Bitcoin crosses $50,000 for first time since 2021
The cryptocurrency has enjoyed a strong run-in recent month, fueled by expectations US lawmakers would allow the creation of exchange-traded...Business
solutions by stc, Devoteam ink MoU
The aim is to foster avenues for collaboration in technology.Company News Business Tech & Media
Ryanair earns bumper profit
It posted a net profit of $1.36bn in H1.It announced a return to profit as the aviation sector recovers following the lifting of Covid travel restrictions
The airline said it flew 95 million passengers in its first half, up from 39 million one year earlier
Apple says iPhone production hit by China Covid lockdown
Owing to Covid restrictions in central China, Apple has said that production at the world's largest iPhone factory has been...Foxconn locked down its massive factory in Zhengzhou last month after a spike in infections -- in line with China's zero-Covid policy
Multiple workers have recounted scenes of chaos and increasing disorganization at Foxconn's complex of workshops and dormitories
Flydubai scales up flights
It will run new flights to Europe and Asia in 2023.The new flights will run to European cities such as Milan and Cagliari in Italy as well as Corfu in Greece
The launch of the six new routes will elevate flydubai’s network to a total of 113 destinations across 53 countries
Suez Canal Authority to invest US$550m in current fiscal
Cairo, Egypt— Suez Canal Authority will make an investment of $550 million in the current fiscal year, according to Minister...The revenue of Suez Canal increased in the third quarter of this year by 23.5 percent year-on-year to hit $2.1 billion — the highest figure ever recorded
As many as 6,252 ships crossed the canal from July to September, with a total net payload of 372.7 million tons
Meta to sack thousands of employees: Wall Street Journal
Meta is planning to sack thousands of employees this week, becoming the latest tech firm to scale back its workforce....The latest plans from Meta follow recent announcements by other tech firms to freeze hiring or cut their workforce as the industry fights economic headwinds
Twitter, freshly acquired by Elon Musk, abruptly fired about half of its 7,500 employees last week
Investors remain split over crypto market prospects
While some expect cryptocurrencies to fall even deeper before staging a sustainable recovery, others hope that the market will get...While some expect cryptocurrencies to fall even deeper before staging a sustainable recovery, others hope that the market will get healthy in the last quarter of 2022.
Many observers believe that bitcoin and gold share some similarities, which may be another factor pushing the cryptocurrency's price.
Commercial operations begins at Al-Zour Refinery project in Kuwait
Kuwait City, Kuwait - The Kuwait Integrated Petroleum Industries Company (KIPIC) has started commercial operations of the first phase of...The project started last month to produce and sell primary quantities of fuel oil and supply it to local electric power stations.
Acting CEO of KIPIC Waleed Al-Bader said the operation is important and a mainstay of the country's development plan.
Middle East’s sports path to boosting tourism
The Arabian Gulf countries have hosted some of the biggest sporting events during the past decade. The World Cup is...Doha and Riyadh have been selected to host the upcoming editions of the Asian Games---Doha in 2030 and Riyadh in 2034.
The mountain resort of Trojene, which is being developed in Saudi Arabia's futuristic Neom city, will host the 2029 Asian Winter Games.
‘UAE to reveal implementation map of Net Zero 2050 at COP27’
Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said the UAE’s participation in the 27th session of...A UAE minister said the COP27 focuses on financing and ensuring equitable participation of developing countries in climate action efforts.
She said the UAE will invite the world to participate in the efforts to spread and use renewable energy.
GAL signs MoU with GMF
The MoU is aimed at maintenance, repair, overhaul.The MoU also provides for cooperation in the field of capability development to attract domestic and international military markets.
GAL is a UAE company engaged in aircraft Maintenance, Repair and Overhaul.
