Global air travel reaches 99% of 2019 levels: IATA
IATA’s Director-General Willie Walsh said that international travel is 5.5% below pre-pandemic levels, but that gap is narrowing fast. "And...Business
Five new residency programs to attract talent to Saudi Arabia
These residency products offer several benefits, including the ability to conduct business and invest in Saudi Arabia, own real estate,...Business Economy
Mubadala, Trafigura complete mining sale
They have sold 100 percent of Spanish operation MATSA to Sandfire Resources.MATSA owns and operates two mines in the municipality of Almonaster La Real and one mine in the province of Huelva, Andalucia.
The company’s processing plant can process more than 4.4 million tons of copper and polymetallic ore per year.
Rivals Turkey and Armenia to resume commercial flights
Historic rivals Turkey and Armenia were due Wednesday to resume their first commercial flights in two years as part of...Armenia and Turkey have no diplomatic relations, a closed land border and a long history of hostility rooted in the mass killing of Armenians
The first flight run by Moldova's low-cost carrier FlyOne was expected to land on Wednesday evening at Istanbul Airport from Yerevan
Saudi Arabia clocks high growth in ‘contactless’ payment
Saudi Arabia has witnessed a big jump in 'contactless' payment during the last three years, from hovering in single digits...Looking at Saudi Arabia’s workforce, Torre said that the large number of foreign workers in the Kingdom should provide ample opportunities for Visa in terms of offshore remittances
Torre indicated that his company offers a Visa Direct solution which allows people to send money to any of their 3.7 billion cards or directly to bank accounts in 88 countries
Aramco officially launches $1 billion Venture Capital fund Prosperity7 Ventures
Saudi Aramco has officially launched Prosperity7 Ventures, a $1 billion Venture Capital fund. The fund has been operational for over...The fund has been operational for over a year but was launched officially on Tuesday.
The fund aimed at supporting the development of next-generation technologies and business models.
CBUAE to start new terms for credit and liquidity facilities
The Central Bank of the UAE will introduce a new set of terms and conditions for its standing credit and...The new terms and conditions define the discretionary powers related to the activation of these facilities and the guidelines for collateral management
In addition, the CBUAE may activate the Contingent Liquidity Insurance Facility in response to any actual or prospective stress of an exceptional nature
‘Necessary evil’: Some artists say can’t quit Spotify
The opportunity for less well-known artists to reach a large audience and potentially get paid for streams of their music...The opportunity for less well-known artists to reach a large audience and potentially get paid for streams of their music means they feel obligated to stick with Spotify
"For me, Spotify is kind of a necessary evil," said Leo Sidran, musician and host of the podcast "The Third Story."
GM sees strong demand in 2022
In Q4 2021, GM saw global car sales sinkProfits fell in the final quarter of 2021 as GM saw global car sales sink but the US automaker still managed to notch a record $10 billion in annual profits
GM signaled it expects comparable profits in 2022 in spite of cost pressures in commodities, freight services and labor
Technology changes worker-firm relationship
Technology is allowing firms to shift an increasing share of work outside of their traditional boundaries, reducing costs and improving...Together, the rise of work-from-home and the gig economy have loosened the boundaries of the firm, making the ideas of a workplace and a worker more fluid
Today, technological advances and the emergence of new digital platforms are allowing firms to shift an increasing share of work outside of their traditional boundaries
Why do Arabs pitch for European football clubs?
For several years, there has been a rush of investments from GCC countries into European sports. TRENDS explores the reasons...Saudi Arabia's Public Investment Fund recently bought Newcastle United for $418 million
Abu Dhabi’s Sheikh Mansour had picked up Manchester City in 2008
Sanad picks new CEO
Sanad, a subsidiary of Mubadala Investment Company, has appointed Mansoor Janahi as the new Group CEO.The appointment is a part of Sanad’s new plan to expand its business beyond the aerospace sector
The strategy and leadership announcements follow the launch of "Operation AED300bn" last year
