Boeing lifts wage hike to 30%
The 30% general wage hike improves upon the 25% in the earlier offer.
Business
Apple in talks to invest in OpenAI, creator of ChatGPT: report
Washington, United States - iPhone juggernaut Apple is in talks to invest in OpenAI, the creator of ChatGPT and the biggest...
Business
YouTube TV wins right to broadcast NFL games starting in 2023
YouTube TV subscribers, who now pay $64.99 a month for a viewing package, will have to pay an added fee...
- Google will pay around $2 billion a year over seven years, US media reported, for the right to broadcast Sunday games on its subscription YouTube TV service
- NFL's YouTube channel currently has more than 10 million subscribers, who regularly watch short videos showing high points from one of the world's most powerful sports
YEARBOOK 2023
Consulting business to boom in UAE, KSA in 2023
High growth rates in the UAE and Saudi Arabia economies are positive indicators for consultancies, says Vijay Valecha, Chief Investment...
- Saudi Arabia’s consulting market, rose 18.8 percent in 2021, recording the fastest growth in the region
- In the United Arab Emirates, the region’s second-largest market, consulting grew 16.6 percent
YEARBOOK 2023
Middle East witnesses increase in green M&As in 2022
With 283 deals worth $23.8 billion in the first three quarters of 2022, the region’s M&A activity has returned to...
- With 283 deals worth $23.8 billion in the first three quarters of 2022, the region’s M&A activity has returned to pre-pandemic levels, a BCG report has highlighted
- As the focus shifts to environmental considerations, green M&A deals across the region increased from 5 percent in 2020 to 10.3 percent in 2021, the report added
Economy
Turkey raises yearly minimum wage for third time as inflation jumps
Turkey's latest economic crisis started when Erdogan -- a lifelong opponent of high interest rates -- pressured the central bank...
- Erdogan relied on support from the working classes to rise to power nearly two decades ago, and will need it again to secure re-election.
- On Thursday the Turkish leader said the country would boost the monthly take-home pay to a minimum of 8,500 liras ($455).
Business
BHP to face trial in UK
The firm must stand trial to face US$12 billion damages claim
- More than 400,000 claimants could eventually join the compensation claim against the Australian company in London's High Court.
- The 2015 tragedy unfolded after the dam in Brazil's Minas Gerais region ruptured.
Business
GCC’s digital economy forging ahead rapidly, says Oman IT minister
Muscat, Oman - Saeed bin Hamoud Al Maawali, Omani Minister of Transport, Communications and Information Technology, has said that the...
- He stressed the importance of promoting cooperation between the GCC and its international partners to increase the pace of digital transformation.
- He also noted the need to enhance the cooperation between the UAE and Oman in developing the digital economy infrastructure.
France fines Microsoft 60 million euros over advertising cookies
The French regulator said that after investigations it found that "when users visited this site, cookies were deposited on their...
- CNIL said Microsoft's search engine Bing had not set up a system allowing users to refuse cookies as simply as accepting them
- Google and Facebook were sanctioned by French regulator with fines of 150 million and 60 million euros respectively for their use of cookies
Economy
UAE launches corporate tax public awareness program
ABU DHABI, UAE - UAE's Ministry of Finance (MoF) has launched a Corporate Tax Public Awareness Program following the issuance...
- The program has been designed to raise awareness of the UAE corporate tax law among the largest audience possible.
- While the sessions are open to the public, the primary target audience includes business leaders from all sectors.
Business
New CBUAE money laundering, terror financing guidelines for insurance sector
Abu Dhabi, UAE---The Central Bank of the UAE (CBUAE) has issued a new guidance on anti-money laundering and combatting the...
- Insurance operators are required to perform, document, and keep up to date an enterprise risk assessment.
- They should maintain transaction monitoring systems equipped to identify patterns of activity that appear unusual and potentially suspicious.
Economy
DEWA launches construction work of Hatta Sustainable Waterfalls project
DUBAI, UAE - MD & CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer has launched the...
- The Hatta Sustainable Waterfalls project is unique for its innovative architectural idea.
- The Hatta Sustainable Waterfalls project will use the slope of the upper dam of Hatta plant to create a natural waterfall.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Boeing lifts wage hike to 30%
The 30% general wage hike improves upon the 25% in the earlier offer.
Business
Company News
EasyLease Q3 revenue $57.66m
Business
Mawani, SGP ink US$266m pact
Business
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Volkswagen revenue up
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Doha Forum debates advantages in Gulf-Europe green ties
Doha, Qatar-- Oil and gas producers in the Middle East are assessing "challenges and opportunities" available for their economies to...
Economy
COP28 focused on achieving balanced package in negotiations: Majid Al Suwaidi
Dubai, UAE-- The COP28 Presidency is focused on achieving a balanced package in the negotiations, according to Ambassador Majid Al...
COP28 UAE
Most Read
Business
NDMC secures syndicated international loan worth $11bn
Riyadh, Saudi Arabia -- The National Debt Management Center (NDMC) completed the arrangement of a syndicated international loan worth $11...
- A total of 14 international financial institutions from Asia, the Middle East, Europe, and the US participated in the 10-year loan.
- The success of this loan arrangement proves the Kingdom’s proactive trends to provide financing resources that achieve economic growth and diversification, NDMC said.
Business
NEOM launches ‘Topian’ to ensure climate-proof agriculture in Saudi
NEOM, Saudi Arabia: NEOM, a mega-city project in Saudi Arabia characterized by futuristic urban planning and advanced technologies, Sunday announced the...
- Topian has been launched with the support of the Saudi Ministry of Environment, Water and Agriculture (MEWA).
- Topian has signed numerous local and international strategic partnership agreements with organizations that share Topian’s commitment to reshaping the future of food.
COP28 UAE
ENEC signs MoU with Egypt
They will explore to advance the use of nuclear energy.
- The UAE's nuclear body is focused on strategic investments, research and development, and innovative approaches to cater to the need for clean energy sources
- It is cooperating with local stakeholders to determine deployment pathways, and with international partners for both technology and project collaboration opportunities