Indian airline IndiGo orders 30 Airbus A350 widebody planes
New Delhi, India -- Indian airline IndiGo said on Sunday it had signed an order for 30 more Airbus A350-900s,...
Business
Syria inks $7 bn energy deal with Qatari, Turkish, US firms
The agreement was sealed at the presidential palace in Damascus in the presence of interim President Ahmed al-Sharaa and US...
Business
Crypto-linked bank failures fuel regulation debate
Global finance was rocked by the collapse of Silicon Valley Bank last week, and the digital currency sector was hit...
- The global crypto market stands at more than $1 trillion and has risen sharply in recent months, although it remains far below its 2021 peak of $3 trillion
- Illicit transactions using cryptocurrencies more than doubled last year to almost $21 billion, according to specialist crypto firm Chainalysis
Microsoft adds ChatGPT technology to Excel, Outlook
The Redmond, Washington giant has been swiftly adopting language-based AI, showing less caution than its rivals despite early problems such...
- Microsoft’s latest chatbot, called Copilot, will put ChatGPT-like abilities to work in offices, churning out meeting transcripts, calendar entries or PowerPoint slides instantly
- Microsoft is pouring billions of dollars into OpenAI, the company that is building the technology that powers ChatGPT and that released its latest version, GPT-4, on Tuesday
Qatari delegation visits Man Utd as bidding war for Premier League club intensifies
The rival bidders, Qatari businessman Sheikh Jassim Bin Hamad Al Thani and British billionaire Jim Ratcliffe were invited to visit...
- Qatari businessman Sheikh Jassim Bin Hamad Al Thani and British billionaire Jim Ratcliffe, founder of the INEOS chemicals company, have made separate offers to buy United
- There will be another day of presentations and tours at United on Friday, with boyhood United fan Ratcliffe who will be joined by INEOS co-owners Andy Currie and John Reece
Economy
Conflict may get us before climate, warns Professor Rangan
A multi-plural world that embraces diversity and contradictions is crucial for peaceful coexistence free of conflicts, Prof Subramanian Rangan of...
- A multi-plural world that embraces diversity and contradictions is crucial for peaceful coexistence free of conflicts, Subramanian Rangan of INSEAD tells TRENDS in an interview
- Businesses need to revise their models to integrate income and impact, market and society, and humanity and nature. Also, education is key in using technology responsibly, he adds
Business
DIB declares 30% dividend
The bank’s net profit in 2022 surged 26 percent.
- The bank’s net profit in 2022 surged 26%, the highest ever in its history with a balance sheet of $78 billion, culminating in a five-year CAGR of 7%
- According to Moody's Investors Service's most recent assessment on the GCC banking industry, large GCC lenders are trying to consolidate their market share
Reforms help UAE, KSA lead M&A activities in MENA
Local deals account for 51% of total M&A volume with technology sector at 25% as improved market conditions and pro-business...
- Local deals account for 51% of total M&A volume with technology sector at 25% as improved market conditions and pro-business reforms boost investor confidence in the region
- Rise in oil prices over the past six years, pro-business legislative reforms, and relaxation of government travel restrictions were some other reasons behind strong M&A activities
Business
India’s Bharat Dynamics Limited picks EDGE’s GradeOne as partner
ABU DHABI, UAE - Bharat Dynamics Limited (BDL), a Defense Public Sector Undertaking under India's Ministry of Defense appointed EDGE's...
- Established in 2004, GradeOne specializes in defense trading and services and providing various solutions to the military and defense sectors
- It is part of the Trading & Mission Support cluster within EDGE, one of the world’s leading advanced technology groups.
Business
Saudi finance minister, National Bank head downplay risks to bank sector
"I think large banks are properly supervised and therefore the risk that some people see, I don't see," Finance Minister...
- "To me, the reaction of yesterday was possibly an overreaction simply because the market is very edgy," the minister told AFP in an interview.
- "It's panic, a little bit of panic. I believe completely unwarranted, whether it be for Credit Suisse or for the entire market," said Saudi National Bank chairman Ammar AlKhudairy.
Business
Qatar’s IPI up 3.5 percent in Jan, mining leads the growth
Doha, Qatar -- Qatar's Industrial Production Index (IPI) hit 103 points in Jan 2023, rising by 3.5 percent compared to...
- Issued by the Planning and Statistics Authority, the IPI is a short-term quantitative index that measures the growth of various industrial sectors in economy.
- The key performing sectors under the index were mining (82.46 percent), manufacturing (15.85 percent), electricity (1.16 percent) and water (0.53 percent).
Business
Deliveroo 2022 loss at $355m
The firm's revenue rose 14 percent to nearly US$2.4 billion.
- Deliveroo exited Australia and the Netherlands in 2022, after departing from Spain in 2021.
- The company expanded into Qatar last year as it pursues a growth plan of action in Middle East.
Indian airline IndiGo orders 30 Airbus A350 widebody planes
New Delhi, India -- Indian airline IndiGo said on Sunday it had signed an order for 30 more Airbus A350-900s,...
Business
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Disinformation, misinformation hurt global businesses
"These risks are serious because they limit our ability to tackle the big global challenges we are facing. Changes in...
Opinion
WTO hopes to finalize fishing agreement
GENEVA, SWITZERLAND - The head of the World Trade Organization's fisheries talks voiced optimism on Tuesday about striking an agreement on...
Geostrategy
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Business
Emirates to recruit 5,000 crew members in 2024
DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s. The airline...
- The airline is inviting fresh graduates with internships or part-time jobs on their résumés.
- It is inviting individuals keen to embark on an exciting career travelling the globe. .
Business
Nespresso faces $330 m lawsuit in Switzerland over capsules
Zurich, Switzerland - A French television star and a group of investors are demanding 280 million Swiss francs ($330 million) from...
- A French television show host Jacques Essebag, who goes by the name Arthur, is leading the suit against the Nestle subsidiary
- Nespresso, when contacted by AFP, acknowledged the lawsuit filed by ECC but said it did not comment on ongoing legal proceedings
Business
Counterfeit products cost Europe $13 billion, 200,000 jobs a year
Paris, France - Counterfeit products -- mainly clothes -- cost the European economy 16 billion euros a year and result in...
- The findings, based on data from 2018 to 2021, show that fakes take the biggest toll on the clothing sector, costing 12 billion euros ($13.1 billion) annually
- The bulk of the counterfeiting occurred in just five EU members, with Germany, France, Italy, Spain and Austria accounting for half the yearly losses