G42 Cloud and Serbia to develop cloud computing solutions
G42 Cloud, a subsidiary of G42, the UAE-based AI and cloud computing company, and Serbia signed a Memorandum of Understanding...The new agreement will see both parties progress the joint development of Artificial Intelligence (AI) and cloud computing solutions across sectors
The signing ceremony took place at Expo 2020 Dubai at the Investment Conference held in conjunction with the Statehood Day of Serbia
PIF to bid for Starbucks stake
Owners of the Starbucks franchise value the business at $15 bn.Abu Dhabi’s ADQ and Mubadala Investment Co. also submitted separate non-binding offers to buy 30 percent stake.
Brookfield Asset Management Inc., CVC Capital Partners also have shown interest in buying the shares of Starbucks.
Dubai imports 8 million tons of food in 2021
Dubai has imported eight million tons of food during 2021 and re-exported 6.277 million shipments through all its ports, a...Dubai issued 78,812 food export health certificates, while the quantity of food exported last year amounted to 3.272 tons to 157 countries
The municipality said all types of food are registered electronically through a global system, a unique systems in controlling imported and locally produced foods in the emirate
Air travel momentum up as countries lift Covid restrictions: IATA
Air travel recovery was gaining momentum as countries were lifting restrictions, with a sharp 11-percentage-point increase for international tickets sold...There was an 11-percentage-point increase for international tickets sold in recent weeks.
The 11-percentage point improvement between the January and February periods is the fastest such increase for any two-week period since the crisis began.
ADNOC framework agreements declared
The $1.94 bn agreements have been awarded to four companies.The wireline logging and perforation services are the largest of such awards in the oil and gas industry.
The framework agreement awards cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further two years.
UAE Food and Beverages from Latin America reached $1.9 bn in 2020
The UAE’s food and beverage imports from Latin America reached $1.9 billion in 2020 as the Gulf country expanded its...Dubai Chamber of Commerce revealed UAE expanded its efforts to enhance food security.
The Chamber's analysis estimates the untapped potential of Latin American food and beverage exports to the UAE at $800 million.
Moody’s calls transfer of Aramco shares to PIF as credit positive
Moody's has termed the share transfer of Saudi Arabia’s Aramco to the Public Investment Fund as credit positive as it...The transaction, which saw Aramco transferring a 4 percent stake to PIF, will also improve the fund’s sector diversification, and will add an asset that regularly pays dividends
PIF’s assets will increase by SR296.4 billion ($79 billion) following the transfer, or 20 percent higher than in 2020
Airbus posts net profit of $4.8bn in 2021, after two years of losses
European aircraft giant Airbus posted record profits in 2021 after two years of losses as it cruises past the pandemic-induced...Net profit surged to 4.2 billion euros ($4.8 billion) with deliveries of aircraft rising eight percent to 611 planes, Airbus said in an earnings statement
The company is targeting 720 commercial aircraft deliveries in 2022, an 18 percent increase
Jordan’s 26 companies to take part in Baghdad intel Fair
Jordan's minister praised the Ministry of Communications for its achievements in the communications and information technology sector.Jordan's minister praised the Ministry of Communications for its achievements in the communications and information technology sector.
Jordanian Ministry and the joint companies will hold a series of meetings in order to discuss cooperation
Saudi Arabia elected as Head of ICAO’s Regional Aviation Safety Group for Middle East
The election took place during the ninth session of the group’s meetings hosted in Riyadh from 14-17 February 2022.The election took place during the ninth session of the group’s meetings hosted in Riyadh from 14-17 February 2022
The RASG-MID aims to develop an integrated data-driven strategy and implement a work program that supports a regional safety management performance framework
Ozempic maker lowers outlook
The company posted tepid Q3 results.
Kimberly-Clark to buy Kenvue
The deal is valued at $48.7 billion.
BYD Q3 profit down 33%
This was a 33% year-on-year decrease.
Alphabet posts first $100 bn quarter
The growth was powered by cloud division buoyed by AI
Nvidia to take stake in Nokia
Nvidia share price soars 20%.
