Google hit by US$272m fine in France
It breached an agreement on terms for paying media firms.
Business
AstraZeneca to buy Fusion
The $2.4bn deal is its latest expansion into cancer treatments.
Business
UN slams ‘aggressive’ marketing by formula-milk makers
The failure of countries to crack down on the marketing of breast milk substitutes means far too many children are...
- The $55-billion formula milk industry is said to systematically deploy aggressive marketing strategies
- It is said to spend up to $5 billion a year to sway the decisions of parents on how to feed their infants
Business
Syria accords rare approval to telecom firm to begin operations
Syrian authorities on Monday granted a rare license to a new telecommunications company that will start operating in nine months,...
- Wafa Telecom will become Syria's third telecoms operator in a market currently controlled by Syriatel and MTN
- Wafa Telecom CEO Ghassan Saba said the company relied on foreign expertise, amid reports of Iranian investments in his firm
Business
Alibaba shares slump 5%
The drop followed reports that the Ant Group was being probed.
- Chinese regulators launches a wide-ranging crackdown on alleged anti-competitive practices by Alibaba and other domestic tech giants
- Chinese Food delivery giant Meituan shares has plummeted over 20 per cent since Friday which is the biggest fall of the stock
Opinion
Measuring the impact of investment on ESG factors
With more ESG marketing claims questioned by clients, asset and wealth management firms can no longer tout ESG without convincing...
- As investors get more sophisticated about ESG matters, they are questioning the claims of commitment to sustainably invested assets and ostensibly sustainable products
- The solution to this strategic challenge lies in prioritizing ESG factors for specific target clients and building a model that reliably quantifies the impact on those factors
Interview
UAE banks on Instant Payments to shake up sector
The UAE Instant Payments Platform (IPP) is set to go live in Q4 2022, with participation mandatory for all banks...
- The UAE IPP is set to go live in Q4 2022, with participation mandatory for all banks and financial institutions
- Being part of the IPP scheme will allow banks to leverage real-time payments to target new customer segments
Business
UAE signs deals worth $263m on Day 2 of UMEX & SimTEX 2022
UAE’s Ministry of Defense said on Tuesday that it signed three new deals worth AED966.25 million ($263 million) on the...
- The fifth edition features 15 live shows in the Tilal Swaihan area, showcasing grounded and aerial unmanned systems and AI and robotics technologies.
- The total number of deals during the first two days of this year’s edition was six, with an overall value of AED1.620 billion.
Business
Aramco is targeting investment in China : CEO Amin Nasser
Saudi Aramco is interested in investing in China, its President and CEO Amin H Nasser, said. He asserted that Aramco...
- Aramco is holding initial talks with partners, including the state-owned defense contractor Norinco.
- The talks were reportedly about the development of a $10 billion refining and petrochemicals complex in China.Â
Business
Mubadala invests in PDG
Singapore-based Princeton Digital Group (PDG) has closed an equity investment from Mubadala Investment Company (Mubadala) as a lead investor for...
- PDG is a leading Pan-Asia data center operator with a footprint across key Asian digital economies
- PDG has a portfolio of 20 data centers with over 600MW of secured capacity and spanning five countries
Business
Dubai Expo 2020 likely to record 15m footfall soon
Music highlights included Filipina singing sensation Moira Dela Torre, who enthralled the audience at the Jubilee Stage last Monday.
- As of 21st February, total visitation stood at 14,719,277, days after Coldplay’s unforgettable concert on 15th February
- The international visitation is up 19 percent, primarily thanks to the popularity of the new AED50 Season Finale Pass
Business
UAE trades $22.8 bn worth of rough diamonds in 2021, hits top spot globally
UAE reached the top spot globally as a rough diamond hub, trading over $22.8 billion worth of rough diamonds in...
- Dubai boasts direct flights to other diamond hubs across the world, including mining countries in Africa and manufacturing centers in India.
- Since 2015, the UAE has increased its rough diamonds trade by 76 percent, overtaking Belgium as the world’s leading rough trade hub
Google hit by US$272m fine in France
It breached an agreement on terms for paying media firms.
Business
Company News
DFM adds new investor accounts
Business
Latest News
Real estate transactions in Ajman totaled US$408m in August
AJMAN, UAE – Real estate transactions in August achieved a growth of 61.5 percent compared to the same period in...
Business
$15m paid in compensation to passengers in 2021-22 in Saudi Arabia, says GACA
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) said that national airlines in the Kingdom have issued...
Geostrategy
Erdogan invites Musk to establish his next Tesla factory in Turkey
"President Erdogan called on Tesla to establish its seventh factory in Turkey," the Turkish leader's office said.
Business
Most Read
Business
DAE closes $1.6 billion loan
DAE said this is the company's largest ever loan facility.
- The facility enabled DAE to tap the Islamic banking liquidity and consolidate its existing banking relationships in the Middle East, Asia, North America, and Europe, it said.
- Proceeds from the facilities will support the future financing needs of the business and refinance a maturing credit facility.
Business
EIH buys stake in Al Ain Pharmacy
Move aligns with EIH's aim to diversify sources of investment.
- The acquisition is vital for EIH as it seeks to strengthen its investment in healthcare through its subsidiary Health Plus Holding.
- The move will help provide additional and sustainable value to investors and achieve the maximum return on investment.
Business
Shares in Chinese property giant Evergrande plunge after employees’ arrest
Evergrande, the world's most-indebted property developer with an estimated debt of $328 billion (307 billion euros) at the end of...
- Evergrande's stock price dipped to 0.47 around 9 am in Hong Kong (0100 GMT) on Monday, before ticking back up, after closing at 0.62 Hong Kong dollars on Friday
- The drop comes two days after police of the Shenzhen said in a statement that several employees of Evergrande's financial subsidiary were arrested