Supply chain challenges hit Ramadan retail rush
Logistical adaptations, strategic planning, and forecasting essential for addressing the unique demands of increased consumption during Ramadan, says Aramex's Tarek...
Business
CI Capital 2023 revenue $134m
The firm’s performance was fueled by strong growth.
Business
Al Mahhar to list on QSE
Some 207mn shares will be on QSE through direct listing.
- Firms wanting to list in the QEVM category need to have at least 20 non-funding shareholders who own no less than 10% of the company's capital upon listing
- Upon listing the company's founders have permission to sell and trade no more than 30% of their shares, provided they retain 60% of their shares
Business
Apple to tie up with Broadcom for 5G telecom networks
The company will collaborate with US tech firm Broadcom in order to make "cutting edge" parts for wirelessly connecting to...
- Apple CEO Tim Cook said the company is "thrilled" to make commitments that harness the ingenuity and innovative spirit of American manufacturing
- The alliance will include designing and manufacturing sophisticated radio frequency components and other "cutting-edge wireless connectivity" parts in US
Business
Changing customer demand, other challenges keep GCC marketing and event industries in evolution mode
Challenges faced by the two industries include shifting preferences, increased competition, budget limitations, talent shortages and post-COVID-19 changes, says a...
- Challenges faced by the two industries include shifting preferences, increased competition, budget limitations, talent shortages and post-COVID-19 changes, says a UAE-based expert
- Brands and clients are seeking innovative, engaging events that provide tangible value as the future of events is likely to involve a mix of in-person, hybrid and virtual formats
Business
India’s largest jeweller participates in Kuwait gold and jewellery show
Kuwait: Tanishq from the House of Tata is showcasing its range of gold and diamond jewellery at the Gold and...
- An important platform for designers, global jewellery retailers, wholesalers, and suppliers, the highly regarded annual event attracts industry stalwarts
- Tanishq which is participating for the first time will exhibit a range of gold and diamond jewellery including the brand’s most popular collections
Business
Qatar Airways boss skeptical on aviation industry’s 2050 net zero target
DOHA, QATAR - Qatar Airways' chief executive on Tuesday doused hopes that the aviation industry can become carbon neutral by 2050,...
- Not enough sustainable aviation fuel is being produced, and technological hurdles remain to using hydrogen as a replacement.
- In 2021, the International Air Transport Association's member airlines committed to achieving net zero carbon emissions by 2050.
Business
Gazprom 2022 profit at US$15bn
With Europe off limits, Gazprom has turned toward Asia.
- Gazprom said, "Profit margins were impacted by an increase in tax payments in the second half of the year."
- Western sanctions have heavily impacted the company headed by Alexei Miller, a close ally of President Vladimir Putin.
Business
Meta sells Giphy at over $260m loss
Meta had purchased Giphy in May 2020 for $315 million.
- Shutterstock paid $53 million in cash for Giphy in a deal that came months after the divestment order by Britain's CMA.
- Since the UK left the European Union in 2020, the CMA has proven to be one of the toughest antitrust regulators of big tech companies.
Arts & Culture
Watch owned by China’s last emperor sells for $5m
Emperor Aisin-Gioro Puyi had brought the watch with him to a Soviet prison camp where he was brought after the...
- Emperor at the age of two in 1908, Puyi was immortalised by Bernardo Bertolucci's Oscar-winning film but left a mixed legacy.
- A Patek Philippe "Grandmaster Chime" sold for $31 million in 2019. It is said to be the most complex timepiece the luxury watchmaker has ever created, with 20 complications.
Geostrategy
UK Business Secretary to visit Gulf countries to boost trade ties
LONDON, UK - British Business and Trade Secretary Kemi Badenoch will hold talks for a modern, comprehensive trade deal as...
- British Business and Trade Secretary said, "We already have a strong trade and investment relationship with the Gulf nations."
- She said, "The GCC represents an enormous opportunity for UK firms, whether it’s selling brilliant British food and drink products."
Science
Humans must stay in control of AI, European trade union chief warns
BERLIN, GERMANY — No employee should be “subject to the will of a machine”, European trade union chief Esther Lynch...
- In the same way that EU treaties protect health and safety in the workplace, rules are needed to guarantee “the human-in-control principle” when it comes to AI, Lynch said.
- Lynch, general secretary of the European Trade Union Confederation since last December, will head the four-day ETUC Congress that kicks off in the German capital.
Supply chain challenges hit Ramadan retail rush
Logistical adaptations, strategic planning, and forecasting essential for addressing the unique demands of increased consumption during Ramadan, says Aramex's Tarek...
Business
Company News
EDGE signs MoU with MBRSC
Business
Solutions+, EIH sign MoU
Business
Latest News
ACC holds workshop in Jordan on dangers of human trafficking
AMMAN, JORDAN - Amman Chamber of Commerce (ACC), in cooperation with Ministry of Justice and Jordan Judicial Council (JJC), organized...
Geostrategy
Saudi EXIM Bank ink $51bn deal with Turkish firms
Riyadh, Saudi Arabia - Saudi EXIM Bank signed line of credit agreements worth $51 million with Türkiye Finans Katılım Bankası...
Business
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Geostrategy
Google agrees to settle $5bn data privacy breach lawsuit
Google has agreed to settle a consumer privacy lawsuit seeking at least $5 billion in damages over allegations it tracked...
- The lawsuit, filed in a California court, claimed Google's practices had infringed on users' privacy by "intentionally" deceiving them
- Lawyers for the plaintiffs were seeking at least $5,000 for each user it said had been tracked as they visited Google Analytics in private browsing mode
Business
Saudi’s Maaden announces discovery of new gold reserves
Riyadh, Saudi Arabia - Saudi Arabian Mining Company (Maaden) on Thursday announced a discovery of substantial gold reserves, marking a...
- The company's exploration program has led to discovery of a gold resource potential spanning across a 100-kilometer stretch from the existing Mansourah Massarah gold mine
- As of year-end 2023, Mansourah Massarah boasted nearly seven million ounces of stated gold resources and a nameplate production capacity of 250,000 ounces annually
Business
Huawei says expects higher revenue
The company is leading equipment manufacturer for 5G.
- Sanctions since 2019 have cut the firm off from access to US-made components and technologies, forcing it to diversify its growth sources
- In 2023, the group expected revenues of more than 700 billion yuan ($99.2 billion), Hu said - an increase of nearly nine percent from last year