Durov: Father of 100 children is a mysterious and controversial Telegram founder
Paris, France - Russian-born tech entrepreneur Pavel Durov has founded wildly popular social networks, cryptocurrencies, amassed a multi-billion-dollar fortune and locked...
Business
Telegram chief Pavel Durov arrested at French airport: officials
Paris, France - French police arrested Telegram chief executive Pavel Durov on Saturday at an airport near Paris for alleged offences...
Business
Business
DFM welcomes listing of Union Coop
Dubai Financial Market (DFM) Monday welcomed the listing of Union Coop’s shares, becoming the first cooperative society in the UAE...
- Union Coop is the first cooperative society in the UAE to list its shares and Dubai Financial Market welcomes the step
- The listing supports the efforts of market participants to further develop Dubai's financial markets
Business
21,000 new companies join Dubai Chamber in H1 2022
Dubai Chamber of Commerce achieved record growth in new membership in the first half of 2022 as more than 21,000...
- A total of 2,326 ATA Carnets were issued and received by the Chamber in H1-2022, recording a 32 percent y-o-y increase.
- The number of e-transactions increased 10 percent over the same period to reach over 378,000.
Economy
DEWA commissions 11 substations in first half of 2022
Dubai Electricity and Water Authority (DEWA) commissioned a new 400/132 kV substation in Al Qusais Industrial Area 5, and 10...
- DEWA commissioned one 400/132 kV substation in Al Qusais Industrial Area 5 of Dubai in the first half of 2022
- Across Dubai 10 more 132/11 kV substations in different areas were commissioned in the first half of 2022.
Business
Healthcare giant Haleon worth $37bn
The company began trading in London on Monday.
- The new company -- which owns brands including Sensodyne toothpaste, pain relief drug Panadol and cold treatment Theraflu -- was worth lower than an expected £40 billion.
- GSK's share price tumbled 20 percent in early London trading following the demerger.
Business
Stocks gain as US report indicates fear of recession easing
Stocks rose Monday following a rally on Wall Street in response to data indicating US consumers remained resilient to surging...
- Still, investors continue to fret over the economic outlook, with Russia's war in Ukraine showing no sign of ending
- Policymakers have made it clear their main goal is bringing inflation down from a four-decade high, even if that stunts growth or causes a recession
Business
H&M to wind down operations in Russia to protest Ukraine invasion
H&M, which has operated in Russia since 2009, said it would reopen stores in Russia "for a limited period of...
- H&M, which has operated in Russia since 2009, said it would reopen stores in Russia "for a limited period of time to sell remaining inventory" as part of the exit process
- It said the entire wind-down was expected to cost the group around 2.0 billion Swedish kronor ($192 million), of which around 1.0 billion would have a cash flow impact
Business
UAE, France discuss diesel supply to Europe
Sheikh Mohamed's visit is expected to conclude with 'the announcement of guarantees given by the UAE on quantities of hydrocarbon...
- A key facet of the trip is likely to be the unveiling of "guarantees given by the UAE on quantities of hydrocarbon supplies to France"
- MOUs and contracts are also expected to be signed in the transport and waste treatment sectors during the three-day visit
Analysis
More deals in sight as UAE-France ties strengthen
The past years witnessed the signing of dozens of agreements and memoranda of understanding between the two countries in various...
- Relations between the UAE and France date back to establishment of the UAE Federation when some French firms such as 'Total' helped UAE explore oil
- The past years witnessed dozens of agreements and MoUs between the two countries in various economic, cultural, military and environmental fields
Business
Jordan tourism sector rides high on back of 1.9m visitors to kingdom
The tourism sector of the Jordanian economy has seen a huge growth, with more than 1.9 million visitors arriving in...
- Tourism Minister Nayef Al-Fayez described the situation as reassuring
- He said the return of expatriates was an important component of the country’s tourism economy and that tourism revenue was calculated by the Central Bank
Business
QIB posts profit of US$499m for first half of 2022
Total assets of the bank have increased by 4.8 percent compared to June 2021 and now stand at QAR 193...
- Total assets of the bank have increased by 4.8 percent compared to June 2021 and now stand at QAR 193 billion driven by the growth in investing activities
- Total Income for the six months’ period was QAR 4,284 million registering a growth of 4.2 percent compared to QAR 4,112 million for the same period in 2021.
Durov: Father of 100 children is a mysterious and controversial Telegram founder
Paris, France - Russian-born tech entrepreneur Pavel Durov has founded wildly popular social networks, cryptocurrencies, amassed a multi-billion-dollar fortune and locked...
Business
Company News
Latest News
Second quarter foreign investments in Saudi Arabia hit $666bn
Riyadh, Saudi Arabia -- Foreign investments in Saudi Arabia increased 4 percent year-on-year (YoY) to SAR 2.50 trillion ($666. 39...
Business
Toyota hikes annual profit forecast
The company plans a $13.9bn investment in a battery plant.
Most Read
Business
Al Hilal ranks among world’s 50 wealthiest clubs
European clubs owned by Arabs continue to dominate the rankings, with Sheikh Mansour bin Zayed-owned Manchester City standing at the...
- Paris Saint-Germain, owned by Qatar Sports Investments, came in third with a market value of US$1.14 billion
- Newcastle United, owned by Public Investment Fund, is at 11th spot with a market value of $687.57 million
Opinion
US curbs on Iran’s oil exports may hit global portfolios
The US tightening sanctions on Iranian oil could have a negative impact on individual and institutional investment portfolios by disrupting...
- The potential US sanctions on Iran's crude oil exports, due to its support for Hamas, could directly impact global portfolios, especially those with energy sector assets.
- Potential restrictions on Iran will present both challenges and opportunities for energy stocks, possibly prompting central banks to raise rates amid inflation concerns.
Business
Investors eye gold as safe haven amid Gaza tensions
The ongoing Gaza conflict has driven gold prices over $2,000/oz, highlighting the deep connection between geopolitical tensions and global financial...
- The ongoing Gaza conflict has driven gold prices over $2,000/oz, highlighting the deep connection between geopolitical tensions and global financial market reactions.
- The 'political reversal' scenario for the present Middle East developments involves potential involvement of Lebanon and Syria, while the 'oil crisis' scenario involves Iran.