Durov: Father of 100 children is a mysterious and controversial Telegram founder
Paris, France - Russian-born tech entrepreneur Pavel Durov has founded wildly popular social networks, cryptocurrencies, amassed a multi-billion-dollar fortune and locked...
Business
Telegram chief Pavel Durov arrested at French airport: officials
Paris, France - French police arrested Telegram chief executive Pavel Durov on Saturday at an airport near Paris for alleged offences...
Business
Geostrategy
EU eyes all acceptable energy price cap as winter arrives
Several EU countries, including France, Poland and Spain, want a price cap lower than the one proposed by the European...
- The continent has entered a bitingly cold winter with fewer energy options because Russia has reduced gas supplies in retaliation for EU sanctions.
- Gas prices are high, albeit lower than during the middle of the year, spurring worries that European homes and businesses could face blackouts.
Business
Bank of China lists $300m bonds
The bank's Fitch A ratings bonds were listed on Nasdaq Dubai.
- The new listing highlights Nasdaq Dubai's significant role in strengthening links between the capital markets in Dubai and China.
- Bank of China's Dubai branch has issued the 2025-maturing bonds at a yield of 4.84 percent.
Economy
UAE Financial Restructuring Committee, World Bank discuss bankruptcy law
ABU DHABI, UAE - Members of the Consultative Council of UAE's Financial Restructuring Committee (FRC) has met with experts from...
- The meeting was held virtually and sought to discuss the latest updates on amendments to the bankruptcy law.
- The meeting discussed the proposed amendments to the bankruptcy law in terms of public policy.
Business
BEEAH inks three-way pact
The three firms will produce fuel cell grade hydrogen from waste.
- The three firms will form a consortium that will advance progress on the Middle East’s first waste to hydrogen plant, located in Sharjah.
- The plans for the plant include an on-site green hydrogen dispensing station capable of fuelling several vehicles.
Business
Saudi PIF acquires 9.5% stake in offshore wind energy developer Skyborn
Dubai---Saudi Arabia's sovereign wealth fund, the Public Investment Fund, had acquired a 9.5 percent stake in Skyborn Renewables, an offshore...
- PIF said it is investing in Skyborn alongside Global Infrastructure Partners, , a US-based infrastructure investment fund.
- The Skyborn, which is based in Bremen, Germany, has a presence in 15 European and Asia Pacific markets.
Geostrategy
Rotterdam port ‘drowning in cocaine’ as gangs become stealthier
A record of nearly 70 tons of the drug was intercepted in 2021, up 74 percent from a year before,...
- The cocaine is usually hidden in containers, or sometimes underneath ships in openings below the water line where they are then recovered by divers.
- Rotterdam mayor Ahmed Aboutaleb has deplored the fact that the port city is "drowning in cocaine", and condemns the violence that accompanies the drug trade.
Business
Dubai races ahead to be global epicenter for crypto
While the crypto ecosystem still reels from the collapse of FTX, and investor apprehension about the future of the digital...
- The UAE is the third largest cryptocurrency market in the Middle East, behind Turkey and Lebanon, with a transaction volume of roughly $26 billion
- The emirate demonstrated its willingness with VARA to be the first country to have the regulation to oversee the crypto sector rather than curbing it
Business
Saudi communications ministry inks MoU with Huawei
Under the terms of the agreement, the Ministry and Huawei will collaborate to realize a '10Gbps Society', to build a...
- Under the terms of the agreement, the Ministry and Huawei will collaborate to realize a '10Gbps Society', to build a superfast broadband infrastructure
- Huawei will work with the Ministry to support digital entrepreneurs working on smart cities, IoT, AI, gaming, fintech, e-commerce, and blockchain projects
Business
Musk relaunches Twitter Blue after fake account fiasco
The first try last month came just 10 days after Musk's $44 billion takeover of the platform and a mass...
- The initial rollout of Twitter Blue caused an uproar when many fake accounts popped up pretending to be celebrities or companies
- The relaunch of Twitter Blue in a handful of countries including the US comes as the Tesla and SpaceX owner has stepped up his tweets endorsing right-wing causes
Economy
Dubai International Chamber launches three new offices in Cairo, Tel Aviv, Istanbul
The formal inauguration of the representative office in Tel Aviv will take place in the Israeli capital on December 13.
- The formal inauguration of the representative office in Tel Aviv will take place in the Israeli capital on December 13
- International offices have a dual mission of supporting and guiding Dubai companies through every stage of their global expansion
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Durov: Father of 100 children is a mysterious and controversial Telegram founder
Paris, France - Russian-born tech entrepreneur Pavel Durov has founded wildly popular social networks, cryptocurrencies, amassed a multi-billion-dollar fortune and locked...
Business
Company News
Latest News
Real estate deals in Bahrain decline marginally in third quarter: CBRE
Manama, Bahrain - Real estate transactions in Bahrain recorded a marginal 2.5 percent decline in Q3 2023, totaling 5,145 compared to the...
99 percent of world live in areas with air pollution levels above WHO guideline limits
DUBAI, UAE - According to World Health Organization data, 99 percent of the world’s population lives in places where air...
Business
Iran-Russia trade surges 18 percent to US$1.7 billion in 2023
Tehran, Iran--Trade between Iran and Russia has climbed 18 percent to US$1.7 billion in the first eight months of 2023....
Business
Most Read
COP28 UAE
Egypt to sign agreement on curbing methane emissions
Abu Dhabi, UAE--Egyptian Petroleum Minister Tarek el Molla announced an agreement on laying down a detailed road map for cutting...
- The agreement as per media reports will be signed by the the United States Trade and Development Agency (USTDA) within the framework of the COP28
- The minister said that Egypt supported green hydrogen projects in order to promote North African country's drive to become a green hydrogen regional center
Economy
Saudi Arabia offers 30-year tax cut to businesses shifting hqrs to kingdom
Riyadh, Saudi Arabia - Saudi Arabia has rolled out a 30-year tax relief program aiming to lure multinational corporations to...
- Under the Regional Headquarters (RHQ) Program, participating companies will benefit from substantial tax incentives, including a zero percent rate on corporate income tax
- The RHQ Program, launched initially in 2021, has already licensed over 200 companies to operate their regional headquarters from Saudi Arabia
Business
Masdar eyes Europe for growth
It wants to build a supply chain between UAE and Amsterdam.
- It signed an agreement to explore the development of a green hydrogen supply chain between Abu Dhabi and Amsterdam to support Dutch and European markets
- The green fuel is generated with green electricity from renewables like wind or solar, in a process that separates water into oxygen and hydrogen via electrolysis