Tesla stops production at German plant after suspected arson attack
Michael Stuebgen, interior minister for Brandenburg state, said that "if initial findings are confirmed, this is a perfidious attack on...Business
UAE F&B sector set to soar, projected to reach $20bn in 2024
Dubai, UAE - The UAE’s foodservice market is poised to reach $19.98 billion in 2024, with further projections indicating a substantial...Business
Meta unveils new virtual reality headset Quest Pro
Meta said it is partnering with Microsoft and others to tune popular business and productivity software to virtual worlds using...The $1,500 Meta Quest Pro features a number of new features that are meant to improve users' perception of truly being in the presence of other people
The headset makes it possible to view not only virtual worlds but also the real environment of the user, thanks to high-resolution outward-facing cameras
Retal’s stock rises 2.4%
It will build 550 housing units in Riyadh for $161m.Retal said in a bourse filing that the project is expected to positively affect the company’s results after the sale begins and the project is completed
Last month, Retal and National Housing signed another agreement to build 759 housing units in Riyadh
Automation poised to transform GCC labor market
About 42.6 percent of jobs in the region will be automated by 2030, ahead of the global average of 32...Management consulting firm McKinsey predicts that 42.6 percent of jobs in the GCC will be automated by 2030, ahead of the global average of 32 percent
As a backup plan against future pandemics, the GCC's business automation strategies evolved quickly during and after the COVID-19 pandemic
EU energy head hails “partnership” with Algeria
Seeking new exporters of gas to the continent, European Union's energy commissioner has hailed a "long-term strategic partnership" with Algeria...Algeria has helped Europe diversify its energy supplies by pumping more gas to Italy, which in July signed a deal to import billions more cubic metres
Energy Minister Mohamed Arkab said his country was "a trusted supplier" that always honors its obligations
DEWA to enhance ties with foreign firms at GITEX Global 2022
MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer received Consul-General of Canada to Dubai...Al Tayer emphasized DEWA’s keenness to consolidate cooperation and exchange expertise with Canadian companies.
The DEWA CEO highlighted DEWA’s key development projects and strategic initiatives, especially the technological projects.
UAE to launch new integrated ‘EmaraTax’ platform later this year
Dubai, UAE---The UAE Federal Tax Authority (FTA) has announced that the new "EmaraTax" integrated platform will be launched later this...EmaraTax will significantly enhance the way that taxpayers can access the FTA’s services, pay their taxes and obtain refund.
The new platform also greatly enhances the ability of the FTA to administer taxes in the UAE.
Villas, apartments worth $265 million sold in Dubai
Dubai, UAE--- Dubai real estate market recorded realty deals worth AED1.5 billion ($408 million) on Tuesday, Dubai Land Department said.The total realty deals recorded during the day amounted to $408 million, according to Dubai Land Department.
Mortgages included 47 villas and apartments worth AED109.29 million and 30 land plots valued at AED80.72 million.
Equities, oil prices slide on recession fears
Stock markets and oil prices slumped as investors grow fearful that more big interest rate hikes will tip economies into...Traders had hoped that bumper rate increases by the US Federal Reserve this year would begin to drag on the economy and slow runaway prices.
Chip manufacturers globally took a pounding from new US export controls.
Unemployment Insurance Scheme comes into force in UAE
The Ministry of Human Resources and Emiratization (MoHRE) of UAE announced that an 'Unemployment Insurance Scheme' for employees of the...The insured will be compensated with cash for a specific period of time if they lost their job until they find another employment
The compensation will be paid monthly, calculated at 60 percent of the employee’s subscription salary.
QNB posts 7% rise in profit
Its net profit for the first nine months of the year was $3bn.QNB has been subject to hyperinflationary accounting requirements since the second quarter of 2022 for its Turkey operations
The Doha-based lender’s operating income increased 24 percent year-on-year to $7.03 billion
