Tesla sales tumble in Europe in Q1
The company suffered from boycotts against the policies of Elon Musk.
Business
Business
Twitter owner Musk signals new ‘war’ against Apple
A series of tweets fired off by Musk included a meme of a car with his first name on it...
- Musk also joined the chorus crying foul over a 30 percent fee Apple collects on transactions via its App Store
- Since taking over Twitter last month, Musk has cut around half of Twitter's workforce, including many employees tasked with fighting disinformation
Business
Americana revises timetable for concurrent dual listing on ADX, Saudi Exchange
The UAE Retail Offer and the KSA Retail Offer were oversubscribed by approximately 48.2x and 2.8x respectively.
- The UAE Retail Offer and the KSA Retail Offer were oversubscribed by approximately 48.2x and 2.8x respectively
- The institutional offer was oversubscribed 65.5x, resulting in an aggregate oversubscription level of 58x
Business
Etihad Airways and Garuda expand combined offerings to 42 destinations
Abu Dhabi, UAE----UAE's national carrier Etihad Airways and Garuda Indonesia, the national flag carrier of Indonesia, will nearly double the...
- The destinations across the Indonesian archipelago, South East Asia, Middle East, US and Europe were doubled after the two partners expanded their 2012 codeshare pact.
- They also offer reciprocal miles accrual and redemption opportunities to members of Etihad Guest and GarudaMiles across both airlines' networks.
Business
Saudi Airport to build a new airport in capital Riyadh
Saudi Arabia announced plans for a new airport in Riyadh while advancing the kingdom's ambitious aviation goals. The airport, set...
- The airport is set to accommodate 120 million travelers by 2030 and 185 million travelers by 2050.
- The new airport is expected to be able to process 3.5 million tons of cargo by 2050, local media said.
Business
Kazakhstan eyes energy takeovers after blackouts, ‘mismanagement’
ALMATY, KAZAKHSTAN - Kazakhstan warned Monday it could nationalize struggling energy companies in the oil-rich Central Asian country after the...
- Kazakhstan is a net exporter of energy, but high gas prices this year fueled historic and bloody protests.
- Last month, Kazakh authorities said 65 percent of regional electricity networks needed repair.
Business
ADIB enables digital solutions to support UAE IPOs’ push
ABU DHABI, UAE - Abu Dhabi Islamic Bank (ADIB) announced that its retail customers were able to conveniently participate in...
- ADIB said that 80 percent of clients subscribed to IPOs that were issued in 2022 through ADIB Mobile app.
- ADIB is providing a quick and easy end-to-end process for IPOs subscriptions through mobile app.
Business
Third Saudi Cruise Season begins as MSC Splendida arrives in Yanbu Port
Riyadh, Saudi Arabia--- Yanbu Commercial Port has officially kickstarted the third edition of the Saudi cruise season by berthing MSC...
- MSC Splendida, which arrived from Jeddah Islamic Port, marked the maiden cruise call for the current season that will run until May 2023.
- Cruise Saudi, a PIF-owned business that oversees the development of the local cruise ecosystem, is trying to position the Kingdom as a premier global cruise destination.
Business
Abu Dhabi Airports announces 4.7m passenger traffic in Q3 2022
ABU DHABI, UAE - Abu Dhabi Airports Monday said that in Q3 2022 passenger traffic totaled 4.7 million passengers, a...
- Abu Dhabi International Airport handled 144,083 tonnes of air freight in Q3 2022.
- Third-quarter statistics confirm that 49,046 Air Traffic Movements (ATMs) were recorded across the five airports.
Economy
UK start-up behind algae-based packaging bids for Earthshot glory
Notpla -- whose mantra is "we make packaging disappear" -- is competing with 14 other firms for five prestigious awards,...
- Viral online interest has helped attract the attention of investors, with Notpla expanding rapidly to boast more than 60 employees
- A recent OECD report found, at the current rate, worldwide plastic waste will triple by 2060 to one billion tones per year
Business
Global Data Dialogue summit in Dubai to discuss AI, public policy, media
The summit will bring together data leaders, high-level government officials, entrepreneurs, technologists, scientists and journalists to engage in dialogue on...
- The summit will bring together data leaders, high-level government officials, technologists, scientists and journalists to engage in dialogue on making data a global good
- Participants will be provided opportunities to network, and participate in plenary sessions, flash talks and a fact-checking workshop
Tesla sales tumble in Europe in Q1
The company suffered from boycotts against the policies of Elon Musk.
Business
Company News
Qatar Airways’ CEO to quit
Business
Chevron to acquire Hess
Business
Invest AD to launch debt fund
Business
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Nedaa, Dubai Customs ink MoU
Business
Yansab 9M net loss $134 million
Business
GCC media outlets think outside the box to stay afloat
Reeling from a calamitous drop in advertisement revenues and public trust, news media organizations are reworking strategies to create "niche"...
Business
Fintech leads MENA startup boom with historic funding
Startups in the MENA region secured a staggering $764 million in funding in November 2023, demonstrating the region's growing influence...
Business
Plan to end e-vehicle subsidies sparks anger in Germany
BERLIN, GERMANY - The German government on Sunday faced a backlash after abruptly ending an electric car subsidy scheme in a...
Geostrategy
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Business
SAMA issues rules regulating ‘buy now pay later’ companies
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has issued rules for regulating buy now pay later (BNPL) companies,...
- Under these rules, BNPL activity is defined as "a type of financing that allows a consumer to purchase goods or services without a term cost payable by the consumer".
- The rules aim to regulate the licensing of BNPL companies and set minimum standards and procedures required to offer BNPL services.
Business
Qatar Airways and Asian Football Confederation sign partnership deal
Doha, Qatar--Qatar Airways Group and the Asian Football Confederation (AFC) have signed a global partnership set to transform the fan...
- The airline said that the partnership will run from 2023 to 2029 in time for the AFC Asian Cup Qatar 2023, which kicks off next year in January
- Qatar Airways CEO said that the agreements marks a shared commitment to linking up people across borders and promoting competitive sportsmanship.
Business
Red Sea Global, VAARST join hands for marine ecosystem mapping
TABUK, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the regenerative tourism destinations, is piloting SubSLAM, an...
- VAARST’s photogrammetry and real-time intelligent data collection system are transforming how underwater ecosystems are mapped and preserved.
- SubSLAM, developed by VAARST, enables precise quantification and identification of corals and underwater objects using advanced 4K sensors.