Japan’s Moon craft SLIM revives after lunar night
TOKYO, JAPAN – Japan's Moon lander has produced another surprise by waking up after the two-week lunar night, the country's space...Business Global Science
Goldman Sachs, Mubadala ink pact
The two firms have signed a $1 billion private credit deal.Company News Business Economy Global
Jahez posts profit of US$14.2m
The food delivery platform saw rise in orders on its app in H1.Jahez said the profit surge was mainly driven by a revenue jump of 60 percent to $207 million, from $129.60 million in the corresponding period last year
Orders made through the app surged by 46 percent to 31.5 million during the six months, as the average number of users soared by 48 percent
Iraq looks to neighbors for energy to overcome crunch
Looking to tide over the persistent problem of a lack of energy supply in the country, particularly in the summer...Ahmed Moussa, spokesman for the ministry, said that the electrical connection with neighboring countries will not achieve self-sufficiency for the national system
He said the final operation was signed with Turkey to pass 300 megawatts, but the rise in electricity prices and the rise in demand for gas hampered the implementation
Saudi PIF launches new company to digitize real estate sector
The Public Investment Fund has launched a new company aiming to digitize and develop the local real estate sector through...Saudi Arabia has set an ambitious target of raising home ownership rates in the kingdom to 70 per cent by 2030 under the Sakani program
According to the Ministry of Housing, the home ownership rate rose to 60 per cent in 2020 from 47 per cent in 2016
Recent floodings in UAE call for sustainable infra
It is a wake-up call that warns of a bigger disaster in cities like Dubai and Abu Dhabi if quick...It's a wake-up call that warns of a bigger disaster in cities like Dubai and Abu Dhabi if quick steps aren't taken to deal with heavy rainfalls, Dake Rechsand CEO tells TRENDS
'The existing greenscape and bluescape infrastructure are less suitable for handling excessive rain. Therefore, we are witnessing floods,' Chandra Dake adds
Saudi’s investment funds’ assets fall by 11 percent in Q2
Investment funds hold both local and foreign assets.The decline was attributed to a 10 percent drop year-on-year (YoY) in local assets – which represent 74% of total assets – to $38 billion.
Investment funds are either open- or closed-end, with total assets of open-end funds at approximately SAR 159.7 billion ($42.5bn).
Gulf Navigation repays loan
The $2.7m loan was financed by "Rasmala" for a vessel.In a bid to reduce financing costs, the company said last August that it had refinanced five petrochemical tankers under new and preferential terms with a major Chinese lender.
The debt has also fallen to 294 million dirhams today, compared to 433 million dirhams at the end of 2020.
UAE approves code for education professionals
The UAE Ministry of Education has approved the Code of Conduct for professionals in the sector to set up clear,...The code of conduct will enhance an educator’s professional responsibilities
The code is a framework of the basic values and ethics that an educator must commit to.
Russia sanctions not working, says Italy far-right leader
The leader of Italy's far-right League party, Matteo Salvini, has sparked debate by saying that the unprecedented sanctions the West...Skyrocketing energy prices since the start of the war in Ukraine have wreaked economic pain on countries.
Someone in Europe has made a bad calculation. It is essential to rethink the strategy to save jobs and businesses, said Matteo Salvini, a far right leader in Italy.
Pure Health to invest US$500m
It will buy stake in a US healthcare firm Ardent.Ardent Health Services is the fourth largest private hospital operator in the United States with operations across six states.
Pure Health would receive board observer rights but would not have a seat on Ardent’s board of directors.
Saudi banks’ assets surpass UAE peers first time since 2007
Based on June data of Saudi and UAE central banks, the aggregate assets of Saudi banks (3.529.1 trillion) exceeded those...The Saudi banks’ assets broke the SAR 3 trillion-mark for the first time at the end of Feb 2021, the SAR 2 trillion-mark in Mar 2014 and the SAR 1 trillion-mark in Oct 2007.
Saudi banks’ assets in June made up almost 135 of real gross domestic product (GDP) of SAR 2.614.7 trillion – their highest level ever.
