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
Crypto crime drops 19.6% as digital ecosystem matures
Advanced blockchain analysis tools, such as those provided by Chainalysis, are empowering law enforcement agencies and enterprises to counter the...
Economy
Business
‘GCC inflation still remains lesser than UK’
The tighter monetary policy from US Fed and the continued raising of interest rate will have an impact in the...
- The tighter monetary policy from US Fed and the continued raising of interest rate will have an impact in the GCC, says Simon Ballard, chief economist of First Abu Dhabi Bank.
- Ballard believes GCC governments will need to address the underlying levels of spending support for consumer through continued stimulus packages
Business
Panasonic to build $4bn electric vehicle battery plant in US
Japanese electronics giant Panasonic said Thursday it will spend $4 billion to build a new battery factory in the United...
- The factory will be Panasonic's second electric car battery operation in the United States, joining its facility in Nevada
- The announcement comes with Tesla struggling to boost production, after unveiling two new factories in Germany and the US
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
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
Company News
Vietnam’s VNG files for US IPO
Business
Latest News
Jadwa buys stake in Gissah
Business
DIEZ reports 5% rise in revenue
Business
Saudi Arabia’s Q3 real GDP falls by 4.5% on decreased oil activities
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) decreased by 4.5 percent in the third quarter of...
Economy
Most Read
Business
Stocks mixed, oil subdued as traders eye Mideast and central banks
There is a sense of relief on trading floors that the Israel-Hamas conflict has been contained so far, with optimism...
- With worries about supplies from the crude-rich Middle East subsiding for now, both main oil contracts edged up slightly Tuesday
- Data showing China's factory sector activity shrank in October weighed on sentiment, dragging on Hong Kong and Shanghai
Business
EITC Q3 profit soars 57.7%
Its revenues grew 3.7% to US$896 million in the quarter.
- The company posted a 57.7% jump in net profit to $137.23m, its highest quarterly level over the last three years
- The company has been pushing further the deployment of 5G network which reached 98.5% coverage
Business
Politics in fashion: Luxury brands react to Gaza crisis
From L'Oréal's controversy involving model Amena Khan to Chanel's significant financial pledge, the fashion industry is deeply entwined in political...
- From L'Oréal's controversy involving model Amena Khan to Chanel's significant financial pledge, the fashion industry is deeply entwined in political discourse amid Gaza crisis.
- As luxury brands navigate the delicate balance amid the ongoing Israel-Hamas conflict, the role of social media influencers and corporate philanthropy comes to the forefront.