BBC launches US paid subscription to news website
London, United Kingdom - The BBC, Britain's public broadcaster that is struggling with strained finances, on Thursday launched a paid...
Business
Japan’s high-tech sunscreens tap into skincare craze
Tokyo, Japan -- When YouTuber Hannah Price set out to compare Japanese and Australian sunscreen, she wasn't expecting her deep...
Business
Business
Stc to buy assets in Europe
It will acquire a portfolio of towers in Europe for US$1.3bn.
- According to a statement, Tawal infrastructure, an arm of Saudi Telecom will pay cash for a host of more than 4,800 towers in Bulgaria, Croatia, and Slovenia
- A few media reports said that it was close to a deal to buy the assets from United Group, which is backed by buyout firm BC Partners
Business
Technology drives facility management growth in GCC
The sector is likely to grow at a CAGR of about 10% on the back of technology adoption, rising expenditures...
- The sector is likely to grow at a CAGR of about 10% on the back of tech adoption, rising expenditures in building industry, and flourishing tourism, says an expert
- Tech-driven dynamism in market leads to surge in computer-aided facility management and IoT adoption, highlights Sangeetha B, Founder & CEO of Amantra
Business
Bed Bath & Beyond files for bankruptcy
The firm was a regular on the Fortune 500 list of biggest American companies.
- The home goods chain filed voluntary petitions for relief under Chapter 11 at the United States Bankruptcy Court.
- The New Jersey-based retailer, sold everything from shower curtains and soaps to vacuum cleaners and duvet covers.
Business
HFZA showcases Sharjah as attractive investment destination at India Steel 2023
SHARJAH, UAE - India is among the UAE's most significant investment partners, with substantial mutual investments. Iron and steel rank...
- Iron and steel rank among the top commodities exported from the UAE to India.
- India is among UAE's most vital trade partners, with substantial mutual investments.
Economy
Collective action required for food security, says FAO
MIYAZAKI, JAPAN - With hunger levels rising and food prices soaring in most of the world, collective actions are necessary...
- Trade continues to be key for global food security and all nations must commit to well-functioning markets and transparency, FAO said.
- "We need to work together in an efficient, effective and coherent manner to identify the solutions," FAO added.
Economy
Up to $1.7 trillion investment needed for green aviation goals
To meet the estimated energy demand from hydrogen and electric aircraft in 2050 would require the amount of energy produced...
- Carbon-free propulsion options, such as battery and hydrogen-powered aircraft, are some of the options the aviation industry is pursuing.
- Airports, airlines and others will need to make heavy infrastructure investment to deliver the green hydrogen and electricity the aircraft will need.
Business
AI may help in machinery repair, labor crisis
The launch chatbot ChatGPT by the US firm OpenAI last year has resulted in an explosion of interest in uses...
- The potential for artificial intelligence in the manufacturing sector was in focus at Hanover Fair on industrial technology in Germany last week.
- In Europe's biggest economy, almost 58 percent of manufacturers complain of workforce shortages, according to a study.
Business
German public sector workers clinch 5.5 percent pay rise
The deal comes after several weeks of stalemate and repeated strikes among postal, transport and health workers demanding more money...
- From June 2023, a tax-free inflation compensation payment of 3,000 euros is to be paid in several instalments.
- Inflation in Germany stood at 7.4 percent in March, remaining high despite having fallen from a peak of 8.8 percent in October.
Twitter restores blue ticks for some media, celebrities
Many who unwillingly gained blue ticks made it clear that they had not subscribed, as the badge became a symbol...
- Non-paying accounts that had a blue tick lost it on Thursday, as owner Elon Musk implemented a strategy, dubbed Twitter Blue, to generate new revenue, announced last year
- On Friday and Saturday, a number of celebrities regained their blue ticks, seemingly without action on their part, including author Stephen King, Donald Trump
Economy
Investors hope for answers in UBS, Credit Suisse quarterly results
Credit Suisse pushed forward its result release to come out the day before those of UBS, as Switzerland's largest bank...
- According to data compiled by US financial services firm Morningstar, Credit Suisse saw around $5.1 billion withdrawn from funds during the month of March
- Analyst expected UBS on Tuesday to post a first quarter profit of nearly $1.7 billion, below the $2.1 billion it made during the same quarter a year ago
BBC launches US paid subscription to news website
London, United Kingdom - The BBC, Britain's public broadcaster that is struggling with strained finances, on Thursday launched a paid...
Business
Company News
ADCB, EIH sign agreement
Business
UAB concludes $200m term loan
Business
Latest News
Cisco identifies major AI trends for 2024
DUBAI, UAE – Developments in Artificial intelligence (AI) have been impacting businesses, governments and economies across the world. Advancements in...
Business
JADCO, EGG ink MoU on development of agriculture in Saudi Arabia
RIYADH, SAUDI ARABIA - The Ministry of Environment, Water and Agriculture witnessed the signing of a memorandum of understanding (MoU)...
Business
Dubai records weeklong real estate deals worth $3.86 billion
Dubai, UAE -- The real estate and properties transactions valued at AED 14.2 billion ($3.86 billion) in total during the...
Business
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Geostrategy
Apple to make changes to App Store in Europe
iPhone users can download alternative app stores.
- The changes expected to take place in March will curtail the dominance of the App Store
- The company said on Thursday the Digital Markets Act has created "privacy and security risks"
Business
Global Islamic finance market to touch US$4.9trn in 2025, says Malaysian official
Hong Kong-- The global Islamic finance market would touch US$4.9 trillion by 2025, according to Yazrin Syakhairi, Malaysian Trade Commissioner...
- The official said the Islamic finance market is seeing significant and rapid growth worldwide, surpassing the size of US$2.2 trillion in 2022
- He said the Islamic finance industry has seen a noticeable growth in the Middle East and the Association of Southeast Asian Nations (ASEAN)
Business
Alaska Airlines to take US$150m hit
It grounded the Boeing 737 MAX after in-flight safety episode.
- The airline's financial hit is the latest ripple effect from the episode, which prompted regulators to ground 171 MAX 9 planes
- With 65 planes affected by the grounding, Alaska Airlines expects to bring the jets back into service beginning Friday