Higher prices boost Coca-Cola sales despite Middle East hit
Chief Executive James Quincey described consumers in North America as "holding up well," although he acknowledged "a little softening" through...Business
EU excuses Apple and Microsoft products from tougher tech curbs
Brussels, Belgium - Apple's iMessage and Microsoft's Bing search engine got a reprieve from tougher EU rules curbing how tech titans...Business
Invictus 9M net profit $105m
The firm reported a 125 percent increase in its revenues.The company attributed the results to “a continual focus on geographical location expansion, and a sustained rise in trade volume and revenues across all product lines”.
This year, the company introduced fertilizers which added over AED 140 million to revenues.
Mozambique has begun exporting LNG, says President
Mozambique has started exporting liquefied natural gas (LNG) produced in the country's restive north, President Filipe Nyusi said. The first...Mozambique has set high hopes on vast natural gas deposits - the largest ever found south of the Sahara.
Estimates have shown that once all the gas deposits were tapped, Mozambique could become one of the world's 10 biggest exporters.
Musk decides to give Indonesia G20 business meet a miss
Musk, who also owns electric car maker Tesla, was due to speak at the so-called B20 business conference on the...Elon Musk's office said the world's richest person would instead take part in an hour-long virtual discussion onfuture disruption of global technological innovation at the B20
Indonesian President Joko Widodo travelled to Texas to meet Musk earlier this year for talks about Tesla investing in the country's nickel industry
PIF sells 10 percent stake in Tadawul Group at $51 per share
The offering size was SAR 2.3 billion ($611 million), making it the second largest Accelerated Bookbuild Offering to ever take...Last year, the PIF, which is led by the Crown Prince and Prime Minister Mohammed bin Salman, sold a 30 percent stake in Tadawul in a $1 billion IPO.
This transaction is in line with PIF’s strategy to recycle the Fund’s capital and invest in emerging and promising sectors in the local economy, PIF said.
Kuwait to develop 400 projects on Saji Island
Kuwait City, Kuwait—Kuwait will set up more than 400 local development project on Saji Island, according to the acting director...The Marina will allocate water taxis to transport visitors to and from the island from the city of Salmiya, as well as organize tours
Adel Al-Hasawi said that the national fund, which is overseeing the project, is looking to attract a variety of businesses to the island
UAE ministry launches Green Business Toolkit 2.0 at COP27
The Ministry of Climate Change and Environment (MOCCAE) introduced the second edition of the UAE Green Business Toolkit in partnership...The move aligns with the UAE’s pathway to net-zero and supports sustainable economic development.
The UAE Green Business Toolkit 2.0 seeks to benefit from the business sector's increasing awareness about the importance of achieving net-zero.
UAE stocks rise while Saudi market declines
DFM index jumped 0.6 percent, Abu Dhabi index rose 0.1 percent, Saudi Stock Exchange varied as index ended its trading...Twenty-one of the Saudi Stock Exchange's sectors declined, with the insurance, media, and entertainment industries seeing the most significant decline.
The Dubai Stock Exchange Index closed up 0.6 percent with gains in four of the exchange's sectors headed by investment and financial services, which gained 1.9 percent.
GE, IRENA sign pact at COP27 to support energy security
SHARM EL SHEIKH, EGYPT - GE (NYSE:GE) signed a framework agreement with the International Renewable Energy Agency (IRENA) to support...GE, IRENA agreed to cooperate across several aspects including decarbonisation, thought leadership, adoption and sustainable use of renewable energy.
GE and IRENA will explore how to jointly support decarbonisation efforts in critical markets and sectors.
Qatar plans to open new visa center in Jordan
DOHA, QATAR - Qatar plans to open a new center in Jordan for issuing visas in the near future, in...The Qatari Ministry of Interior said five new centers for Qatar visas will soon be opened in Jordan, Tunisia, Morocco, Kenya and Indonesia.
Qatar visa centers abroad have contributed to facilitating workers employment procedures and expediting their visas and residencies issuance.
TotalEnergies CEO heckled by climate activists at COP27
Sharm el Sheikh, Egypt—French giant TotalEnergies' chief executive was confronted by climate activists Friday at the COP27 summit in Egypt, where...The company's Chief Executive Patrick Pouyanne was confronted by a number of activists, forcing him to briefly take cover in the Guinean pavilion
Global Witness estimates that the number of lobbyists at this year's climate summit has increased by 25 percent compared to last year's gathering in Glasgow
