Boursa Kuwait posts $51m net profit
Operating profit for 2023 was recorded at US$59 million.Company News Business Economy
Iraq finalizes fresh air deals with Gulf countries
BAGHDAD, IRAQÂ - The Civil Aviation Authority announced the work to conclude new air agreements with the Gulf states. A spokesman...A spokesman for the Civil Aviation Authority said We have agreements with all Gulf countries and all Gulf national carriers that land in Iraqi airports
He added that in the future, there may be air agreements with Kuwait as well.
Qatar Chamber discusses investment with Cuban delegation
DOHA, QATAR -Â Qatar Chamber First Vice-Chairman Mohamed bin Ahmed bin Twar Al Kuwari met with President of the Republic...The meeting touched on economic and commercial relations between Qatar and Cuba.
The Qaraei delegation also discussed the business opportunities offered by the Cuban side in the sector of water resources.
DEWA implements SAP’s Audit Management System
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has implemented the SAP Audit Management System (TAWKEED), becoming the first...DEWA's Internal Audit Department is an independent assurance function that adopts the best-in-class standards and practices.
The Internal Audit department at DEWA operates under an approved charter.
Masdar to build 5-gigawatt renewable energy projects in Africa
Abu Dhabi, UAE--Masdar has signed agreements with three Angola, Uganda and Zambia to develop renewable energy projects with a combined...The agreements were signed under the umbrella of the Etihad 7 initiative to invest in the development of Africa’s renewable energy sector
Etihad 7 was launched at ADSW 2022 by Sheikh Shakhboot bin Nahyan bin Mubarak Al Nahyan, Minister of State, with the aim of achieving 20 GW capacity to supply 100 million people
Tesla CEO Elon Musk takes stand in California fraud trial
San Francisco, United States--Tesla CEO Elon Musk took the stand in a California fraud trial on Friday, accused of lying in...Elon Musk was called to testify by lawyers for angry investors who accuse him of costing them millions of dollars in 2018 with untrue tweets
Testimonies in the trial opened Wednesday with a lawyer for the upset investors telling jurors Musk lied about having funding in place
Saudi Arabia may surpass UAE in FDI inflow this year
Overall, the two Gulf countries will continue to be major beneficiaries of the inflow of funds this year, says Nazar...Overall, the two Gulf countries will continue to be major beneficiaries of the inflow of funds this year, says Nazar Musa, CEO of PRO Partner Group.
The FDI into Saudi Arabia and the UAE, according to a report, hit record highs with $40 billion in 2022, showing a rise of 58 percent over the previous year.
RIL posts Q3 profit of US$1.9b
Profit is 15 percent lower than in the same period last yearRevenue from operations at India's largest company by market capitalisation rose 15 percent year on year, to US$27 billion
Reliance's board also approved a plan to issue bonds to raise up to US$2.4 billion (200 billion rupees) to fuel further expansion across its diversified businesses.
AD Gaming partners with AA Meta
They will develop Abu Dhabi’s Web3 Blockchain Gaming ecosystem.AA Meta provides metaverse infrastructure and Web3 technology solutions that enable next-generation gaming.
Alongside using this technology for its own projects, AA Meta provides its offering to other gaming businesses as well.
Google announces 12,000 job cuts globally, cites changing economic reality
Google's parent company Alphabet announced about 12,000 job cuts globally citing a changing "economic reality", becoming the latest US tech...Google's parent company Alphabet employed nearly 187,000 workers worldwide at the end of September 2022.
Alphabet CEO Sundar Pichai said American employees have already been notified about the cuts.
ADNOC Distribution to go for 25 percent cut in carbon intensity by 2030
ABU DHABI, UAE - ADNOC Distribution on Friday announced plans to reduce its carbon intensity by 25 percent by 2030.This...This reduction in carbon intensity will be implemented by putting sustainability at the core of its day-to-day operations to future-proof its business.
The company said it will install solar panels to power service stations and use biofuels in its fleet of vehicles.
