EU adopts fallow land exemption after farmer protests
Brussels, Belgium - The European Commission on Tuesday officially extended an exemption from contested rules to leave a share of agricultural...Business
Energy transition led Saudi Arabia to halt oil expansion, says official
RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to...Business Economy Geostrategy Global
CBD net profit $394
The bank's assets reach a record AED114 billion: CEOThe CEO attributed the net profit to improved net interest income, stable non-funded income and lower expected credit losses.
Operating income for the full year of 2021 amounted to AED3.18 billion, an increase of 6.9 percent, attributable to higher Net Interest Income.
JBA head, Tunisian envoy discuss enhancing joint economic cooperation
According to a JBA statement it has helped promote joint investments and increase the volume of Jordan-Tunisia trade exchange.According to a JBA statement it has helped promote joint investments and increase the volume of Jordan-Tunisia trade exchange
The two sides discussed joint cooperation in the sectors of garment, textiles, banking, contracting, traditional industries, transport, shipping, and pharmaceutical industries.
Disney+ shines amid streaming TV competition
Disney saw streaming subscriptions pick up pace as pandemic restrictions ease, while Netflix saw them slow.Disney+ saw its big studio muscle help it reach 129.8 million subscribers worldwide, some 5 million more than predicted
Netflix ended the year with 221.8 million subscribers, a massive number, but it announced slowing growth
L’Oreal sales, profits surge
Sales rose by 15.3% from last year to $36.9 bn.Sales rose by 15.3 percent from last year to 32.3 billion euros ($36.9 billion), marginally above the analyst consensus figures compiled by Bloomberg and Factset
net profits hit 4.6 billion euros, up by more than a quarter from 3.6 billion in 2020 and 3.75 billion in 2019
Microsoft vows app store fairness
The company is courting favor of antitrust regulatorsMicrosoft president Brad Smith laid out a set of "Open App Store Principles" that will apply to the store it runs for Windows-powered computers
Microsoft's $69 billion deal to buy video game powerhouse Activision Blizzard needs to pass muster with regulators in Europe and the United States
Growing cyber threat demands a united response
A 2021 report by McAfee estimates the monetary loss from cybercrime globally to be approximately $945 billion. When you add...The dollar cost to organizations of all types due to cyber threat is staggering. It is estimated that the average cost of remediation in 2021 was $517,961 in the UAE
The monetary loss from cybercrimes globally is put at $945 billion. When you add to this the global cost of cybersecurity products, it touches $1trn annually
Dubai plans to attract 50 multi-national companies under a three-year strategy
Dubai plans to attract 50 multinational companies within three years and push the external expansion of 100 companies from Dubai...Drawn by Dubai International Chambers, the strategy will also push the the external expansion of 100 companies from Dubai to priority foreign markets.
It will also support and motivate multinational companies to list on the Dubai Financial Market.
Dubai Islamic Bank issues $750m five-year sukuk
Dubai Islamic Bank has successfully priced its $750 million five-year senior sukuk, taking advantage of global interest in Islamic bonds....The debt sale, a first in the UAE this year, attracted huge investor interest and was more than 2.5 times oversubscribed
The bonds were priced at 95 basis points with a profit rate of 2.74 percent
SAN Group to invest in RAKEZ
The firm will construct a sustainable hydrogen production unit in the zone.This biotech facility will consist of a research center, laboratory, desalination plant, greenhouse as well as hydroponic and aquaponic indoor systems.
The project will be constructed with an investment of $3.2 million and will be operational at the end of 2022.
Covid lockdown in China makes aluminum costlier
The Covid lockdown this week of a relatively unknown Chinese city sent global prices of aluminum rocketing to a 14-year...Located near the border with Vietnam, Baise is nicknamed the "aluminum capital of southern China"
It produces about 2.2 million tonnes of the commodity per year -- more than 80 percent of the output in the resource-rich Guangxi region
