Dow, S&P 500 hit fresh records, but Nasdaq ticks lower
The tech-rich Nasdaq slipped by 0.3 percent to 15,996.82 -- a day after surging by 3.0 percent following strong earnings...Business
AI in focus as world’s biggest mobile fair gets underway in Spain
Barcelona, Spain - The world's biggest mobile phone fair throws open its doors in Barcelona Monday with the sector looking to...Business
Workers at Britain’s biggest container port begin eight-day strike
The Unite union representing the striking Felixstowe staff said the stoppage will have a big impact at the port, which...Nearly 2,000 unionized employees at the port in eastern England started their walkout Sunday morning in the first strike at Felixstowe since 1989.
It comes amid stoppages over pay and working conditions across various UK industries, with railway workers just the latest to strike on Thursday.
Telecom Egypt and Orange Jordan’s CAB System to connect Iraq to Europe
Telecom Egypt, Egypt’s first integrated telecom operator and one of the largest subsea cables operators in the region, and Orange...The Cairo Amman Baghdad System will be ready for service in the third quarter of 2022.
Once launched, it will be the most advanced, scalable gateway and express route connecting Iraq to Europe using the companies’ networks, the companies said in a statement.
Cross-currency payments face challenges
Cross-currency payments cut the need for foreign transaction fees for customers, encourage customer loyalty and reduce cart abandonment but they...Cross-border payments are not always hugely inclusive to individuals, according to ManagedLEI, a Registration Agent of Legal Entity Identifiers.
In countries where access to a bank account is low, for example, not everyone will be able to make cross-border transactions.
UAE, Egyptian leaders review fraternal relations in Al Alamein City
President Sheikh Mohamed bin Zayed Al Nahyan arrived in Al Alamein City on a visit to the Arab Republic of...President Sheikh Mohamed bin Zayed Al Nahyan has arrived in Al Alamein City on a visit to the Arab Republic of Egypt.
President of Egypt, Abdel Fattah el-Sisi received UAE President Sheikh Mohamed at the airport where the leaders discussed cooperation between the two countries.
Dubai’s RTA reduces energy consumption by 18 percent
Director-General and Chairman of the Board of Executive Directors of the Roads and Transport Authority said that RTA had achieved...RTA had managed to reduce the total emissions by 13 percent and energy costs by 10 percent compared with the average consumption from 2016 to 2019.
RTA has a roadmap that aims to achieve zero-emission from public transport in Dubai by 2050.
WGES 2022 to encourage investment in green projects
The 8th World Green Economy Summit (WGES), to be held in Dubai, will focus on developing investment partnerships in green...In WGES 2022 several heads of states and governments, experts from government and non-government sectors would participate.
The summit would enable finding innovative solutions and financial tools that promote clean and renewable energy projects and sustain growth
JODC posts increase in revenue
High pilgrim traffic caused revenue to go up to $104.34m.Its gross profit rose 152.9 percent to $19.06 million in H1, as against the loss of $36.05 million in the same period of last year
The company expects the increased traffic of pilgrims to sustain for the rest of the year as there remains pent-up solid demand for pilgrims, both domestic and international
Emaar to sell Namshi to Noon
The Dubai developer will sell its online retailer for $335.2m.The Department of Economic Development has revealed that e-commerce licenses issued by the emirate jumped 63 per cent in the first half of 2021
During the last two years of the Covid Pandemic, online buying in the UAE has taken a big leap in growth, with Amazon alone recording net sales of about $500m in 2021
Art market persists with crypto romance
NFT artworks accounted for some $2.8 billion in sales last year and the rate has declined only slightly in the...Thirteen Italian museums recently signed deals with Cinello, a firm that sells limited edition digital reproductions, to offer ownership of digital replicas of masterworks
Cinello said it had digitized more than 200 works and its sales had generated 296,000 euros in extra revenue for Italian museums
Jordan and Algeria agree to boost trade, investment ties
Many Jordanian industrial sectors have the necessary requirements to enter the Algerian market, especially the pharmaceutical components, clothing, chemical and...The business groups also agreed to have more meetings and visits in order to assess investment opportunities
According to official data, the kingdom's exports to Algeria in 2020 amounted to $94 million, compared to about $125 million in imports
