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
Salik revenue soars to US$574m
Toll usage revenue rose 11.7% YoY to US$502million.Company News Business Tourism
Meta warns of password stealing phone apps
So far this year, Meta has identified more than 400 "malicious" apps tailored for smartphones powered by Apple or Android...The apps often ask people to login with their Facebook account information to use promised features
Meta said that it shared what it discovered with Apple and Google, who control what is offered at their respective app shops
Deal reached for civil aviation to try for net-zero emissions by 2050
The assembly, which brought together representatives from 193 nations at the International Civil Aviation Organization (ICAO) headquarters in Montreal, reached...The agreement, however, was far from satisfying for some NGOs expressing regret it didn't go far enough and was not legally binding
The air transportation industry has faced growing pressure to deal with its outsized role in the climate crisis
OPEC+ output cut ‘a snub’ to Biden and United States
While Saudi Arabia has said it does not use oil as a political tool, US experts see this as a...The move may have ‘serious consequences’ for Saudi Arabia and irreparable damage to its relationship with the Biden administration, warn analysts
Economists in Europe, meanwhile, worry that the OPEC+ decision to cut oil production will deepen the continent’s economic and energy woes
Delegations from France, Italy visit Expo Center Sharjah
Delegations from France and Italy have visited the Expo Center Sharjah to discuss ways to strengthen cooperation and exchange expertise...The meetings were held on the sidelines of the 50th edition of the Watch & Jewelry Middle East Show.
The delegations toured the exhibition and looked into ways to work with the center.
Stocks fall, dollar boosted by US jobs data
Stocks mostly slid and the dollar surged after US jobs data showed only a timid slowdown in the labor market,...There was a brief rebound at the start of the week as investors hoped data pointing to economic slowdown would allow the Fed to slow down rate hikes.
Rising interest rates boost the dollar as foreign investors seek to buy dollar-denominated debt.
UAE, Egypt discuss cooperation in defense industries
A high-level UAE delegation, on a visit to Egypt, met with senior officials of the Egyptian Ministry of Defense.The two sides discussed opportunities for strengthening the overall relations between the UAE and Egypt.
They discussed promoting partnerships between the defense industry of the two countries.
Global food prices fall for sixth month in a row, says UN
World food prices have fallen for a sixth month in a row in September, UN data showed as they continued...The UN agency FAO said its price index averaged 136.3 points in September, a 1.1 percent drop from August.
The monthly decline was driven by a "sharp fall" in the prices of vegetable oils, the United Nations agency said.
EU leaders try for common response to energy crisis
EU leaders meeting in Prague looked to bridge divisions on how to tackle soaring energy prices as they grapple with...EU leaders were discussing how to better protect their critical infrastructure in the wake of leaks from the Russia-Europe Nord Stream gas pipelines.
Europe is facing an energy crunch as the price of electricity generation skyrockets because of a massive surge in gas prices.
TSMC Q3 revenue at US$19.4bn
The firm operates the world's largest silicon wafer factories.The Taiwanese firm controls more than half of global foundry output, with clients including Apple and Qualcomm.
TSMC produces some of the most advanced and smallest chips which are still highly sought after and in short supply.
Nykaa enters into a strategic alliance with Middle East-based Apparel group
Nykaa will leverage the Apparel Group’s robust retail infrastructure network and deep market relationships to build distinctive GCC focused beauty...Nykaa will leverage the Apparel Group’s retail infrastructure network to build GCC focused beauty offerings
Founded by Falguni Nayar in 2012, Nykaa disrupted the Indian beauty market with its content to commerce expertise
