Dubai food and beverage sector stirs up with investment of US$577m
Dubai, UAE-- The food and beverage sector in Dubai has attracted new FDI worth $577 million from 2019 to 2023,...Business
Crypto crimes rise in GCC amid digital currency boom
The GCC is at a critical juncture, facing the dual challenge of embracing blockchain innovation while combating crypto crime, says...Business Banking & Finance
Roadmap for startups on agenda of MENA’s only IPO-focused summit
The summit, which will be held from 23-25 Jan, 2023, ""will shed light on the strong impetus and promising prospects...The DFM saw the listing of five government-related and private sector companies--DEWA, Tecom, Salik, Empower and Taaleem--in 2022.
A total of AED 31 billion ($8.4 billion) were raised by these companies in the IPOs, which were subscribed multiple times over, drawing AED 672 billion.
AstraZeneca buys US firm CinCor
The acquisition has been finalized at $1.8billion.The takeover marks the latest push by Astra chief executive Pascal Soriot to bolster the company's pipeline of new products.
Massachusetts-based CinCor focuses on developing treatments for hypertension and chronic kidney disease.
Cargo vessel refloated after running aground in Suez Canal
The incident involving the 225-metre-long Marshall Islands-registered M/V Glory had briefly sparked fears of a repeat of a major 2021...The waterway, used for about 10 percent of the world's maritime trade, is one of Egypt's main sources of foreign currency revenue, bringing in more than $7 billion a year.
Egypt lost between $12 million and $15 million every day of the closure, while insurers estimated that global maritime trade suffered billions in lost revenue.
QatarEnergy, Chevron Phillips Chemical partner to build Ras Laffan complex
both firms will establish a joint venture company, in which QatarEnergy will own a 70% equity share, and CPChem will...Both firms will establish a joint venture company, in which QatarEnergy will own a 70% equity share, and CPChem will own a 30%
The Ras Laffan Petrochemicals complex is expected to begin production of olefins and polyethylene in 2026
Al-Nassr coach wants Ronaldo to ‘rediscover pleasure of playing’
Riyadh, Saudi Arabia-- Al-Nassr coach Rudi Garcia hopes that Cristiano Ronaldo will "rediscover the pleasure of playing" when he brings...Ronaldo, a five-time Ballon d'Or winner, has penned a contract until 2025 with the Saudi club in a deal worth a reported 200 million euros
The former Juventus and Real Madrid star arrived in Saudi Arabia having had his contract at Manchester United ripped up after a bitter divorce
MEEZA to offer 50% of its shares
It will be Qatar's first firm to use book building for IPO.Offering shares to qualified investors through the book-building process will commence on 15 January 2023 and will end on 26 January 2023
MEEZA said that the price range of the company's shares has been set between 2.61 QR and 2.81 QR and is composed of a nominal value of one (1) QR per share
Goldman Sachs to cut 3,200 jobs: source
Goldman's staff stood at 49,100 at the end of October, up nearly 30 percent from the end of 2019 after...Goldman Sachs typically trims about one to five percent of headcount each year, targeting underperforming staff
This year's culling will be deeper than usual in light of the uncertain economic outlook and the growth in Goldman's staffing in recent years
Conspiracy theorists make comeback on Twitter after the ban
Those reinstated include far-right activists, anti-Muslim extremists as well as others peddling election conspiracies and Covid-19 misinformation, according to an...Among those allowed back on Twitter is former US President Donald Trump, who was handed a "permanent" ban by Twitter after his supporters stormed the Capitol on January 6, 2021
Former national security advisor Michael Flynn, who once appeared to endorse the idea for a Myanmar-style coup in US, also thanked Musk on Friday after his account was restored
DEWA completes 77 percent work in Hatta Water Reservoir
DUBAI, UAE Â - DEWA has completed 76.8 percent work on the water reservoir project in Hatta. The project has a...The project is being built at a cost of approximately US$23 million and is expected to be completed in April 2023.
The structural foundation works for all facilities and reservoirs are 100 percent complete,
Stop and smell the metaverse roses
Immersive technologies that can better lives, whether helping people treat dementia or learn to pilot fighter jets, is the future...Some entrepreneurs at the annual CES gadget fest that ends Sunday in Las Vegas were eager to combine real and virtual worlds to help people stop and smell the roses.
French startup SocialDream has also designed its own mixed-reality headset adapted to its virtual world content –- imagery that stimulates memory in Alzheimer's patients.
