Stocks sink again as Trump holds firm on tariffs
Trading floors across the globe were overcome by waves of further selling after last week's sharp losses, with Trump telling...Business Economy
Stocks, oil slump as China retaliates and Trump digs in heels
Despite the market turmoil, Trump insisted: "my policies will never change". Wall Street stocks fell more than two percent at...Business Economy
ADIB unveils new payment hub
It will help customers to seamlessly process transfers.The bank said customers can now seamlessly process transfers, providing a solution that transforms payment processing capabilities
Its chief digital officer, Fernando Plaza Lopez, said the bank is focused on driving digital-first solutions throughout the bank’s operations
Dubai to host the world’s biggest ‘airport industry show’ in May
Dubai, UAE-- In the month of May scores of airport developers, officials, and suppliers from around the world will troop...Some 150 exhibitors from more than 20 countries and 7,500 visitors from over 30 countries will take part in the event
The aviation market in the Middle East valued at US$60 billion in 2023 has seen a 26% growth in air connectivity in 2022
Saudi tech firm Alat to ally with Softbank, Carrier Corp, Tahakoum, Dahua Tech
Riyadh, Saudi Arabia - Alat Company, a subsidiary of the Saudi Public Investment Fund (PIF), has announced four global partnerships...Amit Midha, global CEO of Alat, said the goal is to aid partner companies in reducing emissions and transitioning towards carbon-neutral production
Midha emphasized Alat's commitment to leveraging clean energy sources such as solar, wind, and green hydrogen integrating sustainability measures across operations
Bank plays crucial role in funding sustainable future
"We continue to capitalize on the promising opportunities in this market through innovative offerings and solutions, while strengthening our substantial...ADIB launches a framework aimed at supporting environmental protection and social justice projects.
The Abu Dhabi-based bank is first global financial institution to issue US dollar-denominated green sukuk.
Crypto crimes rise in GCC amid digital currency boom
The GCC is at a critical juncture, facing the dual challenge of embracing blockchain innovation while combating crypto crime, says...The Gulf region is at a critical juncture, facing the dual challenge of embracing blockchain innovation while combating crypto crime, says Nicola Buonanno of Chainalysis.
Crypto crime encompasses activities from theft and scams to money laundering and ransomware attacks, all orchestrated to exploit cryptocurrencies for illicit gains, he adds.
Walmart to buy TV maker Vizio
The acquisition of the TV maker is worth $2.3 billion.With the all-cash purchase, the US shopping behemoth gains access to Vizio's more than 18 million accounts.
Vizio is known for what Walmart called "immersive entertainment" through a "customer-centric platform".
Oil may rise to $100, gold to hit $3,000 by 2025, says Citi
ABU DHABI, UAE - Oil prices could rise to $100 per barrel and gold prices could reach $3,000 per ounce...Analysts say gold is currently trading at $2,016 and could surge by about 50 percent if central banks dramatically increase purchases.
Another factor that could drive gold prices is the global economy's deep recession, which could prompt the Federal Reserve to cut rates rapidly.
Saudi National Bank launches US dollar-denominated sukuk
RIYADH, SAUDI ARABIA - Saudi National Bank (SNB) commenced the US dollar-denominated senior unsecured sukuk issuance through a special-purpose vehicle.The sukuk are offered to qualified investors...The sukuk are offered to qualified investors inside and outside Saudi Arabia.
The amount and sukuk’s terms of offer will be subject to market conditions.
China steps up green transition drive to meet carbon-emission goals
Beijing, China--China is moving away from traditionally energy-intensive industrial sectors toward green development across key sectors, in efforts to fulfill...According to data, in 2023 a total of 78 steel enterprises completed the full-process ultra-low emission transformation of their production capacity
Some 5,095 green factories have been established at national level, contributing to over 17% of the total output value of the manufacturing industry
Capital One to buy Discover for US$35.3bn
Its shareholders will own 60% of the combined company.Under the deal, Discover shareholders will receive 1.0192 Capital One shares for each Discover share, a premium of 26.6 percent over Discover's closing price on Friday
Acquisition of Discover will help "build a payments network that can compete with the largest payments networks and payments companies," said Capital One founder and CEO
