Business
Twitter lets star users make money from subscriptions
The move came as Twitter strives to be a preferred online venue for clickable stars and to boost its own...
- The move came as Twitter strives to be a preferred online venue for clickable stars and to boost its own income in ways that don't clutter the platform up with ads or promotions
- The company, which has more than 200 million active users, is looking for new ways to generate revenue without further more advertising
Research
UAE financial organisations under pressure to enhance security: Study
Banks and FSIs come under pressure from government, shareholders, employees and customers as security risks increase during the pandemic
- Banks and FSIs come under pressure from government, shareholders, employees and customers as security risks increase during the pandemic
- Citrix worked with OnePoll to survey 600 IT managers in the financial services and banking sectors in South Africa, Saudi Arabia and UAE
Business
Now website owners may apply for ‘.abudhabi’ domain names
Abu Dhabi’s Department of Government Support has announced ‘.abudhabi’ as the official internet TLD name for the emirate.
- The domain name is accessible to all citizens, residents, and employers working inside and outside the emirate
- More than 550 uniform resource locators or URLs have been registered to the ‘.abudhabi’ domain name to date
Business
Four major UAE banks post $4bn net profit in first half
The combined net profit of four major banks in the United Arab Emirates has vaulted to $4 billion in the...
- Moody's said the four banks combined net profit increased from last year, but returns on assets remains below pre-pandemic levels
- The four big banks account for 77 percent of UAE banking assets, Moody’s said
Business
Investcorp, Riverside sell Arrowhead Engineered Products
Investcorp, a Bahrain-based alternative investment management firm, and global private investor Riverside Co. have sold Arrowhead Engineered Products (AEP) to...
- Private equity firm Genstar acquired the replacement parts supplier
- The financial terms of the transaction were not disclosed
Business
Windows 11 rollout from October 5
Microsoft said the first rollout would upgrade Windows 10 PCs.
- The free upgrade for Windows 10 PCs will be phased and measured with a focus on quality
- Computers that come preloaded with Windows 11 will also become available for purchase from October 5
Business
Agthia to buy Dubai snack company
The group has endorsed the full acquisition of BMB Group.
- The deal would represent Agthia’s second investment in the snacking and healthy food market, following its acquisition of date company Al Foah earlier this year
- The value of the all-cash deal was not disclosed
Business
Google extends remote work option due to pandemic
Google campuses will remain voluntary globally through Jan 10. Local offices can decide when to ask employees to return to...
- Workers promised 30 days' notice before they would have to return to their offices.
- An extra day off in October and December granted as "reset days" to "rest and recharge."
Business
OptiNAND: WD’s new disk feature
Data retention, performance enhanced in the new architecture.
- OptiNAND offers customers a solution to meet the demand for storing vast amounts of data.
- A drive works smarter with enhanced firmware algorithms.
Economy
Lebanon crisis may fuel bread shortage
The Lebanese flour millers' association has said mills might gradually stop working as fuel supplies run out. This, when the...
- This is the latest casualty of fuel shortages in Lebanon, where hospitals have already warned that they are hanging on by a thread
- The overall shortage of power-generating fuel has resulted in protracted power cuts in the country, forcing medical facilities to run generators, which too need fuel to run
Company News
Alkhaleej Insurance posts profit
Business
Latest News
Aramco, 5 local firms to jointly work on project in Pakistan
ISLAMABAD, PAKISTAN - Five Pakistani state-owned companies are set to collaborate with Saudi Arabia’s Aramco to execute a $10 billion...
Business
Egypt calls for renewal of Black Sea grain export deal
MOSCOW, RUSSIA - Egypt's president on Friday called on Russia and Ukraine to find "urgent solutions" to allow the resumption of...
Geostrategy
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Business
ExxonMobil Q2 profits $7.9bn
Profits fell on lower refining margins, natural gas prices.
- Natural gas prices are down sharply from the year-ago period following a mild winter.
- The comparative weakness in refinery margins reflects sluggish economic conditions.
Business
Dubai records $2.88 billion in weeklong real estate transactions
Dubai, UAE -- A total of 3,252 real estate transactions worth over AED 10.6 billion ($2.88 billion) were conducted during...
- The DLD report showed that 319 plots were sold for AED 1.92 billion, while 2,137 apartments and villas were purchased for AED 5.75 billion.
- The total value of mortgaged properties for the week reached AED 2.53 billion. Meanwhile, 283 properties were granted between first-degree relatives worth AED 495 million.
Business
PIF sets up tourism firm Asfar
Firm Saudi Tourism Investment Company has been set up.
- The company will invest in new tourism projects and develop attractive destinations with hospitality, tourist attractions.
- The company will leverage Saudi Arabia’s unique strategic location between the three continents of Asia, Africa and Europe