Google has illegal monopoly in ad tech, US judge rules
Washington, United States - A US judge on Thursday ruled that Google illegally wielded monopoly power in the online ad...
Business
Nvidia expects $5.5 bn hit as US targets chips sent to China
Nvidia on Tuesday notified regulators that it expects a $5.5 billion hit this quarter due to a new US licensing...
Business
Tesla’s 2022 deliveries disappointing
The company supplied 1.31m EVs last year.
- The Elon Musk-led company has set a long-term goal of increasing its deliveries by 50 percent a year on average
- Production was suspended at its Shanghai plant for several weeks during last year due to Covid restrictions
Business
Agthia appoints new CFO
Sherif Elfaham stepped into the new role on January 1, 2023.
- At Unilever, Sherif held various key senior roles in financial planning and analysis, supply chain optimisation, marketing transformation, and business unit regeneration
- He holds a master’s degree in financial strategy from Oxford University and is a Certified Management Accountant (CMA)
Business
Over a cuppa of coffee: Global, regional beverage brands to gather in Dubai
The Middle East and Africa coffee market is projected to grow at a CAGR of 7.5 percent between 2022 and...
- The Middle East and Africa coffee market is projected to grow at a CAGR of 7.5 percent between 2022 and 2027
- The UAE market is expected to grow at a CAGR of 8.3 percent between between 2021 and 2027
Business
Electric vehicles form 80% of new car sales in Norway
Electric vehicles in the Scandinavian country now account for almost four out of every five new car registrations, setting a...
- Norway, which is both a major producer of oil and gas, as well as a pioneer for zero-emission cars, comfortably beat the previous record of 64.5 percent set in 2021
- The country aims for all  new cars to be "zero emission" -- in other words, electric and hydrogen -- by 2025.
Business
Why did Iran stop importing rice, tea from India?Â
Speculations are rife that the decision by Tehran could have been taken in retaliation to India's suspension of the import...
- Iran has several alternatives for importing tea. Kenya has been selling India tea for nearly half the rate of Indian tea
- In terms of numbers, Iran’s rice imports in Apr-Sept 2022 stood at $641.66m, while tea imports in the Jan-Sept period stood at $66.39m
Economy
Transport employees in Tunisia stop work citing late salary
TUNIS, TUNISIA - Tram and bus workers in the Tunisian capital staged a strike over delays in salaries and the lack...
- The strike is the latest in a string of similar actions as Tunisia grapples with a grinding economic crisis
- The North African nation is struggling with debts of more than 100 percent of gross domestic product
Business
Regional maritime sector event to be held in the UAE
DUBAI, UAE - Seatrade Maritime Logistics Middle East (SMLME) is set to take place from May 16 to 18 2023,...
- The region’s maritime sector will come together and discuss a wide range of topics concerning the industry's future.
- The event’s relevance to the sector and its potential impact on the region’s economy has helped it gain the support of major industry players.
Science
Abu Dhabi introduces Mobile BSL-3 Laboratory
ABU DHABI, UAE - Abu Dhabi Public Health Center (ADPHC) has introduced the first of its kind mobile BSL-3 (Biosafety...
- The BSL-3 mobile laboratory will enhance the UAE capital's infectious disease preparedness through swift, safe and accurate testing of communicable diseases.
- The mobile laboratory will be accessible across four sites in Abu Dhabi.
YEARBOOK 2023
Dubai leads Gulf region in integrating metaverse into economy, society; eyes faster GDP growth, more jobs
Through Dubai Metaverse Strategy, the emirate looks to create 40,000 virtual jobs and add $4 billion to the economy over...
- Dubai aims to attract more than 1,000 companies in the blockchain and metaverse fields, creating 40,000 virtual jobs, say experts
- The metaverse will continue to evolve and expand over the next few years and become an increasingly important part of our daily lives, they add
Economy
Over 2m riders used public, shared transport during New Year’s Eve in Dubai
DUBAI, UAE - Dubai’s Roads and Transport Authority (RTA) confirmed that 2,166,821 riders used its public transport, shared mobility means...
- The figure reflects a 33 percent rise from last year’s number, which was 1,632,552 riders.
- The breakdown of ridership for metro and tram were: Metro: 958,161 riders (compared to 640,175 last year), Tram: 49,855 riders (34,672 last year).
Google has illegal monopoly in ad tech, US judge rules
Washington, United States - A US judge on Thursday ruled that Google illegally wielded monopoly power in the online ad...
Business
Company News
stc, Microsoft to collaborate
Business
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ACWA Power 9M net profit up 22%
Business
SABIC 9M net loss $277m
Business
India’s L&T secures EPC contract for Saudi Arabia’s Amaala project
New Delhi, India - Larsen & Toubro (L&T) secured a major Engineering, Procurement, and Construction (EPC) contract for the Amaala...
Business
Apple to appeal US watch ban
The company contends that the ITC finding was in error.
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Business
UAE insurance sector witnessed expansion in 2022: CBUAE
Abu Dhabi, UAE--The insurance sector in the UAE witnessed growth and expansion across various key indicators during 2022, according to...
- The growth in the insurance sector is expected to shore up the market's liquidity and make it more resistant to any future downturns
- According to the CBUAE report, the number of direct premiums written expanded by 11.2 percent year-on-year to 9.8 million in 2022
YEARENDER
IPOs, investments help GCC markets prosper in 2023
Regional markets are reflecting a transition from oil dependency to diversified economies with six IPOs raising $419 million in in...
- Regional markets are reflecting a transition from oil dependency to diversified economies with six IPOs raising $419 million in in Q3 2023, led by Saudi Arabia and Qatar.
- The change is part of a broader strategy, including Dubai Taxi Company's IPO and Saudi Arabia's Vision 2030 initiatives, signaling a new era in the GCC's economic narrative.
Economy
Oman year-on-year growth rate touches 15.4 percent
Muscat, Oman - Oman's achieved a 15.4% year-on-year sector growth, as reported by the National Center for Statistics and Information...
- The growth revolves around a rapidly evolving landscape, propelled by strategic investments and diversification endeavors.
- Omani Maritime freight was at the forefront, commanding a significant 54.8% share of all inbound goods in 2022.