Meta, Microsoft slam Apple over app store policy
The four companies filed a rare joint amicus brief in a California court in charge of applying a ruling that...
Interview
Israel stock exchange eyes GCC investors
In an exclusive interview, Tel Aviv Stock Exchange CEO Ittai Ben-Zeev speaks on his strategy to attract investors from the...
- The UAE is key to the relatively small but growing Israeli bourse’s new strategy of “going east” to globalize its foreign investment pool
- Tel Aviv Stock Exchange has traditionally been heavily oriented towards the US, but is now looking to expand to the GCC and the rest of the world
Business
Italy’s Eni to pull out of Russia-Turkey pipeline
Eni will sell its stake in Blue Stream following moves by rivals BP and Shell to divest from Russia-linked projects...
- Eni will sell its stake in Blue Stream following moves by rivals BP and Shell to divest from Russia-linked projects after Moscow invaded Ukraine
- The company controls the gas pipeline -- which links the two countries via the Black Sea -- equally with Russian energy giant Gazprom
Opinion
Cryptocurrencies: Proof-of-work spared for now
Due to growing environmental consequences, even though proof-of-work was spared in the EU for now, it is simply too fragile...
- The European Union was on Tuesday supposed to vote on a bill named MiCA intended to regulate crypto in the EU.
- The Ukrainian government is arguably one of the first governments to ask for donations in cryptocurrencies.
Business
Saudi Arabia unveils farm exporting high-yielding Murciano goats
Saudi Arabia's Ministry of Environment, Water and Agriculture (MEWA) has inaugurated the first Saudi farm exporting Murciano goats in Riyadh....
- The Murciano goats produces 800-1000 liters of milk every year on average.
- The goats, also known as Murcia-Granada, have a lactation period of around 210 days.
Business
Service fees of real estate owners, investors reduced in UAE
The UAE's Department of Municipalities and Transport (DMT) said that service fees for real estate units’ owners and investors in...
- In 2020, the service charges were reduced by 18.1 percent, with another 8.3 percent reduction introduced in 2021.
- DMT introduced a comprehensive mechanism to monitor and regulate residential units' service charges in 2020.
Business
Qatar Airways hits out at Airbus as new jet grounded in paint dispute
Qatar Airways has secured an injunction preventing Airbus from cancelling deals for other jets as the two are involved in...
- The airline has now grounded 22 of its 53 A350 jets since November 2020, and said it will move ahead with legal action.
- In retaliation, Airbus has in turn sought to cancel orders made by Qatar Airways for two other A350 jets and 50 A321neo planes.
Business
Dubai International Financial Center launches AI, UAE’s first coding license
Companies holding the license will be able to work within a stimulating environment at the DIFC Innovation Hub.
- The license is expected to advance the country's Artificial Intelligence Strategy 2031.
- The license provides an opportunity to obtain the UAE Golden Visas for employees.
Business
Egypt’s Suez Canal Authority announces hike in passage tolls
Egypt's Suez Canal Authority announced Tuesday additional tolls for transiting vessels including fuel tankers, as oil prices soar in the...
- Petroleum gas tankers will see a 10 percent hike on passage fees while liquefied natural gas carriers and general cargo ships will incur a seven percent increase.
- Ships carrying petroleum products will be hit with a five percent rise under the new tolls, which are effective immediately.
Business
Emirates Steel and Mauritania’s sign MoU
The two companies will form a joint venture company.
- The two companies will study joint plans to produce iron oxide pellets, the primary feedstock required for Direct Reduction steel plants.
- At 1.5 billion tons, Mauritania has the largest iron reserves in the Arab world and Africa.
Business
UAE, Saudi auditors’ association sign agreement to work jointly
The Internal Auditors Associations of the UAE and Saudi Arabia have signed a cooperation agreement to work the internal auditing...
- The agreement aims to develop a framework for corporate governance to enhance investor confidence.
- The agreement defined the frameworks for joint cooperation between them in several areas, most notably the participation in organizing of internal audit conferences.
Company News
AllianceBernstein office in DIFC
Business
Latest News
Subscription opens to Alinma EMF
Business
Saudi Catering, RSG ink pacts
Business
ITFC collaborates with Turk Eximbank for providing joint loan of US$277m
JEDDAH, SAUDI ARABIA - The International Islamic Trade Finance Corporation (ITFC), which is a member of the Islamic Development Bank,...
Business
Ajman’s exports rise 19 percent in H1 2023
AJMAN, UAE – The Ajman Chamber of Commerce and Industry (ACCI) has revealed that the volume of exports from the...
Business
Most Read
Geostrategy
RAKEZ team wraps up roadshow to boost trade in China’s Guangdong province
RAS AL KHAIMAH, UAE - A delegation from Ras Al Khaimah Economic Zone (RAKEZ), led by Group CEO Ramy Jallad,...
- The RAKEZ delegation aims to foster deeper ties with local enterprises, prominent trade associations and key government entities.
- The delegation hosted business forums across Guangzhou, Shenzhen and Dongguan cities, highlighting the prospects of the Middle East market.
End of era as Toshiba completes $13.5 bn offer to go private
Pressure from activist shareholders and a takeover offer from private equity group CVC prompted aborted attempts to split the company...
- Remaining shareholders will be "squeezed out" after the $13.5-billion tender offer and Toshiba shares will be delisted after more than 70 years on the stock market, Toshiba said
- Toshiba traces its roots back to 1875 and evolved into a vast conglomerate in the 20th century synonymous with Japan's postwar economic revival and its technological innovation
Business
Kuwait buys 40% stake in Egypt offshore energy project
Kuwait City - Kuwait's Foreign Petroleum Exploration Company (KUFPEC) has entered into an agreement to acquire a 40% stake in...
- The move aligns with KUFPEC's strategy of expanding its operations in collaboration with international partners active in specialized exploration areas
- Khaled Kasem, Chairperson of Shell Egypt's office, highlighted that the partnership will facilitate the exchange of expertise