OPEC+ sticks to oil output plan after Trump’s price demand
In a bid to boost prices, the Organization of the Petroleum Exporting Countries (OPEC) headed by Saudi Arabia and Russian-led allies...
Business
‘Global Collaboration Village aims to digitize and democratize WEF dialogues’
DAVOS: The future of global collaborations is being shaped by innovation and the ubiquitous embrace of immersive technologies, which continue...
Economy
Business
Response Plus enters Indian market
The company will establish its Indian headquarters in Kerala state.
- RPM India will work as a healthcare partner for onsite medical service solutions with oil and gas companies and other major industries.
- It will provide services to Airports, Seaports, Educational Institutions, malls and global events to meet the emergency healthcare needs.
Business
Agthia to pay $17m dividend
The dividend is in line with its bi-annual dividend policy.
- The company's H1 revenues reached AED 2 billion, up 51 percent year-on-year, and net profit grew to AED 118 million for the period, a 74 percent increase compared to H1 2021.
- Agthia recently announced an AED 90 million investment in a manufacturing facility in Saudi Arabia to drive growth for its protein vertical.
Business
How the tide turned on promising data centers in Europe
Energy-guzzling Data centers or bit barns across Europe are facing the heat because of energy shortage sparked by the Ukraine-Russia...
- The industry sucked up 14 percent of Ireland's power last year, while Amsterdam said it simply had no more room for the warehouses.
- Some question whether data centres were the best target for criticism when cryptocurrencies were so wasteful.
Business
Rosneft H1 net profit up 13%
The energy giant's H1 net profit rose to $7.2 billion.
- Having processed 45.8 million tonnes of oil this semester, Rosneft said its debt decreased by 12 percent from the beginning of the year.
- The company' revenues increased by 32.5 percent, reaching $86.7 billion.
Business
Thai SC dismisses Toyota appeal
The court dismisses appeal over $270m import tax bill.
- The case relates to Toyota Motor Thailand's importation of parts for its Prius model at a reduced tax rate between 2010 and 2012.
- While Thailand's Central Tax Court ruled in favor of Toyota in 2017, the decision was later overturned.
Business
Ethereum blockchain completes software upgrade to cut energy use
Leading cryptocurrency figures hailed on Thursday the completion of one of the biggest software upgrades the sector has ever attempted,...
- Developers had spent years working on an energy-efficient version of Ethereum, a digital ledger that underpins tens of billions of dollars worth of cryptocurrencies, etc.
- Ethereum is the second most important blockchain after bitcoin, but it has faced criticism for burning through more power each year than New Zealand.
Economy
Sharjah to host International Jewelry Designers Forum
Expo Centre Sharjah has said that it will host the International Jewelry Designers Forum on October 7.
- The forum will discuss a number of thematic topics, including future trends in jewelry and gem designs.
- It will also discuss important techniques used in combining stones and lab-created diamonds.
Arts & Culture
TV series ‘The Crown’ brings mourners closer to royals
First aired in 2016, it charts the queen's journey from nervous 25-year-old neophyte to national institution as she guided the...
- First aired in 2016, it charts the queen's journey from nervous 25-year-old neophyte to national institution as she guided the monarchy through decades of scandals and upheaval
- The last season to air drew some criticism in UK for taking too much artistic license and allegedly portraying Charles excessively negatively over his treatment of his ex-wife
Business
Saudi Arabia to enhance wheat storage capacity
Saudi Arabia is looking to enhance wheat storage capacity in the kingdom by building new silos. Once it is done...
- At present, Saudi Arabia’s wheat storage capacity amounts to 3.5 million tons, distributed across 14 branches in the kingdom
- A project to construct silos in NEOM city has also been awarded to enhance the kingdom’s storage capacity.
Business
Al-Ittefaq plans an IPO
The $2bn worth Saudi steel giant will list on Tadawul.
- The value of the company is estimated at over $2 billion
- A deal with the financial adviser to manage the company’s initial public offering is expected soon
OPEC+ sticks to oil output plan after Trump’s price demand
In a bid to boost prices, the Organization of the Petroleum Exporting Countries (OPEC) headed by Saudi Arabia and Russian-led allies...
Business
Company News
Latest News
SAMA, Central Bank of China sign $7bn currency swap agreement
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has signed a three-year currency swap agreement with the Central Bank...
Business
US regulator files charges against Kraken crypto exchange
The action against Kraken by the financial markets regulator will likely pour cold water on the hopes of many firms...
Economy
With X’s Musk under fire, Biden joins rival Threads
The White House confirmed it had launched Threads accounts for the president, First Lady Jill Biden, Vice President Kamala Harris,...
Geostrategy
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Economy
UAE a key player in global financial landscape: NYSE vice-chairman
Abu Dhabi, UAE--The UAE has solidified its stature as a key player in the global financial landscape, through launching economic...
- He believes the UAE’s financial markets have significant potential and flexibility, combined with its continuous commitment to innovation and development
- He said the UAE's commitment to developing its financial infrastructure and attracting foreign investments makes it a significant market in the MENA region
Business
L&T energy hydrocarbon unit clinches mega deal in the Middle East
New Delhi, India - The L&T Energy Hydrocarbon (LTEH), hydrocarbon business unit of Larsen & Toubro (L&T), said on Monday...
- The scope of work comprises engineering, procurement, construction and installation of a new large offshore platform
- In October also, LTEH secured a major contract worth over Rs 15,000 crore ($20 billion) from a Middle Eastern client
OpenAI staff threaten mass exodus to join ex-CEO Altman
In a fast-moving sequence of events, Altman, who was ousted by the board on Friday, has now been hired by...
- In a letter released to media, the vast majority of OpenAI's 770-strong staff suggested they would follow Altman unless the board responsible for his departure resigned
- A key Artificial Intelligence executive at Microsoft confirmed that they all were welcome from OpenAI if the board that removed Altman doesn't resign