Science
Russia sanctions pile on helium industry woes
Helium is used in the manufacturing of semiconductors, and its shortage is expected to exacerbate the paucity of computer chips.
- Russia is expected to eventually produce the equivalent of a third of the world's current helium production
- However, with Western sanctions over the Ukraine invasion, experts worry that gas won't reach the global market
Business
QOIC profits drop 25%
It will distribute cash dividends of QAR0.01 per share.
- QOIC saw a net profit of QAR4.99 million ($1.84 million) in the period ending December 31, 2021
- In comparison, its net profit was QAR6.7 million ($1.37 million) for the previous year
Business
Saudi fintech cashes in on startups, investments
Saudi Arabia witnesses a 37 percent rise in the number of fintech startups and a $181 million increase in venture...
- Saudi Arabia witnesses a 37 percent increase in the number of fintech startups entering the market
- Saudi fintech sector is mostly driven by young entrepreneurs who compete with the country's top financial institutions
Economy
Dubai leads region in innovation, fintech
The emirate, which boasts a thriving community of startup incubators and accelerators, tops the list for foreign direct investment and...
- Dubai is developing an environment that encourages firms from all industries to innovate.
- The city has been able to leverage its strengths as a world-class city to attract global blockchain entrepreneurs.
Business
The UAE-India trade to touch $100bn by 2030
The economic ties between the UAE and India have been reinforced by growing trade between the two countries that stood...
- According to the UAE Embassy in India, the cumulative bilateral FDI stands at $67 billion
- The Indian Embassy in the UAE estimates that the UAE’s investments in India are about $17-18 billion, of which over $11 billion is in the form of FDI (2000-June 2021)
Business
Middle East Energy opens next week, will focus on energy transition
Policymakers, business leaders, and industry experts from the energy industry will converge in Dubai next week to participate in Middle...
- The speakers will also be participating in the Global Energy & Utilities Forum which will provide a platform for industry experts to discuss multiple subjects.
- The event focuses on Transmission & Distribution, Smart Solutions; Renewable & Clean Energies; Backup Generators & Critical Power; and Energy Consumption & Management.
Business
Capital Bank of Jordan lists a $100m bond on Nasdaq Dubai
Capital Bank of Jordan has made its first-ever bond listing of $100 million on Nasdaq Dubai, the Middle East's international...
- According to the bank’s chairman, Bassem Al-Salem, the step will “extend Capital Bank’s reach and allow our teams to strengthen the bank’s relationship with investors in UAE
- Nasdaq Dubai was chosen given its position as the largest regional venue for listing US dollar-denominated debt
Business
Lufthansa posts net loss of $2.2bn
The German carrier said it cut its losses by two-thirds in 2021.
- German airline Lufthansa said that Ukraine invasion has led to uncertainty in aviation sector
- It said rising price of fuel would also adversely impact the sector and could reduce the profit
Business
Former Nissan boss refuses to fade away into oblivion
From his shock detention to an audacious escape from Japan hidden in an audio-equipment box, the rollercoaster saga of former...
- Ghosn and his aide Kelly were arrested in Tokyo on suspicion of financial misconduct on November 19, 2018
- He was granted bail before being arrested again in a dawn raid of his Tokyo apartment in April of 2019
Business
Amazon closing bookstores, pop-up shops to focus on grocery chain
E-commerce titan Amazon on Wednesday confirmed plans to close its bricks-and-mortar bookstores and pop-up shops in order to focus on...
- The Seattle-based company expected to close 66 real-world stores in the United States and two more in the United Kingdom.
- Amazon acquired the Whole Foods Market grocery chain for $13.7 billion in 2017, significantly expanding the e-commerce giant's presence in physical retail.
Company News
Qatar Airways’ profits fall
Economy
Latest News
Microsoft to offer OpenAI’s Dall-E 3 in Bing
Microsoft has bet big on AI, notably with a $10-billion envelope dedicated to its partnership with OpenAI, and is now...
Business
Agriculture deals worth $471m inked at China-Arab States Expo
Beijing, China -- A total of 34 deals worth approximately AED1.73 billion ($471 million) were signed at the conference on...
Geostrategy
YouTube announces new AI products for content creation with focus on MENA
New York, United States - YouTube has unveiled a suite of innovative AI-powered tools aimed at revolutionizing the world of...
Business
Most Read
In war-scarred Iraqi city, food business gives women independence
Only slightly more than 10 percent of Iraq's 13 million women of working age are in the job market, according...
- Abir Jassem is now one of some 30 employees of "Taste of Mosul", which celebrates local delicacies and was founded in 2017 after northern Iraqi metropolis was liberated from IS
- Launched with just two cooks, the initiative has since grown and most of the workers -- cooks as well as two deliverywomen -- are widowed or divorced
Business
Cybersecurity vital for UAE’s banking, customer trust
"The banking and financial sector, being a prime target for cybercriminals, necessitates evolving solutions and strategies for protection. Regulatory compliance...
- Cybersecurity is paramount to the banking sector, a crucial driver of the global economy, says UAE Banks Federation Director-General Jamal Saleh
- The digital age has transformed financial transactions and asset management, making the protection of our financial systems essential, he adds
Business
Cash transactions dominate Dubai’s property market
This trend, driven by affluent investors and global rate hikes, underscores the city's robust economic allure and the confidence investors...
- This trend, driven by affluent investors and global rate hikes, underscores the city's robust economic allure and the confidence investors place in its property market
- Dubai's elite neighborhoods see a 49% annual growth in prime values, with current cash purchase rates at historic highs, surpassing even pre-2008-09 levels