G20 nations agree central bank independence ‘crucial’
The statement came after months of escalating attacks by US President Donald Trump on Federal Reserve boss Jerome Powell. The...
Geostrategy
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.
Business
Kingdom Holding Q1 net profit down 97%
The firm's net profit in Q1 2022 was $1.57bn versus $46m in Q1 23.
- The company said the fall in net profit was mainly because of one-off gains accrued in the first quarter of 2022 due to the sale of its stake in Four Seasons Holding.
- The drop was also attributed to decrease in share of results from equity-accounted investees, decrease in hotels and other operating revenues.
Geostrategy
SCCI discusses trade with Guatemalan, Indonesian delegations
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has discussed strengthening trade and economic ties with diplomatic...
- The discussions focused on amplifying bilateral relations in industry, agriculture, food security, livestock and broadening trade exchanges.
- SCCI invited Indonesian businessmen to visit Sharjah to see the progress on existing projects and experience the facilities the emirate offers.
Business
NDMC to invest $60m in ADNOC (L&S) IPO
The decision came a day after ADNOC raised the size of the offering.
- NDMC said doubling the investment in the IPO was part of its strategy to diversify its business and investments.
- ADNOC will now offer 1.40 billion ordinary shares, equivalent to 19 percent of the Company’s total issued share capital.
Company News
MODON launches 10 projects
Business
Latest News
Sharjah Chamber posts growth in membership in 2023
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has announced a series of significant achievements of the...
Business
BP posts US$15.2bn net annual profit
It will deliver US$1.75bn in buybacks for Q4 of last year.
Business
Most Read
Business
WEF24: Understanding regional nuances key to success
Industries are increasingly investing in transformative technologies, including cybersecurity, sustainable solutions and AI, Sapthagiri Chapalapalli tells TRENDS in an interview.
- Industries are increasingly investing in transformative technologies, including cybersecurity, sustainable solutions and AI, Sapthagiri Chapalapalli tells TRENDS.
- Proactive approach in building reference architectures and industry-specific AI use cases positions TCS as a leader in designing tomorrow's technology, he adds.
Business
Ghitha Holding buys stake in MNG Airlines
The acquisition of 44% stake is valued at US$211.20 million.
- The buying of stake in the airline is expected to mark a significant stride towards diversifying Ghitha Holding’s robust portfolio
- The Turkish airline offers specialized services including scheduled and block space charter, aircraft, crew, maintenance and insurance
Business
Abu Dhabi Airports appoints Elena Sorlini as Managing Director and CEO
Abu Dhabi, UAE - Abu Dhabi Airports, the operator of Abu Dhabi's five commercial airports, has announced the appointment of...
- Since joining Abu Dhabi Airports, Sorlini has overseen the successful opening of Abu Dhabi International Airport's new state-of-the-art Terminal A
- Additionally, she has played an important role in maintaining the steady increase of passenger traffic numbers, which continue to experience year-on-year growth