Buraidah date carnival boosts Saudi tourism and economy
Buraidah, Saudi Arabia -- The Buraidah Date Carnival witnessed growing economic and tourism activity, making it a key destination for...
Business
Turkish Airlines says offer to buy stake in Spain’s Air Europa accepted
Turkish Airlines on Tuesday said Air Europa had accepted its 300-million-euro ($350 million) offer to purchase a minority stake in...
Business
Economy
‘Greenhouse gas emissions from agriculture likely to rise by 7.5% in next decade’
PARIS, FRANCE - Greenhouse gas emissions from agriculture are expected to increase by 7.5 percent in the next decade, said...
- Projected greenhouse gas emissions are less than half the projected output growth.
- This output indicates a significant fall in the carbon intensity of agricultural production.
Economy
At G20 meeting, UAE urges world to collaborate in scientific research
Mumbai, India--The UAE’s Minister of State for Public Education and Advanced Technology Sarah Al Amiri has urged the global community...
- Al Amiri made the remark during her address to ministers at the G20 Research and Innovation Initiative Gathering (RIIG) in Mumbai
- She said that the UAE will invest some $160 billion in the next 30 years to further develop and deploy green innovations
Economy
DEWA exhorts customers to adhere to its safety standards
Dubai, UAE--Dubai Electricity and Water Authority (DEWA) has exhorted community members to ensure that safety standards are always in place...
- To improve the efficiency of electricity and water consumption in the emirate, DEWA has ruged customers to follow its tips and guidelines
- Customers should switch off lights, use a timer for any floodlights in gardens and fences and shut off the water supply, recommends DEWA
Business
Saudia raises seat capacity by 10%
The number of domestic, international flights will rise.
- This would be a 10 percent increase in the number of seats on a year-on-year (YoY) basis, the airlines said in a statement.
- Saudi Arabian Airlines said that more than 4.2 million seats would be added to international flights.
Business
Dubai records $3.70 billion in weeklong real estate transactions
Dubai, UAE -- A total of 3,244 real estate transactions worth over AED 13.6 billion ($3.70 billion) were conducted during...
- The DLD report showed that 323 plots were sold for AED 3.33 billion, while 2,237 apartments and villas were purchased for AED 5.37 billion.
- A total of 196 properties were granted between first-degree relatives worth AED 2 billion.
Market Report
Asian markets decline as US data spark interest rate fears
Asian stocks tumbled again after another round of strong US data reinforced expectations the Federal Reserve will resume its interest...
- Minutes from the Federal Reserve's last meeting showed officials plan to ramp up borrowing costs again this month.
- Equity-buying sentiment was hammered again by news that US private firms created twice as many jobs as expected in June.
Geostrategy
Facebook hands US users controls over fact-checked content
For years, Facebook's algorithm automatically moved posts lower in the feed if they were flagged by one of the platform's...
- Fact-checked posts can be made less visible with an option called "reduce more", which means the posts "may be moved even lower in feed so you may not see them at all".
- Another option labeled "don't reduce" triggers the opposite effect, moving more of this content higher in their feed, making it more likely to be seen.
Geostrategy
Kuwait has third largest millionaire population in world
Dubai, UAE -- Kuwait ranked third and Qatar 22nd on the list -- prepared by the World of Statistics --...
- About 15 percent of Kuwaitis were millionaires, after Hong Kong's 15.3 percent and Switzerland, which had the highest number of millionaires (15.5 percent) in the world.
- According to the World Wealth Report 2022, the average net worth of a millionaire in Kuwait is $2.9 million.
Samsung Q2 profit may drop 95%
Global glut of semiconductors hurts company's core memory sector.
- The tech giant Samsung Electronics said in a regulatory filing that April-June operating profits were expected to drop 95.7 percent to 600 billion won ($458 million)
- The announcement comes as securing supplies of advanced chips has become a crucial issue internationally, with US and China locked in a fierce battle to control the market
Hours after Threads takes off, Elon Musk threatens lawsuit
Threads is the biggest challenger yet to Musk-owned Twitter, which has seen a series of potential competitors emerge but not...
- In a letter to Zuckerberg, Musk lawyer accused the company of "unlawful misappropriation of Twitter's trade secrets and other intellectual property."
- Meta is accused of hiring former Twitter staff who 'had and continue to have access to Twitter's trade secrets and other highly confidential information'
Buraidah date carnival boosts Saudi tourism and economy
Buraidah, Saudi Arabia -- The Buraidah Date Carnival witnessed growing economic and tourism activity, making it a key destination for...
Business
Company News
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Qatar to ramp up gas output with new mega field expansion
At the start of this month, Qatar said it would supply 7.5 million tonnes of LNG per year for 20 years...
Economy
Saudi Arabia announces major gas discovery in Jafurah
Riyadh, Saudi Arabia--Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz revealed on Sunday that an additional 15 trillion...
Economy
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Ratcliffe unveils electric Ineos car
Jim Ratcliffe is the co-owner of the Manchester United.
- Ratcliffe, 71, earlier this week completed a deal to become co-owner of Manchester United, with a pledge to drive the English football giants to renewed success
- On Friday, Jim Ratcliffe noted that a desire by subsidiary Ineos Automotive to produce zero-carbon cars was hampered by how far they could travel without a recharge
Bosch to cut 3,500 jobs
The company is reducing costs to safeguard competitiveness,
- The global jobs cull would affect "indirect" workers, BSH added, referring mainly to administrative positions
- BSH which employs around 60,000 people globally, said 1,000 jobs will be cut this year already
Business
Chip giant TSMC shifts to Japan
The company produces half the world's chips.
- Taiwan Semiconductor Manufacturing Company, which counts Apple and Nvidia as clients, produces half the world's chips
- But TSMC's customers concerned about supplies of semiconductors want the firm to make more chips away from the self-ruled island