Rat on a plane sparks worries for Sri Lanka’s airline
Colombo, Sri Lanka - Sri Lanka's national airline on Tuesday blamed a rat for grounding a plane for three days, sparking...Business
UAE banks ride on growth, operational efficiencies
The country's banking sector emerges stronger, showcasing resilience and profitability with a notable 54.1% increase in net income, says a...Business Banking & Finance
Saudi PIF to come out with a debut green bonds issue
Saudi Arabia’s Public Investment Fund (PIF), the sovereign wealth fund at the heart of the kingdom’s reform plans to wean...According to media reports, PIF has set up a financing framework that would allow it to raise green bonds
PIF started raising bank debt in 2018 with an $11 billion facility, followed in 2019 by a $10 billion loan which it then repaid in 2020
Kubernetes simplifies container use in the Middle East
With Kubernetes, regional enterprises have automated their deployment, managment and scaling of containerized applications. Since it is controlled by developers...With Kubernetes, regional enterprises have automated their deployment, management and scaling of containerized applications.
Since it is controlled by developers and not infrastructure teams, there is a better understanding that ultimately leads to high quality results
Loan exemptions: GCC’s way to help individuals, firms
The Gulf countries assist loan defaulters by delaying payments or exempting those who can't pay to save emerging companies and...The Gulf countries assist loan defaulters by delaying payments or exempting those who cannot pay to save emerging companies and prevent their accumulation of financial burdens
Loan exemptions in sectors such as housing, health, marriage and investments are estimated to be in millions of dollars across the region
‘Jordan not affected by India’s decision to restrict rice exports’
President of Foodstuff Traders Association (FTA), Khalil Haj Tawfiq, said India's decision to restrict its exports of some rice varieties...India's decision will not affect availability of rice in Jordan's local market, neither hike its prices.
The decision of banning export of certain varieties of rice are not imported by Jordanian traders.
World Green Economy Summit 2022 theme revealed
Dubai Electricity and Water Authority (DEWA) and the World Green Economy Organization (WGEO) announced that the theme of the 8th...The theme reflects the UAE’s vision of advancing climate action and strengthening partnerships.
It also reflects international efforts to achieve climate goals.
Crypto firm Blockchain.com set to operate in Dubai
According to the company, it has signed an agreement with Dubai's Virtual Assets Regulatory Authority (VARA) and will soon open...According to the company, it has signed an agreement with Dubai's Virtual Assets Regulatory Authority (VARA) and will soon open an office in the region and hire staff
As economic competition heats up in the Gulf region, the UAE is developing virtual asset regulation to attract new forms of business
Whistleblower payment is latest Musk reason to drop Twitter deal
A termination letter sent to Twitter accused the firm of not informing him about a multi-million dollar severance payment it...Musk's lawyers argued that failing to seek his consent before paying Zatko provides another legal basis to break the merger deal with Twitter
Musk has been locked in a bitter legal battle with Twitter since announcing in July that he was pulling the plug on the purchase of the company
Mubadala, TAQA Group to invest in power sector in Uzbekistan
The binding agreements will see Mubadala and TAQA each acquire a 40% stake in two gas-fired power plants.The binding agreements will see Mubadala and TAQA each acquire a 40% stake in two gas-fired power plants
The agreements follow the 2020 agreement with Uzbekistan’s Ministry of Investment and Foreign Trade
Aramco sets new profit record.
The Saudi firm made $279.4bn in profit in 12 months.The figure is equal to the combined profits of Apple, Google’s parent company Alphabet, and Microsoft
Apple, the leader among global companies in terms of market capitalization, ranked second in the profitability index, with profits of $120.5 billion during the 12 months
Ukraine rebuilding to cost US$350bn: report
It will cost some $350 billion to rebuild Ukraine from the devastation caused by the Russian invasion, according to a...The report estimates that $105 billion will be needed to address urgent needs such as restoring education and health systems and infrastructure
Ukraine Prime Minister Denys Shmyhal said reconstruction already was underway in the de-occupied territories but will require help from international partners
