Boeing lifts wage hike to 30%
The 30% general wage hike improves upon the 25% in the earlier offer.
Business
Apple in talks to invest in OpenAI, creator of ChatGPT: report
Washington, United States - iPhone juggernaut Apple is in talks to invest in OpenAI, the creator of ChatGPT and the biggest...
Business
Business
Al Zamil buys tower for $133m
The saudi developer bought the residential tower in Makkah.
- The company aims to provide high quality development services for luxury housing solutions to support the accommodation and hospitality sector
- Masar Makkah was developed by Umm Al-Qura Co. for the development and construction of services and amenities to serve Makkah residents
Sharjah Airport handles 6 million passengers in H1 2022
The airport also saw considerable growth in the number of flights, with a total of 41,189 aircrafts operating in H1...
- The airport also saw considerable growth in the number of flights, with a total of 41,189 aircrafts operating in H1 this year
- In H1 2022, the airport handled over 96,000 tons of cargo compared to 63,844 tons the previous year, accounting for an increase of 50.39 percent
Business
JCDC, Cruise Saudi to develop Jeddah Central Project design
The Marina and terminal will contribute to transforming Jeddah’s coastline.
- The Marina and terminal will contribute to transforming Jeddah’s coastline
- The project will also foster growth of the Kingdom’s marine tourism industry
Business
Algeria discovers oil and gas fields in Sahara desert
Algerian state oil firm Sonatrach announced on Monday new oil and gas discoveries in the North African country's Sahara desert,...
- The energy company said that gas deposits were found in the Illizi Basin
- On July 19, Eni, US major Occidental, France's Total and Sonatrach signed a $4 billion oil and gas production-sharing contract for the Berkine field
Business
Rockets hit Emirati-owned gas complex in north Iraq
Three Katyusha rockets hit a gas complex in Iraq's autonomous Kurdistan region on Saturday, a local official said, in the...
- In June, the site owned by UAE energy company Dana Gas was targeted three separate times by rockets that did not cause casualties or damage
- The gas field lies between the cities of Kirkuk and Sulaimaniyah, in a region administered by Kurdish authorities
Business
‘Mobile-first mindset’ rules companies in Middle East
With an average of 40 percent of sales taking place via mobile, a growing number of enterprise-sized brands see mobile...
- With an average of 40 percent of sales taking place via mobile, a growing number of enterprise-sized brands see mobile as a highly strategic acquisition and retention channel
- However, it’s not just about having a mobile app, it’s also about delivering an exceptional user experience and being able to integrate mobile with any other channels seamlessly
Opinion
‘Crypto winter’ fails to dampen confidence of investors
Even as the interest in crypto remains more or less steady, and investors are still keen to buy in, it’s...
- Blockchain technology and the digital asset ecosystem are here to stay, and investors aren’t deterred by the state of the market
- However, anyone looking to invest their hard-earned capital into crypto - particularly retail and first timers - must exercise caution
Economy
Bahrain joins UAE, Jordan and Egypt in industrial pact
Prime Minister of Egypt Mostafa Kamal Madbouly witnessed a signing ceremony Monday in Cairo that welcomed Bahrain as the fourth...
- The Industrial Partnership for Sustainable Economic Development was announced in the UAE on May 29, 2022 with an aim to empower their industrial sector.
- The plan was establish large joint industrial projects, providing private sector companies with opportunities for expansion and creating job opportunities.
Business
Al Seer targets 2-3m tons cargo
ASM manages 5 dry bulk and general cargo ships.
- Al Seer Marine is currently in negotiations for a long-term contract for carriage of 2 million tons annually.
- The company has short-term plans of acquiring 10 to 15 ships in 2022.
Business
Natural gas a weapon of war between Russia and Europe
Natural gas has emerged as a weapon of war between Russia and Europe since Moscow's February 24 invasion of Ukraine....
- On February 22, 2022, German Chancellor Olaf Scholz says he is suspending the Nord Stream 2 pipeline project with Russia.
- On March 23, Russian President Vladimir Putin bans European gas customers from paying their bills in dollars and euros.
Boeing lifts wage hike to 30%
The 30% general wage hike improves upon the 25% in the earlier offer.
Business
Company News
Latest News
ICIEC, SAPICO ink pact
Business
Elon Musk’s xAI to release first AI model to ‘select group’
WASHINGTON, US - Elon Musk said his new artificial intelligence company would release a new AI model on Saturday to a...
Business
AMF, State Bank of Pakistan to enhance cross-border payments
Abu Dhabi, UAE -- The Arab Monetary Fund (AMF) and the State Bank of Pakistan (SBP) have signed an MoU...
Business
Most Read
Apple sales lose ground
The tech giant said it made a profit of $23 billion.
- The tech giant said it made a profit of $23 billion on revenue of $89.5 billion, which was down slightly from the same period last year
- Apple chief executive Tim Cook said iPhone sales set a new record for its September quarter while money taken in from services hit an all-time high
Market Report
Gulf markets tumble amid rising geopolitical concerns
As the Gaza conflict intensifies, GCC equity markets face significant downturns, with Qatar leading the losses, while Saudi Tadawul secures...
- As the Gaza conflict intensifies, GCC equity markets face significant downturns, with Qatar leading the losses, while Saudi Tadawul secures year-to-date gains, says a report.
- Qatar Stock Exchange plans to shorten settlement cycles to reduce risk as Kuwaiti benchmarks and Abu Dhabi's FTSE ADX index falter, while Dubai market's positive run halts.
Business
Ducab, Somagec ink MoU
The MoU will enable UAE-based firm to enter Angolan market.
- Ducab Group already supplies its “Made in the UAE” products to 15 countries in Africa.
- It is constructing over 400 kilometers of 220kV transmission lines in Angola.