Estithmar sets up issuance program
The Group said the program is valued at $933 million.Company News Business
Macy’s rejects $5.8bn takeover deal
The company also owns the Bloomingdale's store chain.Company News Business
Italy to scale down its dependence on Russian gas
Italy is ethically obliged to stop buying Russian gas "soon" as the payments are funding the Ukraine war, the country's..."We are diversifying our sources with great speed," he said
Cingolani predicted the country would no longer need Russian gas within 18 months
UAE and South Korea sign agreement to boost ties
The UAE and South Korea have signed an agreement to boost ties between the two countries to develop entrepreneurship and...Under the terms of the MoU, the two parties will jointly design flexible partnership program during the next phase
They will also cooperate in exchanging knowledge regarding the development of program, policies and legislation related to the entrepreneurship sector in the two countries
UAE government holiday for Eid al-Fitr begins on 29th day of Ramadan
The holiday will last till the third day of the month of Shawwal, which is yet to be declared.The holidays will begin on Tuesday, the 29th day of Ramadan
That date corresponds to April 30 on the Gregorian calendar
Red Sea Development Company to use biofuel for all tourist facilities
The company has chosen MAN Energy Solutions to provide 25 sets of biofuel generators for the sustainable tourism destination.The Red Sea destination will apparently use solar energy stations that include storage batteries with the system of MAN GenSets
These generators will reportedly have engines that will let them use the climate-neutral B100 biofuel
Oil prices up as traders weigh demand and supply issues
Oil began inching upward on Thursday after a day of losses over demand concerns linked to the Covid-19 lockdown in...The United States has said it will release a substantial portion of its oil reserves to cushion the shortfall
"Oil is still trading mixed after Tuesday's sharp pullback but is opening in Asia near the midpoint of yesterday's trading range," Stephen Innes of SPI Asset Management said
Twitter and analysts are wary of takeover bid by Elon Musk
Earlier this month, Elon Musk made an unsolicited bid of $43 million for Twitter, citing better freedom of speech as...Moody's estimated it would cost Musk $39 billion to buy all the outstanding shares of Twitter
That would give Twitter ‘a strong chance’ to repay or refinance its billions of dollars of existing debt
Tesla reports record profits
Tesla shares rose 5% to $1,026.99 in after-hours trading.Elon Musk's high-flying electric vehicle company notched a new record in quarterly profits of $3.3 billion
This follows the unveiling of factories in Germany and the US state of Texas that have begun commercial deliveries
UAE’s hospitality sector delivers strong results in Q1 2022
The uplift in overall performance was primarily driven by beachfront and luxury developments.The uplift in overall performance was primarily driven by beachfront and luxury developments
The office market continued to perform well as rents in well-managed quality buildings rose
Sweden opens criminal probe into Ericsson Iraq graft
Senior Public Prosecutor Leif Gorts confirmed that the investigation had been launched following reports of potential corruption between 2011 and...Senior Public Prosecutor Leif Gorts confirmed that the investigation had been launched following reports of potential corruption between 2011 and 2019
Ericsson has already agreed to pay $1 billion in penalties to US authorities to close corruption cases in Djibouti, China, Vietnam, Indonesia and Kuwait in 2019
BNPL gains currency in the UAE
It also seems to be extremely helpful for customers who want to pay for a purchase in installments or make...BNPL payments in the UAE are expected to grow 89.4% on an annual basis to reach $1.82 billion in 2022
BNPL is not just for Gen Y and millennials; it is expected to see adoption by elderly individuals as well
