China edges out Japan as world’s top vehicle exporter
In recent years, China's auto sector has grown remarkably largely because of massive investments in electric cars, an area where...Business
Norway’s sovereign wealth fund posts record US$213bn profit
Oslo, Norway - Norway's sovereign wealth fund, the world's biggest, said Tuesday it raked in a record profit of 2.2 trillion...Business Economy Global
UAE and Singapore explore ways to boost trade
The UAE and Singapore will explore ways to enhance bilateral relations in light of the agreement signed between the two...The ideas to boost ties were discussed in a meeting between Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai and Teo Chee Hean, Singapore’s Senior Minister
They also discussed various issues of mutual interest including global efforts to speed up recovery to reach pre-pandemic levels
Deliveroo’s new UAE service
Deliveroo Plus allows customers to receive unlimited free delivery.Deliveroo Plus allows customers to receive unlimited free delivery on all orders above AED 30 for only AED 39 per month
Deliveroo Plus allows customers to receive unlimited free delivery on all orders above AED 30 for only AED 39 per month etc
Qatar Airways counters Airbus order cancellation with A350 video
The move came within mere hours of Airbus cancelling an order of 50 of its A321neo aircraft, which it was...The order was estimated to be worth $6 billion based on Airbus’ catalog price
However, but airlines are known to get better deals from plane-makers
TASI rises for 10th session, UAE bourses fluctuate
The surge in oil prices fueled the start of the week's high for the Saudi stock market, while the UAE...First Abu Dhabi Bank's share price rose by 3.9 percent to support the 1.6 percent advance in the Abu Dhabi index
With Al-Rajhi Bank up 1.5 percent and SABIC's share up 1.8 percent, the Saudi index rose 0.5 percent on Wednesday
Points of Sale terminals in Saudi exceed 1 million, says SAMA
The Saudi Central Bank (SAMA) announced that the number of Points of Sale (PoS) terminals inside the kingdom have exceeded...These terminals can be found at commercial sales outlets in more than 180 cities and villages.
PoS terminal transactions reaching more than 5 billion by the end of 2021, compared to 2.8 billion transactions in 2020.
Lebanon to sign a deal with Jordan to ease power shortage
Crisis-hit Lebanon will sign a deal with Jordan next week to bring in electricity via Syria to help ease grueling...The agreement is part of a wider government effort to eventually provide state electricity for eight to 10 hours a day
The deal will provide Lebanon with up to 250 megawatts of electricity during the day and 150 megawatts at night
S&P warns of fewer sukuk issues during 2022
Sukuk issuance volumes will not grow significantly in 2022 as global interest rates rise and funding needs for Gulf economies...Central bank interest rates tend to respond to moves from the US Federal Reserve, particularly those in the Gulf where currencies are pegged to the dollar
While sukuk issuance is likely to be subdued this year, the market is likely to grow in the long run
Intel to build two chip factories
The company will invest $20 bn, hire 3,000 new workers for the sites in Ohio.Construction of the plants is scheduled to begin at the end of the year. Chip production could start as early as 2025.
Recent problems in global supply chains have highlighted the fundamental importance of semiconductors, which are used in a growing number of products including cars, TVs.
Emirates partners with the Bahamas to boost tourism
Emirates has signed a partnership agreement with the Bahamas to explore joint initiatives to bring more tourism to the island...The Bahamas is one of the most sought-after tourism destinations in the Caribbean offering a rich mix of leisure and cultural activities for visitors
the airline is also making available to customers and its travel retail partners across its markets, a range of travel packages including hotels and flights to The Bahamas
‘World first’ hydrogen shipment set to leave Australia for Japan
A state-of-the-art liquid hydrogen tanker readied for loading in Australia Friday ahead of shipment to Japan, in what Canberra described...The Suiso Frontier is docked near Melbourne and is being loaded with super-cooled hydrogen, a source of fuel that supporters hope could one day rival LNG.
Hydrogen produces only steam and no carbon dioxide when burnt, making it an attractive possible alternative to dirtier fossil fuels.
