Asian markets rally after Wall Street highs, oil prices slide
"The weakness of yesterday's US retail sales release have given market doves a new lease of life and allowed them...Business
Americana Restaurants posts profit.
The annual net profit in 2022 was US$470 million.Company News Business
Sanctions seek to cripple Russian economy as Ukraine invasion continues
The sanctions came as the Russian military stepped up its bloody, multi-pronged assault against Kyiv and other Ukrainian cities.The measures were backed by the United States, Canada, the European Commission, Britain, France, Germany and Italy
In a symbolic gesture likely to resonate in Moscow and the Kremlin, the stunning news was first delivered from Europe
GCC beauty sector puts best face forward
Consumers are spending more on beauty products and fragrances despite inflation, says Salem Kaissi, Vice-President of multi-brand luxury beauty concept...Brands have had to strategize and react quickly to continue resonating with consumers in the market
According to Euromonitor International, the sector is estimated to be worth $58.3 billion by 2025
Saudi Arabia and UAE drive real estate growth in the region
Saudi Arabia and the UAE are driving the real estate market in the Middle East region with the backing of...Kingdom’s residential real estate prices increased by 1.7 percent on an annual basis in the fourth quarter of 2021
Apartment values in Riyadh and Jeddah accelerated by 17 percent and 12 percent, respectively, in the last 12 months
Cryptocurrencies shine in shadow of Ukraine conflict
Having evacuated part of his team from Kyiv, Mike Chobanian, boss of cryptocurrency exchange Kuna, is watching the effects of..."Business is running, but we're in survival mode over here," the 37-year-old boss said during a video call from his current refuge after leaving the Ukraine capital
The Ukrainian government on Friday imposed sanctions against the rouble, forcing Chobanian to halt cryptocurrency swaps with the Russian currency
Arab world may suffer shortage of bread
Russia's invasion of Ukraine could mean less bread on the table in Egypt, Lebanon, Yemen and elsewhere in the Arab...The region is heavily dependent on wheat supplies from the two countries which are now at war
Bread is already a luxury for millions in Yemen, where a seven-year war has pushed the country to the brink of famine
DP World acquires 100% stake in Imperial
The acquisition is expected to also add significant strategic value to DP World given Imperial’s footprint and strong market access...The acquisition is expected to also add significant strategic value to DP World given Imperial’s footprint and strong market access and logistics solutions capability
DP World and its subsidiaries employ over 71,000 people across its worldwide operations
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
