Major stock markets trade mixed as US inflation data awaited
London, United Kingdom - Major stock markets traded mixed Thursday before the release of US inflation data that could present a...
Business
Egypt signs several MoUs with global developers in renewable energy
Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global...
Business
Business
Network International of UAE posts 19% jump in revenue
Network International, the UAE-based payment solutions firm, has posted a 19 percent jump in revenue in the third quarter, increasing...
- Merchant solutions revenue was up by 38 percent, the company said in its Q3 2021 trading update
- The company said that its entry into the Saudi Arabian Market was also on track, with the expectation of launching in the kingdom in early 2022
Business
Fertiglobe completes IPO on Abu Dhabi Securities Exchange
The initial public offering (IPO), which raised over $795 million, experienced strong demand from local and international investors, with orders...
- Fertiglobe’s shares will begin trading at AED2.55, implying a market capitalisation for the Company of $5.8 billion
- The company is the world's largest seaborne exporter of urea and ammonia and the largest nitrogen fertiliser producer in the MENA region
Economy
Which Asia-Pacific countries are re-opening to foreign visitors?
Mainland China, where Covid-19 first emerged last year, remains closed to overseas tourists, as is Japan.
- Mainland China, where Covid-19 first emerged last year, remains closed to overseas tourists, as is Japan
- India re-opened for foreign tourists on charter flights this month and will allow in visitors on all flights from mid-November
Business
NEOM Tech and OneWeb team up for $200m high-speed satellite
NEOM Tech & Digital Holding Company and OneWeb have signed a $200 million joint venture agreement to bring high-speed satellite...
- Both the companies will have exclusive rights to distribute OneWeb services in its target regions for seven years from the start of the satellite network
- NEOM Tech & Digital Holding Co. and OneWeb expect to complete ground infrastructure in 2022
Business
Turkey’s hazelnut farmers blame Nutella for their meagre pay
The world-famous spread is made by Italy's Ferrero confectionary, Turkey's top hazelnut purchaser. The global giant's other sweets include Ferrero...
- The little heart-shaped nut in Turkey accounts for 82% of global exports
- Ferrero has six facilities in Turkey, where it has been sourcing hazelnuts
Business
Alphabet posts $18.9 bn profit
Google remains a centerpiece of online activity.
- Google remains a centerpiece of online activity, with offerings such as its search engine, ad marketplace, and YouTube video platform
- The surge in Alphabet's earnings comes as the tech giant faces increased scrutiny from regulators regarding its power
Business
Careem faces flak over random price hike
People in the UAE complain about Uber and Careem's high prices, which have been raised significantly in the last few...
- An increasing number of people in the UAE are complaining about Uber and Careem's high charges
- The fares, it is claimed, have been raised significantly in the last few months due to Expo 2020 and Dubai attracting many tourists
Business
Tunisia: Investment in services reach $252m in nine months of 2021
Tunisia has witnessed an investment of 713.4 million dinars ($252 million) in service activities during the first nine months of...
- The investments will be mobilized under 6,464 projects and will create 22,053 new jobs.
- Services directed to the local market (96 percent of overall investment declarations) saw a 3.1 percent increase.
Business
Sharp recovery to see Middle East box office revenue cross $800m in 2021
Box office revenue in the Middle East made the fastest recovery in the world, from $250 million in 2020 to...
- The revenue is expected to continue to rise, reaching $1 billion in 2022 and $1.3 billion in 2024, research has shown.
- Only 261 of the 3,099 screens in the Middle East and Africa were closed due to the pandemic.
Business
IHC to acquire Arena for $98m
A consortium will hold the Arena shares in a 70:30 ratio.
- Arena Events Group is a London Stock Exchange-listed events services business.
- According to the terms offered, Arena shareholders will receive 21 pence in cash for each share.
Major stock markets trade mixed as US inflation data awaited
London, United Kingdom - Major stock markets traded mixed Thursday before the release of US inflation data that could present a...
Business
Company News
Latest News
Russia open to defense cooperation with several countries, says Putin
Moscow is open to equal defense cooperation with all nations seeking to protect their interests, Russian President Vladimir Putin said...
Geostrategy
Abu Dhabi, Dubai realty resilient despite surging inflation, interest rates
Abu Dhabi, UAE – Real estate markets of UAE capital Abu Dhabi and Dubai demonstrated resilience in the face of...
Business
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Arts & Culture
‘Barbie’ retains top spot at N.American box office for fourth week
Los Angeles, United States - Warner Bros.' hit "Barbie" dominated North American box offices for a fourth consecutive week, industry estimates...
- Industry watcher Exhibitor Relations estimated this weekend's haul for "Barbie" at $33.7 million, bringing its domestic total to $526 million.
- Starring Margot Robbie as the iconic doll and Ryan Gosling as boyfriend Ken, "Barbie" has earned a whopping $1.2 billion worldwide.
Business
ADNOC, Tabreed say breakthrough in project to harness geothermal energy
ABU DHABI, UAE – ADNOC and the National Central Cooling Company (Tabreed) on Monday announced a breakthrough following the conclusion...
- The landmark project, the first in the Gulf region, is set to decarbonize the cooling of buildings in Masdar City.
- The project will further diversify the UAE’s energy mix and support the National Energy Strategy 2050.
Business
RSG, Zain build carbon-neutral 5G network
The network runs on clean energy from world's largest carbon-neutral grid.
- This is made possible through the utilization of more than 750,000 solar panels, as well as through the implementation of purpose-designed towers for this network.
- RSG is the multi-project developer behind the ambitious regenerative tourism destinations, The Red Sea and Amaala.