Chinese auto giant BYD to integrate DeepSeek, broaden self-driving tech
BYD will install its "God's Eye" autonomous driving system in at least 21 models, including the Seagull budget hatchback priced...
Business
Geostrategy
‘Nord Stream 2 pipeline has stopped leaking gas’
The Nord Stream 2 pipeline is no longer leaking under the Baltic Sea because an equilibrium has been reached between...
- While the pipelines are not currently in operation, they both still contained gas before they fell victim to apparent sabotage, producing four leaks.
- All the leaks are in the Baltic Sea off the Danish island of Bornholm.
Geostrategy
Russia suspends gas supply to Italy due to transport issues
SOFIA, BULGARIA - Russia's Gazprom has suspended gas deliveries to Italy's Eni, blaming a transport problem in Austria, the Italian...
- Most of Russian gas delivered to Italy passes via Ukraine through Trans Austria Gas Pipeline (TAG), to Tarvisio in northern Italy
- Before the war in Ukraine, Italy imported 95 percent of the gas it consumes -- about 45 percent of which came from Russia.
Business
EU decides to cut power use, levy energy firms
The EU executive believes it can raise €140 billion from the levies on non-gas electricity producers and on energy majors...
- European households and businesses are already staggering under surging energy bills, fueling record inflation that in the eurozone has hit 10 percent
- The EU ministers’ agreement came a day after Germany announced a $195 billion energy aid package to shield its consumers
Business
Maradona ‘Hand of God’ jersey to go on display in Qatar
The shirt, which sold for $9.3 million to a secret buyer, has been loaned to Qatar's 3-2-1 sports museum and...
- Qatar has not named the shirt's new owner, who paid a then record price for any sports memorabilia object
- Maradona scored both goals in the World Cup quarter-final 2-1 victory over England in Mexico City's Aztec Stadium in 1986
Economy
Saudi Arabia hopes to post budget surplus of US$24bn
Saudi Arabia is expecting to record an increase in its budget surplus in 2022 to S24 billion, according to the...
- According to the ministry of finance, Saudi total revenues are expected to reach about $299 billion in 2023, while reaching about $323 billion in 2025
- The minister said the objectives of the general budget for the fiscal year 2023 come as a continuation of the process of work to strengthen the financial position of the kingdom
Business
Saudi to make US$32bn in income from recycling by 2035
Saudi Arabia is expected to generate an annual income of $32 billion from recycling waste by 2035, according to the...
- Mansour Al-Mushaiti said the forecast is based on estimates made by the National Center for Waste Management
- He also flagged up the move to zero carbon neutrality by 2060, as well as seeing 94 percent of waste recycled by 2035 instead of being taken to landfills
Economy
UAE eyes jobs via crypto, metaverse investments
According to a PWC estimate, the MENA region's blockchain market would reach $3.2 billion by 2024, and the UAE is...
- Blockchain market is expected to reach $3.2 billion in the MENA region by 2024, according to a PWC estimate
- UAE has attracted many crypto trading platforms, tempting investors with its regulatory system and promises of security improvements
Science
Abu Dhabi launches healthcare grant to help research, innovation
The Department of Health – Abu Dhabi (DoH) launched the first edition of the Healthcare Research and Innovation Grant, a...
- The grant seeks to fuel healthy competition across the healthcare ecosystem in the emirate.
- It seeks to help start unique research projects and innovative products, technologies and services in Abu Dhabi’s healthcare facilities.
Business
Emirates SkyCargo, United Cargo sign MoU
The two airlines will work on expanding cargo interline options.
- United will have access to SkyCargo’s high frequency distribution network through the belly-hold of passenger flights to over 100 global destinations and 11 freighters.
- Emirates SkyCargo will have access to over 200 cities in the US and 300 cities across five continents through United Cargo.
Science
Two-day inaugural RAK Energy Summit to begin on Oct 4
The inaugural RAK Energy Summit, to be held on October 4-5, will feature experts from the energy sector in the...
- The summit will feature experts from the energy sector in the UAE and globally.
- The experts will discuss the challenges the world faces as it moves to cut carbon emissions.
Company News
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Binance selling Russia business
Business
DP World and IRENA sign agreement to cut emissions in maritime sector
Dubai, UAE--DP World and the International Renewable Energy Agency (IRENA) have signed a cooperation agreement to accelerate the use of...
Business
Qatar’s North Field expansion fuels optimistic outlook
"Looking ahead, our focus is on the North Field Expansion and sustainability projects. We are collaborating with our contractors to...
Business
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Business
Bank of Sharjah joint lead manager for $350m Ittihad sukuk
SHARJAH, UAE - Bank of Sharjah announced its selection as joint lead manager and bookrunner in the debut US$350 million...
- The Sukuk issuance was 1.7 times oversubscribed, with the orderbook reaching approximately US$600 million.
- “This demonstrates Ittihad’s solid business fundamentals and confirms its strong credit appetite,” CEO of Bank of Sharjah said.
Business
SEVEN to build $347m entertainment destination in Saudi Arabia’s Aseer
Riyadh, Saudi Arabia -- Saudi Entertainment Ventures (SEVEN), a PIF subsidiary, has announced the fifth entertainment destination in the Kingdom,...
- Designed by Gensler, a global architecture, design, and planning firm, the architecture was inspired by the ancient stone buildings of the area to highlight the identity of Aseer.
- SEVEN, a wholly owned subsidiary of the Public Investment Fund (PIF), has appointed Modern Building Leaders to undertake the construction works.
Business
ADDED launches program to improve SMEs’ access to financial services
Abu Dhabi, UAE -- The Abu Dhabi Department of Economic Development (ADDED) has launched a program to improve the access...
- The program was launched in partnership with the Emirates Classification Society “Tasneef” and support of Abu Dhabi Chamber of Commerce and Industry (ADCCI), and leading banks.
- Small and Medium Enterprises are one of the vital sectors in Abu Dhabi’s economy, accounting for 98 percent of businesses.