Troubled Boeing faces investors and awaits strike vote
Boeing, the beleaguered aviation giant announces what is expected to be its biggest quarterly loss in four years, and striking...
Business
US considering Google breakup following monopoly ruling
The US Department of Justice (DOJ) made recommendations for Google’s search engine business practices on Tuesday, according to US media....
Business
Business
Dubai Chambers gets new CEO and President
Dubai Chambers has announced a leadership change, with Hamad Buamim, President and CEO, moving on after 16 years of service....
- He replaced Hamad Buamim, who was the President and CEO of Dubai Chambers for past 16 years.
- Under Buamim, the membership of Dubai Chambers by over four times from 80,000 to over 320,000.
Geostrategy
Turkey to pay for some Russian gas in rubles, says Erdogan
President Recep Tayyip Erdogan has confirmed that Turkey will start paying for some of its Russian natural gas imports in...
- Neither Erdogan nor Russian officials have said what portion of the gas will be covered by ruble payments
- Russia accounted for about a quarter of Turkey's oil imports and 45 percent of its natural gas last year
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
Troubled Boeing faces investors and awaits strike vote
Boeing, the beleaguered aviation giant announces what is expected to be its biggest quarterly loss in four years, and striking...
Business
Company News
Latest News
Are neobanks challenging traditional players in UAE?
While the digital revolution continues to unfold, the core of customer trust and regulatory frameworks stays unshaken, shaping the future...
Business
UAE Islamic Treasury Sukuks auction is a tremendous success
ABU DHABI, UAE - The United Arab Emirates, represented by the Ministry of Finance (MoF) as the issuer, in collaboration...
Business
SPCC signs two solar power purchase pacts with 1500MW capacity
Riyadh, Saudi Arabia - In a step towards bolstering Saudi Arabia's renewable energy initiatives, the Saudi Power Procurement Company (SPPC)...
Business
Most Read
Business
Contracts worth $2.93bn signed at Taif Investment Forum
Taif, Saudi Arabia -- Several investment contracts for projects in Taif Governorate, worth over SAR11 billion ($2.93 billion), have been...
- The contracts stipulate, among others, the establishment of the first phase of the space science fiction city Mars War, at a value of SAR 5 billion.
- Also included is the establishment of an emergency information center, together with China Mobile company, at a value of SAR2 billion.
Business
Record number of patent applications filed globally in 2022, says WIPO
GENEVA, SWITZERLAND - Global patenting activity soared to new records in 2022, fueled by Indian and Chinese innovators, but an...
- China, the US, Japan, Republic of Korea and Germany were the countries with the highest numbers of patent filings in 2022.
- innovators from around the world submitted 3.46 million patent applications in 2022, marking a third consecutive year of growth.
Business
AD Ports Group acquires 10 offshore vessels for $200 million
Abu Dhabi, UAE -- AD Ports Group (ADPORTS) has purchased 10 offshore vessels for $200 million that will bolster offshore...
- The investment in the diversified fleet with an average age of around nine years is significantly less than the industry average.
- All ten vessels are expected to be delivered in Q4 2023, with financial consolidation taking place from Q1 2024 onwards.