Toyota to invest US$2.2bn in Brazil
The automaker will beef up production of hybrid vehicles.
Business
Tesla stops production at German plant after suspected arson attack
Michael Stuebgen, interior minister for Brandenburg state, said that "if initial findings are confirmed, this is a perfidious attack on...
Geostrategy
Arts & Culture
Jeddah Season 2022 kicks off in Saudi Arabia
This year's Jeddah Season is expected to feature international events and artistic and theatrical performances, Arab and international art concerts,...
- Jeddah Season 2022 is expected to make Jeddah a permanent destination for tourism, entertainment, and events in the region
- The 60-day event will reportedly see 2,800 activities in nine main zones in the presence of Jeddah residents and visitors
Business
Rockets hit key oil refinery in Iraq, causes minor damage
Six rockets landed Sunday in northern Iraq's autonomous Kurdistan region, Kurdish counter-terrorism forces said, with "minor damage" reported at a key...
- Kurdish counter-terrorism forces said in a statement that six rockets fell near the Zab river in the Khabat district
- The attack which caused no casualties or damage was not immediately claimed by any organization
Infographics
What are the GCC’s top stock exchange constituents?
What are the top constituents of stock exchanges spread across the GCC countries? Here’s our infographic.
- Some constituents — publicly traded companies — of the MSCI World Index would be heavier than others
- And countries within the Gulf Cooperation Council have some of the biggest public companies in the world
Business
Finland firm scraps nuclear plant deal with Russia
Finnish-led consortium Fennovoima said on Monday it has terminated a contract with Russian group Rosatom to build Finland's third nuclear...
- The proposed 1,200-megawatt Russian-designed reactor was to be built in Pyhajoki, about 100 kilometres (60 miles) from the port of Oulu in northern Finland
- Two days before Russia's invasion of Ukraine, the Finnish government had said it was re-evaluating the security risks for the 7.5-billion-euro deal
Business
Kuwait rebuilding five commercial license centers across country
Kuwait’s Ministry of Public Works has announced it will be re-building five commercial centers across the country. Local media reports,...
- Hawally Center, Khaitan Center, Mansouriya Center, Al-Dhahr Center and Al Ayoun Center are spread across different governorates.
- Each building consists of a basement, a ground floor, first and second floors, and the roof.
Economy
Stock markets slide all across as Fed rate hike looms
Asian and European markets fell in holiday-thinned trade Monday following another tech-led rout on Wall Street, with focus on the...
- Trading floors around the world have been buffeted for months by a perfect storm of crises including China's lockdowns, surging inflation, Fed plans to hike rates
- However, with some commentators warning rates could go as high as three percent, there are also worries the Fed could be too heavy-handed and tip the US economy into recession
Analysis
Eid holidays boost Gulf tourism as COVID curbs ease
From overseas to the domestic circuit, the tourism industry in the Gulf Cooperation Council is witnessing a welcome resurgence, especially...
- Gulf citizens are looking to spend Eid al-Fitr abroad after being compelled to stay home for the past two years
- This year’s Eid al-Fitr holiday witnessed high occupancy in the UAE hotel sector, driven by strong domestic tourism demand
Business
Qantas to launch longest non-stop passenger flight
Qantas announced on Monday it will launch the world's longest non-stop commercial flight, with passengers set to spend 19 hours...
- Non-stop flights will start from Sydney by the end of 2025, it said, with long-haul trips later planned to include Melbourne
- Qantas has announced ordering 12 Airbus A350-1000 aircraft to operate the "Project Sunrise" flights to cities including London and New York
Business
EDB reaffirms its commitment to financial inclusion in the UAE
The Emirates Development Bank (EDB) has restated its commitment to financial inclusion in the UAE with a range of financial...
- EDB has reaffirmed that it is able to empower SMEs through direct or indirect financing, including a credit guarantee program
- It has launched new services that support financial inclusion, including its digital solution for SMEs and start-ups, which resulted in more than 1,000 new accounts being created
Business
NBA, NFL stars invest in Indian cricket franchise
US basketball star Chris Paul and American football players Larry Fitzgerald and Kelvin Beachum have invested in Indian Premier League...
- The three US athletes will be minority investors in the Royals, who won the inaugural edition of the Twenty20 tournament in 2008
- The IPL has grown to be the most popular franchise-format league for Twenty20, the shortest form of cricket
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Toyota to invest US$2.2bn in Brazil
The automaker will beef up production of hybrid vehicles.
Business
Company News
Latest News
ADNOC Gas signs deal with IOCL
Business
UAE, Egypt central banks ink currency swap deal
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) on Thursday...
Business
New update allows ChatGPT to use internet for fetching data
New York, US - The generative AI platform ChatGPT can now fetch data directly from the internet and gather up-to-date information...
Business
Most Read
Market Report
UAE markets top Arab stock exchanges in trading, says AMF
ABU DHABI, UAE - The financial markets of the United Arab Emirates topped the Arab stock exchanges during last week's...
- The AMF said that the UAE markets achieved monthly market gains of over US$6.2 billion.
- The fund said the market capitalization of the Saudi Financial Market reached US$2.97 trillion.
Business
Red Sea Global teams up with Bear Grylls Survival Academy
Riyadh, Saudi Arabia--Red Sea Global (RSG) will become the exclusive agent for Bear Grylls Survival Academy (BGSA) bringing the world-famous...
- The collaboration between the two promises to offer outdoor enthusiasts the opportunity to learn key team building, wilderness education and survival skills
- Red Sea Global looks to recurit and train local outdoor enthusiasts in the art of survival and expedition leadership, creating hundreds of jobs for Saudis
Technical glitch stifles production at Volkswagen
According to financial daily Handelsblatt, production came to a complete standstill in Wolfsburg and at the company's plants in Emden,...
- The disruption began at 12:30 pm (1030 GMT) and had still not been resolved by the evening, Volkswagen said
- The cause of the technical problems was not known but "an external attack is unlikely to be the cause", German automaker said