TECOM Group net profit up 49%
The company recorded its highest-ever revenue of AED 2.2 billion.Company News Business
Turkey is restarting ruptured oil link connecting Iraq
Turkey's state oil operator Botas said the fire at the pipeline had been fully extinguished late on Tuesday, but gave...Tuesday's blast along the Kirkuk-Ceyhan link in southern Turkey contributed to a rise in international crude oil prices to a seven-year high
The pipeline normally carries more than 450,000 barrels a day from oil fields in northern Iraq to a Turkish port on the Mediterranean Sea
Aramco signs 10 Korea deals
The signings took place at the Saudi-Korean Investment Forum.The deals aim to advance Aramco’s downstream strategy and support the development of low-carbon energy solutions
They are also expected to create new financing options for the world’s largest oil and gas company
ExxonMobil to go net-zero by 2050
The net-zero target is only for its operations, not products.Chief executive of ExxonMobil confirmed that the company has committed to have a Permian operations at net-zero carbon by 2030
The company will release "detailed roadmaps" addressing 90 percent of operations-related greenhouse gas emission by the end of 2022
OPEC Fund extends $35m loan to support Vietnam SMEs
The amount will reportedly be given to the Vietnam-based Southeast Asia Commercial Joint Stock Bank (SeABank) for on-lending.The money will be used to facilitate access to finance for SMEs and women-owned businesses in Vietnam
It will also be used to promote climate funding for a sustainable economic recovery in the country
Marka: From a star UAE retailer to a bankrupt firm
Flouting norms, massive mismanagement and lack of transparency and corporate governance have potential to take any company the Marka Holding...The recent Dubai court decision highlights that the funds of shareholders and creditors should be judiciously used. Else, the law of the land will catch you
In October 2021, the UAE retail and leisure company Marka was declared bankrupt by a local court, and all of its assets were brought into liquidation
Microsoft to buy Activision Blizzard
The $69-billion deal is the largest acquisition in the gaming world.The deal will make Microsoft the third-largest gaming company by revenue, behind Tencent and Sony
This will be the largest acquisition in the industry, far ahead of Take-Two's $12.7-billion purchase of Zynga
AT&T, Verizon agree to delay 5G activation at some airports
US Telecom giants AT&T and Verizon will delay the implementation of their 5G network on a "limited number" of towers...AT&T and Verizon agreed on partial delay of their 5G deployment as US airlines warned of "major operational disruptions" due to the rollout
The FAA has approved some transponders to be safely operated within areas where 5G will be deployed
World tourism won’t return to pre-Covid levels until 2024: WTO
In Europe and the Americas, foreign visitor arrivals surged by 19 percent and 17 percent, respectively, last year over 2020....Tourism revenue in 2020 was 72 percent down on the previous year which closed with the Covid onset
The highly contagious Omicron variant, though mild, will "disrupt the recovery" in 2022
Ferrari World and Warner Bros. break Guinness Records titles
Ferrari World Abu Dhabi and Warner Bros. World Abu Dhabi broke two Guinness World Records titles in celebration of the...Warner Bros. World Abu Dhabi broke the record title with 20,482 contributions during the festive season
The Park broke the record title with 4,826 contributions breaking the previous world record of 2,462
Europe showcases work on circular economy at Expo 2020
An event at the Expo 2020 Dubai showcased Europe's work for the transition to the circular economy and how it...The event showed Europe's willingness to foster international cooperation especially in a time of post-pandemic awareness and recovery
The function opened with a welcome speech by Executive Vice President Frans Timmermans and will close with a message from Environment Commissioner
