Qatar real-estate trading volume in January stands at US$521m
Doha, Qatar--The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry...Business
OpenAI valued at $80bn in new deal
With this deal, the value of the firm has tripled in 10 months.Business
FTX founder Sam Bankman-Fried arrested in the Bahamas
Nearly a month after the downfall of FTX, its founder Sam Bankman-Fried was arrested in the Bahamas at the request...He had in recent weeks defied legal advice and multiplied media appearances offering his version of his company's sudden failure, usually by video link from the Bahamas
The price of FTT plunged in early November, roiling both Alameda and FTX, where Alameda had large trading positions
Abu Dhabi, Dubai gain as realty prices rise in UAE
The UAE’s real estate market flourished during November as sales in Dubai alone crossed 10,000 transactions, the highest recorded since...The UAE’s real estate market flourished during November as sales in Dubai alone crossed 10,000 transactions, the highest recorded since 2011, says a latest report
In November, the off-plan market witnessed the highest value of transactions in a decade by recording AED 12.7 billion for the first time
Resilience helps UAE banks face global challenges
Growing assets, increased financing, and enhanced capital adequacy ratios reflect the sector’s resilience and ability to adapt to changes in...Growing assets, increased financing, and enhanced capital adequacy ratios reflect the sector’s resilience and ability to adapt to changes in the world, say key bankers
The CEOs Advisory Council, in a recently held meeting, had called for continued efforts to protect the banking sector’s digital infrastructure in the Gulf country
EDB, ADCB ink pact for UAE SMEs
The MoU will enable SMEs access to financing options.The scheme is in line with EDB’s mandate to provide AED 30 billion towards the development of the UAE economy in five strategic sectors.
The Memorandum of Understanding (MoU) will enable SMEs in the UAE to have improved access to strategic financing options.
Microsoft to buy 4% stake in LSE
Microsoft will acquire a holding worth $1.8 bn at current prices.The long-term partnership focuses "next-generation data and analytics and cloud infrastructure solutions" including artificial intelligence (AI).
Microsoft CEO said advances in cloud and AI technology would "fundamentally transform how financial institutions research, interact, and transact".
Mercedes plans $1.05 bn investment
It will build a plant in Poland to build fully electric vans.The site will be located in Jawor, southwestern Poland, where the group has already been manufacturing combustion engines since 2019.
It comes as Mercedes and rival automakers globally are spending vast sums as part of a major industry-wide shift towards electrification.
DEWA approves special $552m dividend
The record date for the dividend is 22 Dec. 2022.DEWA, which is listed on the Dubai Financial Market, held its second general assembly for 2022 under the chairmanship of Matar Humaid Al Tayer, Chairman of the Board of Directors.
“This dividend yield is more attractive than most companies listed on the ADX, DFM, and Tadawul, as well as other global utility companies,” said Al Tayer.
Amgen to buy Horizon Therapeutics
The US biopharma firm will pay US$28 billion for the deal.This is the biggest acquisition of the year in the health sector.
The deal is subject to approval by US regulators and if all goes well it should be concluded in the first half of 2023, Amgen said.
TotalEnergies to start drilling in offshore Lebanese gas project in 2023
Paris, France--- French energy giant TotalEnergies said Monday that several teams were working in collaboration with the Lebanese Petroleum Administration...TotalEnergies owns 60 percent of Block 9 and its partner in the project, Eni, the remaining 40 percent.
Block 9 is within the territorial waters of Lebanon, which reached a maritime agreement with Israel.
Dubai Multi Commodities Centre launches DMCC Gaming Centre
Dubai, UAE---Dubai Multi Commodities Centre (DMCC), which is currently home to more than 50 gaming companies, has launched the DMCC...Under the DMCC Gaming Centre, members will have access to the wider esports community through regular events and esports tournaments.
Members will have the opportunity to join gaming specific acceleration and market entry programmes through DMCC ecosystem partner, AstroLabs.
