Qatar and Egypt hold talks to ramp up civil aviation cooperation
Cairo, Egypt-- Qatar and Egypt have discussed enhancing ties in the field of civil aviation between the two countries. In...
Business
Business
Volkswagen posts Q1 profit
The German auto giant said operating profit rose to $9.3bn.
- The group's operating profit rose to 8.5 billion euros ($9.3 billion) over the first three months of the year
- The boost was down to strong "operating performance" and a positive effect of 3.5 billion euros
Business
Ajman Free Zone becomes Amazon Web Services Activate Provider
Ajman Free Zone (AFZ) announced today that it has become an AWS Activate Provider. Startups affiliated with the AFZ, which...
- The AWS Startup Activate program offers grants up to $25,000 to qualified startups, as well as offers of exclusive credits, discounts, and software service access.
- Qualified startups can obtain credits and partner funding, along with a business support plan credits of up to $5,000, through the AWS Startup Migrate program.
Business
Elon Musk offers to buy 100 percent of Twitter stock, take it private
Tesla chief offered $54.20 a share, which values the social media firm at $43.4 billion, in a filing dated April...
- Musk's latest move towards Twitter comes just days after he turned down a seat on the board following his acquisition of a 9.2 percent stake in the microblogging platform.
- Musk, Twitter's biggest shareholder, said his "offer is my best and final offer" and he would reconsider his position as a shareholder if it was rejected.
Business
Sandooq Al Watan to fund Lune with $68,000 for its innovator program
Sandooq Al Watan, the community initiative launched by Emirati businessmen to support the creation of a better future for forthcoming...
- Sandooq Al Watan, the community initiative launched by Emirati businessmen to support the creation of a better future for forthcoming generations.
- Lune Platform features an intuitive and easy-to-use control dashboard, designed to give users a comprehensive view of their customers’ financial accounts.
Business
Economic freedom, effective governance key to attract FDI: AMF
The study calls for the stability of the business environment by reforming relevant laws.
- The study calls for the stability of the business environment by reforming relevant laws
- The regulatory quality index outperforms all other factors in attracting investment
Business
Amazon fined $98k/day in France
France says Amazon’s seller contracts have ‘unbalanced’ clauses.
- French authorities on Wednesday slapped a €90,000-per-day ($98,000) fine on Amazon
- It would continue until Amazon removes abusive clauses in its contracts with businesses
Business
Iran’s oldest tyre factory shuts down
Company workers had gathered Sunday to urge the state to save the factory, local media said.
- The "largest producer of off-road tires in Iran" has been closed due to "financial problems and difficulties in the supply of raw materials"
- An American-Iranian company, Kian Tire was established in 1958 was popular for making "military vehicles and large trucks" in Iran
Business
Pfizer plans new Covid jab
It has said a shot for multiple variants is coming by 2022-end.
- Chairman Albert Bourla said Pfizer was also working on a vaccine that could provide good protection for a whole year
- This means people would come back annually for boosters, as with influenza shots currently given out in the US
Interview
Inspiring people is ‘a good legacy’: Sheikha Lubna
Sheikha Lubna Bint Khalid Al Qasimi, the first woman to be an Emirati cabinet minister, opens up to TRENDS about...
- In the UAE, every generation witnesses significant changes, but one constant is the government’s support towards and confidence in youth, said the Sheikha
- Empowering women and giving them the right opportunities is not new; it had already started since the foundation of the UAE, she added
Opinion
Resilience in PE market may open new opportunities
Despite the uncertainty, many PE firms are adapting and keen to point to their funders’ patience and understanding in what...
- The global private equity market is now worth over $4 trillion, says a latest report
- Private equity needs to negotiate the current COVID-19-induced economic crisis.
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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
Qatar and Egypt hold talks to ramp up civil aviation cooperation
Cairo, Egypt-- Qatar and Egypt have discussed enhancing ties in the field of civil aviation between the two countries. In...
Business
Company News
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TCS Q1 profit at US$1.35bn
Business
China-Arab States Expo kicks off, highlighting deep trade ties
Yinchuan, China--The sixth China-Arab States Expo commenced today in Yinchuan, northwest China's Ningxia Hui Autonomous Region, marking yet another chapter...
Business
UAE and Indonesia pledge to enhance economic cooperation
Jakarta, Indonesia-- The UAE and Indonesia have discussed mechanisms to expand regional cooperation and opportunities for trade and investment cooperation...
Economy
Several UAE entities sign pact to implement ‘Sharjah Sat-2’
Sharjah, UAE -- A cooperation agreement was signed between the Sharjah Academy of Astronomy, Space Sciences & Technology (SAASST), the...
Geostrategy
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Business
Qatar Central Bank issues treasury bills worth $137 million for a week
Doha, Qatar -- Qatar Central Bank (QCB) issued treasury bills worth QR 500 million ($137 million) for a one-week term,...
- Earlier this month, QCB issued treasury bills for one week that amounted to QR 1 billion.
- Treasury bills are a short-term debt instrument issued by the government for the purpose of borrowing and providing cash liquidity in short terms.
Business
UAE, Armenia ink 4 MoUs at joint business forum
YEREVAN, ARMENIA - Chairman of the Federation of UAE Chambers of Commerce and Industry (FCCI) Abdullah Mohamed Al Mazrouei and...
- A UAE delegation of around 100 representatives of government and private entities took part in the forum.
- In the first seven months of 2023, trade between UAE and Armenia was valued at US$870 million.
Business
EDGE partners with Bulgarian firms
It expects to fulfill growth plan through the partnerships.
- EDGE and TBS will seek collaboration through international trade expansion, knowledge transfer, research and development
- Its agreement with Samel-90 entails both to jointly identify business opportunities within multiple electronic development domains