Bahrain and France sign MoU to boost tourism education
Lyon, France--Vatel Hotel and Tourism Business School Bahrain signed a memorandum of understanding (MoU) with EKLYA School of Business in...
Business
Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...
Business
Business
Twitter’s stock climbs up after hedge fund bets against Musk
Twitter shares jumped Wednesday after a hedge fund revealed it had taken a stake in the firm based on its...
- The suit filed in the US state of Delaware urges the court to order Elon Musk to complete his deal to buy Twitter
- Last week, Tesla boss pulled the plug on the deal, accusing Twitter of "misleading" statements about the number of fake accounts
Business
Netflix partners with Microsoft to offer cheaper streaming plan
The ad-supported subscription will be in addition to the three options already available, the cheapest being $10 per month in...
- The ad-supported subscription will be in addition to the three options already available, the cheapest being $10 per month in the United States
- Microsoft will be responsible for designing and managing the platform for advertisers who want to serve ads to Netflix users
Business
Select Group buys hotel in UK
The purchase is part of Dubai-based firm's expansion plan.
- The acquisition is an important part of Select Group's diversification and growth strategy
- Select Group has a portfolio of premium residential, commercial and mixed-use developments in the UAE and Europe
Business
Creator economy rides on NFTs for growth, expansion
Blockchain technology has put creators at the center and allows them to capture and distribute their value efficiently, safely and...
- Due to high engagement yet low revenues on social media platforms, many creators are looking for new ways to monetize, says Franck Mandon, COO of the MILLION platform
- With a roughly US$ 20 bn market value, it's the fastest-growing sort of small business, with each creator operating more like a startup than an individual, he adds
Business
AD Ports, Hayat Biotech ink deal
AD Ports to support Hayat' global logistics and distribution.
- The partnership will help facilitate Hayat Biotech’s efforts to set up manufacturing centers around the globe.
- The deal encapsulates shipping of strategic construction supplies, including containers, machinery, raw materials.
Economy
Libya’s National Oil Corporation lifts force majeure at key terminals
Force majeure is a legal measure allowing companies to free themselves from contractual obligations in light of circumstances beyond their...
- Its latest such move had been in late June, when the NOC said Libya had foregone some $3.5 billion due to a blockade of eastern oil facilities since mid-April.
- The blockade on the oil facilities was enforced by groups demanding Dbeibah's departure and a handover to the rival administration of Fathi Bashagha.
Business
EGA, K Line green pact
They will work on projects to decarbonize bulk cargo shipping.
- Focus of agreement on development and implementation of new marine decarbonisation technologies suitable for EGA’s bulk cargo shipping routes.
- Solutions are likely to include kite systems, alternative fuels and CO2 capture technologies.
Business
ADDED, MADE to support sustainable growth, Industry 4.0 applications
ADDED and MADE will collaborate to build the technical capabilities of the industrial workforce.
- ADDED and MADE will collaborate to build the technical capabilities of the industrial workforce
- The cooperation with MADE shows ADDED’s efforts to enhance the entrepreneurship ecosystem
Business
GCC citizens look to pour investment in UK real estate
GCC nationals are expected to pour in investments in the UK real estate market in spite of global inflation, supply-chain...
- According to a May report by property consultancy Knight Frank, Gulf-based high-net-worth families have returned to property investments in recent months
- GCC investors are leveraging a weak pound to buy assets in the UK's luxury property market after the pound fell to its lowest level against the dollar since March 2020 in June
Business
Tokyo equities climb up ahead of key US inflation report
Tokyo stocks opened higher on Wednesday ahead of a key US inflation report and with worries growing over rising Covid-19...
- Wall Street stocks ended lower overnight as markets brace for a potentially grim US inflation report
- Investors fear that another report showing hot inflation will lead the Federal Reserve to double down on large interest rate hikes
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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
Bahrain and France sign MoU to boost tourism education
Lyon, France--Vatel Hotel and Tourism Business School Bahrain signed a memorandum of understanding (MoU) with EKLYA School of Business in...
Business
Company News
TAQA H1 net income $3.67bn
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GIS profit climbs in H1
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Turkey’s Atis Yapi opens Dubai office
This is the real estate giant's first office in the UAE.
Business
Saudi Arabia’s economy to grow 3.2% from 2023-2026: Moody’s
Riyadh, Saudi Arabia -- Saudi Arabia’s economy is expected to grow by 3.2 percent on average between 2023 and 2026,...
Economy
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Business
Nokia to slash 14,000 jobs
It took the decision after posting a drop in Q3 profits.
- The company, according to its CEO, saw saw an increased impact in Q3 on business from the macroeconomic challenges
- Its savings program is expected to reduce the firm's employees to 72,000, reducing costs by up to $1.14 billion by 2026
Business
Netflix subscriber base swells with ads and password crackdown
Netflix shares leapt more than 12 percent to $43.31 in after-market trades on the Nasdaq exchange. The streaming service said...
- The leading streaming service said it is increasing the price of its basic plan in the United States to $11.99 monthly and its premium plan to $22.99
- Netflix reported a profit of $1.68 billion on revenue of $8.5 billion in the quarter, beating market expectations with its earnings figures
Markets in retreat on growing fears of Middle East war
With Benjamin Netanyahu building up a huge force ahead of an expected land incursion into Gaza, Iran has warned of...
- The prospect of an all-out war pushed oil prices up Wednesday, though Washington's decision to suspend some sanctions on Venezuelan output tempered the gains
- Risk aversion among traders was increased by concerns the Federal Reserve would hike interest rates again, or at least keep them elevated for an extended period