Apple makes changes to App Store after EU warning
From the autumn, Apple said developers in the EU "can communicate and promote offers for purchases" wherever they want, for...
Business
World’s richest 1% gained $40 trn in a decade: Oxfam
Paris, France - The world's richest one percent increased their fortunes by a total of $42 trillion over the past decade,...
Business
Geostrategy
Supporting India’s G20 presidency is a priority for UAE, says Minister
The UAE's Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan has said that the Gulf...
- The UAE will work towards a world where human progress is an inalienable right for all.
- The UAE views the G20 as a forum that plays a critical role in multilateral efforts.
Economy
UAE 51st National Day: Central Bank launches new 1000 dirham note
Abu Dhabi, UAE---The Central Bank of the UAE launched an AED-1000 denomination note as part of the country's 51st anniversary...
- Made of polymer and using innovative designs and advanced security features, the note is the fourth in the Third Issuance of the National Currency Project.
- The new banknote will be available in Central Bank branches and ATMs in the first half of 2023.
Business
Jazeera Airways expands to Tajikistan
A direct flight from Kuwait to Dushanbe will be operated.
- The route launches on December 29 and will be operated on Thursdays and Saturdays. Flights land at the Dushanbe International Airport.
- The new route that connects pilgrims to Saudi Arabia besides offering a new travel destination for nature and adventurous culture seekers.
Business
TotalEnergies cuts UK investment
Move comes UK imposes windfall tax on energy firms.
- Total will cut its North Sea investment by US$123 million in 2023 over windfall tax.
- The move of windfall tax in last month's budget was aimed at helping fund support for British consumers hit by rocketing energy bills.
Geostrategy
EU gives US$131 million to WHO Universal Health Coverage Partnership
GENEVA, SWITZERLAND - The World Health Organization (WHO) and the European Commission agreed on reinforcing a decade-long collaboration to accelerate...
- EU contribution will focus on strengthening health systems to make them more resilient and responsive to natural, climate or human-made disasters.
- The partnership with WHO is a key deliverable of the new EU Global Health Strategy adopted by the European Commission.
Geostrategy
OPEC set to stick or cut more amid plan to cap Russian oil price
LONDON, UNITED KINGDOM - Major oil producers are expected to stick to their current output strategy or even slash production...
- In October the OPEC+ agreed to reduce output by two million barrels per day (bpd) from November.
- Since the October meeting, oil prices have been plummeting to their level of early 2022, far from the peaks above $130 a barrel in March
Business
Dubai records over $1.3 billion in weeklong real estate transactions
Dubai, UAE---A total of 1,600 real estate transactions worth over AED4.8 billion ($1.3 billion) were conducted during the week ending...
- The DLD said that the emirate saw the sale of 176 plots for AED998.19 million, as well as 1,052 apartments and villas for AED 2.32 billion.
- Jabal Ali First recorded the most transactions for this week with 81 sales worth AED285.43 million.
Business
Musk kicks Kanye West off Twitter for ‘incitement to violence’
West has made a series of anti-Semitic comments recently, as the one-time titan of fashion and music appears to have...
- Just clarifying that his account is being suspended for incitement to violence, not an unflattering pic of me, Musk said in response to West's tweet.
- West had shared a picture of a shirtless Musk getting sprayed with water, captioned: "Let's always remember this as my final tweet."
Business
US company turns air pollution into fuel, bottles and dresses
The concoction includes billions of hungry bacteria, specialized to feed on polluted air -- the first step in a recycling...
- LanzaTech, which employs about 200 people, compares its carbon recycling technology to a brewery
- To date, the company says it has kept 200,000 metric tons of carbon dioxide out of the atmosphere
Business
Doha Souq abandons tradition to become World Cup party base
Qatar is hosting the first World Cup in an Arab nation, but the hosts along with fellow Arab states Tunisia...
- The market where locals drink coffee, buy spices, Arab robes, gold jewellery has become popular with fans
- Crowds gather around a giant golden thumb sculpture in the market that has become a magnet for fans of winning teams
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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
Apple makes changes to App Store after EU warning
From the autumn, Apple said developers in the EU "can communicate and promote offers for purchases" wherever they want, for...
Business
Company News
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JPMorgan Q3 profit at $13.2bn
Business
Gold strikes fresh record high as rate cut bets surge
Hong Kong, China - Gold prices soared to a record high above $2,100 on Monday as traders grow increasingly confident the...
Business
$272 billion sustainable finance pledge by UAE financial sector at COP28
Abu Dhabi, UAE -- The financial sector of the United Arab Emirates commits to mobilizing more than AED 1 trillion...
COP28 UAE
Masdar, Taaleri acquire 8 energy projects
The hybrid renewable energy projects in Poland have 1Gw capacity.
Business
Most Read
Business
ADNOC-Tabreed G2COOl opens
G2COOL is the first geothermal energy cooling plant in the Gulf region.
- The G2COOL plant produces naturally occurring hot water found underground through two geothermal wells.
- The hot water is fed into absorption cooling technology to produce the chilled water needed by Tabreed for its district cooling activities.
Business
PwC to set up blocks preventing exam cheating after $7 mn fine
The Public Company Accounting Oversight Board (PCAOB) imposed the penalty on the China and Hong Kong offices of the "Big...
- The risk was that around 200 Chinese companies such as e-commerce giant Alibaba could be ousted from US stock exchanges if they did not comply with American standards
- PCAOB chair Erica Williams said the board was on track to inspect all Hong Kong and mainland China firms that audited US-listed companies by the end of 2024
COP28 UAE
Masdar, EDF to develop up to 3.6GW of hydropower, renewable projects in Kyrgyzstan
Dubai, UAE – Abu Dhabi Future Energy Company (Masdar), the UAE’s clean energy powerhouse, and EDF have signed an agreement...
- The Kyrgyz Republic has set a target of reducing greenhouse gas emissions by as much as 44 percent by 2030, and achieving carbon neutrality by 2050
- Central Asia is a significant emerging market for Masdar which has several agreements to develop solar and wind projects in the region