BP to pour US$1.5bn into Egypt oil exploration
It plans to hike investments in the country to US$5 billion.Business
Iran-EU trade surpasses US$5bn in 2023, says Eurostat
TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...Business Economy Geostrategy Global
US Fed’s preferred inflation gauge eases in November
A key indicator of US inflation edged down from a year ago in November, according to government data, in welcome...The US Federal Reserve's preferred inflation measure, the personal consumption expenditures price index, rose 5.5 percent last month.
This was slightly below October's level but remains significantly higher than policymakers' target of two percent inflation.
Ajman Chamber keen to strengthen trade, economic ties with Pakistan
Ajman, UAE--Abdullah Al Muwaiji, Chairman of the Board of Directors of Ajman Chamber of Commerce and Industry (ACCI), has affirmed...The total trade between the UAE and Pakistan reached AED19.7 billion in 2021, with a growth rate of 23 percent compared to 2020.
The growth rate of trade volume between Ajman and Pakistan reached 30 percent during the last five years.
Iraq tells visiting Italy PM it seeks closer economic ties
Iraq's prime minister appealed to visiting Italian counterpart Giorgia Meloni for closer economic ties with his oil-rich country suffering from...Italian oil firm Eni has been involved in exploration and production in Iraq for over a decade.
The United Nations says Iraq is one of five countries most exposed to some impacts of climate change.
SALIC completes acquisition of Olam
SALIC had signed the acquisition pact in March.SALIC is wholly owned by the Saudi sovereign wealth fund, the Public Investment Fund.
Olam is present in more than 30 countries around the world and has the capacity to handle more than 40 million tons of food commodities annually.
FAB, Magnati, PayRow join hands
The move will help Dubai in becoming a cashless economy.Government entities and merchants will now be able to receive payments from their customers in an easy, flexible, unified and secure manner.
The new payment ecosystem is set to transform the existing gateway.
Nearly 78% UAE women-owned businesses led by females under age 40
Sharjah, UAE--- A Women under the age of 40 lead 77.6 percent of the women-owned businesses in the UAE, a...The survey found that of the 1,000 female business owners who took part in the survey, 48.8 percent are CEOs and 61.4 percent sole proprietors.
A total of 25,000 Emirati women entrepreneurs owned 50,000 trade licenses valued at AED 60 billion ($16.33 billion) in 2021.
Facebook agrees to pay $725m to settle privacy suit
Facebook parent Meta has agreed to pay $725 million to settle a long-running lawsuit that accused the social network of...The settlement must be approved by a judge in the San Francisco division in the US District Court.
The lawsuit was initiated in 2018, when Facebook users accused the social network of violating privacy rules by sharing their data with third parties.
Two years after EU exit, UK business feels Brexit blues
Complicating matters has been the loss of EU workers in sectors such as health, hospitality and agriculture, even if some...The problem is not the customs duties, largely eliminated by the post-Brexit free trade agreement between London and Brussels
The government of Prime Minister Rishi Sunak has said it believes the UK economy has entered a recession on fallout from sky-high inflation
China’s ByteDance admits using TikTok data to track journalists
Employees had obtained the IP addresses of the journalists in a bid to determine whether they were in the same...ByteDance told on Friday that several staffers accessed two journalists' data as part of an internal probe into leaks of company information to the media
TikTok has come under the spotlight in US, with Congress poised to approve a nationwide ban on using the wildly popular short-video app on government devices
YouTube TV wins right to broadcast NFL games starting in 2023
YouTube TV subscribers, who now pay $64.99 a month for a viewing package, will have to pay an added fee...Google will pay around $2 billion a year over seven years, US media reported, for the right to broadcast Sunday games on its subscription YouTube TV service
NFL's YouTube channel currently has more than 10 million subscribers, who regularly watch short videos showing high points from one of the world's most powerful sports
