‘Bond market acts as a mirror to economic realities’
"(US Federal Reserve Chair Jerome) Powell's focus on verifying inflation's trajectory is in line with the central bank's dual mandate...Business Markets
Novartis to buy MorphoSys
The deal gives Novartis access to new blood cancer treatment.Company News Business
CES prepares to draw tech crowd despite Covid-19 surge
Multiple companies — including Amazon, BMW, and Microsoft — reduced or canceled their attendance as Covid-19 case numbers broke records,...The 2022 show was meant to be the triumphant return of an event that hosted some 170,000 people and more than 4,500 exhibitors
Last year's event was online-only, with organizers saying it was ‘not possible to safely convene tens of thousands of people in Las Vegas’
Alpha Dhabi Holding raises stake in Aldar Properties to 30%
Alpha Dhabi Holding (ADH) has announced the acquisition of an additional 17 percent shareholding of Aldar Properties. The acquisition will...The acquisition is in line with Alpha Dhabi Holding's recently announced expansion plan and future strategy
Early this year, Alpha Dhabi Holding acquired a 12.8 percent strategic stake in Aldar Properties
Factors that may impact oil’s demand-fueled recovery
At the global scale, 56.5 percent of oil reserves and 26.7 percent of natural gas reserves are owned by Arab...The financial crisis of the Arab countries will not ease unless oil prices, which will remain above $80 per barrel until 2025-end, come down
Oil prices climbed by about $28.2 per barrel from January until October 2021, showing 51.2 percent increase over the 10 months
Tesla delivers 1m cars
The increase is 87% over the previous year.Tesla announced last January that it was aiming to increase deliveries by 50% per year over several years
Tesla has managed to overcome global logistics issues that have plagued the auto industry
Jordan defers Covid-19-hit restaurants’ repayments till mid-2022
Issam Fakhreddin, the head of Jordan Restaurants Association called on tourist restaurants to submit a written request and a document...Issam Fakhreddin, the head of Jordan Restaurants Association called on tourist restaurants to submit a written request and a document of inability to repay.
He also commended the government’s financial assistance packages, which had mitigated the Covid-19 pandemic-conduced repercussions on Jordan's restaurant sector
Huawei revenues down 29%
Huawei is the world's biggest supplier of telecoms network gear.Huawei revenues went 29 percent down this year as US has barred Huawei from acquiring crucial components such as microchips
Chief financial officer Meng Wanzhou, the daughter of Huawei founder released this year after spending three years under US extradition warrant house arrest in Canada
Suez Canal revenues hit all-time high of $6.3bn in 2021
The revenues rose by $720 million, or 12.8 percent, in 2021 compared to 2020 when they were $5.6 billion.A total of 20,649 vessels flowed through the canal last year, an increase of 10 percent compared to 18,830 vessels in 2020
The total net load through the canal in 2021 was 1.27 billion tons, against 1.17 billion tons in 2020: a difference of 8.5 percent
GCC countries competing to lead the world in AI
Several countries in the region have already formed AI policies to support their national goals after this technology demonstrated its...The Middle East AI market is growing at a rate of 20-34 percent per year, according to a PwC report
Saudi Arabia is lavishing $500 billion on the NEOM’s project, which will offer ultra-connectivity, and is trialing air-taxis
AT&T, Verizon defy 5G block
The US had asked them to delay 5G rollout by 2 weeks.The US introduction of the high-speed mobile broadband technology had been set for December 5
It was delayed to January 5 after concerns were raised that the new system might interfere with alitmeters
World leaders, dignitaries hail UAE for Dubai Expo 2020
Several world leaders and dignitaries who attended the Dubai Expo 2020 have hailed the mega event as "a beacon for...The Expo will host the first Global Goals Week to be held outside of the United Nations in New York from 15-22 January.
It will be the seventh Theme Week held under Expo’s flagship Program for People and Planet, helping to drive positive action.
