Europe gives accent to instant payments across the union
Brussels, Belgium - Bank customers will soon be able to transfer money across Europe within seconds after the EU adopted a...Business
WTO pushes for reform, warns multilateralism ‘under attack’
Speaking on the first day of MC13, WTO Director-General Ngozi Okonjo-Iweala highlighted a need to "reform the multilateral trading system"...Business
UAE takes part in G20 Health Working Group in Indonesia
UAE's Ministry of Health and Prevention (MoHAP) has taken part in the G20 Health Working Group (HWG3) meeting in Indonesia...The UAE ministry's delegation highlighted the importance of promoting solidarity among member states to better meet essential health needs.
The delegation said UAE is ready to cooperate with Indonesian officials to expand vaccine manufacturing and research hubs for pandemic prevention.
Sixteen European news agencies launch joint Brussels newsroom
The 16 agencies -- dpa, AFP, AGERPRES, ANSA, APA, ATA, Belga, BTA, EFE, Europa Press, FENA, HINA, MIA, STA, Tanjug and...The hope is that by working more as a network, the agencies' pooled resources will provide a deeper understanding of European news to readers in their home national markets.
Journalists from the smaller European agencies will share workspaces in Belga's Brussels headquarters and offices near EU headquarters, as well as training opportunities.
Mubadala Petroleum rebranded
The company achieved the 500,000-boed milestone this year.In 2017, Mubadala Energy shifted its strategy to natural gas, a transition that saw the company realize key projects.
Other major gas projects include Mubadala Energy's operated Pegaga gas field in Malaysia.
Lufthansa pilots to strike again, escalating wage dispute
A week after the airline was forced to cancel all flights due to a pilots’ walk-out on Friday, affecting 130,000...The pilot union is seeking a 5.5 percent wage increase by the end of the year, automatic compensation for inflation and adjustments on its salary grid
Lufthansa has said the entire package sought by Cockpit would raise pilot personnel costs by 40 percent or $900 million
Tabby launches in Egypt
The shopping app looks to widen its market in MENA.Tabby works with multiple brands to offer flexible payments at checkout
It is currently ranked among the top 10 shopping apps in the Middle East with more than 2 million active shoppers
Porsche to enter stock market before the end of 2022: VW
The auto giant officially signalled its intention to go ahead with the IPO on February 24, the day that Russia...The luxury brand continues to attract the attention of investors, who value Porsche between 60 and 85 billion euros
Suitors including the Qatari sovereign wealth fund and luxury brands group LVMH have registered an interest in the high-end carmaker
US says oil supply must shore up growth after OPEC+ cut
In a thinly veiled criticism of the OPEC's decision to cut supply, the US said that oil production must be...The United States had pressed OPEC+ to increase output to bring down energy prices that have fueled decades-high inflation
The G7 group of industrialized powers, in a bid to curb Moscow's funding of its war in Ukraine, agreed Friday to move towards capping the price of Russian oil
DMCC puts on display world’s largest pink diamonds at DDE
DMCC has hosted the unveiling of one of the world’s largest internally flawless fancy vivid pink diamonds – the "Williamson...The 11.15 carat flawless pink diamond started its roadshow in Dubai, one of the world’s leading diamond trade hubs
Expected to fetch over US$21 million, the Williamson Pink Star diamond has the potential to set a new price per carat record given its incredible purity
Despite sanctions, Russia energy exports vault to US$158bn
In spite of the Western sanctions, Russia has raked in some $158 billion in energy exports in the six months...While the EU has stopped purchases of Russian coal, it is only progressively banning Russian oil and it has not adopted any limits on the imports of natural gas
The G7 countries, meanwhile, vowed Friday to push forward urgently to impose a price cap on Russian crude, a move that would deprive Russia of much of the revenue
ESG strategy of firms in Middle East must not derail
Winning firms are exploring innovative alternatives, guided by a strong sense of purpose and a flexible strategy. Disruption doesn’t demolish...Over the past few years, shifting investor and customer expectations cemented the importance of ESG in the corporate world, allowing it to withstand these kinds of shocks
The ESG has become an explicit decision-making consideration for companies, rising to the level of finance concerns, risk, operational integrity, and customer impact
