Nvidia unveils ‘superchips’
The company also announced other AI developments.
Business
Trade between Brazil and Arab countries grew by 44 percent in 2021
Trade between Brazil and Arab countries grew by 44 percent during 2021, with food exports alone reaching an estimating $14...
- Food exports alone reached an estimating $14 billion, said Tamer Mansour, CEO of the Brazilian Chamber of Commerce.
- January reports revealed that trading between Brazil and Arab countries could increase further, by 2 to 4 percent in 2022, he added.
Business
Construction of $834m steel casting plant in Saudi to begin this year
A metal casting and forging plant will be built by South Korea’s Doosan Heavy Industries and Construction at the cost...
- The plant will be constructed at the King Salman Global Maritime Industries Complex by South Korea’s Doosan Heavy Industries.
- The plant orders in Saudi Arabia and the Gulf Cooperation Council are expected to grow around 2 trillion won per year in 2028.
Business
Amanat Holdings income leaps up
Amanat Holdings has posted a huge jump in its income for the year ended December 31, 2021 to AED367 million...
- Amanat has recommended the highest dividend payout to date of AED150 million, for which the Board of Directors will be seeking shareholders' approval
- The company reported a record net profit of AED280.8 million, a twenty-eight fold increase from the AED10.1 million reported in FY-2020
Business
Erdogan invites UAE business leaders to invest in Turkey
Turkish President Recep Tayyip Erdogan called on business leaders in the wealthy United Arab Emirates Tuesday to invest in his country,...
- Erdogan arrived in the UAE capital Abu Dhabi on Monday for a two-day visit to revive relations that were long strained by regional disputes
- Turkey-UAE trade topped 26.4 billion dirhams ($7.2 billion) in the first half of 2021. The UAE hopes to double or triple trade volume with Turkey
Business
Engie posts €4.2bn profit
It pointed to energy prices and good asset performance for the rise.
- The firm posted a net profit of €3.7 billion ($4.2 billion) after a loss of €1.5 billion in 2020
- The emergence of the Covid-19 pandemic had roiled the global economy and energy prices
Business
Investcorp acquires 64 industrial properties in US for US $640 million
The properties grow Investcorp’s US industrial real estate holdings to approximately $3.5 billion across approximately 32 million square feet comprised...
- The properties grow Investcorp’s US industrial real estate holdings to approximately $3.5 billion across 32 million square feet comprised of more than 425 buildings
- The latest acquisitions provide Investcorp with Class B+/B industrial warehouses that are 95 percent leased
Business
UAE F&B trade hit $20bn in first 9 months of 2021: Dubai Chamber
The rise was said to have been supported by growing demand and expanded efforts to enhance food security and diversify...
- Imports, at $12.8 billion, accounted for the largest share of the UAE’s F&B trade during January-September 2021
- This was followed by exports at $4.1 billion and re-exports at $3.3 billion over the same period last year
Business
Accountants drop Trump, say records can’t be relied upon
Mazars informed the Trump Organization in a letter last Wednesday that it would no longer work for the company.
- Mazars informed the Trump Organization in a letter last Wednesday that it would no longer work for the company
- The accounting firm added that an investigation of its own and "information received from internal and external sources" had also played a part in it reaching that conclusion
Business
Hollywood actor jailed for $650m scam
Zachary Horwitz has swindled millions in a huge Hollywood Ponzi scheme to finance a lavish lifestyle of yachts, jets and...
- 35 year old American actor swindled $650 million in multi-million dollar Ponzi scheme
- Judge Mark Scarsito sentenced Horwitz to 20 years and ordered him to repay $230 million to his victims
Business
US regulator announces $100 mn fine on crypto lender
The first-ever such case came as the Securities and Exchange Commission (SEC) looks to establish regulatory authority over digital currency...
- The first-ever such case came as the Securities and Exchange Commission (SEC) looks to establish regulatory authority over digital currency services
- "This is the first such case involving crypto lending platforms," SEC chair Gary Gensler said in a release
Nvidia unveils ‘superchips’
The company also announced other AI developments.
Company News
Latest News
Transfer of Iran’s unfrozen foreign assets to Qatari banks soon
TEHRAN, IRAN – The foreign minister of Qatar said the procedures for the transfer of Iran’s unfrozen foreign assets to...
Geostrategy
Lumi IPO 11.5 times oversubscribed
The daylong retail offering saw 124,900 investors subscribe.
Business
Apple to update iPhone 12 in France over radiation
Both the firm and France's digital minister Jean-Noel Barrot insisted on Friday there was no danger to public health from...
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Business
AstraTech to expand across India, Pakistan, and Egypt: founder
Sharjah, UAE -- The UAE-based technology firm AstraTech is seeking to expand across India, Pakistan, and Egypt in the near...
- Last month, we acquired a banking company in the Philippines as part of our global expansion, Abdallah Abu Sheikh told Wam
- He confirmed that in the first quarter of the next year, there will be acquisitions in the fields of financial technology and social communication
Business
Maersk introduces world’s first bio-methanol container ship
Copenhagen, Denmark - Danish shipping giant Maersk on Thursday launched the world's first container ship running on bio-methanol, a key step...
- European Commission head Ursula von der Leyen christened the Laura at an inauguration ceremony in Copenhagen's harbor.
- The Laura will help reduce its CO2 emissions by 100 tons a day, compared to the same vessel running on fuel oil, Maersk said.
Business
RSG gets Mostadam Diamond Certification
The accolade recognizes RSG's commitment to sustainability.
- Red Sea Global has worked closely with the Ministry of Municipal, Rural Affairs and Housing to help define the innovative Mostadam criteria.
- Together, they are creating vibrant and sustainable communities in the Kingdom, paving the way for a more sustainable housing sector.