Electronic Arts announces job cuts
The company is cutting about 5 percent of its workforce.
Reliance, Disney announce giant India media merger
The statement said Disney will hold 36.8 percent, Reliance will hold a 16.3 percent stake, and Viacom18 another 46.8 percent....
Business
Business
National Aviation Services buys 51% stake in Siginon Aviation
The Kuwait-based National Aviation Services (NAS), a subsidiary of Kuwait-based logistics provider Agility Public Warehousing, has acquired 51 per cent...
- Siginon Aviation is the largest aviation cargo management and ground handling company in Kenya
- The company did not disclose the cost of the deal, but it said the enterprise value is approximately 12 million Kuwaiti dinars ($40 million).
Business
STC net profit $2.32 bn for 9 months
Net profit in Q3 alone increased by 5.71 percent
- The company attributed the rise in profits in the third quarter to the rise in revenues and a decrease in operating expenses.
- STC's shares are up nearly 20 percent so far this year
Business
Dubai looks to become equine industry hub
The emirate will see a number of new initiatives that will bring new opportunities to the sector, Sheikh Rashid bin...
- The annual cost of caring for a racehorse training in the UAE is about $30,000
- The total money spent by the sector in the country for racehorse training is $570 million
Business
Al Rajhi Bank’s net profit vaults 44% to $2.86bn
Al Rajhi Bank of Saudi Arabia posted a 44 percent rise in net profit to $2.86 billion for the first...
- The higher net profit for Q3 2021 is spurred by 43 percent year-on-year to SR 3.794 billion, compared to the third quarter of 2020
- The bank attributed the profit increase to the rise in total operating income by 26.4 percent, as a result of higher net financing and investment income
Business
Saudi National Bank posts 20% jump in net profit to $1bn
Saudi National Bank (SNB), the kingdom’s biggest lender, has posted a nearly 20% jump in net profit to $1 billion...
- SNB reported a net profit of 3.8 billion riyals ($1.0 billion) for the quarter that ended on Sept. 30, up from 3.2 billion riyals in the same period a year earlier
- The result was better than the 3.6 billion riyals average analysts' forecast
Business
VPS behind T20 bio-bubble
There will be over 2,200 people in the bio-bubble this time.
- The ICC World Cup T20 bio-bubble will consist of players, supporting staff and their families, and broadcast crew
- There will also be BCCI and International Cricket Council officials, staff at the hotel and stadium, and selected medical personnel
Business
Tamatem pushes Arabic games
This Jordanian firm is being praised for Arabic mobile games.
- Founded in 2013, Tamatem now has offices in the United Arab Emirates and Saudi Arabia
- It has published more than 50 mobile games, which have been downloaded more than 100 million times
Business
Abu Dhabi launches virtual license for non-resident investors
The virtual license covers 13 economic sectors on top of the strategic sectors targeted by the Abu Dhabi government to...
- The program lets non-resident foreign investors obtain an economic license for doing business in the emirate
- They can now do this without any prior residence procedures and from any location outside the UAE
Business
Qatar hopes to attract 1.2 million World Cup visitors
Organizers of the 2022 World Cup in Qatar hope to attract 1.2 million tourists to the Gulf country, an official...
- "They will not (all) be in the country at the same time, as the event extends over a period of 28 days"
- Those include accommodation on cruise liners, hotel apartments, fan villages with an Arabian desert vibe
Business
Electrified cars hit almost a fifth of EU Q3 vehicle sales
At least one in five vehicles sold in the European Union (EU) in the third quarter of the current fiscal...
- Battery electric vehicle sales jumped nearly 57 per cent to more than 212,000 units, while plug-in hybrid models rose nearly 43 per cent
- This is a slower pace of growth than in 2020 when sales almost trebled from a low base
Electronic Arts announces job cuts
The company is cutting about 5 percent of its workforce.
Company News
BT to axe 55,000 employees
Business
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easyJet H1 loss $382m
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Aldar raises US$500mn
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UAE commends UN for successful oil transfer from decaying Yemen tanker
Abu Dhabi, UAE--The UAE has applauded the UN for the successful unloading of oil from the deteriorating tanker, FSO Safer,...
Economy
Use of technology, innovation crucial in daily life
"Multi-carrier aggregation is a proven method to enhance both the peak and average throughputs of wireless networks. This deployment underscores...
Business
UAE ranks first globally in employing Indians, Saudi second: Minister
New Delhi, India -- The UAE ranks first among the countries in the world in the employment of Indians, currently...
Business
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Business
DEWA picks bidder for 1,800MW phase of Al Maktoum Solar Park
Dubai, UAE -- In a step towards its clean energy ambitions, the Dubai Electricity and Water Authority (DEWA), has announced...
- Designed to be the world's largest single-site solar park, it is projected to boast a remarkable capacity of 5,000MW by 2030, with an investment infusion totaling AED 50 billion.
- The upcoming 1,800MW 6th phase is anticipated to catapult the cumulative production capacity to 4,660MW as additional 433 MW capacity is currently under construction.
Business
QCB to grant licenses to website providers for comparing prices of insurance policies
Doha, Qatar--Qatar Central Bank (QCB) has exhorted companies willing to work in providing website services to compare prices of insurance...
- With this announcement, the central bank seeks to regularize and upgrade the financial sector in the country
- The bank said in a statement that the instructions are intended to streamline operations of service providers
Business
Cristiano Ronaldo’s goal propels Al-Nassr to win King Salman Club Cup
Taif, Saudi Arabia-- Cristiano Ronaldo led his team to victory as Al-Nassr FC won the 2023 King Salman Club Cup...
- Inspired by Ronaldo, Al Nassr beat its rival Al-Hilal after extra time despite playing for more than an hour with just 10 men
- The final match which went into extra time after the game was tied at 1-1 was held at the King Fahd Sports City Stadium in Taif