US defends forcing sale of TikTok app
TikTok's suit argues this violates First Amendment rights of free speech.
Business
Boeing to plead guilty to criminal fraud charge stemming from 737 Max crashes
Boeing agreed to plead guilty to a criminal fraud charge tied to the fatal 737 Max crashes, the Justice Department...
Business
Business
Etihad Rail and Borouge enter into strategic partnership
Abu Dhabi, UAE— Etihad Rail and Borouge have entered into a strategic partnership for sustainable transportation to carry 1.3 million...
- Under the terms of this partnership, Borouge becomes one of Etihad Rail’s main customers
- Etihad Rail has successfully reserved 60 percent of the network’s annual transport capacity
Business
$121bn GCC projects in pipeline: Trust, transparency key to their success, TOP CEO Conference heard in May
Beside leadership and vision, trust, communication and transparency between all the stakeholders play a key role in any and every...
- Beside leadership and vision, trust, communication and transparency between all the stakeholders play a key role in any and every project’s success, experts had said at the event.
- More than $50bn of social infrastructure work, according to Meed Projects, is being executed across the Gulf region, while the remaining $70bn is in various stages of planning
Business
Like in climate discourse, digital transformation will eventually edge out the big players, says media expert
“Some big techs are facing crisis with large-scale layoffs and investment cuts. As digital space offers enough space and opportunity...
- Unlike in the industrial revolution, the developments in Information and Communications Technology (ICT) are quicker, says Asian College of Journalism Chairman Sashi Kumar
- 'Rational human beings, interested in transformation in media and communication as a vehicle for the betterment of society, should be worried about technological fundamentalism'
Geostrategy
EU uncovers US$2.3-billion cross-border tax fraud
The EU announced the discovery of a sophisticated US$2.3-billion VAT tax fraud that triggered raids in 14 countries, including France,...
- Prosecutors uncovered a network of "criminal activities" operating in almost all 27 EU member states.
- These activities also operated in Albania, Britain, China, Mauritius, Serbia, Singapore, Switzerland, Turkey, the United Arab Emirates and the United States.
Business
Riyadh’s WTTC Summit to oversee signing of 50 deals
RIYADH, SAUDI ARABIA - Fifty deals and agreements are expected to be signed in the World Travel and Tourism Council...
- The minister evaluated the deals to be worth $50 billion, local media reports said.
- Also, the event comprises over 3,000 participants, 57 ministers of tourism and travel
Geostrategy
UK ousts China from new nuclear project Sizewell
LONDON, UK - Britain on Tuesday ousted China's nuclear firm CGN from construction of its new Sizewell C nuclear power...
- The announcement came one day after Prime Minister Rishi Sunak warned that the "golden era" of UK-China relations was "over"
- Sizewell C, which is under development on the Suffolk coast in eastern England, will power the equivalent of about six million homes.
Business
HSBC sells Canada ops for $10bn
Bank will use funds for core business, give cash to investors.
- The large sale comes after UK-listed HSBC faced calls from biggest shareholder Ping An Insurance Group to cut costs and shift more resources to Asia.
- The Canadian divestment is expected to be completed in late 2023.
Business
DIEZ posts 42% revenue jump
Its earnings grew by 17 percent in H1 of 2022.
- The results, according to the company, confirm that the DIEZ benefited from integrating returns on investment
- The increase in commercial licences and government services amounted to 49 percent
Business
After FTX collapse, BlockFi files for bankruptcy in US
A few weeks after the unravelling of FTX, BlockFi, a lender in the cryptocurrency world, has filed for bankruptcy protection...
- During the course of summer, FTX provided $400 million in credit to BlockFi, enabling the lending firm to avoid bankruptcy
- BlockFi said it was focused on recovering obligations from counterparties, including FTX
Business
Aldar partners with Nobu to develop luxury hotel on Saadiyat Island
Abu Dhabi, UAE— Aldar Properties has partnered with Nobu Hospitality to launch a new luxury hotel, branded residences, and a...
- The agreement will see Aldar develop the 5-star hotel featuring 165 luxurious guest rooms and suites, including the stunning rooftop Nobu Villa
- The planned development includes the first branded Nobu Residences in the Middle East and the second worldwide, offering high-end, multi-bedroom sea view residences
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
US defends forcing sale of TikTok app
TikTok's suit argues this violates First Amendment rights of free speech.
Business
Company News
Delta posts Q3 profits of $1.1b
Business
Latest News
Alaska Airlines to buy Hawaiian Airlines
Based in Seattle, Alaska Airlines serves the western US.
Net-zero targets must include fossil fuel ‘phase-out’: monitor
According to a new report from Net Zero Tracker, at least 150 countries have committed to a net-zero emissions target...
COP28 UAE
Masdar, PLN push to build world’s largest floating solar plant
Dubai, UAE -- Abu Dhabi Future Energy Company (Masdar) has signed agreements to collaborate with Indonesia’s state-owned utility company, PLN,...
Business
Most Read
Business
WhatsApp update allows posting status updates via Instagram
Washington, United States -- The instant messaging platform WhatsApp launched a new update that includes an optional feature that allows...
- This feature will be available in a future update to the application through its beta program within the Google Play Store.
- WhatsApp is also working on an improved posting feature to make it compatible with Instagram, scheduled for a future release, QNA reported.
Business
QatarEnergy announces integration of all marketing and related activities
DOHA, QATAR - QatarEnergy has announced the successful integration of all marketing and marketing-related activities formerly managed by QatarEnergy LNG....
- QatarEnergy described the integration process as a major move towards consolidating the company’s position as a global energy leader.
- The move places the company in a unique position to deliver unparalleled service and value to its customers and stakeholders.
Business
Maghreb farmers fight climate change with drones
The use of modern technologies in agriculture is globally on the rise, including in North Africa where countries rank among...
- Tunisia is currently experiencing its eighth year of drought (four of which were consecutive) in recent years, according to its agriculture ministry.
- Algeria, Morocco and Tunisia ban the use of unmanned drones without a permit, which in the case of commercial uses can take months to be issued.