Former US treasury secretary says preparing buyout of TikTok
Washington, US - Former US Treasury Secretary Steven Mnuchin on Thursday said he is putting together a team of investors to...
Geostrategy
UAE, Hungary ink pact to enhance trade, investment ties
ABU DHABI, UAE – The United Arab Emirates and Hungary have signed an economic cooperation agreement aimed at stimulating trade...
Geostrategy
Geostrategy
Israel to pay housing allowance to South Lebanon Army veterans
Israel on Sunday approved housing allowances for South Lebanon Army (SLA) veterans residing in the Jewish state, providing "historic justice"...
- Israeli army said the decision of housing allowances for South Lebanon Army had been four years in the making
- Many SLA veterans say they feel Israeli authorities have abandoned them in their adopted home, often working in low-paying jobs and unable to return to Lebanon
Business
Yiwu Market of Dubai ready to welcome consumers
Yiwu Market of Dubai, the first smart free zone market in the region, will open tomorrow, aiming to revolutionize the...
- Yiwu Market is the first phase of the Dubai Traders Market in the Jebel Ali Free Zone (Jafza)
- The market comprises 324 warehouses spread across two floors
Business
UN meet aims to restore faltering health of global oceans
A long-delayed UN conference on how to restore the faltering health of global oceans kicks off in Lisbon Monday, with...
- The conference will see a push for a moratorium on deep-sea mining of rare metals needed for a boom electric vehicle battery construction
- Microplastics found inside Arctic ice and fish in the ocean's deepest trenches are estimated to kill more than a million seabirds
Business
Qatar warns of ‘legal action’ against use of World Cup logo
Qatar warned the general public Sunday against the use of unauthorized vehicle license plates with the FIFA World Cup Qatar...
- Fifty license plates bearing the World Cup logo were put up for auction in May, with the most expensive one going for 1.8 million Qatari riyals ($494,000)
- In May, the Qatari authorities said five people were arrested "for promoting the sale of clothes bearing the FIFA World Cup Qatar 2022 logo without obtaining prior approval
Videos
UAE’s NFT market witnesses rapid growth
Several crypto platforms have recently launched dedicated NFT marketplaces. TRENDS tries to find out which business and economic sectors have...
- Many NFT investors are making Dubai their new home every day because of its zero percent personal income tax regime, amongst other big favourable factors.
- Several crypto platforms have recently launched dedicated NFT marketplaces. TRENDS tries to find out which sectors have been covered by NFTs in the UAE.
Business
Hong Kong leads rally across Asian markets
Shares rose more than three percent in Hong Kong on Monday morning, in line with a rally across Asian markets,...
- The Hang Seng Index jumped 3.15 percent, or 684.47 points, to 22,403.53 -- its highest level since early April
- Macau casino operators were also on the front foot on hopes for a possible announcement on the easing of Covid containment measures
Business
European monetary policy: Same hat doesn’t fit all
The Europe's apex bank is expected to gradually tighten monetary policy whilst using asset purchases to support weaker countries in...
- The European Central Bank has the impossible task of setting a single monetary policy that is suitable for a diverse mix of countries in very different situations, says QNB
- The ECB will gradually tighten monetary policy while using asset purchases to support weaker countries in the periphery in a bid to avoid a full-blown resurgence of the Euro
Business
UAE banks recover, but customers remain unsatisfied
The sector, according to a KPMG report, scores low on customer satisfaction due to operational issues, lack of timely support,...
- The sector, according to a KPMG report, scores low on customer satisfaction due to operational issues, lack of timely support, long waiting times and lack of feedback.
- The most negative net sentiment has been associated with payment methods such as debit cards, credit cards, and loans, highlights the latest KPMG report
Business
SVC to invest in Venture Debt Fund
The fund will offer venture debt tools to startups and SMEs.
- SVC CEO Nabeel Koshak said the investment is part of the company's program to invest in funds.
- Koshak said funds offering venture debt tools provide financing solutions for startups, and SMEs, known for their quick growth rates.
Business
Sharjah a vital tourist destination, says business body
The Sharjah Chamber of Commerce & Industry organized a business meeting with the Embassy of the Republic of North Macedonia...
- Sharjah Chamber of Commerce & Industry organizes a meeting with North Macedonia Embassy in the UAE
- In the meeting with a North Macedonia delegation, SCCI promotes the emirate’s tourism potential
Most Read
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
Former US treasury secretary says preparing buyout of TikTok
Washington, US - Former US Treasury Secretary Steven Mnuchin on Thursday said he is putting together a team of investors to...
Geostrategy
Company News
Eshraq Q2 profit $9.79m
Business
Yahsat H1 net income up 5%
Business
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QEWC reports 12% profit jump
Business
Non-oil revenue boost shows GCC’s financial wisdom
The GCC nations exemplify financial prudence. Their continuous efforts to boost non-oil revenues, reform tax policies, and modernize and digitize...
Business
Solana Foundation joins DMCC Crypto Center as ecosystem partner
DUBAI, UAE: DMCC – the world’s flagship free zone and Government of Dubai Authority on commodities trade and enterprise – has...
Economy
Dubai’s economy grows 3.2 percent in H1 2023
DUBAI, UAE – The Emirate's economy grew 3.2 percent in H1 2023 to reach US$60.9 billion (AED223.8 billion). The performance...
Economy
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Business
Phoenix set for IPO on ADX
It is the first crypto entity to be listed on a Middle East bourse.
- The firm specialises in a range of services, from high-performance computing to crypto and cloud mining, data centre hosting, crypto trading, and crypto mining products
- The IPO on Abu Dhabi Securities Exchange would be the first privately owned crypto and blockchain entity to be listed on a Middle East stock market
Business
Qatar banker Sheikh Jassim withdraws bid to buy Man Utd
Sheikh Jassim was among the front-runners to buy Manchester United after several rounds of bidding earlier this year, but the...
- British billionaire Jim Ratcliffe is now set to secure a 25 percent stake in the club for around $1.7 billion
- Al Thani's bid was for full control of Manchester United and promised to clear the club's borrowings
Geostrategy
IMF agrees on rise in funding, extra Africa board seat
The IMF announced member nations agreed to increase their contributions to the global lender and give sub-Saharan Africa a third...
- The quotas, which are based on the size of a country's economy, determine how much funding a nation should provide to the IMF.
- IMF chief Kristalina Georgieva and World Bank President Ajay Banga used this week's meetings to urge members to step up funding.