Google CEO says more layoffs are likely this year
SAN FRANCISCO, US - Google CEO Sundar Pichai has warned employees that more layoffs are in store at the search engine...Business Tech & Media
dnata of UAE unveils new cargo center at Heathrow airport
dnata, Dubai-based air and travel services provider, has unveiled a new 10,500 sqm cargo center at London Heathrow airport.The new facility is part of the firm’s dnata City East complex, and will increase its capacity at Heathrow
It now operates 13 cargo centers at six airports in the country
Italy PM in Algeria seeking gas to reduce Russia reliance
Italian Prime Minister Mario Draghi arrived in gas powerhouse Algeria on Monday as Rome steps up efforts to reduce its...Italy buys the vast majority of its natural gas from overseas, with over 40 percent of those imports coming from Russia.
Rome is hoping its second-biggest supplier Algeria can boost output via an undersea pipeline in order to provide alternatives.
Empower pipeline grows 33.2 percent
The growth in Dubai cooling network occurred between 2018 and 2021.The new total length of the district cooling network in Dubai is 446 times the length of Burj Khalifa, the world's tallest building.
The network expansion in 2021 is attributed to the new projects added to Empower's portfolio, most notably the Marsa Al Arab, and the expansions of Dubai Healthcare City.
SIIG of Saudi Arabia to buy all shares of Petrochem
SIIG, also known as Saudi Industrial Investment Group, has obtained the approval to buy all shares of Petrochem.SIIG will now fully own Petrochem and as a result the latter will be suspended from trading on the Saudi Stock Exchange beginning Monday
The acquisition transpired as Saudi Arabian energy companies are restructuring their operations in response to a market that has lost some of its demand
Ericsson pulls out of Russia
Swedish firm said it was suspending its operations.The telecom giant already announced in late February that it would stop all deliveries to Russia following Moscow's February 24 invasion of Ukraine
The company added that it was "engaging with customers and partners regarding the indefinite suspension of the affected business"
Saudi Eastern Province launches 11 investment projects in Dammam
Saudi Arabia’s Eastern Province has launched 11 investment projects in Dammam metropolis. The Undersecretary for Investments and Revenue Development, Eng....The launch of these investment sites is part of the objective of 40 investment projects with an area of 3 million square meters.
The duration of investment projects is 25 years, subject to extension, according to Undersecretary for Investments and Revenue Development, Eng. Hamdan Al-Aradi.
UAE’s Al Habtoor slams bogus listicles
A leading magazine recently published Top 10 Richest Arab billionaires list and was criticized for ignoring many nationalities and known...Forbes Middle East recently published “Top 10 Richest Arab billionaires” list and was criticized for ignoring many nationalities and known wealthy businessmen
Egyptian billionaire businessman Nassif Sawiris with $7.7bn topped the Forbes Middle East list, followed by Algerian Yassaad Rabab and family at $5.1bn
Global stocks slide on Fed tightening and China prices
Asian stocks posted losses on Monday as unease lingered over tightening monetary policy by the Fed and rising prices in...The drop followed a negative lead from Wall Street
In Tokyo, the Nikkei closed 0.6 percent lower, while Hong Kong and Shanghai lost more than three percent and two percent respectively
Al Seer begins VLGC construction
Lucky Gas is the company's first Very Large Gas Carrier.Last year, Al Seer Marine formed a joint venture named ABGC DMCC with BGN International to build two new VLGCs.
Lucky Gas is expected to be completed and delivered by March 2023. The second VLGC, named North Gas, is expected to commence steel cutting in May 2022.
QIC, QInvest partner to form asset management company
The new company, jointly owned by QIC and QInvest, will be a Sharia'a compliant entity, regulated by Qatar Financial Centre...The new company, jointly owned by QIC and QInvest, will be a Sharia'a compliant entity, regulated by Qatar Financial Centre Regulatory Authority
Founded in 1964, QIC was the first domestic insurance company in Qatar. It is listed on the Qatar Stock Exchange
