Boeing suspends 777X flight tests after part failure, its latest quality control issue
New York, United States - Boeing has suspended flight testing of its new 777X wide-body jet after identifying the failure of...
Business
Oman, China bilateral trade grows by 8% to $15bn till May
 The volume of bilateral trade between the Sultanate of Oman and the People’s Republic of China has increased 8% in...
Business
Business
Three first phase buildings of Grove District sell out: Aldar
37% of sales were completed by non resident investors, 27% by expatriate residents, and the remainder by UAE nationals.
- 37% of sales were completed by non resident investors, 27% by expatriate residents, and the remainder by UAE nationals
- Due to increased demand, apartments at Grove Gallery Views are now available for purchase by buyers of all nationalities
Analysis
Apex banks under pressure to deliver lower inflation
The world economies are staring at the deep recessions and more financial instability. If inflation does not moderate significantly over...
- Global bond and equity markets have been particularly volatile in recent weeks, says the latest Qatar National Bank report
- The main driver of the volatility was the multitude of negative prints coming from inflation figures in key economies, it adds
Business
Top social media sites become haven for crypto fraud
Instagram accounts for 32% of all fraud cases on social media, followed by Facebook and WhatsApp as scammers find it...
- Most recorded crypto scams originated on social media as investment fraud
- Yet, few safeguards are in place to protect consumers from scams in the crypto market
Business
Twitter-Musk affair heads for bitter end
Courted and then jilted by the world's richest person, Twitter looks well-positioned to win a court battle with Elon Musk...
- Musk sent a letter to Twitter on Friday saying he was pulling out of controversial Twitter deal
- If Twitter wins in court, Elon Musk will, at a minimum, have to pay a few billion dollars in damages
Videos
Dubai tourism achieves robust growth in 2022
The sector recovered fast in the emirate after the easing of Covid-19 restrictions, registering a 203 percent increase in the...
- The increased flow of tourists helped improve hotel occupancy across the emirate, which reached 76 per cent during the period, the highest globally in Q1.
- Successful handling of the pandemic, a safe environment for travelers and world-class infrastructure have contributed towards the rising tourist inflow.
Business
AI set to play key role in fight against climate change
Most of the public and private sector leaders believe that Artificial Intelligence is a valuable asset in fight against climate...
- Most of the public and private sector leaders believe that Artificial Intelligence is valuable asset in fight against climate change but insufficient expertize remains a challenge
- A latest Boston Consulting Group report cited the limited availability of AI solutions as a roadblock. It also pointed to lack of confidence in AI-related data
Economy
Regional projects vital for future, says Jordan’s King Abdullah
King Abdullah spoke about Jordan's Economic Modernization Vision for the next decade which seeks to sustain recovery the COVID-19 pandemic....
- King Abdullah spoke about Jordan's Economic Modernization Vision for the next decade which seeks to sustain recovery from the COVID pandemic.
- The vision plans for the coming years by capitalizing on opportunities in the Kingdom, especially amid the impact of the Ukrainian crisis.
Business
Twitter-Musk affair heads for bitter end
Elon Musk's pursuit of Twitter was a melodrama from beginning to end -- a volatile courtship between a mercurial billionaire and...
- That relationship -- an obvious love-hate affair from Musk's side -- now seems set to end in an acrimonious divorce
- Twitter's chairman tweeted that the company will pursue legal action to enforce the deal, setting up a pricey showdown as the divorce heads to court
Geostrategy
UAE takes part in G20 Foreign Ministers’ meeting in Indonesia
UAE Minister of Foreign Affairs and International Cooperation Sheikh Abdullah bin Zayed Al Nahyan takes part in the G20 Foreign...
- The G20 foreign ministers meeting is keen to tackle global challenges to achieve stability and prosperity
- Such meetings help in promoting international cooperation to achieve sustainable development goals
Business
Metaverse is in the making since 90s: Expert
As a multidimensional world extending the physical realities of our current 4D world, it is rather a product of the...
- Metaverse is the product of a several waves of digitization and internet development since the 90s.
- Metaverse will create new opportunities for new services and, in fact, new activities altogether.
Boeing suspends 777X flight tests after part failure, its latest quality control issue
New York, United States - Boeing has suspended flight testing of its new 777X wide-body jet after identifying the failure of...
Business
Company News
Subway to sell for US$9bn
Business
Latest News
e& capital invests in Maxbyte
Business
Meta releases advertisement-free plan for users in Europe
"To comply with evolving European regulations, we are introducing a new subscription option in the EU, EEA (European Economic Area)...
Business
Britain grants 27 new oil and gas exploration licenses in North Sea
London, United Kingdom - Britain on Monday awarded 27 new licenses for oil and gas exploration in the North Sea as...
Economy
Most Read
Business
SABIC Agri-Nutrients profit falls
SABIC Agri-Nutrients Q3 net profit fell 55% to $280 million.
- Revenue fell 40 percent year-on-year (YoY) to US$712 million (SAR2.67 billion) in the three months ended September 30, 2023.
- Net profit dropped 66 percent to US$714 million (SAR 2.68 billion) in the first nine months of 2023 compared to US$2 billion a year ago.
Business
AlUla signs pact with Six Senses
Six Senses AlUla will open in Saudi Arabia in 2027.
- Luxury hotel Six Senses AlUla will span across 1,200,000 square meters and will be built within a natural oasis adorned with lush palm groves.
- It will feature 100 guest villas and 25 residences, which will be designed to seamlessly integrate with AlUla's breathtaking natural landscape.
Business
stc Group posts 9-month revenue
stc's revenue was $14.5 billion in January-September 2023.
- Gross Profit for the period of 2023 reached US$7.7 billion (SAR28,875 million) with an increase of 1.8 percent compared to the same period last year.
- Earnings before Interest, taxes, zakat, depreciation and amortization for the period reached $5 billion with a decrease of 2.35 percent compared to Jan-Sept 2023.