Higher prices boost Coca-Cola sales despite Middle East hit
Chief Executive James Quincey described consumers in North America as "holding up well," although he acknowledged "a little softening" through...Business
EU excuses Apple and Microsoft products from tougher tech curbs
Brussels, Belgium - Apple's iMessage and Microsoft's Bing search engine got a reprieve from tougher EU rules curbing how tech titans...Business
Virgin Galactic re-opens ticket sales for $450,000
Previously, only people who had paid a deposit to be on a waiting list could buy new tickets -- but...The company is looking to build on the success of a test mission last July, which saw its founder Richard Branson beat Blue Origin founder Jeff Bezos in their space race.
In October it announced it was entering an "enhancement period" to make safety upgrades to its fleet, and pushed back a planned test flight with the Italian Air Force to this year.
Intel to acquire Tower Semiconductor
The acquisition for around $5.4bn part of Intel's IDM 2.0 strategy.As a key part of its IDM 2.0 strategy, Intel established Intel Foundry Services (IFS) in March 2021 to help meet the growing global demand.
Tower operates a geographically complementary foundry presence with facilities in the U.S. and Asia.
Trade between Brazil and Arab countries grew by 44 percent in 2021
Trade between Brazil and Arab countries grew by 44 percent during 2021, with food exports alone reaching an estimating $14...Food exports alone reached an estimating $14 billion, said Tamer Mansour, CEO of the Brazilian Chamber of Commerce.
January reports revealed that trading between Brazil and Arab countries could increase further, by 2 to 4 percent in 2022, he added.
Construction of $834m steel casting plant in Saudi to begin this year
A metal casting and forging plant will be built by South Korea’s Doosan Heavy Industries and Construction at the cost...The plant will be constructed at the King Salman Global Maritime Industries Complex by South Korea’s Doosan Heavy Industries.
The plant orders in Saudi Arabia and the Gulf Cooperation Council are expected to grow around 2 trillion won per year in 2028.
Amanat Holdings income leaps up
Amanat Holdings has posted a huge jump in its income for the year ended December 31, 2021 to AED367 million...Amanat has recommended the highest dividend payout to date of AED150 million, for which the Board of Directors will be seeking shareholders' approval
The company reported a record net profit of AED280.8 million, a twenty-eight fold increase from the AED10.1 million reported in FY-2020
Erdogan invites UAE business leaders to invest in Turkey
Turkish President Recep Tayyip Erdogan called on business leaders in the wealthy United Arab Emirates Tuesday to invest in his country,...Erdogan arrived in the UAE capital Abu Dhabi on Monday for a two-day visit to revive relations that were long strained by regional disputes
Turkey-UAE trade topped 26.4 billion dirhams ($7.2 billion) in the first half of 2021. The UAE hopes to double or triple trade volume with Turkey
Engie posts €4.2bn profit
It pointed to energy prices and good asset performance for the rise.The firm posted a net profit of €3.7 billion ($4.2 billion) after a loss of €1.5 billion in 2020
The emergence of the Covid-19 pandemic had roiled the global economy and energy prices
Investcorp acquires 64 industrial properties in US for US $640 million
The properties grow Investcorp’s US industrial real estate holdings to approximately $3.5 billion across approximately 32 million square feet comprised...The properties grow Investcorp’s US industrial real estate holdings to approximately $3.5 billion across 32 million square feet comprised of more than 425 buildings
The latest acquisitions provide Investcorp with Class B+/B industrial warehouses that are 95 percent leased
UAE F&B trade hit $20bn in first 9 months of 2021: Dubai Chamber
The rise was said to have been supported by growing demand and expanded efforts to enhance food security and diversify...Imports, at $12.8 billion, accounted for the largest share of the UAE’s F&B trade during January-September 2021
This was followed by exports at $4.1 billion and re-exports at $3.3 billion over the same period last year
Accountants drop Trump, say records can’t be relied upon
Mazars informed the Trump Organization in a letter last Wednesday that it would no longer work for the company.Mazars informed the Trump Organization in a letter last Wednesday that it would no longer work for the company
The accounting firm added that an investigation of its own and "information received from internal and external sources" had also played a part in it reaching that conclusion
