OPEC+ panel reaffirms cartel’s current output reduction strategy
In an effort to shore up prices, the OPEC+ oil alliance of 23 nations has implemented supply cuts of more...Business Economy Energy Geostrategy
Shell annual profit drops to US$19.4bn
Its revenue dived almost a fifth percent to US$316.6 billion.Business Energy
Firm seeks professional to taste test 3,500 candies
The new hire will get an annual salary of $78,000. Since the Chief Candy Officer is required to taste thousands...Candy Funhouse, a Canadian online candy shop, said it has received more than 100,000 candidates in two weeks.
On social media, the posting is a big hit with adults and children alike. One Twitter user said that his eight-year-old daughter had made a LinkedIn profile just to apply.
Dubai records realty deals worth $241 million on Wednesday
Dubai recorded realty transactions worth AED888 million ($241 million) on Wednesday. The real estate market in the emirate recorded 310...The real estate market in the emirate recorded 310 sales transactions worth AED668.1 million, in addition to 86 mortgage deals of AED163.78 million.
A day earlier, Dubai real estate market recorded AED1.2 billion in realty transactions.
Lufthansa posts $263m profit
In 2020 a government bailout saved airline from bankruptcy.CEO Carsten Spohr said that airline was back in the black, terming the pandemic as most serious crisis to hit the company
Lufthansa will start hiring some 5,000 employees to cope with growing chaos at airports
SNHC posts 122% jump in profit
Sharjah Hotels occupancy rate jumped to 67 percent in H1.The improved performance brought the hotel group closer to pre-pandemic levels in the second half of 2022, showing a steady return in customer confidence
The hotel group is looking for opportunities to expand its portfolio of managed hotels and catering contracts
Aramco, Sinopec to partner on projects in Saudi Arabia, China
This latest collaboration builds on existing joint ventures between the two companies.This latest collaboration builds on existing joint ventures between the two companies
The companies will discuss the establishment of a manufacturing hub in King Salman Energy Park
Hotel construction to see boom in Saudi Arabia: TOPHOTEL Projects
Saudi Arabia will see a boom in construction of hotels in 2023, with some 63,753 to be available for guests...According to the TOPHOTEL Projects, some 80 hotel projects in the kingdom are scheduled for completion next year
Saudi Arabia has led the hotel construction market in the Middle East with some 37,654 rooms being built at the end of the second quarter of 2022
UAE’s high-end luxury sectors most crypto-friendly
Most luxurious vacations are purchased through crypto, same goes for luxury real estate and many more retail services, says Atul...Most luxurious vacations are purchased through crypto, same goes for luxury real estate and many more retail services, says Atul Hegde, NFT & digital marketing expert
The biggest challenge is ‘acceptance’. A confident consumer base compatible with dealing in crypto is needed to push these payments, he adds
Airbus cancels A350 aircraft contract with Qatar Airways
European aircraft maker Airbus has cancelled its contract to deliver 19 A350 planes to Qatar Airways, a source close to...Airbus had already cancelled a multi-billion-dollar order of 50 planes from Qatar Airways, a major customer, earlier in the year.
Qatar Airways has been locked in dispute with Airbus over degradation of exterior fuselage surfaces on some of its A350 planes.
France warns companies might have to cut energy use this winter
The French government warned Wednesday that companies might have to reduce energy use this winter even with the country's natural...Moscow has slashed its exports to Europe in response to punishing Western sanctions over the invasion of Ukraine by Russian forces.
France is less reliant on Russian supplies than other EU countries, but its industrial sector still relies on gas and millions of people use it.
OPEC+ meeting in focus as it decides on oil production strategy
After cutting production in 2020 in response to falling prices during the Covid pandemic, OPEC+ began to modestly raise it...The cartel led by Saudi Arabia and Russia has so far resisted US pressure to ramp up production significantly.
Biden visited Saudi Arabia in July to convince the Kingdom about producing more oil and stabilizing market.
