Microsoft becomes world’s largest company
The tech giant's market value has surged by over $1 trillion.Business
Stock markets: Germany drags Europe down, Tokyo rises again
In Asia, Tokyo rose for a sixth successive day to build on last week's advances, which saw the Nikkei break...Business
Startups in UAE capitalize on corporate reforms
New corporate laws and business-friendly policies give start-ups an upper hand in the UAE as they are predominantly created and...Corporate reforms will make more people try entrepreneurship in the UAE, say businesspersons
The UAE recognizes that high levels of technical skills proficiency are essential to thrive in the digital economy
Al-Dawaa starts trading on TASI
The pharmacy chain operator collected $500 million from shares buyers.The operator of one of Saudi largest pharmacy chains, Al-Dawaa offered 25.5 million shares in an initial public offering, representing 30 percent of capital.
Al-Dawaa operates a network of pharmacies with over 800 outlets across 130 cities in Saudi Arabia. It posted a revenue of about 5 bn riyals ($1.3 bn) and profit of 246m
India Paytm shares crash on news of regulatory ban, CEO arrest
Paytm shares nosedived 13 percent Monday after Indian regulators banned the beleaguered payments platform from enrolling new customers and reports...The firm enjoyed India's biggest-ever initial public offering four months ago, with the backing of Chinese tycoon Jack Ma's Ant Group and Warren Buffett's Berkshire Hathaway
India's central bank demanded Paytm immediately stop enrolling new customers on Friday and ordered an audit of its IT systems
Instagram no longer accessible in Russia
The move comes after Facebook and Twitter were blocked in early March as part of sweeping efforts by Moscow to...The move comes after Facebook and Twitter were blocked in early March as part of sweeping efforts by Moscow to control information available to Russians
Instagram appeared Monday on a list of "restricted" online resources on a list published by Russia's media regulator Roskomnadzor
Muscat raises foreign ownership in joint stock companies to 100%
The decision to raise the percentage of foreign investment in public companies is one of the most important steps to...The decision to raise the percentage of foreign investment in public companies is one of the most important steps to include the market in global emerging market indices
Oman plans to list 35 state-owned companies in the next five years, with a focus on listing one or two firms from the oil sector during the current year
Jordan’s trade deficit with EU expands 12.9% to $3.77bn
Jordan’s trade balance deficit with the European Union countries expanded by 12.9% in 2021 compared to 2020.Total trade deficit reached about JD2.671 billion ($3.77 billion) in 2021
The value of national exports to EU countries increased by 29.9 per cent during 2021
Bahrain and the Netherlands discuss ways to boost ties
Bahrain and the Netherlands discussed ways to strengthen cooperation and boost the youth sector in both countries through exchange of...Both sides lauded the distinguished relations between Bahrain and the Netherlands in all fields
They also highlighted the major initiatives and programs launched to support the youth sector
UK PM may visit Saudi Arabia to lobby for uptick in oil output
Britain on Sunday defended lobbying Saudi Arabia to up its oil output as energy sanctions on Russia hit Western consumers,...Senior cabinet minister Michael Gove did not deny a report in The Times on Saturday that Prime Minister Boris Johnson is set to visit Riyadh this week
The newspaper said Johnson will lobby Saudi Crown Prince Mohammed bin Salman to help offset the impact of the Ukraine-linked sanctions
Tibbiyah posts 14% drop in profit
Arabian International Healthcare Holding Co., also known as Tibbiyah, has posted a fourteen percent drop in net profit to $21...Despite the fall in profitability, the company's board proposed the distribution of SR3 per share in dividends for 2021
The company said the drop in profit was caused by a decline in sales
SAMI of Saudi Arabia to hire more women to support diversity
Saudi Arabian Military Industries (SAMI) will hire more staff and most of them will be women in order to support...Unit last year, SAMI had about 2,500 employees, with 82 percent Saudization and females representing 22 percent of the workforce
At the end of 2021, SAMI was among the top 85 defense companies in the world
