Deutsche Bank to slash 3,500 jobs
The bank said it would buy back shares and pay dividends.Company News Business
US stocks rebound from sell-off on Fed disappointment
New York, United States - Wall Street stocks rose early Thursday, rebounding from the prior session's pullback as markets awaited more...Business
US offshore wind power lease sale nets record $4.3B
The six sites are in an area called the New York Bight and total 488,000 acres (197,500 hectares), making it...The six sites are in an area called the New York Bight and total 488,000 acres (197,500 hectares), making it the biggest U.S. renewable power auction ever
Development of all six tracts could generate as much as seven gigawatts of wind energy, enough to power some two million homes, officials said
Russia penalizes Facebook
FB is accused of not stopping fact-checkers on its platform.Moscow's move comes days after Russia staged a large-scale invasion of neighboring Ukraine
It follows the government in recent years taking measures to limit online freedoms for Russians
Sanctions bore in on Russia over Ukraine invasion
On Friday, US President Joe Biden extended his country's measures against Russia to include sanctions on President Vladimir Putin and...The first tranche will hit four Russian banks, cut off more than half of Russia's technology imports, and target several oligarchs
Energy giant Gazprom and 12 other major companies will be barred from raising capital in Western financial markets
Innovations boost comfort level in hot Gulf cities
More than 400 cities are impacted by the urban heat island effect and increasing energy consumption that makes cities less...Cooling cities will save energy, enhance road durability and improve human health, says Abu Dhabi-based FortyGuard
The urban heat island effect increases energy consumption in more than 400 cities, adds the clean-tech startup
Dubai Maritime City launches $38 million infrastructure project
DP World’s purpose-built maritime hub, Dubai Maritime City (DMC), has launched an infrastructure project at a cost of AED140 million...The infrastructure project includes developing networks for deep sewage, stormwater, fire, irrigation, potable water, telecommunication, and roads.
The new infrastructure will integrate DMC with the Mina Rashid area that includes the QE2 Hotel, P&O Marinas and Marina Cubes.
DEWA electricity and water accounts rise by above 40 percent in 5 years
Dubai Electricity and Water Authority (DEWA) announced that the number of electricity accounts reached 1.06 million by the end of...The number of electricity accounts reached 1,061,476 by the end of 2021 compared to 752,505 at the end of 2016.
DEWA’s total capacity increased to 13,417MW of electricity, said Saeed Mohammed Al Tayer, MD & CEO of DEWA.
Egypt sets up $50m venture capital fund for startups
The World Bank and MSMEDA is eager to review and develop the needs of startups.The World Bank is supporting the operation of the program, aimed at tech-based startups
The fund was announced by Egypt's Minister of Trade and Industry, Nevine Gamea
Ras Al Khaimah provided $1.9m package to local businesses during pandemic
The Ras Al Khaimah Department of Economic Development (RAK-DED) offered AED 7 million ($1.9 million) in economic stimulus package to...The package was provided to support the local economy and ensure business continuity during the COVID-19 pandemic.
RAK said the package included licenses registered with RAK-DED and affected by the pandemic such as infrastructure projects and SMEs.
Federation of Saudi Chambers signs deal to host UN Global Compact
The Federation of Saudi Chambers of Commerce signed an agreement to host the local network of the United Nations Global...This pact affirms Federation's role in realizing the importance of corporate sustainability in implementing the programs and initiatives of Saudi Vision 2030.
It also covers the sustainable development goals of the UN through the Saudi private sector.
Dubai international pharma exhibition generates deals worth $1.38 bn
The 27th edition of the Dubai International Pharmaceutical & Technologies Conference and Exhibition (DUPHAT 2022) has generated direct and indirect...The largest of its kind in the region, DUPHAT 2022 was held at the Dubai World Trade Centre and featured the participation of a number of doctors and pharmacists.
The event attracted more than 22,000 visitors and participants from 82 countries and featured 140 speakers who shared their insights at 112 scientific sessions.
