$20 million rare blue diamond goes on show in Abu Dhabi
Abu Dhabi, United Arab Emirates -- A rare blue diamond valued at $20 million went on pre-auction display on Tuesday...
Business
Business
China makes first delivery of homegrown passenger jet
The state-owned Commercial Aircraft Corp of China said at an airshow last month that it had secured orders for 300...
- Beijing hopes the C919 commercial jetliner will challenge foreign models like the Boeing 737 MAX and the Airbus A320
- The first model of the narrow-body jet, which seats 164 passengers, was formally handed over to China Eastern Airlines
Business
e& partners with Bespin Global to offer cloud managed services in METAP region
The Joint Venture will be 65 percent owned by e& enterprise and 35 percent by Bespin Global.
- The JV will be 65 percent owned by e& enterprise and 35 percent by Bespin Global
- e& enterprise will be making a primary investment of $60 million in Bespin Global
Business
Musk faces legal onslaught from angry ex-Twitter workers
The social media giant is facing a growing number of cases over the terms of terminating employees -- and even...
- Musk's disdain for working from home is also being resisted, with employees with disabilities or health concerns seeing orders to come back to the office as discriminatory
- The stack of legal cases could also force Musk to work towards a settlement, especially since his company is under huge financial stress after taking over the Twitter
Economy
UAE leads Arab world in IMD World Talent Ranking 2022
The country was ranked among the top ten in nearly 30 percent of the report’s indexes.
- The country was ranked among the top ten in nearly 30 percent of the report’s indexes
- World Talent Report is published annually by the Institute for Management Development in Lausanne, Switzerland since 2013
Business
‘Investment in sports a key part of global economy’
“Sports economies involve infrastructure, new talents, air traffic, travel, and other components,” Al Marri adds, noting that there are many...
- Investment in sports is a key part of the global economy, being one of the main pillars of the new economy, says UAE’s Minister of Economy Abdullah bin Touq Al Marri
- Sports economies involve infrastructure, new talents air traffic, travel, and other components, adds Al Marri, who is also the Chairman of Investopia
Business
Saudi Central Bank licenses debt-based crowdfunding finance firm Manafa
Riyadh, Saudi Arabia---The Saudi Central Bank (SAMA) has licensed Manafa, a finance company specialized in debt-based crowdfunding in the kingdom....
- Manafa is a closed joint-stock company with a capital of SAR 40 million.
- The license was granted to the company after a successful trial run in SAMA's Regulatory Sandbox, an experimental environment dedicated to innovative financial products, services.
Economy
Abu Dhabi Chamber inks 3 pacts to drive economic growth
ABU DHABI, UAE - As part of its participation in the first edition of the Abu Dhabi International Food Exhibition...
- The MoUs are a part of the chamber’s efforts to drive economic growth in Abu Dhabi and support investment in vital sectors.
- As part of its efforts to support start-ups and SMEs, the Abu Dhabi Chamber signed a partnership agreement with the Emirates Development Bank.
Business
Dubai records over $462 million in real estate transactions: DLD
Dubai, UAE--- Dubai real estate market recorded deals worth AED1.7 billion ($462 million) on Thursday, according to Dubai Land Department....
- The deals included 617 sales transactions worth AED1.45 billion, in addition to 85 mortgage deals of AED257.35 million, and 19 gift deals amounting to AED34.64 million.
- The sales included 532 villas and apartments worth AED1.11 billion, and 85 land plots worth AED338.47 million.
Business
Kazakhstan threatens to ban ArcelorMittal after worker death
ALMATY, KAZAKHSTAN - Kazakhstan threatened Thursday to ban global steel giant ArcelorMittal from operating in the Central Asian country after...
- ArcellorMittal, the world's second largest steel producer, operates a dozen factories and mines in this polluted industrial Kazakh region.
- Kazakhstan has in the past imposed fines on ArcelorMittal for non-compliance with ecological standards.
Geostrategy
WHO member states agree to develop draft of pandemic accord in early 2023
GENEVA, SWITZERLAND - Member states of the World Health Organisation (WHO) Thursday agreed to develop the first draft of a...
- This zero draft of the pandemic accord, rooted in the WHO Constitution, will be discussed by member states in February 2023.
- The agreement by the Intergovernmental Negotiating Body, comprising WHO’s 194 member states, was a milestone in the global process to learn from the COVID-19 pandemic.
$20 million rare blue diamond goes on show in Abu Dhabi
Abu Dhabi, United Arab Emirates -- A rare blue diamond valued at $20 million went on pre-auction display on Tuesday...
Business
Company News
TotalEnergies Q3 profit up 1.5%
Business
PIF, Pirelli establish a JV
Business
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Ghitha Holding Q3 profit of $33m
Business
Bank Albilad posts net profit
Business
London’s transport shifts gears with TfL’s cargo bike action plan
London, United Kingdom - On a busy north London street, plumber Ben Hume-Wright zipped through the heavy rush-hour traffic to his...
Business
ADIB, Aldar close $272m financing deal
Aldar's total ESG financing facilities reach $1.30 billion.
Business
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Business
Arabian Travel Market ties up with ICCA, GBTA as business set to touch US$1.8trn
Dubai, UAE--Arabian Travel Market (ATM) has entered into a partnership with the International Congress and Convention Association (ICCA) and the...
- ICCA and GBTA have been appointed as ‘Knowledge Partners’ for the regional trade show to be held at the Dubai World Trade Center
- through its partnerships with the two noted global entities, ATM looks to deliver even more value and innovation to its attendees and exhibitors
Business
Google to pay US$700m to US consumers
It is an antitrust settlement made public recently.
- In 2021, many US states had come together to file a lawsuit accusing Google of abusing its power regarding consumer access to apps
- Google as part of the settlement will make changes to its Google Play app store to reduce competition barriers for developers
Geostrategy
US pushes naval coalition as Yemen rebels vow to attack more ships
The United States pushed to build up a multinational naval task force to protect a key global shipping lane from...
- US Defense Secretary Lloyd Austin condemned the "unprecedented" spate of attacks in waters leading to the Suez Canal.
- The Canal is a chokepoint for about 10 percent of global trade, that have forced many shipping companies to divert their vessels.