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
Oil and gas industry hops on generative AI bandwagon
In recent years the downstream industry, which includes refineries that process crude oil into gasoline, has increasingly relied on so-called...
Economy
Easy Metaverse norms to keep region ahead
The Gulf countries still need to develop more laws since the use of Metaverse and Blockchain will expand in only...
- There is a need for assessing the role and impact of Metaverse and Blockchain in the GCC region, says MILLION CEO Julien Hawari
- GCC countries still need to develop more laws since the use of Metaverse and Blockchain will expand in only some regions, he adds
Business
Algeria discovers ‘important’ gas deposit in Sahara desert
Algerian state energy firm Sonatrach announced Monday the discovery of an "important" deposit of gas condensate in the Hassi R'mel...
- The deposit is estimated to have between 100 and 340 billion cubic metres of gas condensate
- In May, the Algerian firm signed a memorandum of understanding with Italian giant Eni to boost gas exploration in the North African country
Business
‘Not enough GCC women employed in STEM sector’
Christine Harb, CEMEA Vice President of Marketing at Visa, believes that the workplaces should offer the right flexible benefits for...
- Christine Harb, CEMEA Vice President of Marketing at Visa, believes that workplaces should offer the right flexible benefits for women to join
- The role of the women at the technological workplaces in the GCC is evolving with Metaverse, Harb said
Business
Oil prices climb up as Wall Street stocks post losses
Oil prices bounced and Wall Street stocks declined Monday, reversing the most recent trends as markets eye the end of...
- The broad-based S&P 500, which has fallen about 14 percent since the end of the first quarter, shed 0.3 percent on Monday
- Economists are increasingly pessimistic about the potential for US policymakers to engineer a "soft landing" as central banks tighten monetary policy
Business
UAE strengthening exhibition sector: Al Midfa at CEO Summit
The Expo Center Sharjah participated in the “Global CEO Summit 2022” to improve international cooperation, and forecast the future of...
- The summit is organized by the Global Association of the Exhibition Industry (UFI) in Hamburg, Germany from June 22 to 24.
- The Center stressed its presence at the summit reflects its keenness to follow up on the developments related to global exhibition industry.
Geostrategy
Saudi-Italian space agencies ink pact on cooperation
The Saudi Space Commission and the Italian Space Agency sign a memorandum of understanding for enhancing cooperation in the field...
- Saudi Space Commission, Italian Space Agency sign an MoU to enhance cooperation in space-related activities for peaceful purpose
- Federation of Saudi Chambers and General Confederation of Italian Industry ink an MoU to establish a joint Italian-Saudi business council
Business
Qatari private exports value surge by 46 percent in Q1 2022
Qatar Chamber (QC) said in its quarterly report that the export value of private sector in Q1 2022 hiked to...
- During Q1 2022, Asian countries (except GCC and Arab countries) received 50.4 percent of total exports valued QAR 3.89 billion.
- India was the top business partner receiving exports valued around QAR 1.79 billion representing 32.2 percent of total exports.
Economy
UAE’s Ministry of Energy and Infrastructure wins DACA Awards
The UAE Ministry of Energy and Infrastructure received the 'Sustainability Leader in Shipping' award and a 'Decarbonization Champion in Power...
- The UAE Ministry of Energy and Infrastructure was received the Sustainability Leader in Shipping award
- The ministry also got a Decarbonization Champion in Power Sector award during the Decarbonization and Climate Action Awards
Business
Chimera Capital launches two funds
The funds are Shariah-compliant and fully fungible exchange-traded funds.
- Both funds will be listed on Abu Dhabi Securities Exchange (ADX).
- The new Shariah-compliant ETFs will offer UAE investors direct access to US equity markets, further expanding Chimera’s product offering, the company said.
Business
1,600 African companies join Dubai Chambers since Oct 2021
Over 1,600 new African member companies have registered with Dubai Chambers since October 2021, growing 6.5 percent to reach 26,420...
- The number of African firms grew 6.5 percent to reach 26,420 today, the Chambers said.
- A total of 550 bilateral business meetings were held on the sidelines of Global Business Forum Africa last year,
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
Company News
BAE to acquire Ball Aerospace
Business
Latest News
DP World H1 EBITDA $2.6bn
Business
Air France-KLM posts profit jump
Turnover increased nearly seven percent to 8.7 billion euros.
Intel beats earnings expectations
Net income of US chip giant tallied $300 million.
Apple Watch models face US import ban in patent clash
Apple has been steadily ramping up fitness and health features with each generation of Apple Watch, which market trackers say...
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Business
Positive trial for Pfizer-BioNTech Covid-flu jab
Berlin, Germany - Germany's BioNTech and US pharmaceutical giant Pfizer on Thursday announced "positive" results from initial trials of their combined...
- The messenger RNA method made its debut with the Pfizer-BioNTech coronavirus vaccine, which was the first jab against Covid to be approved in the West in late 2020
- Pfizer and BioNTech first announced in November 2022 that they were planning to use the same technology to develop a combined Covid and flu vaccine
Business
Saudi Arabia’s Ministry of Investment inks 3 MoUs at FII7
RIYADH, SAUDI ARABIA – The Kingdom’s Ministry of Investment signed three memoranda of understanding (MoU) in the fields of biotechnology,...
- The MoUs related to the biotechnology and pharmaceutical sectors aim to explore, develop, manufacture and market a range of potential new medicines.
- The MoU of the financial services sector aims to provide an opportunity for investors to invest directly in key projects in line with the Saudi Vision 2030.
Business
TotalEnergies Q3 profit up 1.5%
The French energy firm earned a net profit of $6.7 billion.
- Oil and gas prices surged last year following Russia's invasion of Ukraine, leading to windfall profits at energy firms.
- While oil prices are still high in historical terms, the main crude oil contract was down 14 percent last quarter compared to the same period last year.