Pfizer reports loss in Q4
The drugmaker's revenues fell 41 percent to $14.2 billion.Company News Business
NMDC wins $354m contract
The contract is for the Shamal Development marine works.The Shamal Development is part of the Khalifa Port located in Taweelah in Abu Dhabi
It was built on a reclaimed artificial island reaching 4.5 km offshore
2021 recap: UAE startups lead MENA region
As the startup ecosystem takes off in the MENA region, TRENDS helps experts deliver valuable advice for entrepreneurs.International investors are flocking to Saudi enterprises, and the value of investments is likely to increase in 2022
Startups in the UAE, Jordan, and Egypt attracted the most venture-capital funding, accounting for 73 percent of total deal value in November 2021
Samsung eyes Biogen for $42bn
Biogen is known for its Alzheimer’s drug Aduhelm.Biogen is known for medicines to treat multiple sclerosis in addition to Aduhelm
It was founded in 1978 by a team that included Nobel Prize winners Walter Gilbert and Phillip Sharp
Dana Gas receives $39 million payment from Egyptian government
Dana Gas has received a payment of $39 million (AED143 million) from the Egyptian Government in December, the company announced...The payment reduced its receivables in Egypt below $30 million to its lowest levels since commencing operations there in 2007.
Dana Gas has invested over $2 billion since first entering Egypt in 2007 and is currently the fifth-largest gas producer in the country.
Saudi designates China’s NIPA as patent searching and examining authority
The Saudi Authority for Intellectual Property (SAIP) has designated the National Intellectual Property Administration of China (CNIPA) as International Searching...The move allows international patent applicants in the kingdom to select CNIPA to issue international search reports for their applications.
Saudi authorities see the development as an enhancement of cooperation between the two sides in the field of intellectual property.
Turkish crisis turns books into vanishing luxuries
The Turkish book industry pinpoints one of the flaws in the economic experiment Erdogan has unleashed on his nation of...The Turkish book industry pinpoints one of the flaws in the economic experiment Erdogan has unleashed on his nation of 84 million people in the past few months
Turkish Publishers Association president Kenan Kocaturk said the coronavirus pandemic has contributed to book industry's problems by raising the price of unbleached pulp
‘Digital currencies are GCC future’
Payment landscape in Gulf countries is headed for a significant change, Ralf Wintergerst, Group CEO of G+D tells the TRENDS....Payment landscape in Gulf countries is headed for significant change as it’s among the fastest-growing e-commerce markets, Ralf Wintergerst tells the TRENDS
Many central banks in the GCC region are already testing in sandbox environments to simulate a digital currency under real-world conditions, Wintergerst added
‘Robot chef’ makes steaks at Israel restaurant
The "robot chef", which is the size of a large oven, can make three different steaks simultaneously -- though a...It mixes ingredients including beans, potatoes and chickpeas to create a texture that resembles that of real meat, says CEO of an Israeli startup.
Around five percent of Israelis say they are vegan and the market for meat alternatives is on the rise.
Dubai Chamber to start four-and-a-half day working week from Jan 2022
Dubai Chamber has announced that it will shift to a four-and-a-half day working week from 3 January 2022. This is...The new working week is in line with the newly approved workweek for UAE federal government employees.
The official working hours will be nine working hours per day Monday-Thursday, from 8am to 5pm, and four working hours on Friday, from 8am to 12pm.
Kuwait’s Warba Bank celebrates listing of $250m Sukuk on Nasdaq Dubai
Kuwait's leading Islamic bank, Warba Bank, celebrated the listing of the bank's $250 million perpetual Tier-1 Sukuk on Nasdaq Dubai...This was the third listing after a $250 million and a $500 million instrument in Mar 2017 and Oct 2019 respectively.
The new listing brings the total outstanding value of the bank’s Sukuk on the exchange to $898 million.
