Britain expands investigation into Vodafone-Three UK merger
London, United Kingdom - Britain's competition regulator deepened Thursday its probe into Vodafone's planned merger of British mobile phone operations with...
Business
Turkish Airlines profits soar
In December, the airline ordered 230 Airbus planes.
Economy
Abu Dhabi Foreign Experts Court examines 200 cases
The Foreign Experts Court of the Abu Dhabi Judicial Department (ADJD) has managed to maintain high adjudication rates in the...
- The Foreign Experts Court has achieved a 90 percent disposition rate out of a total number of about 200 commercial cases.
- The panel of the Foreign Experts Court consists of a single judge and two foreign experts.
Business
Saudi to build world-class mining business in cooperation with South Africa
Riyadh, Saudi Arabia-- Saudi Arabia's Deputy Minister of Industry and Mineral Resources for Mining Affairs Khalid bin Saleh Al-Mudaifer said...
- Saudi Arabia expects its mineral wealth to exceed $1.3 trillion as it plans to triple spending on exploration of metals over the next three years.
- Saudi deputy minister Khalid bin Saleh says the two countries will focus on quality of the projects.
Geostrategy
Saudi Arabia and S. Africa to deepen ties in several fields
The agreement would result in partnership in encouraging direct investment, communications and information technology, exploring the establishment of a joint...
- An agreement was signed between the two countries during the presence of Saudi's Crown Prince & Prime Minister and South Africa's President
- The agreement contains cooperation and exchange of news between the Saudi Press Agency (SPA) and the state-run South African News Agency.
Economy
GCC and UK hold first round of talks on Free Trade Agreement
The British government said the Free Trade Agreement is a major economic opportunity and plays a key role in the...
- The two sides discussed Free Trade Agreement's goals and the exchange of technical information in 29 areas.
- More than 100 British negotiators representing different sides of the British government participated in the round.
Business
GCC chemical companies lesser exposed to market risks than their European counterparts
Chemical companies in the Gulf region are likely to cope relatively well with the current stresses of rising rates and...
- Chemical companies in the Gulf region are likely to cope relatively well with the current stresses of rising rates and higher energy costs, says a recent report.
- Market conditions for commodity chemical companies have improved notably over the past 15-18 months on the back of rising oil prices, it adds
Economy
TotalEnergies’ workers pledge to continue their strike
The hard-left CGT union, which launched the industrial action three weeks ago, said that workers at three TotalEnergies sites had...
- Four of France's seven refineries and one fuel depot were out of action, after strikers rejected a pay offer from the hydrocarbon industry leader.
- The blockages have caused queues outside petrol stations, and worry across all sectors of the economy, from mobile healthcare workers to farmers.
Economy
WFP calls for action to avoid another year of record hunger
UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri said that the crises facing the world today...
- The UAE has launched the Agriculture Innovation Mission for Climate (AIM for Climate) in partnership with the US.
- The objective is to raise investments worth US$8 billion in sustainable and climate-smart agrifood systems based on modern technologies.
Market Report
Saudi TASI plummets, UAE indices show mixed trends over the week
The UAE stock market followed the trend of other markets worldwide and ended the week on a high note but...
- A 5.2 percent gain in Multiplay Group's share price, a 3.3 percent increase in Aldar Properties' share price pushed the Abu Dhabi index up 0.9 percent on Friday (October 14).
- The Dubai index rose 0.8 percent on Friday (October 14, 2022), led by the gains in the real estate and banking sectors.
Business
UAE, Lulu Money sign pact on digital KYC service
LuLu Exchange – one of UAE’s leading financial service providers, announced that it has signed an agreement with the country's...
- The company has taken this step to streamline customers' experience, perform instant and highly secure face matching verification.
- This will eliminate the need for customers to physically visit a branch for initial KYC verification.
Business
Nasdaq Dubai lists physically backed Bitcoin ETP
21Shares’ ETPs are already listed across 12 exchanges, including SIX Swiss Exchange, Deutsche Börse, EuroNext, BXSwiss, Wiener Börse, Quotrix etc.
- 21Shares’ ETPs are already listed across 12 exchanges, including SIX Swiss Exchange, Deutsche Börse, EuroNext, BXSwiss, Wiener Börse, Quotrix etc
- Following India's decision to tax crypto earnings at 30%, the MENA region has become a hub for crypto companies and major exchanges like FTX and Kraken
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
Britain expands investigation into Vodafone-Three UK merger
London, United Kingdom - Britain's competition regulator deepened Thursday its probe into Vodafone's planned merger of British mobile phone operations with...
Business
Company News
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Meta, TikTok challenge incoming EU digital market law
Brussels, Belgium - Tech giants Meta and TikTok are contesting the scope of an EU law that from March will set...
Business
US chip curbs disturb Chinese firms AI projects
Shanghai, China - US restrictions on advanced computer chips are forcing China's tech giants to rethink their ambitious AI-powered projects, analysts...
Business
NBM’s board approves increasing Murabaha sukuk issue to $133m
RIYADH, SAUDI ARABIA - National Building and Marketing Co’s (NBM) board of directors approved an increase of Murabaha SAR-denominated sukuk...
Business
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Business
$5.8bn worth deals signed in first four days of Dubai Airshow 2023
DUBAI, UAE – Tawazun Council signed 16 deals, worth US$1.3 billion (AED 4.87 billion), with local and international companies on...
- The first day saw announcement of contracts worth US$1.2 billion and the second day US$1.8 billion
- The total value of contracts announced on third day stood at US$1.3 billion
Business
EPI to make assembly parts for Raytheon
EPI is part of the Platforms Systems cluster within EDGE.
- EPI will supply prototype quantities of machined aluminium and assembly parts for the Coyote® Counter-UAS interceptor.
- The agreement supports the 'Make it in the Emirates' initiative, a comprehensive plan for developing the UAE's industrial sector.
Business
PIF seeks to increase stake in Egypt’s e-Finance by 2 percent
Riyadh, Saudi Arabia -- Ibrahim Sarhan, the Chairman and Managing Director of e-Finance for Digital & Financial Investments based in...
- This move comes after PIF's recent buy orders for the stake purchase, indicating the fund's confidence in e-Finance and its favorable financial results, Argaam reported.
- e-Finance expanded its operations by opening an office in Saudi Arabia this month, securing essential licenses with the support of PIF as a major shareholder.