Oil under $65 a boon for consumers, but a burden on producers
London, United Kingdom -- US President Donald Trump's tariffs, his call to "drill baby drill" and especially a decision by...
Business
Emaar to pay $2.39bn dividend
Business
Aramco acquires stake in BHIG
Business
ADNOC L&S okays $273m dividend
Business
Cross-border deals fuel M&A surge in MENA region in Q1 2025
Dubai, UAE -- The Middle East and North Africa (MENA) region has kicked off 2025 with a remarkable surge in...
Business
Rising threat: DDoS attacks demand proactive defense
"Threat actors can employ artificial intelligence (AI) and machine learning (ML) algorithms to identify vulnerabilities and adapt their tactics in...
- DDoS attacks have evolved from simple nuisances to highly sophisticated and coordinated assaults, posing a significant threat to online businesses
- Today's attackers use various techniques, including amplification attacks, which exploit internet protocol vulnerabilities to multiply attack traffic, making mitigation challenging
Business
Russia becomes world’s fourth-biggest LNG producer, says PM
MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year.The Russian Prime...
- Mikhail Mishustin said that the volume of LNG exports rose almost three-fold in six years.
- In January - February 2024, natural gas production in Russia increased by 11.3 percent year-on-year.
Business
EasyLease buys stake in United Trans
This helps EasyLease expand its presence in mobility sector.
- United Trans has been at the forefront of transforming the regional transport spectrum.
- The company collaborates with major global organizations across all modes of transport.
Business
flynas receives 50th jetliner out of 120 Airbus A320neo ordered
RIYADH, SAUDI ARABIA – flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the...
- The deal with Airbus was a strategic step for flynas, consolidating its position as a leading low-cost airline in the Middle East.
- The company is moving forward in its plan to double the fleet size after getting approval to purchase 250 aircraft.
Business
Iran-Turkey trade expands to US$930m in first two months of 2024
Tehran, Iran--The trade exchanges between Iran and Turkey in the first two months of 2024 reached $930 million, showing a...
- According to a report, Turkey’s exports to Iran in January and February reached $580 million, recording a 23 percent increase
- Turkey’s imports from Iran however registered a 22 percent decline and fell from $450m in January-February 2023 to $350m
Business
Central Bank of Bahrain Sukuk Al Ijara oversubscribed by 186 percent
Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al...
- As per reports, subscriptions worth $128.67 million were received for the $69.14 million issue, which carries maturity of 182 days
- The expected return on the issue, which begins on April 4 and matures on October 3, is 5.90%, equivalent to the previous issue
Business
Tesla reports drop in auto sales
The decline was in part due to a weak sales market in China.
- In explaining the drop, Tesla pointed to a hit from the production ramp-up of an updated Model 3 at its California factory and plant shutdowns due to shipping diversions
- Financial services firm Morningstar said the decline also "points to a slowdown in demand for Tesla's vehicles, as the company's competitors may have cut price more than Tesla
Business
FAB, Microsoft forge partnership
The two will work to develop AI-based banking capabilities.
- The new AI Innovation Hub will focus on innovation, sustainability, and customer experience
- It will accelerate the adoption of new innovations and AI technology into financial services
Google to delete incognito search data
The suit filed in June of 2020 sought US$5bn in damages.
- The lawsuit, filed in a California court in June 2020, claimed Google's practices had infringed on users' privacy by intentionally deceiving them with the incognito option
- The settlement calls for no cash damages to be paid but leaves an option for Chrome users who feel they were wronged to sue Google separately to get money
Business
ADQ launches new firm in healthcare sector
Arcera will aim to improve the quality of "human life."
- It will seek to build a global life sciences powerhouse set to make significant contributions to realizing Abu Dhabi’s 2030 Healthcare Life Sciences Vision
- With a workforce of over 6,500 people in 90 countries all over the world, Arcera aims to offer groundbreaking solutions that foster longer and healthier lives
Oil under $65 a boon for consumers, but a burden on producers
London, United Kingdom -- US President Donald Trump's tariffs, his call to "drill baby drill" and especially a decision by...
Business
Company News
Emaar to pay $2.39bn dividend
Business
Aramco acquires stake in BHIG
Business
ADNOC L&S okays $273m dividend
Business
Latest News
Saudi Arabia’s space economy reaches $8.7 billion in 2024
Riyadh, Saudi Arabia -- The Communications, Space, and Technology Commission (CST) has said that the Saudi space economy reached $8.7...
US exempts several consumer electronics from Trump’s import tariffs
Washington, United States -- The Trump administration has exempted a raft of consumer electronics from its punishing import tariffs --...
Business
EU to probe use of personal data by X’s AI chatbot
Ireland's data protection watchdog, acting on behalf of the European Union, launched an inquiry Friday into the use of personal...
Business
Most Read
Business
Tesla’s first Saudi showroom opens
The opening in Riyadh comes with Tesla sales dropping.
- Saudi Arabia is a key regional ally of Washington, and US President Donald Trump forged close ties during his first term with Crown Prince Mohammed bin Salman.
- However, demand for EVs is relatively low in Saudi Arabia, the world's largest oil exporter which enjoys bargain-basement fuel prices, with a liter costing just $0.62.
Geostrategy
European Union and UAE agree to launch trade deal negotiations
Emirati President Mohammed bin Zayed Al Nahyan "and I just decided to launch negotiations on an EU-UAE free trade agreement,"...
- Sheikh Zayed said that the CEPA would create new avenues for cooperation between the UAE and EU, increase trade and investment flows.
- The EU is the UAE’s second-largest trading partner, accounting for 8.3 percent of the UAE’s total non-oil trade, which hit $67.6 billion in 2024.
Business
Mubadala Energy enters US energy market
Acquires a 24.1% interest in US firm Kimmeridge’s SoTex
- Through SoTex, Kimmeridge is building America’s first integrated gas independent to deliver low-cost natural gas from wellhead to water.
- The deal bolsters Mubadala Energy's growth plans to invest across the gas value chain in key energy hubs around the world.