Bezos sells $2bn Amazon shares
He reportedly intends to sell, next July, 50 million shares of the group.Company News Business Markets
Polestar 3, the electric SUV, hits the streets of the UAE
Dubai, UAE – Al-Futtaim Electric Mobility Company, the official distributor of Polestar in the UAE, have announced the official launch...Business
Multiply added to FTSE GEIS
The inclusion will come into effect on June 20FTSE GEIS is part of the FTSE Russell, a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide
It also provides a robust global equity index framework and includes over 16,000 large, mid, small and micro-cap securities across 48 developed and emerging markets globally
Masdar of UAE to develop 4,000 MW of clean energy in Azerbaijan
Masdar has signed an agreement with Azerbaijan to develop clean and renewable energy projects in the country with a combined...As per the agreement, 4,000 MW will be generated in the first phase, while the second phase will generate 6,000 MW
Masdar will develop solar projects with a capacity of 1,000 MW and 1,000 MW of onshore wind
Google loses defamation fight against Australian politician
Australia's federal court ordered Google on Monday to pay more than $500,000 in damages to a politician after finding he...While Google, which owns YouTube, had initially defended the case, the search giant eventually abandoned its defences
Justice Steven Rares found Google liable for the harm caused to Barilaro from December 2020 and ordered it to pay aggravated damages
EDB to take part in Bonds, Loans & Sukuk Middle East
Emirates Development Bank (EDB) will participate in Bonds, Loans & Sukuk Middle East, the region’s largest gathering for the corporate...EDB will use the platform to engage with stakeholders in the investment and development community
The bank is the first federal entity to be issued ratings by S&P and Fitch
UAE, KSA bourses to stay range-bound until 2022-end
The volatility in oil prices will affect the markets. If there is a higher-than-expected decline, the markets may feel the...The volatility in oil prices will affect the markets. If there is a higher-than-expected decline, the markets may feel the heat, Junaid Ansari of Kamco Invest tells TRENDS.
Higher interest rates are expected to benefit banks in the region that account for the second-biggest sector in the region by market cap
Egypt to sign wheat-for-goods swap deal with India to fight shortage
Moses Elhy met with the Indian ambassador to Egypt on Wednesday to discuss the potential swap agreement for 500,000 tons...Moses Elhy met with the Indian ambassador to Egypt on Wednesday to discuss the potential swap agreement for 500,000 tons of wheat
The Egyptian government has also in talks with the UAE, the US and western Europe in a bid to ease potential shortages
Govt says 200 Qatari nationals got jobs in private firms in May
The Labor Ministry has made a lot of efforts to ensure that Qatari nationals get employment in private sector companies...10 companies and institutions had cooperated with Labor Ministry to employ Qatari nationals in May
Since January 729 Qatari nationals have been employed in private sector companies and institutions
Jordan’s exports to US rise by six percent in first quarter
Jordan's trade balance with the United States registered a surplus of JD105 million ($147.85 million) in the first quarter of...Garments and textiles are key exports to the US market, followed by engineering industries, foodstuff, Dead Sea cosmetics, and jewellery.
The trade balance recorded a surplus of $147 million in Q1.
OIFL to pay GMTN interest
The Ooredoo subsidiary said it will pay $9.3 million on June 22.Ooredoo Group reported a revenue of QR 30 billion ($8.23 billion) for the full year ended 31 December 2021.
Group net profit attributable to shareholders stood at QR47m.
Jordan’s wholesale price index up 5.6 percent as fuel, mineral prices surge
Jordan’s wholesale price index in Q1 2022 increased by 5.66 percent, reaching 102.64 points against 97.14 during the same period...The wholesale price index in the first quarter of 2022 went up by 2.08 percent compared to the fourth quarter of 2021.
The boost in price of machine trade and their supplies by 5.33 percent or 0.49 points played a role in the index increase.
