Meta, Microsoft slam Apple over app store policy
The four companies filed a rare joint amicus brief in a California court in charge of applying a ruling that...
Science
Sustainable research centers in UAE being built on SDME designs
Several regions across the UAE are witnessing the implementation of the designs of some of the teams that participated in...
- In the UAE many sustainable research centers based on the designs of the teams participating in the first and second Solar Decathlon Middle East are being constructed
- SDMEs were organized by Dubai Electricity and Water Authority as part of its, Dubai Supreme Council of Energy and the US Department of Energy partnership
Economy
Major fall in global food prices in July, says FAO
Food prices dropped significantly in July, marking the fourth consecutive monthly decline since record highs earlier this year in the...
- Food prices dropped significantly in July, marking the fourth consecutive monthly decline since hitting record highs earlier this year in the wake of the developments in Ukraine
- The decline was led by double-digit percentage drops in the cost of vegetable oils and cereals
Khalifa Fund offers US$30 million to support SMEs in Kenya
The agreement aims to promote entrepreneurship and develop Small and Medium Enterprises (SMEs) in Kenya.
- The agreement aims to promote entrepreneurship and develop Small and Medium Enterprises (SMEs) in Kenya
- Under the agreement, more than 3,000 projects with 40 percent allocated for women will be financed nd are expected to generate nearly 13,000 job opportunities
Business
Amazon buys iRobot for $1.7bn
The deal reinforces its interest in robotics and automation.
- iRobot, building robots and "intelligent home" innovations, introduced Roomba self-operating vacuums a decade ago
- The deal to buy iRobot for $61 per share along with acquiring the company's debt is subject to approval of shareholders and regulators
Opinion
There’s light at the end of the tunnel for tech stocks
However, there are numerous economic sectors where tech penetration remains in its infancy, such as in logistics, e-commerce and supply...
- Many of the tech names that outperformed throughout the past decade have seen the steepest falls. Some have seen 70 percent or more wiped off their values, writes an expert
- There are numerous economic sectors where tech penetration remains in its infancy, such as in logistics, e-commerce and supply chains, which retain enormous growth potential
UAE to invest $1bn in Pakistani companies across various sectors
The move aims to explore new investment opportunities and areas for cooperation in the best interest of the two countries.
- The move aims to explore new investment opportunities and areas for cooperation in the best interest of the two countries
- The two countries will cooperate in various fields, including gas, energy infrastructure, renewable energy, logistics etc
Business
PIF of Saudi Arabia sets up investment firm in Egypt
Saudi Arabia's Public Investment Company (PIF) has established a new company in Egypt to drive investment in the north African...
- The new company will look at sectors as wide as infrastructure, real estate development, and health care to make investments
- PIF and its portfolio companies, along with the Saudi private sector, will have access to a variety of investment opportunities in Egypt
Business
Elon Musk accuses Twitter of fraud as court battle heats up
The court battle between Elon Musk and Twitter heats up as the billionaire Tesla boss accuses it of fraud, alleging...
- Musk has argued in the filing to a court that the number of users actually shown advertising on the platform is about 65 million lower than the firm's 238 million figure
- Twitter in turn has accused Musk of fabricating a story to escape a merger agreement that he no longer found attractive
Analysis
French business ties build on Saudi mega projects
Recent strategic Saudi-French partnership deal becomes crucial as Paris, with its expertise in key sectors, may help the Kingdom in...
- Recent strategic Saudi-French partnership deal becomes crucial as Paris, with its expertise in key sectors, may help the Kingdom in achieving the goals set under Vision 2030
- Saudi Arabia is a new El Dorado for business with projects such as Neom, Al Ula, Read Sea and others, says Bertrand Besancenot, former French ambassador in Riyadh
Economy
Jordanian Senate examines draft investment law
Jordan Senate's Finance and Economic Committee hosted an expert in economic affairs at the National Democratic Institute (NDI), to look...
- Jordan Senate's Finance and Economic Committee examines the draft law regulating the investment environment in the country.
- Investment-related laws should streamline business procedures, economic activities, spur investment and enhance competitiveness of the economy
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Company News
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Subway to sell for US$9bn
Business
ASPACE to set up Saudi’s first satellite manufacturing unit
Riyadh, Saudi Arabia -- Saudi Arabia announced Thursday the completion of SAR 1 billion investment procedures by ASPACE, a Hong...
Business
How Saudi PIF is trying to build a post-oil economy
Riyadh, Saudi Arabia -- As global banking elites attend the Future Investment Initiative forum in Riyadh, a focal point of Saudi...
Business
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Business
Bank Albilad posts net profit
The bank’s January-September 2023 profit was $469 million.
- The bank reported a 3 percent year-on-year increase in gross operating income during January-September 2023 period.
- The rise in gross operating income was mainly due to higher net income from investing and financing assets.
Business
Elon Musk teases audio and video calls at X
"Early version of video and audio calling on X," Musk wrote in a post that contained a screen capture showing...
- Musk announced in August that voice and video calls were in the works at X in what was seen as a step towards turning the former Twitter into an "everything app"
- The calling features of X, previously known as Twitter, would work on iOS, Android, Mac and PC systems, and no phone number would be needed, he said at the time
Business
Volvo Cars posts profit
Its operating profit shot up to US$400m for the third quarter.
- The car maker reported an operating profit of 4.5 billion kronor ($400 million) for the third quarter -- up from two billion kronor a year earlier
- Volvo Cars saw a more than fourfold increase in net income for the period, reaching 3.2 billion kronor, compared to 665 million for the same period a year before