Qatar to ramp up gas output with new mega field expansion
At the start of this month, Qatar said it would supply 7.5 million tonnes of LNG per year for 20 years...Business Energy
HSBC Q1 pretax profits down 30%
Higher-than-expected credit losses and inflation are to blame.Tuesday's results of London-based HSBC were published against the backdrop of Russia’s invasion of Ukraine
The bank said the war was exacerbating inflationary pressures and contributing to higher ECL charges
New trends drive Arab automotive growth
From pre-owned cars to electric vehicles, a number of trends are driving the growth of the automobile sector in countries...Saudi imports of cars grew from 544,000 in 2020 to over 546,000 in 2021
Around 28% of those polled in the UAE said they prefer to buy a used car online
Musk’s world and we just live in it
Buying Twitter is just the latest conquest for Musk, who has revolutionized the car industry, sent his own rocket to...Musk, 50, last year became the world's richest person taking the title from Amazon's Jeff Bezos
His new guise as a social media overlord will fuel controversy over his political views, business methods and outsized personality
Elon Musk reaches deal to buy Twitter for $44 bn
"Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to...The sale was a dramatic shift for the board, which had originally maneuvered to block Musk from taking the social media network private
Musk had taken a major stake in the firm earlier this month before lining up last week some $46.5 billion in financing to push forward with the purchase
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.
