Google says to buy Wiz for $32 bn
The all-cash deal brings Wiz into the Google Cloud operation.
Business
Gold tops $3,000 for first time on Trump tariff threats
Gold surpassed $3,000 for the first time Friday as US President Donald Trump's trade wars boost the safe-haven asset, while...
Economy
Geostrategy
Saudi-Finnish business forum discusses enhancing trade ties
HELSINKI, FINLAND - Heading a high-level delegation to Finland, Saudi Arabia's Minister of Commerce and Chairman of the Board of...
- The Saudi delegation was in Finland to participate in a forum organized by Business Finland in cooperation with the Federation of Saudi Chambers.
- The forum was attended by around 120 officials from the public and private sectors in the two countries.
Business
Telefonica Q3 profit at $450m
Q3 revenue was up 11.6 percent at US$10.11 billion.
- The company said the results make it possible to confirm its financial targets for 2022, which it raised during the previous quarter.
- Telefonica said that it expects its core earnings growth to be "mid-to-high-end of the low single digit".
Business
Abu Dhabi Ship Building signs MoU
The deal was signed with Indonesia's state-owned shipbuilder PT Pal.
- They will build a range of interceptors, landing craft, and rigid-hull inflatable boats (RHIBs) for Indonesia’s naval and coast guard requirements.
- ADSB operates three main naval programmes: Corvettes, offshore patrol vessels and fast interceptor vessels.
Business
Villas and apartments worth $479 million sold in Dubai on Thursday
Dubai, UAE---Dubai real estate market recorded transactions worth AED2.4 billion ($653 million) on Thursday, according to Dubai Land Department. A...
- The deals include 842 sales transactions worth AED1.96 billion, in addition to 112 mortgage deals of AED487.55 million, and 17 gift deals amounting to AED30.97 billion.
- The sales included 769 villas and apartments worth AED1.76 billion, and 73 land plots worth AED195.5 million.
Economy
At Web Summit, ‘Bored Apes’ emerge from swamp but remain murky
With a blast of "Break on Through" by The Doors and a flashy video of cartoon apes careening around a...
- BAYC is a set of 10,000 auto-generated images of cartoon apes sporting various expressions and accessories, with a back story about them living in a swamp
- Enthusiasts have shelled out many millions in trading the images, which come in the form of digital tokens known as NFTs
Twitter says layoffs to begin today
A company-wide email seen by AFP says Twitter employees will receive word via email at the start of business Friday,...
- Twitter employees have been bracing for this kind of bad news since Musk completed his acquisition
- The email sent Thursday told workers to go home and not report for work on Friday
Interview
UAE a safe global oil, energy supply source: OPEC chief
Since joining the OPEC, the role of the UAE has remained clear: to increase production, maintain economic growth, achieve diversification...
- Since joining the OPEC, the role of the UAE has remained clear: to increase production, maintain economic growth, achieve diversification through other sources, and reduce costs
- The UAE, one of the largest OPEC producers, has attained a significant stature in global energy and oil markets in terms of production, refinery, storage, transport and shipping
Business
Inflation set to shape holiday shopping season
Even as the retail industry is facing unprecedented challenges, the stars are aligning to deliver another "unprecedented" holiday season, a...
- Even as the retail industry is facing unprecedented challenges, the stars are aligning to deliver another "unprecedented" holiday season, a latest report points out
- Amidst the ongoing Inflationary pressure, the cost of goods is rising faster than what can reasonably be passed on to consumers, the Salesforce research highlights
Business
World Cup buzz includes drills, hammers as Qatar races to be ready
A short drive north, sparks from drills and grinders light up a Doha golf club, where workers are constructing a...
- Across the Qatari capital, new hotels are opening, spectacular street art has gone on display and the flags of the 32 competing nations dominate avenues
- At the Katara 'cultural village', a huge white hotel resembling India's Taj Mahal remains part-shrouded in scaffolding
Economy
German industries explore investment opportunities in UAE
Some of Germany’s leading industrial companies participated in a roundtable event hosted by the UAE Ministry of Industry and Advanced...
- From the UAE side, representatives from ADNOC, Abu Dhabi Department of Economic Development, Abu Dhabi Investment Office, and TAZIZ were present.
- The delegates also discussed the future of supply chain opportunities in a post-pandemic world.
Google says to buy Wiz for $32 bn
The all-cash deal brings Wiz into the Google Cloud operation.
Business
Company News
Latest News
Real estate deals in Bahrain decline marginally in third quarter: CBRE
Manama, Bahrain - Real estate transactions in Bahrain recorded a marginal 2.5 percent decline in Q3 2023, totaling 5,145 compared to the...
99 percent of world live in areas with air pollution levels above WHO guideline limits
DUBAI, UAE - According to World Health Organization data, 99 percent of the world’s population lives in places where air...
Business
Most Read
McDonald’s eyes big expansion
The company plans about $2.5bn in capital expenditures in 2024.
- McDonald's will seek to effectively grow its network of namesake sites by about one quarter in what it called the speediest expansion in the brand history
- For CosMc's - which McDonald's executives had teased in July - the company plans an initial store in Chicago in 2024 and nine others in Texas
COP28 UAE
Egypt to sign agreement on curbing methane emissions
Abu Dhabi, UAE--Egyptian Petroleum Minister Tarek el Molla announced an agreement on laying down a detailed road map for cutting...
- The agreement as per media reports will be signed by the the United States Trade and Development Agency (USTDA) within the framework of the COP28
- The minister said that Egypt supported green hydrogen projects in order to promote North African country's drive to become a green hydrogen regional center
Economy
Saudi Arabia offers 30-year tax cut to businesses shifting hqrs to kingdom
Riyadh, Saudi Arabia - Saudi Arabia has rolled out a 30-year tax relief program aiming to lure multinational corporations to...
- Under the Regional Headquarters (RHQ) Program, participating companies will benefit from substantial tax incentives, including a zero percent rate on corporate income tax
- The RHQ Program, launched initially in 2021, has already licensed over 200 companies to operate their regional headquarters from Saudi Arabia