Denmark’s Royal Unibrew adds AI colleagues into workforce
Fakse, Denmark -- They have names, faces and email addresses, but the five new colleagues at Denmark's Royal Unibrew only...
Business
US exempts several consumer electronics from Trump’s import tariffs
Washington, United States -- The Trump administration has exempted a raft of consumer electronics from its punishing import tariffs --...
Business
Business
JPACO reviews key agricultural projects, efforts in 2022
AMMAN, JORDAN - Board of Directors of the Amman-based Jordanian- Palestinian Agricultural Marketing Company (JPACO)) on Saturday reviewed its key...
- JPACO's Board of Directors also examined the company's performance and its goals and discussed its action plan for 2023.
- JPACO General Manager, Aladdin Abu Khair, said the company worked to open new international markets.
Economy
US Fed’s preferred inflation gauge eases in November
A key indicator of US inflation edged down from a year ago in November, according to government data, in welcome...
- The US Federal Reserve's preferred inflation measure, the personal consumption expenditures price index, rose 5.5 percent last month.
- This was slightly below October's level but remains significantly higher than policymakers' target of two percent inflation.
Business
Ajman Chamber keen to strengthen trade, economic ties with Pakistan
Ajman, UAE--Abdullah Al Muwaiji, Chairman of the Board of Directors of Ajman Chamber of Commerce and Industry (ACCI), has affirmed...
- The total trade between the UAE and Pakistan reached AED19.7 billion in 2021, with a growth rate of 23 percent compared to 2020.
- The growth rate of trade volume between Ajman and Pakistan reached 30 percent during the last five years.
Geostrategy
Iraq tells visiting Italy PM it seeks closer economic ties
Iraq's prime minister appealed to visiting Italian counterpart Giorgia Meloni for closer economic ties with his oil-rich country suffering from...
- Italian oil firm Eni has been involved in exploration and production in Iraq for over a decade.
- The United Nations says Iraq is one of five countries most exposed to some impacts of climate change.
Business
SALIC completes acquisition of Olam
SALIC had signed the acquisition pact in March.
- SALIC is wholly owned by the Saudi sovereign wealth fund, the Public Investment Fund.
- Olam is present in more than 30 countries around the world and has the capacity to handle more than 40 million tons of food commodities annually.
Business
FAB, Magnati, PayRow join hands
The move will help Dubai in becoming a cashless economy.
- Government entities and merchants will now be able to receive payments from their customers in an easy, flexible, unified and secure manner.
- The new payment ecosystem is set to transform the existing gateway.
Business
Nearly 78% UAE women-owned businesses led by females under age 40
Sharjah, UAE--- A Women under the age of 40 lead 77.6 percent of the women-owned businesses in the UAE, a...
- The survey found that of the 1,000 female business owners who took part in the survey, 48.8 percent are CEOs and 61.4 percent sole proprietors.
- A total of 25,000 Emirati women entrepreneurs owned 50,000 trade licenses valued at AED 60 billion ($16.33 billion) in 2021.
Business
Facebook agrees to pay $725m to settle privacy suit
Facebook parent Meta has agreed to pay $725 million to settle a long-running lawsuit that accused the social network of...
- The settlement must be approved by a judge in the San Francisco division in the US District Court.
- The lawsuit was initiated in 2018, when Facebook users accused the social network of violating privacy rules by sharing their data with third parties.
Economy
Two years after EU exit, UK business feels Brexit blues
Complicating matters has been the loss of EU workers in sectors such as health, hospitality and agriculture, even if some...
- The problem is not the customs duties, largely eliminated by the post-Brexit free trade agreement between London and Brussels
- The government of Prime Minister Rishi Sunak has said it believes the UK economy has entered a recession on fallout from sky-high inflation
Business
China’s ByteDance admits using TikTok data to track journalists
Employees had obtained the IP addresses of the journalists in a bid to determine whether they were in the same...
- ByteDance told on Friday that several staffers accessed two journalists' data as part of an internal probe into leaks of company information to the media
- TikTok has come under the spotlight in US, with Congress poised to approve a nationwide ban on using the wildly popular short-video app on government devices
Denmark’s Royal Unibrew adds AI colleagues into workforce
Fakse, Denmark -- They have names, faces and email addresses, but the five new colleagues at Denmark's Royal Unibrew only...
Business
Company News
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UAE stocks generate over US$272m cash flows on Monday
Abu Dhabi, UAE--UAE stocks generated strong cash flows Monday, with market liquidity surpassing $272 million. International Holding Company (IHC) and...
Business
KPMG’s global revenue touches $36bn
The company has outlined a collective investment of $4.2b.
Business
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Business
Institutional investors purchase $1.9bn in UAE stocks during 2023
Abu Dhabi, UAE -- Institutional investors boosted their acquisition of domestic stocks in 2023, purchasing nearly AED 7 billion ($1.9...
- This figure reflects a total purchase of AED 302.7 billion compared to total sales of approximately AED 295.8 billion.
- Institutional investors dominated the UAE equity market in 2023, capturing nearly 78 percent of total trading activity.
Economy
ADDED, Siemens Energy to support sustainable industrial development in Emirate
ABU DHABI, UAE - Abu Dhabi Department of Economic Development (ADDED), represented by Industrial Development Bureau (IDB), and Siemens Energy...
- The collaboration supports Abu Dhabi Industrial Strategy's vision to establish the Emirate as the most competitive industrial hub in the region.
- Siemens Energy will support IDB to localize the manufacturing capabilities in Abu Dhabi and provide technological solutions.
Business
Decree issued to form Board of Dubai Corporation for Ambulance Services
Dubai, UAE -- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum Monday issued a decree for the formation of the...
- The Assistant Commander-in-Chief for Excellence and Pioneering Affairs of Dubai Police will serve as the Vice Chairman of the Board.
- These representatives will be named by the respective heads of these entities. The Board also includes the CEO of Dubai Corporation for Ambulance Services.