Alcoa to buy Alumina in all-stock deal
The US aluminum producer will buy Alumina for US$2.2bn.Business
WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...Business Economy Geostrategy Global
Finland firm scraps nuclear plant deal with Russia
Finnish-led consortium Fennovoima said on Monday it has terminated a contract with Russian group Rosatom to build Finland's third nuclear...The proposed 1,200-megawatt Russian-designed reactor was to be built in Pyhajoki, about 100 kilometres (60 miles) from the port of Oulu in northern Finland
Two days before Russia's invasion of Ukraine, the Finnish government had said it was re-evaluating the security risks for the 7.5-billion-euro deal
Kuwait rebuilding five commercial license centers across country
Kuwait’s Ministry of Public Works has announced it will be re-building five commercial centers across the country. Local media reports,...Hawally Center, Khaitan Center, Mansouriya Center, Al-Dhahr Center and Al Ayoun Center are spread across different governorates.
Each building consists of a basement, a ground floor, first and second floors, and the roof.
Stock markets slide all across as Fed rate hike looms
Asian and European markets fell in holiday-thinned trade Monday following another tech-led rout on Wall Street, with focus on the...Trading floors around the world have been buffeted for months by a perfect storm of crises including China's lockdowns, surging inflation, Fed plans to hike rates
However, with some commentators warning rates could go as high as three percent, there are also worries the Fed could be too heavy-handed and tip the US economy into recession
Eid holidays boost Gulf tourism as COVID curbs ease
From overseas to the domestic circuit, the tourism industry in the Gulf Cooperation Council is witnessing a welcome resurgence, especially...Gulf citizens are looking to spend Eid al-Fitr abroad after being compelled to stay home for the past two years
This year’s Eid al-Fitr holiday witnessed high occupancy in the UAE hotel sector, driven by strong domestic tourism demand
Qantas to launch longest non-stop passenger flight
Qantas announced on Monday it will launch the world's longest non-stop commercial flight, with passengers set to spend 19 hours...Non-stop flights will start from Sydney by the end of 2025, it said, with long-haul trips later planned to include Melbourne
Qantas has announced ordering 12 Airbus A350-1000 aircraft to operate the "Project Sunrise" flights to cities including London and New York
EDB reaffirms its commitment to financial inclusion in the UAE
The Emirates Development Bank (EDB) has restated its commitment to financial inclusion in the UAE with a range of financial...EDB has reaffirmed that it is able to empower SMEs through direct or indirect financing, including a credit guarantee program
It has launched new services that support financial inclusion, including its digital solution for SMEs and start-ups, which resulted in more than 1,000 new accounts being created
NBA, NFL stars invest in Indian cricket franchise
US basketball star Chris Paul and American football players Larry Fitzgerald and Kelvin Beachum have invested in Indian Premier League...The three US athletes will be minority investors in the Royals, who won the inaugural edition of the Twenty20 tournament in 2008
The IPL has grown to be the most popular franchise-format league for Twenty20, the shortest form of cricket
Arab Bank Group Q1 net income $166m
The net income increased by 29.4 percent compared to $128.3m for Q1 2021.The Group loan portfolio grew by 5 percent to reach $35.2 billion as of March 31, 2022 compared to $33.5 billion for Q1 2021.
Customer deposits grew by 3 percent to reach $47.3 billion compared to $45.8 billion for the same period last year.
Physical security adds to digital transformation
Cybercrime has risen to the forefront of physical security concerns. And big firms are acutely aware of the problem, says...Physical security has progressed from when it was viewed as merely a technique for responding to crime
It now plays a more significant role as a critical component in the digital transformation of business processes
CBUAE puts into circulation new AED5 and AED10 banknotes
The Central Bank of the UAE (CBUAE) has announced that the new AED5 and AED10 banknotes have entered circulation in...The CBUAE in collaboration with the UAE Banks Federation (UBF) has provided the new AED5, AED10 and AED50 notes
The new denominations have been replenished to dedicated ATMs from participating banks across the country
