Business
Wall Street stocks shine amid hopes of US policy pivot
US equities posted gains for a second straight session amid hopes of a US monetary policy pivot, after a bruising...
- The tech-rich Nasdaq Composite Index led the major indices, powering up 3.3 percent to close at 11,176.41
- The Dow Jones Industrial Average rose 2.8 percent to 30,316.32, while the broad-based S&P 500 jumped 3.1 percent to 3,790.93
Tennis sensation Ons Jabeur enters second round at home
The 28-year-old, whose ambition is "to be a good example for all the young people who follow her" has won...
- The Monastir tournament, staged on the central coast of Tunisia, is just the second women's professional circuit organized in Africa
- The world number two took 73 minutes to dispatch her 67th ranked opponent in their first meeting
Arts & Culture
After long renovation, Qatar reopens Museum of Islamic Art
Looking to showcase Islamic culture and art and history, Qatar has unveiled its landmark Museum of Islamic Art after an...
- Constructed on a purpose-built island on Doha's waterfront promenade, the building is the work of the late US architect I.M. Pei
- Qatar has spent billions of dollars on new stadiums for the first football World Cup in an Arab country, which kicks off on November 20
Business
Riyadh Chamber hosts Saudi-Russian business meeting
The Riyadh Chamber hosted a meeting in which 23 Russian companies and representatives of the Saudi Arabian business sector participated.
- The meeting stressed the importance of commercial relations between Saudi Arabia and Russia.
- Businesses can benefit from investment opportunities and partnerships in the two countries.
Business
Mawani, Globe Group to set up logistics zone at Jeddah port
Riyadh, Saudi Arabia--Saudi Arabia's General Authority of Ports (Mawani) has signed a contract with Globe Group, a marine services company,...
- The integrated logistics zone and a re-export zone in Jeddah Islamic Port will be constructed on an area of 135,000 square meters.
- Mawani said the logistics zone will enhance the port’s competitive advantage and support national companies specialized in the logistics sector.
Geostrategy
Germany to continue with $198bn energy fund despite EU criticism
Germany pushed back against critics of a 200-billion-euro ($198-billion) energy fund, as Berlin faces fresh accusations it is going it...
- France and key members of the European Commission are asking for EU-wide solutions to the energy crunch aggravated by the Ukraine war.
- They fear that European countries with high debts cannot afford the largesse demonstrated by Germany, the EU's biggest economy.
Economy
UAE free zone residence visas now valid for two years
The visas currently under process, even those in the last stages of completion, will also be valid for two years...
- The decision comes into effect from October 3, 2022. Earlier, the residence visas were valid for three years.
- The UAQ Free Zone says that all residence visas or Emirates IDs issued for three years will be valid until renewal.
Market Report
Asian, European markets surge on interest rate hopes
Asian and European stocks rallied and the dollar dipped as weak US data sparked hopes the Federal Reserve could ease...
- Monetary tightening by Federal Reserve and other central banks has raised fears that it could plunge countries into recession.
- Eurozone manufacturing survey data showed a contraction on the back of the region's ongoing energy crisis.
Business
Multiply Group buys 80% of IEH
Firm aims to expand its utilities, energy investments.
- Multiply Group had recently invested US$2.7 billion in a 7.3 percent stake in the Abu Dhabi National Energy Company.
- Other investments include 100 percent ownership of PAL Cooling Holding, one of the top players in the UAE’s district cooling industry.
Business
Twitter to roll out edit feature for Blue subscribers
The long-awaited feature to edit tweets is being rolled out to those subscribing to Twitter's Blue service in Australia, Canada...
- The tool will let users edit a tweet up to five times within 30 minutes of initially posting, Twitter said
- An aim of the tweak is that "Tweeting will feel more approachable and less stressful," Twitter said while testing the feature
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
Company News
Latest News
DAE closes $1.6 billion loan
Business
Black Friday is a $74bn opportunity for MENA retail. But is it losing sheen by ‘blindly copying’ the West?
The expected injection of billions of dollars into the retail business through sale of varied items can turn out to...
Business
Black Friday is a $74bn opportunity for MENA retail. But is it losing sheen by ‘blindly copying’ the West?
The expected injection of billions of dollars into the retail business through sale of varied items can turn out to...
Business
EgyptAir orders 10 Airbus A350 planes in $3.2bn deal at Dubai Airshow
The transaction is worth $3.2 billion, reports say.
Business
Most Read
Foxconn reports 11% rise in profit
Foxconn is China's largest private-sector employer.
- Foxconn said net profit for July-September rose to Tw$43.1 billion (US$1.3 billion) from Tw$38.8 billion in the same period last year
- Tuesday's results follow consecutive quarterly profit misses - with January-March seeing a drop of 56 percent and a one percent fall in next three months
Business
Emirates to build advanced $950m engineering facility at DWC
Dubai, UAE -- Emirates has unveiled a plans to build a $950 million cutting-edge engineering facility at Dubai World Central...
- Spanning 1 million square meters, the engineering complex is set to become the most extensive and advanced facility of its kind operated by any airline globally.
- Tailored to meet the evolving needs of Emirates' aircraft fleet through the 2040s, the facility is expected to provide support for the airline's operations.
Business
Denmark, Netherlands top destinations for remote working: Report
Davos, Switzerland -- Denmark, the Netherlands, and Germany have emerged as the leading countries for remote working, offering the best...
- The Global Remote Work Index, which evaluates 108 countries, is a crucial tool for remote workers seeking the best destinations for their work.
- A WEF report, which surveyed over 800 companies employing more than 11 million workers, highlights remote working as a significant trend.