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UBS reports lower net profit in 2023
The Swiss government pushed it to buy Credit Suisse last year.Business
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Airports fly into technology, security innovations
“The future of travel heavily depends on the transformative power of biometrics and touchless passenger experiences. These innovations aim to...Thani Alzaffin of Emaratech Group highlights the crucial role of advanced technologies in modernizing airport security.
Middle Eastern airports are adopting state-of-the-art security measures, including facial recognition and iris scans.
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Bahrain and GCC look to boost ‘convention, exhibition’ industry
Manama, Bahrain-- Bahrain and the Gulf Cooperation Council (GCC) are looking to boost cooperation in the convention and conference industry...The Bahrani minister spoke of the kingdom's resolve to continue developing the exhibitions' sector by providing it with facilities
The two sides discussed establishing more major international events and exhibitions across the cities of the GCC countries
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IPT Energy floats new firm in Sharjah
It will engage in the import and trading of oil products.The new company will be involved in the import and trading of refined oil products, petrochemicals, lubricants, and grease
It has invested $11m as first stage investment in the emirate and plans to double this investment to $22 million by 2025-26
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Macy’s rejects $5.8bn takeover deal
The company also owns the Bloomingdale's store chain.Macy's said the proposal "does not constitute a basis to enter into a non-disclosure agreement," with Arkhouse and Brigade
In a letter to the two firms, Macy's chairman Jeff Gennette said he had "serious reservations" about their ability to finance the deal
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ASFAR, Municipality of Al-Ahsa sign agreement
RIYADH, SAUDI ARABIA - ASFAR, the Saudi tourism investment company wholly owned by the Public Investment Fund of Saudi Arabia,...The agreement aims to develop a major tourism attraction in the Eastern Province of the Kingdom of Saudi Arabia.
The partnership between ASFAR and the Municipality of Al-Ahsa is set to transform the Eastern Province’s leisure and hospitality sectors.
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Imane Ayissi brings African tradition to Paris couture
PARIS, FRANCE - Imane Ayissi is on a mission to put authentic African textiles in the spotlight but faces an uphill...Ayissi in 2020 became the first designer from sub-Saharan Africa at haute couture week and seeks to resurrect more traditional fabrics like rafia.
Such fabrics are drawn from local trees and plants, that were used before the African market was flooded with imports during the colonial period.
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European market up on record-busting Wall Street
A surge in tech titans including Apple, Amazon, Nvidia and Facebook parent Meta on Friday pushed New York's S&P 500..."European indices are pushing higher... as optimism over the direction of US earnings provide a tailwind behind tech stocks in particular," an expert said.
Back in Asia, Tokyo was the main winner again, extending its blockbuster start to the year thanks to a weaker yen and rising Japanese inflation.
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Mac computers could reach new glory due to AI
SAN FRANCISCO, US - Forty years after igniting a PC revolution, Apple's Mac is stronger than ever and could reach new...Macs became the preferred choice for Apple fans along with artists, film makers and other creative professionals.
Apple has been making inroads in business, getting help from iPhone lovers using their smartphones for work.
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Bahrain Q4 2023 imports increase to US$3.92bn
MANAMA, BAHRAIN - The Information eGovernment Authority (iGA) has published its foreign trade report of Bahrain for Q4 2023, covering...The top 10 countries accounted for 69 percent of Bahrain's total export value.
The value of exports with national origin was of $2.89 billion during Q4 2023.
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Alef Group announces US$84m sales transaction at ACRES 2024
SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant...ACRES Exhibition is a unique global Arab platform which brings together major investors and businessmen.
This is evident in the success achieved by the ACRES over its successive sessions since its launch in 2008.