Gold, bitcoin pull back from records as US stock markets slip
On Wall Street, the Dow and the S&P 500 both finished 1.0 percent lower, while the tech-rich Nasdaq composite ended...
Over 105m people visit Dubai Mall in 2023
DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on...
Business
Economy
Tech 2022 trends: Meatless meat, Web 3.0, Big Tech battles
Meat alternatives have become common in an increasing number of US households, thanks in part to Beyond Meat and Impossible...
- Meat alternatives have become common in an increasing number of US households, thanks in part to Beyond Meat and Impossible Food plant-based products
- In web 3.0, "users, creators and developers would have stakes and votes" in a platform in much the way a cooperative works
Business
Emirates, Al Jazeera among 44 GCC brands to win World Branding Awards 2021-2022
A total of 44 GCC brands, which include Emirates, Aljazeera, and ADNOC Distribution, figure in the 2021-2022 World Branding Awards....
- From the GCC region, Saudi Arabian brands win the maximum number of awards, followed by Bahrain.
- Al Jazeera and Ooredoo among the six winning brands from Qatar.
Business
Egypt to levy 10% customs tax on import of mobile phones
Egypt has decided to levy a ten percent customs tax on the import of mobile phones in order to promote...
- Egypt’s Minister of Finance explained that the amendments aim to encourage investment, maximize production facilities
- The amendment of some categories of customer tariffs comes in light of the conclusions reached by the Higher Council of Customs Tariffs in Egypt
Business
Multiply Group to list on ADX
Listing opportunity for investors to invest in disruptive technologies.
- Multiply Group will become the eighth IHC subsidiary to list on the ADX in less than a year.
- The group has Multiply has assets of AED8.16 billion ($2.2 billion) and 3,240 employees.
Business
Qatar affirms its commitment to WTO agreements
Qatar has affirmed its commitment to the principles and agreements of the World Trade Organization (WTO), and praised the body's...
- During the meeting in Geneva the two sides discussed ways to enhance bilateral cooperation and support the ongoing negotiations within the framework of the organization
- The minister stressed Qatar's commitment to the principles and conventions of the World Intellectual Property Organization
Science
Pfizer already working on Covid vaccine targeting Omicron: CEO
Bourla likened the situation to the scenario earlier this year when Pfizer and its German partner BioNTech developed a vaccine...
- Bourla likened the situation to the scenario earlier this year when Pfizer and its German partner BioNTech developed a vaccine in 95 days against Delta which was not used
- On Monday, the World Health Organization warned the new Covid-19 Omicron variant poses a "very high" risk globally
Business
Twitter gets new CEO
Parag Agrawal named to the post as Jack Dorsey resigns.
- Twitter's chief technology officer Parag Agrawal has replaced Jack Dorsey as CEO
- Dorsey has said he would remain a member of the board until around May next year to help with the transition
Interview
Marka Group’s bankruptcy a lesson for GCC firms?
Barry Greenberg, Of Counsel at BSA Ahmad Bin Hezeem & Associated, breaks down what a landmark bankruptcy ruling means for...
- The Marka Group ruling has brought into sharp focus the bankruptcy laws prevalent in the GCC countries in general and the UAE in particular
- They have also spurred calls for reform in the local bankruptcy laws, so that investors or the company don’t lose value
Market Report
Multiply Group to list on ADX
Multiply Group has assets of AED 8.16 billion and 3,240 employee
- The group’s listing on ADX will offer investors the opportunity to invest in the field of disruptive digital technology and other key industries
- The company’s combined portfolio strikes a balance between companies that generate recurring income and high-growth businesses
Geostrategy
Saudi motorsports chief says F1 debut is ‘signal’ to the world’
The newly built venue in Jeddah is all but completed ahead of Sunday's night race just over a year after...
- The newly built venue in Jeddah is all but completed ahead of Sunday's night race just over a year after Saudi Arabia was announced as the wealthy Gulf region's latest F1 host
- Formula One is part of a campaign to show a friendlier face as the world's top oil exporter tries to attract foreign businesses and diversify its economy
Gold, bitcoin pull back from records as US stock markets slip
On Wall Street, the Dow and the S&P 500 both finished 1.0 percent lower, while the tech-rich Nasdaq composite ended...
Company News
ADNOC L&S Q1 net profit $144m
Business
Latest News
$73 bn in saving deposits held by UAE banks during H1 2023
Dubai, UAE - Savings deposits held by UAE banks, excluding interbank deposits, totaled approximately $73.01 billion (AED268.6 billion) by the...
Business
Iran’s BRICS membership to strengthen group, says XI
TEHRAN/ JOHANNESBURG, IRAN/ SOUTH AFRICA - The Iranian and Chinese presidents stressed the need to bolster bilateral cooperation and the...
Geostrategy
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Business
HR ministry and Bayt.com sign MoU to boost talent retention in UAE
Abu Dhabi, UAE -- The Ministry of Human Resources and Emiratization (MoHRE) of the UAE and job search and recruitment...
- The MoU was signed by Khalil Al Khoori, Undersecretary of MoHRE for Human Resources Affairs, and Rabea Ataya, CEO of Bayt.com.
- The UAE was ranked second globally across five indices within the World Competitiveness Yearbook 2022 such as the percentage of expatriate workforce.
Business
Dubai Chambers saves water, works on sustainability agenda
DUBAI, UAE - Dubai Chambers has contributed to the emirate’s drive for sustainability by saving a total of 72,239 litres...
- The savings were achieved as part of the chambers’ participation in Dubai Can, a sustainability initiative launched by the Crown Prince of Dubai.
- Dubai Can is aimed at educating and mobilising all segments of society to reduce waste and protect the environment.
Business
Vietnam’s VNG files for US IPO
VNG operates music streaming, mobile payment and online games.
- Its Zalo is one of the most popular messaging platforms in the country, with 75 million monthly active users.
- VNG plans to sell nearly 22 million shares in the IPO, according to a US Securities and Exchange Commission filing, with the proposed price range not yet set.