Saudi Crown Prince announces new company to boost Kingdom’s global tech status
Riyadh, Saudi Arabia — Saudi Crown Prince Mohammed bin Salman on Thursday launched a new company called Alat geared to...Business
Number of millionaires in BRICS likely to rise by 85 percent in 10 years, says report
DUBAI, UAE - The total investable wealth currently held in the BRICS bloc amounts to US$45 trillion and its millionaire...Business Economy
Saudi Arabia overall export rose 62.6% y-o-y in December
GASTAT data said the value of exports amounted to SAR106.3 billion ($28.35 billion) in December 2021.The total value of exports amounted to SAR106.3 billion ($28.35 billion) in December 2021
This was up from the SAR65.3 billion ($17.41 billion) that Saudi Arabia had in December 2020
UAE Defense Ministry signs deals worth $544m at UMEX & SimTEX
Deals worth more than AED2 billion ($544 million) were made by UAE’s Ministry of Defense during the fifth edition of...This was the largest edition of this event in terms of exhibition area and exhibitors, with 134 exhibitors from 26 countries from around the world.
The Ministry of Defense’s deals on the third and final day of UMEX & SimTEX 2022 included deals with local companies valued at AED 51 million.
Mercedes-Benz posts strong results
Mercedes saw the key measure rise 19.2 bn euros.Mercedes, which changed its name from Daimler at the beginning of the month, saw the key measure rise $21.6 bn
The group's net profit increased almost six-fold to 23.4 billion euros from four billion euros in 2020
Aluminum price hits record high on Ukraine Attack
Aluminum has beaten the previous peak in price hike of $3,380.15, reached in July 2008.The lightweight metal price has been increased as high as $3,382.50 per tone
Analyst Daniel Briesemann said that the rise in price of the metal was expected
Russian central bank to intervene as ruble, Moscow exchange plummet
The ruble-dominated Moex index opened down 13.97 percent, while the dollar-dominated RTS was down 20.16 percent.The central bank measures are intended to provide ‘additional liquidity to the banking sector’ in Russia
This, as Western sanctions loom after the military operation announced by Vladimir Putin against Ukraine
Russia attack on Ukraine turns Europe eyes to Saudi Arabia, Qatar
Qatar and Saudi Arabia host American troops, but their economic and political relations with Russia have grown over the years.Russian gas accounts for about 40 percent of the European market, leaving it highly exposed to supply disruptions due to the conflict
A similar logic applies to the 2.3 million barrels of Russian crude that heads west each day through a network of pipelines
Meta lays out moves being made to build the metaverse
The metaverse is a 3D virtual world where people will be able to interact using sensors, head gear and other...The metaverse is a 3D virtual world where people will be able to interact using sensors, head gear and other gadgets
Formidable rivals such as Apple, Google and Microsoft seem poised to compete with Meta on the new virtual terrain
Petrobras 2021 profit hits $20bn
Debt dropped to $47.62 billion in 2021 from $63.17 billion in 2020.Net profit for the final quarter last year came in at $5.64 billion, bringing 2021's total to $19.88 billion
Petrobras said this was a stark contrast to 2020's total of just over $1 billion due to effects of the pandemic
Oil price break $100 on Russian ‘military operation’ in Ukraine
According to the UN, a full-scale Russian invasion on Ukraine would have a devastating global impact that would likely spark...The crisis comes as governments struggle to contain runaway inflation fueled by demand as life returns after recent Covid-19 lockdowns,
World Markets have been hammered since a week as the Kremlin recognized Ukraine's rebellion and said it would provide "peacekeepers" to the regions
GCC turbulence mires Airbus rise
Airbus has been mired in controversy despite its best efforts to increase its customer base, across the world in general...Qatar Airways and Airbus have tussled for months over the deterioration of aircraft paint and lightning protection
Kuwait plans to announce an agreement to restructure the national airline fleet of Airbus aircraft
