UAE startups eye Saudi Arabia for growth, expansion
With both nations offering substantial markets and supportive environment for innovation, startups are exploring new opportunities in the Kingdom.Business
GSK to buy Aiolos Bio
The focus is on an asthma medication still at the testing stage.Company News Business
Aramco lands $15.5bn Blackrock deal
The deal creates the Aramco Gas Pipelines Company.The subsidiary Aramco Gas Pipelines Company will lease usage rights in Aramco’s gas pipelines and lease them back to Aramco for 20 years
In return, it will receive a tariff payable by Aramco for the gas products that will flow through the network
Hamilton, Verstappen neck and neck, ahead of weekend’s showdown in Abu Dhabi
The 36-year-old Briton and his Dutch rival, who is 12 years younger, have for the large part treated each other...The 36-year-old Briton and his Dutch rival, who is 12 years younger, have for the large part treated each other with respect
But after 20 races, the equivalent of driving from New York to London, the pair head to Yas Marina with their relationship seemingly at its lowest point
Saudi Arabia drops paper, adopts e-invoicing
The first phase of electronic invoicing in Saudi Arabia has begun, affecting all taxpayers liable to VAT in the Kingdom...The Kingdom's first phase of electronic invoicing has begun, affecting all VAT payers
Purchasing with tax invoices and failing to notify the Authority of any fault will result in a fine of 10,000 Riyals
50% of top 10 automotive OEMs will design their own chips by 2025
“Automotive semiconductor supply chains are complex,” said Gaurav Gupta, research vice president at Gartner. “In most cases, chip makers are...The on-going chip shortage is primarily with mature semiconductor technology node devices that are fabricated on smaller 8-inch wafers
Semiconductor chip foundries, such as TSMC and Samsung, have provided access to cutting-edge manufacturing processes
Moody’s forecasts stable outlook for GCC banks
Moody’s has forecast a stable outlook for GCC banks during the next 12 to 18 months, primarily due to economic...“Banks’ asset quality will remain high, even as non-performing loans rise slightly as repayment holidays expire”
GCC governments have ample capacity to support banks in a crisis remains very high, thanks to large sovereign wealth funds
KSA and Oman draw closer, sign deals worth $30bn
Saudi Arabia signed deals with Oman valued at $30 billion, state media said Tuesday, as Crown Prince Mohammed bin Salman...Saudi and Omani companies "signed 13 memoranda of understanding worth $30 billion", the official Saudi Press Agency reported
According to SPA, he will also visit the United Arab Emirates, Bahrain, Kuwait, and Qatar
Pandemic turns out to be a boon for billionaires
The share of global wealth of the world's richest people soared at a record pace during the Covid pandemic, a...Since 1995, the slice held by billionaires has risen from one percent to three percent, according to the World Inequality Report
The club of the richest one percent has taken more than a third of all additional wealth accumulated since 1995, while the bottom 50 percent captured just two percent
Rohingya sue FB for $150bn
The complaint says Facebook's algorithms target susceptible users.Facebook has been sued by Rohingyas over allegations that it promotes disinformation and extremist thought against Muslims in Myanmar
According whistleblower Frances Haugen statement, Facebook is "fanning ethnic violence" in some countries.
‘Saudi women entrepreneurs have it easier now’
Boundary-pushing journalist and entrepreneur Muna AbuSulayman tells TRENDS how things have changed for businesswomen in Saudi Arabia.Young entrepreneurs who have never worked before struggle severely, and their businesses fail early, says Muna AbuSulayman
Influencers should create important and meaningful content for this new world and the new generations, she adds
Evergrande to restructure debt
It also formed a risk committee before upcoming payment deadlines.The company's struggles to meet its commitments have fanned concerns about China's property sector
The sector forms a substantial part of the world's second-biggest economy
