Shares in India’s Paytm dive 20%
Banking arm asked to stop accepting fresh deposits.Company News Business
GSK profit in 2023 falls
The drug maker said revenues swelled 3 percent to $38.54bn.Company News Business
Istanbul Airport first in Europe with 1,327 average flights daily
Istanbul Airport ranked first in Europe in terms of the average number of daily flights during the period of July...The Airport exceeded the French Charles de Gaulle Airport and Amsterdam Airport Schiphol by number of flights
Istanbul Airport also topped the list of airports in terms of the number of passengers during the month of June
Gazprom suspends gas export to Latvia as tensions escalate
Russian energy giant Gazprom Saturday suspended gas supplies to Latvia following tensions between Moscow and the West over the conflict...Gazprom suspended its gas supplies to Latvia due to "violations of the conditions" of purchase, the company said on Telegram.
Gazprom drastically cut gas deliveries to Europe via the Nord Stream pipeline on Wednesday to about 20 percent of its capacity.
DEWA’s Marafeq Smart Feature speeds up issuing of NOCs
Dubai Electricity and Water Authority (DEWA)’s Marafeq Smart Feature has contributed to accelerating issuing of No Objection Certificates (NOCs) for...DEWA’s Marafeq Smart Feature has enhanced collaboration with other utilities in Dubai
Till the end of June 2022, around 15,000 NOCs have been approved using this feature
‘Credit by national banks rose to US$3.5bn till April 2022’
Credit facilities provided by national banks to the business and industrial sector rose 1.92 percent to US$3.5 billion (AED13.1 billion)...The cumulative balance of credit provided by national banks to the sector on a year-on-year basis grew by 2.14 percent.
Value of credit facilities extended by national banks to the sector accounted for 89.1% of gross accumulative credit balance.
‘Kuwait an important partner in oil exploration sector’
Secretary-General of the Malaysian Foreign Ministry said Kuwait is an important partner in oil explorations sector, urging closer investment relations...Secretary-General, Malaysian Foreign Ministry says Kuwait is an important partner in oil explorations sector
The official urges closer investment relations between the two countries.
Standard Chartered posts record profit in H1 of 2022
The bank's profit rises 28% to US$581 million in the first half.The bank witnessed double-digit income growth and high Operating Profit growth in major markets like the UAE, Pakistan, and Ghana
The bank’s operating profits has also increased to with US$581 million, a 28% increase in operating profit compared to last year
GCC equities post modest gains this week
Equities in the GCC posted modest gains this week while concerns persist about surging global inflation and how central banks...First Abu Dhabi Bank's and the real estate sectors' declines contributed to the overall index's fall at the start and end of the week on the Abu Dhabi Securities Exchange
On the other hand, the banking sector helped the general index of the Dubai Stock Exchange recover from a 0.7 percent loss on Monday to end the week up 1.1 percent
AI, cloud tech revolutionizing Middle East retail sector
Real-time shopping platforms accessible via multiple channels and featuring high-definition live streaming as well as personalized services are boosting client...Real-time shopping platforms accessible via multiple channels and featuring high-definition live streaming as well as personalized services are boosting client engagements
In the next three years, AI adoption in retail and consumer products will increase from 40 percent to more than 80 percent, according to the IBM Global Technology
Yemen’s ancient honey production a victim of war, climate change
Experts consider Yemeni honey some of the best in the world, including the prized Royal Sidr known for its therapeutic...Experts consider Yemeni honey some of the best in the world, including the prized Royal Sidr known for its therapeutic properties
The United Nations says honey plays a "vital role" in Yemen's economy, with 100,000 households dependent on it for their livelihoods
QEWC finalizes buying 40 percent shares of Nebras
Qatar Electricity and Water Company (QEWC) said Raslaffan Operating Company WLL, a wholly-owned subsidiary of QEWC completed the purchase of...QEWC said that the completion of the purchase process came as a continuation of the statement issued by the company on January 4
On January 4, QEWC said Raslaffan Operating Company WLL has completed purchase of 40 percent of the share capital of Nebras Power
