US defends forcing sale of TikTok app
TikTok's suit argues this violates First Amendment rights of free speech.
Business
Boeing to plead guilty to criminal fraud charge stemming from 737 Max crashes
Boeing agreed to plead guilty to a criminal fraud charge tied to the fatal 737 Max crashes, the Justice Department...
Business
Market Report
Saudi and UAE stock markets end the week lower
The Saudi and UAE stock markets ended the week lower as concerns about slowing global economic growth impacted investor sentiment....
- Saudi and UAE stock markets ended the week lower, following Asian markets
- Concerns about slowing global economic growth impacted investor sentiment
Arts & Culture
Jeddah Season 2022 concludes, 6m visitors attend events
Jeddah Season 2022 lasted for 60 days and was full of exciting shows, programs, activities that took place in 13...
- Jeddah Season this year lasted for 60 days and it was full of exciting shows
- The shows, programs and activities took place across 13 locations in Jeddah
Business
‘Technology has to fix fake news problem’
Faisal Abbas, editor of Arab News, believes that it is almost impossible that journalists alone can fix the problem of...
- He believes that fake news has always existed since time immemorial, and that social media quickened its spread around the globe
- He feels that while technology can deduce manipulation and flag it, media around the world ought to combat fake news too
Business
Saudi Arabia to build first carbon-free smart city
AlNama smart city being developed in Saudi Arabia will be a zero-carbon community, according to the Dubai's URB entrusted with...
- Spread over an area of 10 square kilometers in Riyadh, the hospitality hub will create around 10,000 jobs including green-tech industries to create a ‘green circular economy’
- The project is planned to provide 11,000 residential units and an eventual population of 44,000 people
Business
Equity markets mixed as eurozone inflation hits record
Wall Street stocks shrugged off early weakness to begin the second half of 2022 on a solid note Friday, but...
- Investors are coming off the worst six-month start to a year for the S&P 500 since 1970
- The ECB stated last month that it will deliver its first interest rate hike in more than a decade in July to combat inflation
Business
Jewels of Emirates Show features 20 UAE and international designers
The third edition of The Jewels of Emirates Show, UAE’s inaugural event specializing in diamond jewelry, gold, silver and luxury watches...
- The four day event is organized by Expo Centre Sharjah with the support of the Sharjah Chamber of Commerce & Industry.
- The show has numerous special surprises for its visitors, including valuable gold, jewelry gifts and vouchers up to 1000AED.
Business
Metaverse mass adoption may be years away, says Borget
The metaverse version -- where players largely do the same thing but can earn cryptocurrency rewards and buy extra kit...
- Borget is co-founder of The Sandbox, a platform that began as a game for mobile phones and PCs but is transforming itself into a virtual world
- Brands like Gucci and Adidas, financial firms Axa and HSBC, and Warner Music are among those who have chosen to set up shop in The Sandbox
Geostrategy
UAE, Cyprus to strengthen relations in multiple sectors
Anwar Gargash, Diplomatic Adviser to UAE President, discussed developing ties across various domains with Minister of Foreign Affairs of the...
- The two reviewed means to enhance cooperation to promote progress, prosperity.
- They also discussed various developments in the regional and international arenas.
Economy
Free trade pact with UAE will help Indonesia, says envoy
The Comprehensive Economic Partnership Agreement (CEPA) signed between Indonesia and the UAE on Friday will bring economic prosperity to a...
- The trade pact is expected to boost imports of petrochemicals from the UAE to Indonesia
- Indonesia imports around two million tonne of petrochemicals annually from the global market
Economy
Abu Dhabi Industrial Strategy to boost growth, says Dr Al Jaber
UAE Minister of Industry and Advanced Technology Dr Sultan bin Ahmed Al Jaber said the country continues to empower the...
- UAE empowers the industrial sector and increase its competitiveness by leveraging its resources, advantages and capabilities
- The strategy will support national industrial growth, nurture and empower Emirati talent, create a smart circular economy
US defends forcing sale of TikTok app
TikTok's suit argues this violates First Amendment rights of free speech.
Business
Company News
Latest News
Abu Dhabi International Airport records 29.3% jump in Q3 passenger traffic
Abu Dhabi, UAE--Abu Dhabi International Airport has posted a 29.3 percent jump in passenger traffic for the third quarter of...
Business
Technology is a catalyst for recycling industry: Expert
By understanding and increasing recycling, we can offset the environmental effects of using new, virgin materials, Pranshu Singhal, founder of...
Interview
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Business
GFH Capital mulls listing on Saudi market, says CEO
RIYADH, SAUDI ARABIA - GFH Capital is considering the offering of its unit in Saudi Arabia on the Tadawul. GFH...
- The group is listed on the stock exchanges of Bahrain, Dubai, Abu Dhabi and Kuwait.
- The group is continuing with fulfilling the regulatory requirements prior to listing.
Business
Eni Q3 profit drops
This drop is smaller than the 31 percent fall in Q2.
- Adjusted net profit -- a figure closely watched by the markets because it excludes exceptional items -- also fell, by 51 percent to US$1.9 billion (1.81 billion euros).
- The group's turnover fell 40 percent in the three months to US$23.5 billion (22.31 billion euros), well below analysts' expectations of US$34.4 billion (32.58 billion euros).
Business
Equinor profits tumble
The drop was due to sharply lower gas prices and offshore wind problems.
- Adjusted earnings, which excludes certain exceptional elements, fell by 67 percent from the same period last year to $8.0 billion.
- Revenue came in at $26 billion, a drop of nearly $18 billion from last year. Net profit plunged 73 percent to $2.5 billion.