Chevron $53bn Hess deal in danger
Rivals' challenge to the control of a key oil asset can derail the acquisition.
Business
Business
UFC, martial arts group, to return to UAE in October
The world’s premier mixed martial arts organization UFC will return to UAE in October 2022 at Abu Dhabi Showdown Week...
- The UFC 281 will be the third event of a five-year partnership between DCT Abu Dhabi and the UFC
- It will mark the promotion’s 17th overall event in Abu Dhabi, dating back to UFC 112: INVINCIBLE in April 2010
Business
Expo 2020 achieves another milestone, records 20m visits
Expo 2020 Dubai, the largest global gathering since the start of the pandemic, reached the milestone of 20 million visits...
- Dubai Expo 2020 is the biggest event ever to be held in the Arab world with cultural, numerous educational and entertainment experiences
- The appearances of Global leaders, sporting heroes, renowned artists and superstars formed some of the 32,000 events and attractions at the Expo
Business
After a week of losses, GCC indices post gains
After a week of losses, the Saudi index posted 0.9 percent increase even as the uncertainty spurred by the Ukraine...
- The shares of Etihad Etisalat (Mobily) jumped 9.9 percent after the Emirates Telecom Group submitted an offer to increase its stake
- Amlak Finance fell by about 10 percent, while Emirates NBD Bank fell by 3.7 percent
Business
Qatar’s Invincibles stir up World Cup hopes
When Al Sadd wrapped up a second straight Qatar title by stretching their unbeaten league run to 49 games, they...
- Al Sadd's squad contains the bulk of Qatar's national side, as well as a former Arsenal star Santi Cazorla and ex-Premier League regular Andre Ayew
- "Most of Al Sadd's players are internationals and this (success) stimulates enthusiasm, courage and the desire to be fully ready for the World Cup," the 24-year-old told AFP
Business
Saudi Arabia inks MoU with Amazon to promote digital services, e-commerce
The Saudi Arabia’s Ministry of Investment (MISA) announced on Friday that it has signed a Memorandum of Understanding (MoU) with...
- Saudi Arabia and Amazon will form a joint committee consisting of members from each party that will meet twice a month to explore reforms across a range of areas
- The committee will also work with relevant public sector entities to deliver support and incentive programs to accelerate the growth of digital services and e-commerce
Expo 2020 DUBAI
Saudi Arabia wins Best Pavilion at Expo 2020 Dubai
The pavilion of Saudi Arabia in Expo 2020 Dubai has been awarded Best Pavilion by EXHIBITOR magazine.
- The Saudi Pavilion has already won the Platinum Certificate in LEED by the US Green Building Council
- It also holds three world records: the largest interactive light floor, the longest interactive water curtain, and the largest interactive digital screen mirror
Business
Google faces racism lawsuit
Ex-employee says Google imposed ‘barriers’ on Black workers.
- Ex-employee April Curley, hired by the tech giant in 2014, has contended in her suit that she was undermined at Google
- She says she was ultimately fired for advocating reform of ‘barriers and double standards’ imposed on Black Google employees
Business
Julphar revenue up 100 percent
The growth attributed to increased market share in key operating regions.
- In 2021, Julphar reported EBITDA from Continuing Operations at AED164.8 million.
- The Company’s profit after tax for full year 2021 reached AED59.4 million.
Business
Ithmaar Holding of Bahrain to sell ‘assets’ to Al Salam Bank
Shareholders of Ithmaar Holding have approved a plan to sell a few of the company's assets to Al Salam Bank.
- The assets include Ithmaar Holdings’ ownership stake in both Bank of Bahrain and Kuwait and Solidarity Group Holding, as well as the consumer banking business of Ithmaar Bank
- The holding company will retain a diversified portfolio of international and local financial and other assets, including banking businesses in Bahrain and Pakistan
Business
India bypasses Western attempt to choke off Russian oil supply
Indian government officials on Friday defended the continued buying of Russian oil, saying European countries were still purchasing hydrocarbons from...
- Indian oil refiners have in recent days reportedly purchased several million barrels of discounted Russian oil even as the West seeks to isolate Moscow economically
- New Delhi, which historically has had close ties with Moscow, has called for an end to the violence in Ukraine but has stopped short of condemning Russia's invasion
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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
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Saudi tourism on growth path despite hiccups
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Emirates NBD Group invests in sustainability startup Erguvan
Dubai, UAE - Emirates NBD made an investment in Erguvan, a climate and financial technology venture aimed at providing financial...
Business
UAE’s internet quality world’s best, but e-security concerns remain
The UAE's achievement in internet quality marks a significant improvement from its previous third-place ranking in this category. However, in...
Business
Diverse business models needed for trade with China, say Union of Arab Chambers
BEIRUT, LEBANON – The secretary general of the Union of Arab Chambers has called for diversified business models to facilitate...
Geostrategy
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Geostrategy
Relations with Iran will be strong, says Saudi envoy
TEHRAN, IRAN - Saudi Arabia's Ambassador to Iran Abdullah bin Saud al-Anzi has said that relations between the two countries...
- The Saudi envoy expressed satisfaction with his country's ties with Iran and the two sides' resumption of bilateral diplomatic relations.
- He said that any pact between Saudi Arabia and Iran will lead to the enhancement of peace and security in the entire region.
Business
Mubadala launches ‘Capital Solutions’
The new platform offers bespoke solutions to investors.
- The Mubadala Capital Solutions platform is comprised of three fully integrated strategies to provide investors with access to a range of fund managers and direct opportunities.
- The first strategy within the Mubadala Capital Solutions platform is a diversified, evergreen investment product focusing on private market opportunities.
Business
Online beauty products sales in MENA grow by over 20% in 1H 2023: study
Dubai, UAE - Online sales of beauty products in the MENA region experienced significant growth, surpassing global trends In the...
- Global sales in the beauty and self-care industry increased by more than 15% during this period
- The research was based on over 6.5 million orders globally and more than 400,000 orders in the MENA