Apple’s changes contradicts European rules, 34 firms complain
Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...Business Economy Global Tech & Media
Energy security vital for economic growth, says Saudi minister
Saudi Arabia's Minister of Finance Mohammed bin Abdullah Al-Jadaan said energy security is very important for the economic growth and...Saudi Arabia's finance minister says energy security is important for the economic growth and prosperity of the world
The finance minister says energy supplies, economic development and climate change vital aspects of the world
UAE to issue dual-tranche dollar benchmark size bonds
The UAE government has announced it will issue a dual-tranche US dollar benchmark size bonds with a 10-year tranche and...The bonds are a 10-year tranche and a 30-year Formosa tranche.
The 10-year tranche will be listed on London Stock Exchange and Nasdaq Dubai, and the 30-year tranche will be listed on LSE, Taipei Exchange and Nasdaq Dubai.
UAE listed firms to pay $9.36 bn cash dividend for 2021
Listed public joint stock companies have approved AED 34.4 billion ($9.36 billion) cash dividends for 2021, according to the Securities...While AED34 billion earnings were distributed in cash, AED396 million were in form of stock dividends.
Banks are the largest distributors of profits, AED15.79 billion, followed by the telecommunications (AED11.7 billion) and the realty sectors (AED1.85 billion).
Saudi Re bags A3 rating
The firm got top rating with a stable outlook from Moody's.Saudi Re said that the ratings confirm its strong brand and market position in Saudi Arabia as the sole Saudi professional reinsurer
Saudi Re has initiated the process of increasing its capital by up to SAR 445.5 million ($119 million) to strengthen its capital base
GCC and UK aim to boost trade beyond current figure of $34bn
The Gulf Cooperation Council (GCC) and the UK began negotiations in Riyadh to boost trade, which stands at $34 billion.GCC Secretary-General Nayef Falah M. Al-Hajjraf met UK Trade Secretary Anne-Marie Trevelyan to launch the trade talks
The UK is the third-largest export market for the GCC, and the new trade negotiations are expected to benefit exporters from both jurisdictions
Dubal Holding signs deal with MOIAT
The deal will foster industrial cooperation between the two.Both the parties have agreed to cooperate in developing a framework for advancing the industrial and technology sectors in line with the directives of the UAE’s leadership
Some of the projects currently being explored include Non-Recyclable Plastics to Liquid and Secondary Lead Smelter & Refinery through Recycling of Used Lead Acid Batteries
Oil prices and equities decline on recession fears
Oil prices fell Wednesday on worries over weakening demand in the slowing global economy as Federal Reserve Chief Jerome Powell...The S&P 500 finished just 0.1 percent lower, meaning it maintained most of the gains from Tuesday's heady session
Oil prices were feeling the heat from recessionary fears, with both main contracts tanking more than six percent at one point
Google first paying customer for Wikipedia’s commercial venture
Wikipedia, one of the world's most visited websites, is free to use, updated by volunteers and relies on donations to...Google said it had already made deals with hundreds of news outlets across Europe, Agence France-Presse among them.
Google has previously given money to Wikipedia through donations and grants.
Oil, stocks fall again as economic recession looms large
Surging energy costs are fueling global inflation, with official data Wednesday showing the British annual rate hitting a fresh 40-year...Oil prices were feeling the heat from recessionary fears, with both main contracts tanking more than five percent at one point.
Crude and gas prices have soared in recent months after major economies lifted pandemic lockdowns and invasion of Ukraine.
Saudi-Jordan trade value reaches $.4.4 billion riyals in 2021
The trade exchange volume between Saudi Arabia and Jordan reached 16.6 billion riyals ($4.42 billion) in 2021, compared to 11.6...Saudi Arabia invested $14 billion through 900 projects in Jordan, according to Saudi media reports.
The volume of Saudi exports to Jordan amounted to 11.6 billion riyals.
