Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...Business Economy
Facebook to settle lawsuit on private data misuse
Facebook, since the Cambridge Analytica scandal broke, has removed access to its data from thousands of apps suspected of abusing...In a lawsuit initiated in 2018, Facebook users accused the social network of violating privacy rules by sharing their data with third parties
Cambridge Analytica, which has since shut down, had collected and exploited, without their consent, personal data of 87 million FB users
Heavyweight stocks lift up Saudi, UAE markets
After a nervous start to the week, the big stocks of the GCC, Al-Rajhi Bank, Retal Urban Development Company, and...The Abu Dhabi Securities Exchange index finished the week up 0.5 percent, with five sectors and 34 shares gaining ground
The Saudi index finished the week up 1.2 percent due to gains of 1.6 percent at Al Rajhi Bank and 0.8 percent at Retal Urban Development Company
Electronic payments scan more success than cash
Despite ease in the measures set to combat the COVID-19 pandemic, electronic payments in the Gulf countries surged more than...Despite ease in the measures set to combat the COVID-19 pandemic, electronic payments in the Gulf countries surged more than cash payments in several other Arab countries
Gulf govts have consistently been working to popularize electronic payment in many sectors as part of their national plans to establish governance and optimize automation
Macron winds up Algeria visit with ‘irreversible dynamic’ of progress
French President Emmanuel Macron and his Algerian counterpart Abdelmadjid Tebboune Saturday declared a "new, irreversible dynamic of progress" in their...The three-day visit comes less than two months after Algeria marked six decades of independence following 132 years of French rule
It comes as European powers scramble to replace Russian energy imports - including with supplies from Algeria, Africa's top gas exporter
Japan vows billions at Africa investment conference
Japanese Prime Minister Fumio Kishida Saturday pledged $30 billion over three years for Africa in a virtual address to a...Japanese Prime Minister Fumio Kishida Saturday pledged $30 billion over three years for Africa in a virtual address to a development conference in Tunis.
Host country Tunisia is among the countries bearing the brunt of global supply chain disruptions and price spikes since it is heavily import dependent.
Saudi Arabia, Malaysia discuss food security
Saudi Arabia and Malaysia discussed cooperation in food security and the promotion of the private sector to benefit from investment...Minister of Environment, Water and Agriculture Eng. Abdulrahman bin Abdulmohsen Al-Fadhli represented Saudi in meeting
Al-Fadhli met with Malaysia’s Minister of Agriculture and Food Industries Ronald Kiandee in Riyadh to discuss cooperation
UN session on high seas biodiversity ends without pact
United Nations member states ended two weeks of negotiations without a treaty to protect biodiversity in the high seas, an...Many had hoped the session would be the last and yield a final text on "the conservation and sustainable use of marine biodiversity beyond national jurisdiction.
It will now be up to the UN General Assembly to resume the fifth session at a date still to be determined.
Saudi Arabia imports more cars in H1 than in whole of last year
Saudi ports have witnessed a growth in car imports during the first quarter of 2022, amid an increase in cargo...The kingdom has imported 320,000 cars during the first half of 2022— equivalent to 57 percent of last year's total figure
The cars were mostly imported from Japan, US, and South Korea, with Thailand, Germany, China, and India also playing a prominent role
SALIC to set up storage center
Its CEO said the center will store imported edible oil.The announcement was made in a Saudi-Malaysian private sector meeting in Riyadh, which discussed areas of cooperation and investment opportunities
The center, which will be constructed by the Public Investment Fund-owned firm, will serve as a distribution point for edible oils in the region
Moderna to sue Pfizer, BioNTech over ‘copying’ of vaccine
Moderna has accused Pfizer and BioNTech of copying its technology to make Comirnaty , alleging that the partners infringed on...Pfizer has said that it will "vigorously defend against the allegations of the lawsuit"
Moderna said it pledged in October 2020 not to enforce its Covid-19-related patents while the pandemic continued but less than two years later changed that stance
