flynas receives 50th jetliner out of 120 Airbus A320neo ordered
RIYADH, SAUDI ARABIA – flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the...
Business
KPC posts bumper profits
Business
Boursa Kuwait profit declines
Business
Ooredoo posts 20% profit rise
Business
Google to delete incognito search data
The suit filed in June of 2020 sought US$5bn in damages.
Business
Xbox makes Fortnite free to play on phones
The popular battle royale title from Epic Games will be the first free-to-play game available through an Xbox Cloud Gaming...
- Fortnite's return to iPhones and iPads comes after it was booted from Apple's App Store for trying to bypass its payment system
- Apple has clashed in court with Epic, which has accused the iPhone-maker of operating a monopoly of its App Store shop
Business
Petrobras profits rise despite hurdles
Brazilian President Jair Bolsonaro has criticized it for rising fuel prices.
- Petrobras on Thursday reported a first-quarter net profit of 44.6 billion reais ($8.6 billion)
- The result was 38 times more than the Q1 2021 result of 1.2 billion reais ($180 million)
Business
Digital banks set to flourish in Saudi Arabia, UAE
Ongoing loan restructurings and the gradual withdrawal of pandemic-related support packages may put further pressure on asset quality. However, the...
- In November 2021, Saudi Central Bank (SAMA) Governor Fahd Al-Mubarak reportedly said that the Kingdom is going to license more digital banks.
- UAE’s Emirates NBD, Mashreq and Commercial Bank of Dubai were among the first to offer digital-only services.
Business
TINDER SWINDLER: When women fight back
Four years after being scammed by a conman, and three months after Netflix made the 'most-watched documentary' out of their...
- The docu-drama highlights the plight of three women who were scammed by a conman posing as a billionaire
- More than 60 percent of victims of romance scams are women, according to the British police reporting center Action Fraud
Business
Prince Alwaleed bin Talal now sees Musk as ‘excellent leader’ for Twitter
Saudi investor Prince Alwaleed bin Talal, who initially spurned Elon Musk’s bid for Twitter, agreed to roll his $1.89 billion...
- On April 14, Alwaleed opposed Musk’s buyout bid saying the price offered by him did not come close to the intrinsic value of Twitter given its growth prospects.
- Alwaleed agreed to roll his $1.89 billion stake into the deal rather than cashing out.
Business
TikTok to unveil ad revenue-sharing program for creators
TikTok on Wednesday announced an ad revenue-sharing program with the social media platform's most prominent creators, moving closer to a...
- The short-video format app has become wildly popular in recent years with more than a billion active users globally
- Under the new TikTok Pulse program, companies can place their ads next to user content in specific categories, including health, fashion, cooking, gaming and others
Business
Lufthansa cuts Q1 losses
German carrier set its sights on a record summer for traffic.
- The airline group's net loss over the first three months of 2022 came to 584 million euros ($620 million)
- The number of passengers on Lufthansa flights "more than quadrupled" in the first quarter to 13 million
Business
Sell seized Russian assets to rebuild Ukraine: EU chief
The EU should confiscate and sell Russian assets it has seized and use the proceeds to rebuild war-scarred Ukraine, EU...
- The EU said early last month it had frozen 30 billion euros ($32 billion) in assets linked to blacklisted Russian and Belarusian individuals
- Last week, US President Joe Biden proposed oligarchs' seized assets be "sold off" to "remedy the harm Russia caused and to help build Ukraine"
Business
AD Ports to develop Egypt projects
AD Ports to develop, operate, and manage a terminal in Safaga seaport.
- Abu Dhabi Ports Group and Egypt's Red Sea Ports Authority sign a term sheet and a head of terms agreement for the development of these projects.
- AD Ports Group will also develop plans for cruise ships lines linking Abu Dhabi, Hurghada, Sharm El Sheikh and Aqaba.
Drone swarms can now fly autonomously through thick forest
It's only a matter of a few years before we see such drones deployed in real-life work, said a roboticist...
- Swarms could be used during natural disasters as they do not rely on any outside infrastructure, such as GPS
- Pentagon expressed interest in carrying out its own tests on swarms that shows, it could be weaponized by militaries
flynas receives 50th jetliner out of 120 Airbus A320neo ordered
RIYADH, SAUDI ARABIA – flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the...
Business
Company News
KPC posts bumper profits
Business
Boursa Kuwait profit declines
Business
Ooredoo posts 20% profit rise
Business
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EU asks X and Meta to regulate fake news, disinformation
Thierry Breton, EU commissioner and self-styled "digital enforcer", raised the alarm in letters sent to Elon Musk, owner of X,...
Geostrategy
Aramco looks to invest in Shangong Yulong Petrochemical
Dhahran, Saudi Arabia -- Aramco has signed an MoU that paves the way for Aramco's potential acquisition of a 10...
Business
MENA awards $101 billion construction projects in first half
Dubai, UAE -- Despite global economic uncertainties, the construction industry in the Middle East and North Africa (MENA) awarded a...
Business
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Business
Zest Equity raises $3.8m seed round to digitize private market transactions
Abu Dhabi, UAE – Zest Equity, a venture-backed technology company offering digital infrastructure for private market transactions, has closed a...
- The Hub71 startup will use these funds to drive the company's ambition to expand its product offering in the MENA region
- Zest Equity has raised a total of $5.7 million with early backers including DFDF, 500 Sanabil, Nuwa Capital, and a significant group of regional angel investors
Business
Qatar signs 27-year gas supply deal with France’s Total: state energy firm
Doha, Qatar - Qatar has agreed to supply France's TotalEnergies with natural gas for 27 years, its state energy company announced on...
- Qatar will supply 3.5 million tonnes of gas a year under the deal, QatarEnergy said, following two agreements with Total
- Total signed a $1.5 billion deal with QatarEnergy in September last year giving it a 9.3 percent stake in Qatar's North Field South project
Business
Abu Dhabi’s Mubadala to invest $1 billion a year in Brazil
New York, United States - Mubadala Capital, the investment arm of Abu Dhabi’s sovereign wealth fund, plans to invest more...
- The firm’s second fund in the country, Brazil Special Opportunities Fund II (BSOF II), has raised over $710 million in commitments
- Mubadala Capital was the first sovereign wealth fund to manage capital on behalf of third-party institutional investors