Borouge signs supply agreement
The two-year agreement is worth AED 160 million ($43.56 million).Company News Business
The proverb-ial road to success
After all, what is considered traditional wisdom — and therefore infallible — has at times been known to run counter...Owners of today’s large enterprises are advised to resist the temptation to personally manage the daily affairs of businesses
Instead, they should hire the most talented professionals and delegate to them the authorities needed for that purpose
Lockheed Martin nets NASA deal
The company will make a rocket to bring back rocks from Mars.According to the US space agency's statement, Lockheed Martin has won a NASA contract to build the rocket which will bring the first Mars rock samples to Earth in the 2030s
NASA will launch a plan in 2026 to send the mini-rocket to Mars, carrying another rover responsible for collecting the rock samples
EU joins chips race with 42 bn euro bid to rival Asia
The production of semiconductors, also known as chips, has become a strategic priority in Europe as well as the United...The production of semiconductors, also known as chips, has become a strategic priority in Europe as well as the United States, after the pandemic choked off supply
The manufacturing of chips overwhelmingly takes place in Taiwan, China and South Korea and the European Union's 27 member states
Industries Qatar profit up 321%
The company achieved a net profit of QR 8.1 billion for 2021.Industries Qatar said in a statement that the Group revenue significantly improved by 77 percent to reach a record QR 20.2 billion
Earnings per share (EPS) amounted to QR 1.34 for the year, versus QR 0.32 for last year
‘Jail restaurant’ in Iran frees bad-debt inmates
Two Iranian ex-prisoners have opened a ‘jail restaurant’ to help raise funds to free convicts who are behind bars for...In Iran, bounced cheques, or failure to pay agreed dowries or bank loans results in jail time until the money is repaid
More than 11,000 Iranians are in jail for failing to repay debts: almost 5 percent of Iran's prison population
Wynn Resorts-RAK deal raises a few eyebrows
Legal experts weigh in on what lies ahead for the UAE when it comes to gaming entertainment in various forms.The announcement comes after rumors circulated about legalizing gambling clubs and permitting casinos in the UAE
Gambling is prohibited in Chapter VI of the UAE Federal Penal Code, with those found guilty facing imprisonment and hefty fines
MENA Transport Congress Exhibition kicks off in Dubai
The fourth edition of the MENA Transport Congress & Exhibition began on Monday in Dubai.The three-day event is organized by Dubai’s Roads and Transport Authority, and includes 13 sessions, five of which are main sessions
The sessions will discuss the smart transport service, eco-friendly electric buses, artificial intelligence and big data, first and last-mile trips
CBD signs a debt financing deal with Postpay
Commercial Bank of Dubai (CBD) has approved a debt financing deal with Postpay, a leading omni-channel Buy Now, Pay Later...The strategic partnership with CBD will provide support to Postpay on several fronts including Transaction Banking
The continued support from CBD will also enable Postpay’s planned expansion in the UAE, KSA, and other GCC countries
WIPO and Qatar sign pact to promote Intellectual Property education
The World Intellectual Property Organization (WIPO) in collaboration with Hamad Bin Khalifa University (HBKU) will now promote education in intellectual...The World Intellectual Property Organization and Hamad Bin Khalifa University will collaborate for IP law teaching.
The WIPO will provide expertise under the terms of the agreement.
Dubai imposes tariff on single-use plastic bags to limit their use
Dubai has approved a policy to limit single-use plastic bags by imposing a tariff of 25 fils on such bags...The policy will be evaluated over several stages until the single-use bags are completely banned within two years.
The emirate will charge a tariff of 25 fils per bag from 1 July 2022.
