Food dispatch app Uber Eats launches robot deliveries in Tokyo
Uber Eats' boxy robots have square headlights for eyes and three wheels on each side to navigate kerbs as they...
Business
Saudi Arabia cancels maximum age for foreign pilgrims
Saudi Arabia has cancelled the maximum age limit of 50 years for all foreign pilgrims, as per local sources.
- The age limit for overseas pilgrims to perform Umrah was between 18-50
- On average, 18.5 to 20 million people visit Saudi Arabia every year to perform Umrah
Business
EFG Hermes of Egypt unveils new digital trading platform
EFG Hermes, the first universal bank in Egypt and the leading investment bank in Frontier Emerging Markets (FEM), has launched...
- It said the new application will feature a wider range of brokerage services, a fully digitized on-boarding process, a digital payment gateway and more
- The app now also features a digital payment integration system powered by PayTabs Egypt, enabling users to process payments simply and efficiently
Business
Saudi officials seize a big haul of drugs at border
Saudi officials of the Zakat, Tax and Customs Authority (ZATCA) have seized more than 2.1 million Captagon pills at Haditha...
- In the first attempt to smuggle in some 467,441 Captagon pills, the smuggler hid them in the cavity of one of the trucks coming through the point
- The officials said that they have arrested 12 people in connection with the smuggling bid
Economy
Iran, Turkmenistan, Kazakhstan sign MoU on railway cooperation
The rail cooperation document was signed between the three countries on the sidelines of the summit of ECO member-states.
- The rail cooperation document was signed between the three countries on the sidelines of the summit of ECO member-states
- The MoU stipulates that a joint working group be formed to oversee the growth of cargo passing through the transit route
Business
Saudi index falls significantly while UAE market diverges
Stock exchanges in the GCC region saw quite a few ups and downs this week.
- The Saudi index faced a significant fall this week, the first since October 2020, due to military struggles with Yemen
- With Al-Rajhi Bank missing 4.5 percent and Saudi Arabian National Bank dropping 3.7 percent, the Saudi index fell 2.7 percent on Monday
Business
GCC region at the heart of the future of esports: GMIS
Hosted by the Global Esports Federation (GEF), the event was part of the GMIS Week that runs from 22 to...
- Hosted by the Global Esports Federation (GEF), the event was part of the GMIS Week that runs from 22 to 27 November at Expo 2020’s Dubai Exhibition Centre
- Dr Khizer Kaderi, Member of the GEF Health & Wellness Commission, defined the metaverse as a confluence of physical and digital worlds
Business
Apple’s iPhone prices bite in Turkey despite Black Friday
Persistent double-digit inflation and the weakness of the Turkish currency has eroded the purchasing power of Turkish consumers, leading to...
- The lira has lost 38 percent in value against the dollar since the start of 2021, surpassing 13 to the dollar at one point earlier this week
- Certain Apple devices were 25 percent more expensive than usual on Friday -- with some increases worth more than the local minimum wage
Business
Masdar to build Armenia’s largest solar plant on DFBOO basis
Masdar, a renewable energy company and a subsidiary of Mubadala Investment Company, will build a 200-megawatt solar photovoltaic (PV) plant...
- The plant will span over 500 hectares and will create a large number of direct and indirect jobs.
- The project company will be 85 percent owned by Masdar and the rest by the Armenian National Interests Fund.
Business
UAE reviews measures to counter money laundering
Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation, chaired a meeting of the Higher Committee...
- The UAE has been working closely with the Financial Action Task Force (FATF) to ensure the UAE’s legal, regulatory and operational standards meet global standards
- The Committee also reviewed progress made by the UAE in recent months, set out in the UAE’s latest progress update to FATF
Business
Dubai introduces ‘electronic notary public’ after amending the law
Dubai has introduced an automated system that performs the duties of the notary public without human interference and does away...
- The automated notary public has been introduced as part of Dubai’s smart government transformation.
- Companies providing notary public services are now required to inform Dubai Courts about licensed individual notaries public working in the company.
Company News
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Meeza to offer 50% shares in IPO
Business
Qantas posts bumper profit
The airline's annual profit climbs up to US$1.1 billion.
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Business
Markets surge as traders await Powell speech, Nvidia results
A rally in Nvidia helped propel gains in global markets earlier this week, though traders could not keep up the...
- All eyes are on a planned speech Friday by Fed chief Jerome Powell, with dealers hoping for some clarity on its plans to keep inflation on a downward path.
- Investors are also awaiting earnings from Nvidia, which is tipped to post forecast-busting revenue in the second quarter thanks to the surge in demand for its processors.
Business
Iran-China trade down 11 percent to $8.5 bn in seven months
Tehran, Iran -- The trade exchanges between Iran and China in the first seven months of the current year reached...
- China’s top exports to Iran are mainly auto-industry related such as motor vehicles, parts and accessories, vehicle bodies (including cabs) and spark ignition engines.
- China top imports from Iran are ethylene polymers, refined copper, raw aluminum, Iron ore and acyclic alcohols.
Business
One fourth of all investors in state securities have left Russia: Minister
Moscow, Russia -- One fourth of all investors in state securities have been forced to leave the Russian market due...
- Russia's Finance Minister Anton Siluanov the government will find ways to replace the investors to create funds required for development of the economy.
- Moscow's incursion into Ukraine has made Russia the most sanctioned country in the world. Western nations have regularly increased the sanctions.