Saudi tech show LEAP 2024 to close on ‘record-breaking’ note
Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing...Business
European stocks fall on fears of aggressive Fed interest rate hike
Europe's main stock markets slid at the open on Thursday, as a fresh spike in US inflation reinforced expectations of...In initial deals, London's FTSE 100 index lost 0.3 percent to 7,138.54 points compared with the closing level on Wednesday.
In the eurozone, Frankfurt's DAX index slid 0.2 percent to 12,733.34 points and the Paris CAC 40 shed 0.4 percent to 5,977.05.
Twitter down for short period in US, Europe, restored later
Twitter experienced a widespread but seemingly brief outage in the United States and parts of Europe on Thursday. The Downdetector...The Downdetector website showed that outage reports spiked in the United States around 1200 GMT and by around 1245 GMT reports of outages to Downdetector were dropping off
Short term service disruptions on social media platforms happen periodically while long-term service outages on social media platforms are not common
ADFD, ADEX to give US$92m loan for Bahrain water supply project
Abu Dhabi Fund for Development and the Abu Dhabi Exports Office signed two loan agreements with the Electricity and Water...AED will provide US$ 41mn to the Electricity and Water Authority in Bahrain to finance a water supply network project
ADEX will provide US$ 51 million for the project which aims to enhance the capacity of the water transmission networks
Bank Muscat net profit up 5 percent
The bank said profits up despite lower net interest income and higher expenses.The Bank said that net interest income from conventional banking and net income from Islamic financing reached 166.25 million riyals.
Operating expenses went up by 8 percent to 102.71 million riyals.
UAE imports of Spanish fruit and vegetables top AED181m
Spain exported a total of 22,827 tonnes of fruit and 17,753 tons of vegetables to the UAE last year.Spain exported a total of 22,827 tonnes of fruit and 17,753 tons of vegetables to the UAE last year
The Fruit Attraction 2022, the leading exhibition for the fruit and vegetable sector, is scheduled to be held from October 4-6 in Dubai
Saudi Ports Authority reports 16% jump in cargo in June
Saudi Arabia has reported a 16 percent increase in cargo volumes to 27.1 tons in June 2022, according to the...According to figures 27.1 million tons went through the nine ports managed by the authority, compared to 23.4 million in June 2021
According to Mawani, Saudi ports received 1,126 vessels in June, rising by 13.6 percent compared to the same period last year
‘GCC inflation still remains lesser than UK’
The tighter monetary policy from US Fed and the continued raising of interest rate will have an impact in the...The tighter monetary policy from US Fed and the continued raising of interest rate will have an impact in the GCC, says Simon Ballard, chief economist of First Abu Dhabi Bank.
Ballard believes GCC governments will need to address the underlying levels of spending support for consumer through continued stimulus packages
Panasonic to build $4bn electric vehicle battery plant in US
Japanese electronics giant Panasonic said Thursday it will spend $4 billion to build a new battery factory in the United...The factory will be Panasonic's second electric car battery operation in the United States, joining its facility in Nevada
The announcement comes with Tesla struggling to boost production, after unveiling two new factories in Germany and the US
Twitter’s stock climbs up after hedge fund bets against Musk
Twitter shares jumped Wednesday after a hedge fund revealed it had taken a stake in the firm based on its...The suit filed in the US state of Delaware urges the court to order Elon Musk to complete his deal to buy Twitter
Last week, Tesla boss pulled the plug on the deal, accusing Twitter of "misleading" statements about the number of fake accounts
Netflix partners with Microsoft to offer cheaper streaming plan
The ad-supported subscription will be in addition to the three options already available, the cheapest being $10 per month in...The ad-supported subscription will be in addition to the three options already available, the cheapest being $10 per month in the United States
Microsoft will be responsible for designing and managing the platform for advertisers who want to serve ads to Netflix users
