Qatar’s foreign merchandise trade surplus $5.13 billion in Dec 2023
Doha, Qatar - Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...Business
Philips to halt sales of sleep machines in US
It posted losses to the tune of US$502m during the year 2023.Business
NASA awards $415m contracts for commercial space stations
Jeff Bezos' Blue Origin, aerospace company Nanoracks and defense contractor Northrop Grumman won $130 million, $160 million, and $125.6 million...The US space agency is increasingly turning to private industry to develop hardware it once made itself
This helps it cut costs and focus on goals that include building habitats on the Moon and preparing for a crewed mission to Mars
Blink Experience backs Saudi GP
Saudi GP said the UAE company is now an official supporter.The Saudi GP is expected to be the largest sporting event to be hosted by the country
It is going to be held for the first time at the Jeddah Corniche Circuit
European Union fines major banks 344 million euros over forex cartel
Brussels slapped fines totaling 344 million euros (390 million dollars) Thursday on Barclays, RBS, HSBC and Credit Suisse after finding...Barclays, RBS, HSBC and Credit Suisse were fined and UBS's fine was reduced to zero as it voluntarily came forward to cooperate with regulators.
These fines brought to an end the third part of an investigation that has been ongoing since 2013 and which had already resulted in more than one billion euros in fines in 2019.
Pakistan’s national carrier to start flights from Karachi to Mashad in Iran
Chief Executive of Pakistan International Airlines (PIA) Air Marshal Arshad Malik announced that the PIA will start direct flights from...Currently, Iran Air operates a flight a week from Tehran to Karachi and vice versa.
There are reports that Mahan Iran Airlines will resume flights from Tehran and Mashad to Lahore.
SIDF inks deal with Engie
The agreement is expected to yield low-carbon energy services.The move will let SIDF employees join Engie’s knowledge-exchange 2022 training program, which will be held in Saudi Arabia
It will also give SIDF employees the opportunity to work with experts at Engie for six months at the company's headquarters in Paris
Libya sends first passenger ferry to Turkey in decades
Travel links with and within Libya were severely disrupted by the 2011 revolt that overthrew dictator Moamer Gadhafi.The ferry left the Libyan port of Misrata and was headed to Turkey's coastal city of Izmir
Libya has not been serviced by any international ferries for 25 years
Armani adopts fur-free policy
The company said it would no longer use angora wool.The company said it would no longer use the material across all of its lines from next year's fall-winter collection
A growing number of fashion companies are adopting policies against using materials that require cruelty towards animals
OPEC and allies may freeze oil output
The OPEC+ alliance led by Saudi Arabia and Russia has so far resisted US-led pressure to significantly boost output to...The emergence of the new Omicron variant of Covid-19 has put a shadow on whether OPEC+ will increase or decrease production
The variant has led countries to reinstate travel bans and mull further restrictions that could tighten demand and hurt oil prices
UAE’s first drone delivery service provider breaks two Guinness records
UAE's first licensed drone delivery service provider, BARQ EV, has broken two Guinness World Records-- the longest (13.58km) flight of...BARQ EV broke the record for the longest (13.58km) flight of a drone for the delivery service.
It also broke the longest (18.065km) non-stop return flight for a drone record.
ADNOC to invest $127bn in 2022-2026
The company announces a significant rise in oil and gas reserves.ADNOC plans to bring $43 billion back into UAE economy through ICV program.
ADNOC's ICV program has driven AED105 billion back into the UAE economy and created over 3,000 jobs for UAE nationals.
