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
DGCX total value traded worth $150bn in 2021
The Dubai Gold and Commodities Exchange (DGCX) has reported that the exchange recorded a yearly AOI a sum of 1,985,584...The DGCX’s best performing product in 2021 was its Indian Rupee Options (DINRO) Futures Contract, which traded up 1,233 percent
the DGCX also signed a strategic MoU with Victoria Falls Stock Exchange (VFEX) aimed at supporting with the development of a clearing commodities exchange in Zimbabwe
UAE works on Friday for first time
Some grumbled at the change and businesses were split, with many moving to the Western-style weekend but other private firms...The weekly day of prayer has always been a free day in the UAE, which had previously observed a Thursday-Friday weekend until 2006.
Government bodies and schools will operate four-and-a-half-days per week, closing at 12 pm on Fridays for a fixed prayer time of 1:15 pm.
Atlantic Council to host Global Energy Forum in Dubai
The Atlantic Council has announced that the 2022 Global Energy Forum will now be held alongside Expo 2020 in Dubai...The forum, which is part of Abu Dhabi Sustainability Week, will also be hosted in conjunction with the 2022 World Government Summit
These program will include a high-level discussion on the outcomes from COP26 and the agendas for COP27 and COP28
High gas prices boost Shell
The company slumped into a huge loss in 2020.Shell expects "significantly higher" gas revenues in the three months to December thanks to the "high liquid natural gas spot price environment"
Shell, like its rivals, slumped into a huge loss in 2020 as the long-running coronavirus pandemic slashed energy demand and crude prices
Trippier becomes first signing under Newcastle’s new Saudi owners
England defender Kieran Trippier became Newcastle's first signing under their new Saudi owners on Friday after completing his move from...The full-back has moved back to the Premier League for an undisclosed fee, understood to be in the region of £12 million ($16 million) plus add-ons.
Newcastle, who have not won a major trophy since 1969, face a struggle just to stay in the Premier League.
UAE’s Central Bank says M1 rose by 2.1 percent at the end of Nov 2021
The Central Bank said on Friday that the Money Supply aggregate M1 increased by 2.1 percent, from AED 671.6 billion...The rise in M1 was due to AED 0.6 billion increase in Currency in Circulation Outside Banks and AED 13.8 billion increase in Monetary Deposits.
The Money Supply aggregate M2 increased by 1.3 percent, from AED 1,498.3 billion at the end of October 2021 to AED 1,517.1 billion at the end of November 2021.
REEF, Americana Group to open cloud kitchens across MENA region
Cloud kitchens are kitchens built only for delivery orders, pioneered in the biggest US cities before they spread across the...The two companies said they have entered into a joint venture for the purpose
The cloud kitchens will belong to not just REEF and Americana but third parties as well
Samsung sees 52% jump in profits
The firm was boosted by record sales in 4th quarter.The world's biggest smartphone maker forecast 2021 fourth-quarter operating profits at around 13.8 trillion won ($11.5 billion), up from 9.05 trillion won in the same quarter last
The firm was boosted by record sales in the quarter, estimated at 76 trillion won, up 23.5 percent on-year, according to the company’s statement.
Major GCC countries see push for Arabic e-gaming
People are hungry to consume content that they can understand and more importantly relate to, says Eyad Basheer, chief operating...Around 70 percent of Arab smartphone users have their phones set to Arabic, indicating a preference for content in their mother tongue
According to management consultancy firm Strategy&, mobile gaming will be a $2.3-billion industry in the region by 2022
SEWA implements development projects worth over $14.78m
The Central Region Department of the Sharjah Electricity, Water and Gas Authority (SEWA) implemented a number of development projects during...80 projects have been implemented for network modifications and approximately 50 transformers are installed in the central region.
Cables have been extended to implement these projects with up to 197,624 km of length, and the total cost of the projects is $14.78 million.
