Iran-Turkey trade expands to US$930m in first two months of 2024
Tehran, Iran--The trade exchanges between Iran and Turkey in the first two months of 2024 reached $930 million, showing a...
Business
ADQ launches new firm in healthcare sector
Arcera will aim to improve the quality of "human life."
Business
Business
Delegations from France, Italy visit Expo Center Sharjah
Delegations from France and Italy have visited the Expo Center Sharjah to discuss ways to strengthen cooperation and exchange expertise...
- The meetings were held on the sidelines of the 50th edition of the Watch & Jewelry Middle East Show.
- The delegations toured the exhibition and looked into ways to work with the center.
Market Report
Stocks fall, dollar boosted by US jobs data
Stocks mostly slid and the dollar surged after US jobs data showed only a timid slowdown in the labor market,...
- There was a brief rebound at the start of the week as investors hoped data pointing to economic slowdown would allow the Fed to slow down rate hikes.
- Rising interest rates boost the dollar as foreign investors seek to buy dollar-denominated debt.
Geostrategy
UAE, Egypt discuss cooperation in defense industries
A high-level UAE delegation, on a visit to Egypt, met with senior officials of the Egyptian Ministry of Defense.
- The two sides discussed opportunities for strengthening the overall relations between the UAE and Egypt.
- They discussed promoting partnerships between the defense industry of the two countries.
Economy
Global food prices fall for sixth month in a row, says UN
World food prices have fallen for a sixth month in a row in September, UN data showed as they continued...
- The UN agency FAO said its price index averaged 136.3 points in September, a 1.1 percent drop from August.
- The monthly decline was driven by a "sharp fall" in the prices of vegetable oils, the United Nations agency said.
Geostrategy
EU leaders try for common response to energy crisis
EU leaders meeting in Prague looked to bridge divisions on how to tackle soaring energy prices as they grapple with...
- EU leaders were discussing how to better protect their critical infrastructure in the wake of leaks from the Russia-Europe Nord Stream gas pipelines.
- Europe is facing an energy crunch as the price of electricity generation skyrockets because of a massive surge in gas prices.
Business
TSMC Q3 revenue at US$19.4bn
The firm operates the world's largest silicon wafer factories.
- The Taiwanese firm controls more than half of global foundry output, with clients including Apple and Qualcomm.
- TSMC produces some of the most advanced and smallest chips which are still highly sought after and in short supply.
Business
Nykaa enters into a strategic alliance with Middle East-based Apparel group
Nykaa will leverage the Apparel Group’s robust retail infrastructure network and deep market relationships to build distinctive GCC focused beauty...
- Nykaa will leverage the Apparel Group’s retail infrastructure network to build GCC focused beauty offerings
- Founded by Falguni Nayar in 2012, Nykaa disrupted the Indian beauty market with its content to commerce expertise
Business
Tihama’s stock surges 10%
The firm won the nod from CMA to increase capital by 700%.
- Its shares jumped 9.81 percent, continuing to lead the market’s gainers since early trade at $28
- According to a bourse filing, the marketing firm’s capital will be increased from $13.33 million to $107 million
Business
Samsung expects 31.7 percent decline in Q3 profit
The South Korean tech giant, Samsung Electronic, has said that it expects operating profits in the third quarter to fall...
- Operating profit for July to September was predicted to reach 10.8 trillion won ($7.7 billion), down 31.7 percent
- The global economy is now facing multiple challenges, including soaring inflation, rising interest rates, and a growing threat of a broad debt crisis
Business
Jordan’s first medical university set to enroll students
The Aqaba Medical Sciences University (AMSU), the first medical university in Jordan, will enroll its first class of medical and...
- According to the Chairman of the board of trustees, the investment in the private university is valued at $169.25 million, which can be increased
- The university will also house an educational and training hospital, which is currently being built, and in its first cohort, the university will enroll 150 students
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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
Iran-Turkey trade expands to US$930m in first two months of 2024
Tehran, Iran--The trade exchanges between Iran and Turkey in the first two months of 2024 reached $930 million, showing a...
Business
Company News
Latest News
Mawani, CMA CGM Group lay foundation for logistics park at Jeddah Islamic Port
RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) and CMA CGM launched on Wednesday a new logistics park at...
Business
Saudi inflation in Oct slightly down amid economic challenges
Riyadh, Saudi Arabia -- Saudi Arabia's consumer price index experienced a slight decrease in October, dropping to 1.6 percent from...
Economy
US$3.2bn worth deals signed on first two days of Dubai Airshow 2023
DUBAI, UAE – Tawazun Council announced the signing of 11 deals, worth US$1.8 billion (AED 6.9 billion), with local and...
Business
Most Read
Business
Dubai Airports expect to cross pre-pandemic passenger numbers in 2023
Dubai, UAE--Dubai Airports is expecting annual passenger traffic at Dubai International (DXB) to touch 86.8 million – surpassing 2019 traffic,...
- It forecasts annual passenger traffic at Dubai International (DXB) to touch 86.8 million, crossing 2019 traffic, propelled by strong growth
- Some 23m passengers passed through the airport in Q3, taking the total traffic for the first nine months of the year to 64.5m passengers
Business
Iran to link up electricity grid with Russia via Azerbaijan
Tehran, Iran-- Iran is linking up its electricity grids with Russia via Azerbaijan in order to make up for its...
- The Iranian minister said feasibility studies for connecting power grids have been conducted through three routes including Georgia, Azerbaijan, and Turkmenistan
- He said the use of electricity in Iran’s industrial sector has exceeded that of the household sector for the first time in the history of the country’s power industry
Snapchat to add in-app Amazon shopping
In-app shopping will be available for select products advertised on Snapchat and sold at Amazon, the spokesperson added. People will...
- Snapchat-parent Snap shares shot up more than 7 percent on the news, ending the formal trading day at $12.15 per share
- Snap and Amazon last year unveiled a collaboration that let Snapchat users "try on" eyeglasses using AR then buy those they liked at Amazon