Multiply Group acquires Backlite Media
The buyout is part of its plan to boost media business.
Business
Europe gives accent to instant payments across the union
Brussels, Belgium - Bank customers will soon be able to transfer money across Europe within seconds after the EU adopted a...
Business
Google to stop pairing ads with climate change misinformation
The new policy for Google advertisers, publishers and YouTube creators will prohibit the platforms from helping people make money from...
- The new policy for Google advertisers, publishers and YouTube creators will prohibit the platforms from helping people make money from content that denies climate change
- The internet giant added that the policy change aligns with efforts by the company to promote sustainable practices and confront climate change
Business
UAE flights to help 1m Mideast tourists visit Brazil
Before the pandemic, around 75 percent of the tourist traffic between Brazil and the Middle East were to and from...
- These will be direct flights from the UAE to Brazil’s Amazon and the Northeast regions
- Brazil’s tourism minister has said more Brazilians would love to visit the UAE once the new flights are launched
Business
Khalifa Fund network to help Abu Dhabi SMEs
The network, called the AD SME Tribe, will enable the growth of enterprises through community-focused guidance.
- The new initiative reportedly aims to create a dedicated community through which SMEs can connect with stakeholders
- These stakeholders may include service providers, policymakers, and Abu Dhabi’s priority sector leaders
Business
$1.93 billion worth of weekly realty transactions made in Dubai
Real estate and property transactions worth AED 7.1 billion ($1.93 billion) were recorded in Dubai during the week ending October...
- A plot of land sold for AED 33 million in Hadaeq Sheikh Mohammed Bin Rashid.
- The highest number of transactions, valued at AED 126.61 million, were recorded in Al Hebiah Third.
Business
Brazil plans to attract 1 million tourists from Middle East by 2024
Brazil's tourism minister has said the country is planning to attract about a million tourists from the Middle East in...
- Brazil is in touch with Emirati officials for operating more direct flights to Amazon and northeast regions, says tourism minister.
- Annual outbound and inbound tourist traffic from Brazil to the Middle East is around 125,000 and 120,000 respectively at present.
Business
Samsung Q3 profit to soar 30%
The company expects its operating profits at 15.8 trillion
- The world's biggest smartphone maker said it expected its operating profits to reach around 15.8 trillion won ($13.3 billion) in a regulatory filing, up 27.9 percent year-on-year
- The conglomerate's overall turnover is equivalent to a fifth of the country's gross domestic product
Business
Saudi Arabia-led consortium takes over Newcastle United
"Following the completion of the Premier League's Owners' and Directors' Test, the club has been sold to the consortium with...
- Earlier on April 9, 2020, the investment group, which also includes PCP Capital Partners and Reuben Brothers, made a bid for the north-east club
- This deal collapsed in July 2020 due to the Premier League's concerns over alleged Saudi broadcast piracy
Business
Utico lands Hassyan project deal
The MoU was signed at the WETEX and Dubai Solar Show.
- Utico and Siemens have signed an MoU for the engineering, supply, and services for an independent water project in Hassyan
- By capacity, this will be Siemens’ largest desalination plant project to date in Dubai
Business
Kuwait to tap parks, open spaces for investment
The Kuwaiti cabinet has instructed the Public Authority for Agricultural Affairs and Fish Resources to plan for this.
- The Kuwaiti cabinet has also ordered the parks authority to allocate plots for organizing entertainment activities and events
- These will happen in the agricultural areas of Al-Wafra in the south and Al-Abdali in the north
Business
Sheikh Maktoum says UAE enjoys high financial solvency, credit profile
The UAE continues to enjoy high financial solvency as well as a strong credit profile, minister of finance Sheikh Maktoum...
- Al Maktoum's statement comes as the Ministry of Finance confirms the issuance of a multi-trance bond offering.
- The new bond package, comprising of tranches of 10, 20 and 40 years, will be issued for a subscription.
Multiply Group acquires Backlite Media
The buyout is part of its plan to boost media business.
Business
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UAE leads world in mobile and omnichannel shopping
The UAE scored 134 on the Global Digital Shopping Index, exceeding the global average of 125, as 94% of adults...
Business
6 MNCs among new businesses attracted by Dubai Chamber in H1
Dubai, UAE - Dubai International Chamber attracted 56 businesses to the emirate during H1 2023, including six multinational corporations and...
Business
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Business
US trade deficit narrows in June on bigger imports pullback
Washington, United States - The US trade deficit narrowed in June on a bigger pullback in imports than exports, according to...
- The overall trade gap came in at $65.5 billion in June, down from a revised $68.3 billion figure in May, Commerce Department data showed.
- While stronger than expected consumer spending has helped to boost US trade, analysts have noted that this could weaken going forward.
Business
Norway to fine Meta $100,000 a day for flouting user data ban
Oslo, Norway - Norway's data protection agency said Tuesday it would start fining Facebook and Instagram owner Meta nearly $100,000 per...
- Norwegian watchdog Datatilsynet announced the ban on July 17 and originally said that Meta had until August 4 to take corrective measures.
- "Meta's behavioral advertising entails intrusive surveillance of its users, negatively impacting their right to data protection," Datatilsynet head Tobias Judin said.
Business
SoftBank Group Q1 loss $3bn
The investment giant was hit by a drop in the share prices of major holdings.
- The firm has made huge bets to find and grow hot new tech ventures around the world, but that has left its earnings vulnerable to market forces.
- The company suffered investment losses "due to declines in the share prices of Alibaba, Deutsche Telekom, and T-Mobile US.