Deutsche Bank to slash 3,500 jobs
The bank said it would buy back shares and pay dividends.Company News Business
US stocks rebound from sell-off on Fed disappointment
New York, United States - Wall Street stocks rose early Thursday, rebounding from the prior session's pullback as markets awaited more...Business
Syria inks solar plant deal with UAE firms
Syria has signed a deal with United Arab Emirates firms for the construction of a solar power plant near Damascus,...The accord comes two days after UAE Foreign Minister Abdullah bin Zayed Al-Nahyan met President Bashar al-Assad in Damascus
The Syrian government initially approved the project last month, with Economy Minister Samer al-Khalil calling it a positive sign
Saudi Arabia sells dual-tranche bonds for $3.25 billion
Saudi Arabia has sold two bonds--a sukuk tranche and a conventional bond--for $3.25, the kingdom's National Debt Management Center (NDMC)...The value of the first tranche is at $2 billion for a nine-and-a-half-year sukuk maturing in 2031.
The second tranche of $1.25 billion is for a 30-year bond maturing in 2051.
ADFD provides Lesotho with $20m finance for water supply
Abu Dhabi Fund for Development (ADFD) will provide the Butha-Buthe District in Lesotho with $20 million in finance for the...The water supply system will provide 9,000 cubic meters of clean water per day, enough to meet the water needs of the Butha-Buthe population
The loan agreement was signed by Mohammed Saif Al-Suwaidi, Director General of ADFD, and Thabo Sophonea, Lesotho’s Minister of Finance
Sharjah International Book Fair world’s largest publishing event in 2021
The Sharjah International Book Fair (SIBF) has emerged as the world’s largest book fair this year, attracting the participation of...The fair saw the participation of 546 publishers and literary agents from 83 countries.
In the run up to the fair, SIBF Publishing Conference serves as a platform for buying and selling rights and signing book deals.
Trade surges 69% to AED15.84bn between UAE and Italy in 2021
Trade between the United Arab Emirates (UAE) and Italy has surged 68.6 percent to AED15.84 billion in the first half...Imports too showed remarkable strength touching AED11.33 billion while exports hovered around AED3.65 billion
Direct trade amounted to AED12.954 billion, whereas free zone trade totaled AED2.839 billion
Air Arabia Q3 net profit $56 million
The airline said it served over 1.9 million passengers from its five hubs.The company’s turnover for the said quarter increased by 174 percent to AED804 billion, compared to AED294 million in the corresponding period last year.
During the first nine months of the year, Air Arabia added 43 new routes to its global network from its hubs in the UAE, Morocco, and Egypt.
ADX, Bahrain Bourse partner to unlock joint opportunities
The parties agreed on a strategic plan to implement new measures over the next nine months to strengthen ties between...As part of the agreement, ADX and BHB have agreed to introduce a number of products and services including Exchange Traded Funds (ETFs)
As part of ADX’s strategy for growth announced at the beginning of the year, the exchange is forging partnerships with global exchanges
TAQA nine-month net income $1.17 bn
The total revenue is 11 percent higher than the same period last year.TAQA’s Board of Directors announced an interim cash dividend of AED618 million ($168.25 million).
The EBITDA was AED14.4 billion ($3.92 billion), an increase of 20 percent from last year.
Apple loses bid to stall apps bypassing pay system in Epic Games case
A judge rejected Apple's request to delay letting App Store offerings bypass its payment system as ordered by the court...Epic filed the lawsuit to break Apple's grip on the App Store, accusing the iPhone maker of operating a monopoly in its shop for digital goods or services.
The judge reasoned that Apple's policies not allowing app developers to steer users to payment platforms outside the App Store as being a factor in the "antitrust conduct."
ACWA Power loss in Q3 $5.8 million
The company said losses due to IPO-related issues and payments.The company's profit in the same quarter a year ago was SR541 million.
The net profit of the first nine months of this year also went down by half to SR434 million.
