Saudi Arabia’s air defense commander examines Russia’s S-350, S-400 systems
RIYADH, SAUDI ARABIA – The Commander of the Royal Saudi Air Defense Force Lieutenant-General Mazyad bin Suleiman Al-Amr has inspected...Business Geostrategy
Maqta acquires stake in Dubai Technologies
The majority stake was acquired for $7.6 million.Company News Business
Ethereum blockchain completes software upgrade to cut energy use
Leading cryptocurrency figures hailed on Thursday the completion of one of the biggest software upgrades the sector has ever attempted,...Developers had spent years working on an energy-efficient version of Ethereum, a digital ledger that underpins tens of billions of dollars worth of cryptocurrencies, etc.
Ethereum is the second most important blockchain after bitcoin, but it has faced criticism for burning through more power each year than New Zealand.
Sharjah to host International Jewelry Designers Forum
Expo Centre Sharjah has said that it will host the International Jewelry Designers Forum on October 7.The forum will discuss a number of thematic topics, including future trends in jewelry and gem designs.
It will also discuss important techniques used in combining stones and lab-created diamonds.
TV series ‘The Crown’ brings mourners closer to royals
First aired in 2016, it charts the queen's journey from nervous 25-year-old neophyte to national institution as she guided the...First aired in 2016, it charts the queen's journey from nervous 25-year-old neophyte to national institution as she guided the monarchy through decades of scandals and upheaval
The last season to air drew some criticism in UK for taking too much artistic license and allegedly portraying Charles excessively negatively over his treatment of his ex-wife
Saudi Arabia to enhance wheat storage capacity
Saudi Arabia is looking to enhance wheat storage capacity in the kingdom by building new silos. Once it is done...At present, Saudi Arabia’s wheat storage capacity amounts to 3.5 million tons, distributed across 14 branches in the kingdom
A project to construct silos in NEOM city has also been awarded to enhance the kingdom’s storage capacity.
Al-Ittefaq plans an IPO
The $2bn worth Saudi steel giant will list on Tadawul.The value of the company is estimated at over $2 billion
A deal with the financial adviser to manage the company’s initial public offering is expected soon
DMCC doubles Chinese companies over last five years
The free zone is home to 703 Chinese businesses, representing nearly 12 percent of the Chinese companies in the UAE.The free zone is home to 703 Chinese businesses, representing nearly 12 percent of the Chinese companies in the UAE
DMCC has created an integrated infrastructure including the establishment of the Yingtian Chinese Business Centre that caters to the Chinese business community
The melting fortunes of OSN
A once market leader that everyone looked up to, OSN is now a paler version of its former glory. It...Moody's warned in 2020 that there was "slow progress achieved in turning around Orbit Showtime Network’s performance since November 2018, which remains unprofitable"
Aside from its financial troubles, OSN’s top management has been in a state of flux, with three CEOs changed during the last five years
TikTok search results rife with misinformation: report
Toxicity and false claims are a "significant threat" at TikTok, which is becoming a go-to online venue for young people...NewsGuard in September analyzed the top 20 results from 27 TikTok searches on news topics, finding that 19.5 percent of the videos suggested contained false claims
Researchers said that they compared TikTok and Google results from searches for information about school shootings, abortion, Covid-19, US elections and Ukraine war
Huge fine against Google upheld
The General Court, however, reduced the fine to $4.1bn.The court "confirms European Commission's decision that Google imposed unlawful restrictions on manufacturers of Android mobile devices" in order to benefit its search engine.
The levy remains the EU's biggest ever despite Google's arguments that the commission's case was unfounded and falsely relied on accusations.
Lufthansa back in private hands
The German government sold its last shares in the company.To save Lufthansa from bankruptcy during Covid, Germany took a 20-percent stake in the group under a nine-billion-euro (dollar) state aid package.
Germany agreed to sell the stake by 2023, but with Lufthansa's finances stabilizing, Berlin was able to start selling its holdings by November last year.
