Toyota expects to book profit of US$30bn
Its third-quarter net profit jumped to US$7 billion.Business
Jeddah Central Development Company signs 4 contracts worth $3bn
Jeddah, Saudi Arabia - The Jeddah Central Development Company, a company owned by the Public Investment Fund (PIF), signed four...Business
Sheikh Mohammed launches largest tourism campaign ‘World’s Coolest Winter’
UAE Vice President and Prime Minister Sheikh Mohammed bin Rashid Al Maktoum launched the second season of the World’s Coolest...The campaign highlights the diversity of the UAE’s tourism and recreational attractions.
With an occupancy rate of 64 percent, the UAE outperformed the top 10 tourist destinations in the world.
Reddit to go public
Reddit submits draft registration with the USSEC.The company said it had not yet determined the number of shares that will be offered nor the price range for the stock
Created in 2005 by two students from Virginia, the discussion platform was bought in 2006 by Conde Nast, which publishes magazines such as Vogue, The New Yorker and Vanity Fair
QA arm expands Gulfstream fleet
Qatar Executive is a business-jet subsidiary of Qatar Airways.Qatar Executive is a business-jet subsidiary of Qatar Airways
It now has a total of 11 Gulfstream G650ER aircraft in its fleet
Saudi Arabia to dominate regional ecommerce
Factors ranging from internet penetration to smartphone ownership to bank-account holdings, and more are coming together to make Saudi Arabia...The GCC will have the fastest ecommerce growth in the MEASA region between 2019 and 2022
Ecommerce will help Saudi’s economic growth, with the domestic online market expected to reach $2 billion by 2025
Qantas picks Airbus over Boeing
Boeing currently supplies much of Qantas' domestic fleet.Qantas Airlines committed to buying 20 Airbus A321XLR planes and 20 A220-300 jets from Airbus
Boeing currently supplies much of Qantas' domestic fleet
Saudi Arabia looks to lead solar-cell industry
Demand for PV technology will increase in 2022, says Fahad Bin Omairah, CEO of Bin Omairah Holding Company.Masdar is a state-of-the-art PV solar panels factory with a total capacity of 1.2 GW and a SAR700 million investment
Solar panel systems are now priced $1-1.5 per watt
ADQ establishes office in Cairo to boost its investment in Egypt
Abu Dhabi Development Holding Company (ADQ) has established a new office in Egypt to build on its commitment to investing...The opening of ADQ’s new office complements the $20 billion strategic investment platform launched in 2019 between ADQ and TSFE.
The platform aims to help advance Egypt’s economic development through joint strategic investment projects, specialized funds and investment tools.
RAKEZ to partner with CBD for easy access to bank’s services
Ras Al Khaimah Economic Zone (RAKEZ) has entered into a strategic alliance with the Commercial Bank of Dubai (CBD) to...An MoU was signed by RAKEZ Group CEO Ramy Jallad and CBD CEO Dr. Bernd van Linder.
The agreement makes it convenient for RAKEZ clients to business bank accounts.
ADNOC announces big onshore oil and gas find in Abu Dhabi
ADNOC announced on Wednesday "significant conventional oil, condensate and gas discoveries" of up to 1 billion barrels of oil equivalent...Conventional oil, condensate and gas discoveries of up to 1 bn barrels reported from an exploration well in Abu Dhabi’s Onshore Block 4 Concession.
The oil giant said the next step is to appraise and further quantify these resources as well as to explore the potential in and around Onshore Block 4.
UAE taps Harvard lab to help build its economy
The new partnership between Harvard university’s Growth lab and the UAE’s Ministry of Economy is in line with the government’s...The UAE signed agreement with Harvard’s Growth Lab, specialized in theoretical and empirical research on determinants of growth
The two-year program under the agreement will see academic experts conduct evidence-based economic analyses and research
