Asian markets rally after Wall Street highs, oil prices slide
"The weakness of yesterday's US retail sales release have given market doves a new lease of life and allowed them...Business
Americana Restaurants posts profit.
The annual net profit in 2022 was US$470 million.Company News Business
$121bn GCC projects in pipeline: Trust, transparency key to their success, TOP CEO Conference heard in May
Beside leadership and vision, trust, communication and transparency between all the stakeholders play a key role in any and every...Beside leadership and vision, trust, communication and transparency between all the stakeholders play a key role in any and every project’s success, experts had said at the event.
More than $50bn of social infrastructure work, according to Meed Projects, is being executed across the Gulf region, while the remaining $70bn is in various stages of planning
Like in climate discourse, digital transformation will eventually edge out the big players, says media expert
“Some big techs are facing crisis with large-scale layoffs and investment cuts. As digital space offers enough space and opportunity...Unlike in the industrial revolution, the developments in Information and Communications Technology (ICT) are quicker, says Asian College of Journalism Chairman Sashi Kumar
'Rational human beings, interested in transformation in media and communication as a vehicle for the betterment of society, should be worried about technological fundamentalism'
EU uncovers US$2.3-billion cross-border tax fraud
The EU announced the discovery of a sophisticated US$2.3-billion VAT tax fraud that triggered raids in 14 countries, including France,...Prosecutors uncovered a network of "criminal activities" operating in almost all 27 EU member states.
These activities also operated in Albania, Britain, China, Mauritius, Serbia, Singapore, Switzerland, Turkey, the United Arab Emirates and the United States.
Riyadh’s WTTC Summit to oversee signing of 50 deals
RIYADH, SAUDI ARABIA - Fifty deals and agreements are expected to be signed in the World Travel and Tourism Council...The minister evaluated the deals to be worth $50 billion, local media reports said.
Also, the event comprises over 3,000 participants, 57 ministers of tourism and travel
UK ousts China from new nuclear project Sizewell
LONDON, UK - Britain on Tuesday ousted China's nuclear firm CGN from construction of its new Sizewell C nuclear power...The announcement came one day after Prime Minister Rishi Sunak warned that the "golden era" of UK-China relations was "over"
Sizewell C, which is under development on the Suffolk coast in eastern England, will power the equivalent of about six million homes.
HSBC sells Canada ops for $10bn
Bank will use funds for core business, give cash to investors.The large sale comes after UK-listed HSBC faced calls from biggest shareholder Ping An Insurance Group to cut costs and shift more resources to Asia.
The Canadian divestment is expected to be completed in late 2023.
DIEZ posts 42% revenue jump
Its earnings grew by 17 percent in H1 of 2022.The results, according to the company, confirm that the DIEZ benefited from integrating returns on investment
The increase in commercial licences and government services amounted to 49 percent
After FTX collapse, BlockFi files for bankruptcy in US
A few weeks after the unravelling of FTX, BlockFi, a lender in the cryptocurrency world, has filed for bankruptcy protection...During the course of summer, FTX provided $400 million in credit to BlockFi, enabling the lending firm to avoid bankruptcy
BlockFi said it was focused on recovering obligations from counterparties, including FTX
Aldar partners with Nobu to develop luxury hotel on Saadiyat Island
Abu Dhabi, UAE— Aldar Properties has partnered with Nobu Hospitality to launch a new luxury hotel, branded residences, and a...The agreement will see Aldar develop the 5-star hotel featuring 165 luxurious guest rooms and suites, including the stunning rooftop Nobu Villa
The planned development includes the first branded Nobu Residences in the Middle East and the second worldwide, offering high-end, multi-bedroom sea view residences
Twitter owner Musk signals new ‘war’ against Apple
A series of tweets fired off by Musk included a meme of a car with his first name on it...Musk also joined the chorus crying foul over a 30 percent fee Apple collects on transactions via its App Store
Since taking over Twitter last month, Musk has cut around half of Twitter's workforce, including many employees tasked with fighting disinformation
