India’s L&T secures EPC contract for Saudi Arabia’s Amaala project
New Delhi, India - Larsen & Toubro (L&T) secured a major Engineering, Procurement, and Construction (EPC) contract for the Amaala...Business
IPOs, investments help GCC markets prosper in 2023
Regional markets are reflecting a transition from oil dependency to diversified economies with six IPOs raising $419 million in in...Business Markets
India selling Air India to Tata conglomerate for $2.4 billion
Tata had founded the airline as Tata Air in 1932, with the first flight piloted by Tata's eponymous chairman himself....The government is also selling a 50 percent stake in Air India SATS Airport Services, which provides cargo and ground handling services.
New Delhi is seeking to lease state-owned assets to the private sector to raise $800 billion.
Salaries of Saudi staff leap up 5.2 percent in Q2, expats earned lesser
Average monthly salaries of Saudi workers have grown by 5.2 percent to SAR 10,490 during the second quarter of 2021,...On a quarterly basis, the salaries declined by 1.03% when compared to their level in Q1-21 at SAR 10,600
Meanwhile, the average monthly salaries paid to expatriates in the kingdom fell by 1.08% YoY to SAR 4,091 in the April-June period
YouTube Music tops 50 million subscribers
YouTube Music trails rivals Spotify, Amazon and Apple. The company said in June it has paid more than $4 billion...Spotify had 32 percent of the global music streaming market in the first quarter of this year.
The overall number of streaming music service subscribers climbed more than 19m to a total of 487m in Q1.
UN official lauds UAE for resolve to cut carbon emissions to zero by 2050
 The United Arab Emirates will aim to achieve net-zero emissions by 2050, a plan commensurate with the country’s 2050 Strategic...UAE aims to reach net zero greenhouse gas emissions by 2050
The initiative, announced at Expo 2020 Dubai, aims to underpin dynamic economic growth alongside positive environmental impact
Fedex arm plans Saudi growth
FedEx Express is a subsidiary of FedEx Corp.FedEx Express will invest more than SAR1.5 billion ($400 million) into the Saudi economy over the next 10 years
This investment will be through talent management as well as local operations and infrastructure
Google to stop pairing ads with climate change misinformation
The new policy for Google advertisers, publishers and YouTube creators will prohibit the platforms from helping people make money from...The new policy for Google advertisers, publishers and YouTube creators will prohibit the platforms from helping people make money from content that denies climate change
The internet giant added that the policy change aligns with efforts by the company to promote sustainable practices and confront climate change
UAE flights to help 1m Mideast tourists visit Brazil
Before the pandemic, around 75 percent of the tourist traffic between Brazil and the Middle East were to and from...These will be direct flights from the UAE to Brazil’s Amazon and the Northeast regions
Brazil’s tourism minister has said more Brazilians would love to visit the UAE once the new flights are launched
Khalifa Fund network to help Abu Dhabi SMEs
The network, called the AD SME Tribe, will enable the growth of enterprises through community-focused guidance.The new initiative reportedly aims to create a dedicated community through which SMEs can connect with stakeholders
These stakeholders may include service providers, policymakers, and Abu Dhabi’s priority sector leaders
$1.93 billion worth of weekly realty transactions made in Dubai
Real estate and property transactions worth AED 7.1 billion ($1.93 billion) were recorded in Dubai during the week ending October...A plot of land sold for AED 33 million in Hadaeq Sheikh Mohammed Bin Rashid.
The highest number of transactions, valued at AED 126.61 million, were recorded in Al Hebiah Third.
Brazil plans to attract 1 million tourists from Middle East by 2024
Brazil's tourism minister has said the country is planning to attract about a million tourists from the Middle East in...Brazil is in touch with Emirati officials for operating more direct flights to Amazon and northeast regions, says tourism minister.
Annual outbound and inbound tourist traffic from Brazil to the Middle East is around 125,000 and 120,000 respectively at present.
