Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...
Analysis
China, Canada retaliate to Trump tariff war as markets fall
Washington, United States -- Mounting trade wars between the United States and its largest economic partners deepened Tuesday as huge...
Business
Business
Aliph Capital secures $125m investment for its maiden fund from ADQ
Aliph Capital is an alternative investment firm focused on private equity investing.
- Aliph Fund I (LP) is a $250 million target private equity fund domiciled in ADGM aiming to invest in high-quality mid-sized companies in the UAE.
- Aliph Capital will seek to acquire sizeable, active positions in privately owned mid-market companies across the GCC that possess robust business fundamentals, the company said.
Business
Mubadala, KKR in $1bn capital tieup
The two firms signed a partnership to provide bespoke credit solutions.
- In APAC, KKR has deployed nearly US$3 billion in credit capital since 2019.
- The APAC credit business is part of KKR's approximately $178 billion global credit platform.
Business
Philips to cut 4,000 jobs as losses deepen
The step followed penalty for faulty sleep respirators.
- The new chief executive Roy Jakobs said Philips would double down on patient safety and quality management
- The company posted a net profit of three billion euros in the third quarter last year, helped by the sale of its domestic appliances business
Business
CITC unveils initiatives, launches at Digital Technology Forum 2022
The company also announced the winning products of the Co-Innovation Award, the launch of the first Local Technology Guide in...
- The company also announced the winning products of the Co-Innovation Award, the launch of the first Local Technology Guide in the Middle East and North Africa
- It also issued the first Local Technology Products Guide in the MENA to facilitate access to local products developed by IT and emerging technologies companies
Business
Riyad Bank reports 13% jump in profit
The bank's profit rose to $1.3bn in the first nine months of 2022.
- The bank saw its shares increase 1.84 percent at the end of Sunday to reach SR36
- The profit hike was buoyed by higher operating income, due to an increase in earnings from net special commissions, fees and commissions
Business
Climate activists throw mashed potatoes on $111m painting
Publishing a video of the action on Twitter, the environmental protest group Last Generation wrote: "If it takes a painting...
- Dressed in black with orange vests, the two activists poured the mashed potatoes on the painting before squatting in front of it and sticking a hand each on the wall
- In a similar stunt on October 14, two environmental protesters hit van Gogh's world-renowned work with tomato soup at the National Gallery in London
Business
Qatar throws open new hotels, resorts to host football fans
Doha, Qatar— Qatar Tourism has thrown open more than 20 hotels, resorts and new tourist destinations in the country ahead...
- The projects and tourist attractions will be ready to receive football fans from next month
- New attractions include entertainment venues, seaside and beach clubs, arts and culture houses, shopping malls, and the new Qatar 2022 hotels and resorts
Business
QatarEnergy partners with Shell in North Field South expansion project
The agreement gives Shell an effective net participating stake of 9.375 percent in the NFS project, out of a 25...
- The agreement gives Shell an effective net participating stake of 9.375 percent in the NFS project, out of a 25 percent interest available for international partners
- The North Field Expansion Project, comprising NFS and the North Field East (NFE) expansion projects, is the industry's largest-ever LNG project
Economy
UAE Minister highlights youth’s role in sustainable food systems
DUBAI, UAE - UAE Minister of Climate Change and the Environment Mariam bint Mohammed Almheiri participated in the World Food...
- The Minister held meetings with several high-level FAO officials on the UAE’s contribution in tackling global food and nutrition insecurity.
- The event drew governments, youth champions, global influencers and non-profit organizations to support youth-led transformation of agrifood systems.
Business
Saudi Arabia is spending big on golf and transforming the sport forever
Since June 2022, when the first Liv Golf tournament funded by Public Investment Fund was played, nine golfers in the...
- American stars Bryson DeChambeau, Dustin Johnson and Phil Mickelson each reportedly received more than $100m to defect to LIV Golf.
- The first LIV Golf Invitational Series event started on 9 June 2022 at the Centurion Club near London, England. The Invitational Series is to become the LIV Golf League in 2023.
Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...
Analysis
Company News
EWEC, Masdar sign purchase pact
Business
ADNOC to deploy UAE-made drones
Business
Latest News
ADNOC signs pacts with 30 firms
Business
UAE and Turkmenistan pledge to ramp up ties ‘in all fields’
Dubai, UAE-- The UAE and Turkmenistan have agreed to enhance bilateral ties in all fields, particularly in the development sectors,...
COP28 UAE
Alaska Airlines to buy Hawaiian Airlines
Based in Seattle, Alaska Airlines serves the western US.
Net-zero targets must include fossil fuel ‘phase-out’: monitor
According to a new report from Net Zero Tracker, at least 150 countries have committed to a net-zero emissions target...
COP28 UAE
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Presight AI, Samruk-Kazyna launch JV
The partnership aims to accelerate digital transformation in Kazakhstan.
- Revealed at COP28, the venture aims to deploy advanced AI and big data solutions.
- Energy, public services, and transport in Kazakhstan to benefit from big data analytics.
Business
WhatsApp update allows posting status updates via Instagram
Washington, United States -- The instant messaging platform WhatsApp launched a new update that includes an optional feature that allows...
- This feature will be available in a future update to the application through its beta program within the Google Play Store.
- WhatsApp is also working on an improved posting feature to make it compatible with Instagram, scheduled for a future release, QNA reported.
Business
QatarEnergy announces integration of all marketing and related activities
DOHA, QATAR - QatarEnergy has announced the successful integration of all marketing and marketing-related activities formerly managed by QatarEnergy LNG....
- QatarEnergy described the integration process as a major move towards consolidating the company’s position as a global energy leader.
- The move places the company in a unique position to deliver unparalleled service and value to its customers and stakeholders.