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...
Google hit by US$272m fine in France
It breached an agreement on terms for paying media firms.
Business
Business
DP World acquires 100% stake in Imperial
The acquisition is expected to also add significant strategic value to DP World given Imperial’s footprint and strong market access...
- The acquisition is expected to also add significant strategic value to DP World given Imperial’s footprint and strong market access and logistics solutions capability
- DP World and its subsidiaries employ over 71,000 people across its worldwide operations
Economy
US offshore wind power lease sale nets record $4.3B
The six sites are in an area called the New York Bight and total 488,000 acres (197,500 hectares), making it...
- The six sites are in an area called the New York Bight and total 488,000 acres (197,500 hectares), making it the biggest U.S. renewable power auction ever
- Development of all six tracts could generate as much as seven gigawatts of wind energy, enough to power some two million homes, officials said
Business
Russia penalizes Facebook
FB is accused of not stopping fact-checkers on its platform.
- Moscow's move comes days after Russia staged a large-scale invasion of neighboring Ukraine
- It follows the government in recent years taking measures to limit online freedoms for Russians
Geostrategy
Sanctions bore in on Russia over Ukraine invasion
On Friday, US President Joe Biden extended his country's measures against Russia to include sanctions on President Vladimir Putin and...
- The first tranche will hit four Russian banks, cut off more than half of Russia's technology imports, and target several oligarchs
- Energy giant Gazprom and 12 other major companies will be barred from raising capital in Western financial markets
Business
Innovations boost comfort level in hot Gulf cities
More than 400 cities are impacted by the urban heat island effect and increasing energy consumption that makes cities less...
- Cooling cities will save energy, enhance road durability and improve human health, says Abu Dhabi-based FortyGuard
- The urban heat island effect increases energy consumption in more than 400 cities, adds the clean-tech startup
Business
Dubai Maritime City launches $38 million infrastructure project
DP World’s purpose-built maritime hub, Dubai Maritime City (DMC), has launched an infrastructure project at a cost of AED140 million...
- The infrastructure project includes developing networks for deep sewage, stormwater, fire, irrigation, potable water, telecommunication, and roads.
- The new infrastructure will integrate DMC with the Mina Rashid area that includes the QE2 Hotel, P&O Marinas and Marina Cubes.
Business
DEWA electricity and water accounts rise by above 40 percent in 5 years
Dubai Electricity and Water Authority (DEWA) announced that the number of electricity accounts reached 1.06 million by the end of...
- The number of electricity accounts reached 1,061,476 by the end of 2021 compared to 752,505 at the end of 2016.
- DEWA’s total capacity increased to 13,417MW of electricity, said Saeed Mohammed Al Tayer, MD & CEO of DEWA.
Business
Egypt sets up $50m venture capital fund for startups
The World Bank and MSMEDA is eager to review and develop the needs of startups.
- The World Bank is supporting the operation of the program, aimed at tech-based startups
- The fund was announced by Egypt's Minister of Trade and Industry, Nevine Gamea
Business
Ras Al Khaimah provided $1.9m package to local businesses during pandemic
The Ras Al Khaimah Department of Economic Development (RAK-DED) offered AED 7 million ($1.9 million) in economic stimulus package to...
- The package was provided to support the local economy and ensure business continuity during the COVID-19 pandemic.
- RAK said the package included licenses registered with RAK-DED and affected by the pandemic such as infrastructure projects and SMEs.
Business
Federation of Saudi Chambers signs deal to host UN Global Compact
The Federation of Saudi Chambers of Commerce signed an agreement to host the local network of the United Nations Global...
- This pact affirms Federation's role in realizing the importance of corporate sustainability in implementing the programs and initiatives of Saudi Vision 2030.
- It also covers the sustainable development goals of the UN through the Saudi private sector.
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...
Company News
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ACWA Power okays dividend
Business
Ex Qantas boss Alan Joyce paid $14m in last financial year
Qantas said some of the former airline chief's pay could be subject to clawback "should the board determine that necessary"....
Business
Global ambitions fuel Qatar’s investment momentum
Qatar Investment Authority, with a diversified $450 billion portfolio across 60 countries, is adeptly poised to tackle global economic hurdles...
Business
Google’s AI chatbot goes personal tapping into Gmail, YouTube
Google has for years discreetly developed AI powers but was caught off guard when OpenAI late last year released ChatGPT...
Business
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Business
stc’s acquisition of Telefonica stake okayed
Spain's Securities Market Regulatory Authority cleared the deal.
- Morgan Stanley, which advises on the deal from the buyer's side, accumulated a little less than 3 percent of Telefonica’s capital during an unspecified period of time.
- Media reports said that stc announced recently it acquired a 9.9 percent stake in Telefonica for SAR 8.5 billion (2.1 billion euros).
Business
ZATCA, Korea Customs Service sign MoU to recognize AEO
Riyadh, Saudi Arabia -- Saudi Arabia's Zakat, Tax and Customs Authority (ZATCA) and Korea Customs Service have signed a memorandum...
- The move will accelerate the clearance of goods at customs points, enhance trade, and support their economies, SPA reported.
- ZATCA also showcased the “Clearance within Two Hours” initiative, which aims to unify the efforts of customs clearance authorities.
Business
Musk says X could charge all users ‘small monthly payment’
The tech tycoon has made multiple changes since taking over the site for $44 billion in October last year, when...
- During a talk with Musk on Monday, Israeli PM raised the question of online anti-Semitism, and how X could prevent the use of bots
- Musk replied that the company was moving to having a small monthly payment for use of the X system and it's the only way to combat vast armies of bots