Apple’s changes contradicts European rules, 34 firms complain
Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...
Business
Energy-related global CO2 emissions hit record levels in 2023, says IEA
PARIS, FRANCE – Energy-related carbon dioxide emissions rose to a record level in 2023, but the growth slowed from previous years...
Science
Business
YahSat Q3 profit down 38 percent
YahSat said its contracted future revenues are over $2 billion.
- Yahsat said a final dividend of $52.5 million for 2021 is expected to be paid to all shareholders in April 2022.
- YahSat was last week appointed by the UAE government to complete a detailed analysis, assessment and recommendation for two new satellites.
Business
EGA increases Al Taweelah smelter plant’s capacity by 78,000 tons per year
Emirates Global Aluminium (EGA) has increased the production capacity at Abu Dhabi's Al Taweelah smelter by 78,000 tons per year....
- The plant adds 66 new reduction cells that were built using EGA's locally developed technology.
- He said all 2,843 reduction cells at EGA use the company's own efficient technology developed in the UAE, says EGA CEO.
Business
Organic farmers find fertile ground in North Africa
In Tunisia, the land dedicated to organic farming has multiplied 20-fold since 2001. In Morocco, the area of farmland certified...
- Despite its small size, Tunisia ranks 30th in the world and first in Africa in terms of area certified for organic farming.
- Moroccan authorities are trying to develop the sector with the Green Morocco Plan, which helps farmers cover the costs of getting certified.
Business
Tadawul of Saudi Arabia to list its IPO on the bourse
Tadawul, the owner of Saudi Arabia's stock exchange, will proceed with its initial public offering (IPO) and list the shares...
- The operator of the bourse will offer 36 million ordinary shares, representing 30 percent of its issued share capital of 120 million shares
- This comes after the Gulf state’s regulator, Capital Markets Authority (CMA), signed off on the exchange’s IPO last week
Business
Algerian farmer’s olive oil wins global recognition
Hakim Alileche left a successful career in graphic design and moved to the Algerian countryside to produce "magic potion" --...
- The 48-year-old says he chose the Ain Oussera plateau for its cheap land and water supply
- His oil won first prize at the Dubai Olive Oil Competition in the Extra Virgin Early Harvest category in February 2021
Business
Axa insurance Q3 premiums down 7 percent
Q3 net profit down 18 percent from the same period last year.
- The firm's total comprehensive income also dropped 36 percent to 38 million riyals.
- Axa said the fall in net profit can be attributed to the overall decrease in insurance results and an increase in investment income.
Business
Colombia targets $1bn trade and direct flights with UAE
Colombia sees the UAE as a potential partner for growth in bilateral trade, economy, and tourism.
- Non-oil bilateral trade between the two countries amounted to $176 million in the first half of 2019
- The two nations are also in talks over signing a MoU for double taxation avoidance
Business
Sharjah earmarks $1.23m to support publishers
The gesture aims to provide public and government libraries in Sharjah with various modern publications in all Arab and foreign...
- Sharjah ruler Sheikh Sultan bin Muhammad Al Qasimi has directed the allocation AED4.5 million (around $1.23 million) to help publishing houses
- The amount will be used to purchase the latest publications from publishing houses participating in the Sharjah International Book Fair
Business
Air France inks Dubai deals
It has signed sustainable aviation fuel deals with Dubai firms.
- A high-level Air France delegation held strategic meetings with aviation leaders based in Dubai at Expo 2020
- The networking event was organized in partnership with the lille3000 association and sponsored by Clarins
Business
Workshop kicks off at MIT under Monshaat supervision
The first workshop of the Regional Entrepreneurship Acceleration Program kicked off today at the Massachusetts Institute of Technology (MIT), under...
- A team representing different sectors interested in developing an innovative entrepreneurship ecosystem in the Eastern Province is participating in the workshop
- The workshop aims to assess and analyze the ecosystem in the Eastern Province using available data and statistics
Apple’s changes contradicts European rules, 34 firms complain
Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...
Business
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GSA discusses cooperation with IIHF, ISU to boost winter sports in UAE
Dubai, UAE-- The UAE's General Sports Authority (GSA) and the International Skating Union (ISU) and International Ice Hockey Federation (IIHF)...
Business
Dubai leverages AI robots in testing construction materials
Dubai, UAE - Dubai has started using robots that employ X-Rays and other latest AI technologies to carry out automated...
Business
Industrial metaverse eyes $1trn with output boost
The latest technology is poised to transform the industrial sector, with a market expected to reach $400 billion by 2030,...
Business
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Business
ACWA Power is preferred bidder for DEWA’s Hassyan Seawater Reverse Osmosis plant
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer said on Wednesday...
- This project is the largest of its kind in the world for water production based on Sea Water Reverse Osmosis technology using solar energy.
- The water desalination capacity in Dubai is currently 490 MIGD and this capacity will increase to 670 MIGD in 2026 with the completion of this project.
Business
Tencent Q2 net income $3.6 bn
Tencent last year posted its first decline in quarterly sales since its listing.
- Tencent also announced an 11 percent increase in revenue during the second quarter, reaching 149.21 billion yuan ($20.46 billion).
- The Shenzhen-based firm is the world's largest video game company in terms of revenue, dominating the Asian market in particular.
Business
Chinese firms look to expand business in Ras Al Khaimah
Ras Al Khaimah, UAE - Chinese companies are seeking business opportunities in the Ras Al Khaimah Economic Zone (RAKEZ) as...
- RAKEZ currently houses more than 400 Chinese companies ranging from small to medium-sized enterprises (SMEs) as well as large industrial companies.
- This year, RAKEZ has already seen some key investments from Chinese companies, including Maxtron Show Lighting, manufacturer of computer-controlled, programmable LED light systems.