the Commerce Department.
Saudi Arabia center, Yokogawa to advance 4IR in kingdom’s industry
Riyadh, Saudi Arabia--The Center for the Fourth Industrial Revolution in Saudi Arabia (C4IR KSA), affiliated with the World Economic Forum...Signed on the sidelines of LEAP 23, the MoU aims to develop frameworks and policies for the governance of the fourth industrial revolution technologies in the industrial sector.
The two sides undertake to supervise the pilot studies of the projects and assess the participation of other entities in the kingdom.
Stocks steady, dollar higher on US rate-hike expectations
Stock markets largely steadied and the dollar rose with traders forecasting US interest rates to keep climbing following last week's...January's rally for equities was halted as investors contemplate an extended period of high borrowing costs.
Leading Asian stock markets and London managed gains Tuesday after all three main indices on Wall Street kicked off the week with losses.
DEWA updates strategic plan to include achieving net-zero by 2050
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has updated its strategic plan, adding achieving net-zero by 2050 to...DEWA is steadily moving towards reducing its carbon footprint to achieve a sustainable net-zero carbon by 2050.
The production capacity of clean energy in Dubai is around 14 percent of total power generated.
UAE Pension Authority to focus on awareness among Emirati employees
ABU DHABI, UAE - The General Pension and Social Security Authority (GPSSA) of UAE has announced its key strategic objectives...The authority said that it serve the community with utmost promptness and professionalism.
There are presently 95,935 Emirati employees working in 9,082 federal, government and private entities in the UAE, who are insured by the GPSSA.
Google to release Bard in showdown with Microsoft’s ChatGPT
Media reports said the overnight success of ChatGPT was designated a "code red" threat at Google with founders Sergey Brin...Google's announcement came on the eve of an AI-related launch event by Microsoft in yet a further sign that the two tech giants will do battle over the technology
Before the emergence of ChatGPT, Google had been reluctant to launch its own language-based AI fearing the reputational risk of releasing technology that wasn't ready
Etihad Cargo, Astral sign MoU
They will share up to 50 percent of all available capacity on flights.Via Etihad Cargo’s Abu Dhabi hub, the carrier’s global network will offer connectivity to destinations around the world.
Etihad Cargo will utilize its road feeder service network to transport cargo arriving in Abu Dhabi from Nairobi to destinations throughout the UAE.
Merak launches credit fund
The $53-million direct lending fund is Shariah compliant.The fund is Merak's first credit fund under the Capital Market Authority new regulation for direct financing investment funds.
The fund aims to underwrite loans between 5 to 20 million SAR, targeting a portfolio of 20 borrowers, Merak said.
