Crypto market sees drop in scams, stolen funds
The cryptocurrency sector recorded a promising recovery in 2023, with a significant decline in crypto scams and stolen funds revenue,...Business
15 million tons of Lithium deposits found in Thailand
Bangkok, Thailand - Thailand has discovered nearly 15 million tons of lithium deposits, a government spokesman said Friday, a boost for...Business
GM plans electric Corvette
Traditional carmakers are in a race to make more electric vehicles.GM has set a goal of overtaking Tesla in terms of sales of electric vehicles
To achieve that, it plans to invest $35 billion in electric and autonomous vehicles by 2025
Export credit companies of UAE and Indonesia sign pact to boost trade
Etihad Credit Insurance (ECI), the UAE Federal export credit company, and its Indonesian counterpart PT Reasuransi Indonesia Utama (Persero) or...The two agencies also agreed to expand their collaborative initiatives across the globe by fostering sustainable and inclusive economic development and corporation.
Etihad and Persero will help domestic companies of the respective countries grow overseas by making it easier for these companies to access liquidity.
Dubai allots some 18,000 e-trader licenses in five years
Dubai has allotted some 18,013 e-trader licenses during the last five years, according to a government report.Of the total licenses issued, 13,671 are professional, while 4,342 are commercial licenses
In Dubai, an e-trader license allows freelancers and startups to conduct business activities online and across social networking accounts
Iftar lightens the pocket in GCC
Here’s a look at how the price of an Iftar meal compares to a standard meal eaten in moths other...Ramadan a month of communal joy, when people gather after dusk and before dawn to partake in feasts that would help them tide over daylong fasts
However, there seems to be a disparity between how much a full Iftar meal costs versus how much a normal meal costs outside the month of Ramadan
UAE and Egypt to boost investment and cooperation
UAE’s Minister of Industry and Advanced Technology Sultan bin Ahmed Al Jaber reviewed bilateral relations with Mostafa Madbouly, Prime Minister...This includes traditional and renewable energy, advanced industries, infrastructure, tourism, agriculture
The two discussed on wind and solar energy, and finding opportunities for sustainable joint investments
Twitter shares rise on reports it will accept Musk takeover bid
The deal, which media outlets including The Wall Street Journal reported could be announced later in the day, would put...About 20 minutes into trading, Twitter shares were up 3.6 pc amid an otherwise downbeat day in New York, where the Dow, Nasdaq and S&P 500 were all in the red by under one percent.
Musk had earlier this month launched his $43 billion hostile takeover bid for the company, casting it as a promotion of freedom of speech.
DEWA aims to earn $2bn profit next year, not to sell more stock
DEWA has no intention to sell more stock, after having raised $6.1 billion in a record initial public offering, the...It is also eyeing 7.4 billion dirhams ($2 billion) in 2023 profit, amid a prospective IPO of its district cooling unit by the end of this year
DEWA is seeking to spend 40 billion dirhams to expand over the next five years, with more focus on renewable energy
El Khalifa to launch West Cairo projects
West Cairo has witnessed strong real estate development.He said the two projects are likely to be launched in May, coinciding with the beginning of the summer season, which represents the peak of real estate market activity.
Both projects are located in the Green Belt in Sheikh Zayed city, where there is a strong volume of development, reconstruction and a demand from clients.
Emirates Global Aluminum agrees credit facility tied to Term SOFR
Emirates Global Aluminum today announced the company has agreed a revolving credit facility tied to the Term Secured Overnight Funding...SOFR is the emerging replacement to the US dollar London Interbank Offering Rate (LIBOR), which has been the global lending benchmark for decades.
SOFR provides a benchmark interest rate based on data from observable transactions, while LIBOR relied on disclosures from a panel of selected banks.
Rate hike fears and China lockdown drag down stocks
Stock markets sank Monday on growing concerns that lockdowns in China aimed at fighting a worsening Covid outbreak could threaten...China's struggle to get a grip on a Covid outbreak that has forced Shanghai -- the country's biggest city -- into lockdown and dealing a blow to demand
All three main indexes on Wall Street ended more than two percent down Friday, and Asia followed suit with hefty losses
