Apple makes changes to App Store after EU warning
From the autumn, Apple said developers in the EU "can communicate and promote offers for purchases" wherever they want, for...
Business
World’s richest 1% gained $40 trn in a decade: Oxfam
Paris, France - The world's richest one percent increased their fortunes by a total of $42 trillion over the past decade,...
Business
Business
Israel PM to seek French intervention in gas row with Lebanon
Israeli Prime Minister Yair Lapid makes his first foreign trip as premier on Tuesday to Paris, where he will ask...
- Lebanon rejects Israel's claim that the Karish gas field lies within its territorial waters
- Lapid took over the premiership on Friday following the collapse of Israel's coalition government
Business
Innovest of KSA exits Misk Tarout
The Saudi firm earned $8m in profit in the last three months.
- The Alkhobar-based real estate firm confirmed its profit from the exit process will be calculated in the company’s financial statements for the second quarter of 2022
- The exit will also enhance its direction in implementing targeted profitability and growth plans, CEO Essam Bukhamseen said
Business
Mecca businesses see hajj boom ending pandemic slump
Two years of drastic restrictions on the number of pilgrims emptied shops and hotels across the Saudi Arabian city of...
- Two years of drastic restrictions on the number of pilgrims emptied shops and hotels across the Saudi Arabian city of Mecca
- Haj and Umrah generate about $12 billion (11.5 billion euros) annually, keeping the economy humming in Mecca
Business
MENA gaming sector plays well with new technologies
The region's gaming industry is estimated to be worth $5 billion by 2025 with Saudi Arabia and the UAE leading...
- The region's gaming industry is estimated to be worth $5bn by 2025 with Saudi Arabia and the UAE leading the growth closely followed by Egypt and Qatar
- Although a spike in gaming consumption was driven by the pandemic, sustained growth is expected owing to a combination of factors, says market players
Business
European stocks surge Monday after nosediving last week
Europe's stocks recovered somewhat Monday as investors tentatively regained some optimism following the heavy losses in the financial markets last...
- London stocks won 1.1 percent at midday, while Frankfurt and Paris gained 0.5 percent and 1.0 percent respectively.
- Markets have suffered sharp losses in recent weeks on fears that global rate hikes -- aimed at fighting soaring inflation.
Economy
IMF authorities in Tunisia to discuss bailout package
An IMF team said in March that the country faced "major structural challenges", with low growth and investment, along with...
- Tunisian central bank's press office told AFP that the two-week visit would involve officials from the bank and the finance ministry.
- The North African country, the birthplace of the 2011 Arab Spring uprisings, has been suffering under a grinding economic crisis.
Economy
CEPA with India, Israel, Indonesia to help UAE economic growth
The comprehensive economic partnership agreements (CEPA) signed by the UAE with India, Israel and Indonesia this year will help the...
- Comprehensive economic partnership agreements to help UAE's economy's growth by 2.6 percent by 2030
- The UAE is holding talks with several other countries for signing similar agreements
Business
Turkish Airlines flights at pre-pandemic conditions
Turkish Airlines has announced that flights to Saudi Arabia have resumed to pre-pandemic conditions and Saudi citizens will now be...
- Turkish Airlines announces that flights to Saudi Arabia have resumed to pre-pandemic levels
- The airlines said that from June 20, 2022 the restrictions set by Türkiye due to COVID-19 has been lifted
Business
Iran, Russia, Turkey considering joint car design and production
Iran and Turkey share a land border, while Russia shares a maritime border with Iran and Turkey across the Black...
- The proposed cooperation on automobile constriction between the three nations could progress rapidly.
- Numerous car makers have stopped sales of their cars or parts to Russia since it sent military to Ukraine.
Economy
Dubai Supreme Council moots monitoring panel for petroleum trading
Dubai Supreme Council of Energy on Monday discussed establishing a permanent committee to monitor petroleum product trading in Dubai and...
- At its 71st meeting, the Council said that in 2021, savings were equivalent to 6.4 terawatts of electricity, approximately 12.5 percent of business as usual.
- Since 2011, demand-side programs have contributed to avoiding 14.1 million tons of carbon dioxide emissions, saving nearly AED9 billion.Â
Apple makes changes to App Store after EU warning
From the autumn, Apple said developers in the EU "can communicate and promote offers for purchases" wherever they want, for...
Business
Company News
Sukoon Insurance sets up OIWSS
Business
Latest News
Hamriyah Freezone Authority, Amazon UAE ink pact for logistics center
SHARJAH, UAE - Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics center...
Business
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Business
Lebanon court orders ex-car boss Ghosn out of Beirut home
Ghosn and his wife must "vacate the property... within a month", according to a copy of the decision seen by...
- Ghosn, who took up residency in the Beirut property after fleeing prosecution Japan in 2019, appealed the ruling on Friday, the Judicial official said
- Phoinos initiated the legal action in 2019 and has accused Ghosn of "trespassing on private property and living in the home without legal basis", the official added
Geostrategy
Iran, Russia to invest $38bn in developing INSTC
TEHRAN, IRAN – The Iranian head of Solyanka Port in Russia said that the International North-South Transport Corridor (INSTC) is a...
- The Iranian head of Solyanka Port spoke of the measures taken by the Islamic Republic of Iran Shipping Line (IRISL ) to develop the INSTC route.
- The IRISL group purchased 30 rail wagons, 5,400 containers and ordered the construction of 21 equipped vessels for strengthening maritime routes.
Business
Mubadala issues its first-ever Green Bond for $750m
Abu Dhabi, UAE - Mubadala has issued its first-ever Green Bond for US$750 million with a tenor of 10.5 years,...
- The order books peaked at more than $6 billion with robust demand from local, European, Asian, and American accounts
- The transaction further diversified Mubadala’s debt investors base by bringing in new investors, as a large proportion of demand came from new investors