Sweden’s gaming group Embracer divests Russian assets
Stockholm, Sweden - Swedish gaming group Embracer, which owns the Borderlands franchise and the Tomb Raider license, announced on Thursday that...
Business
Brighter US economic outlook fuels global oil demand growth forecast
Rising fuel needs of ships rerouted away from the Red Sea also to increase demand, the International Energy Agency said....
Geostrategy
Arts & Culture
Not selling NFTs, says Picasso family
They said the only work being auctioned was by Picasso’s great grandson Florian and his collaborators.
- The assertion followed an interview with Picasso’s granddaughter Marina and her son Florian
- They apparently planned to auction 1,000 digital copies of a ceramic bowl Picasso painted in the 1950s
Business
Apple hits revenue record
The expectations-beating results offered signals that the coronavirus-era tech boom may not be quite over yet.
- The expectations-beating results offered signals that the coronavirus-era tech boom may not be quite over yet
- Smartphone sales topped $71 billion, buoyed by strong demand for the iPhone 13 line, especially in China
Business
LVMH sees record sales, profit despite pandemic
The world's leading luxury group more than recovered from the coronavirus pandemic as it earns a record €64.2 billion ($71.5bn)...
- One reason for the luxury group's out-performance was improved profitability
- Its operating margin rose to 26.7 percent, up from 21.4 percent in 2019
Business
New initiatives help Saudi Arabia shine on tourism map
Notable achievements of the kingdom include establishment of Global Center for Tourism Sustainability and its selection to host World Travel...
- Local overnight trips surpassed 60 million in 2021, adding an estimated spending worth $21.3 billion to the country's economy
- Promotion of tourism spots locally and globally, after being hampered by the pandemic, may help Saudi Arabia woo 50 million tourists this year
Business
UAE and Amazon subsidiary to create cloud-based medical record system
The UAE's Ministry of Health and Prevention (MoHAP) has signed a memorandum of understanding (MoU) with Amazon Web Services (AWS),...
- The signing came on the sidelines of MoHAP's participation at Arab Health 2020 that is being held in Dubai.
- The project will implement the best means of strategic planning and decision-making, based on databases that help evaluate and measure the performance of health services.
Economy
UAE launches ‘NAFIS’ to foster positive competition among its youth
The UAE has introduced a "NAFIS" program to foster positive competition among UAE nationals, and enable them to take job...
- The program will be steered by Emirati Talent Competitiveness Council (ETCC) in cooperation with the Federal Youth Authority.
- The program targets Emirati talents and connects them with private sector firms which are searching for qualified Emirati professionals to fill the job vacancies.
Economy
UAE industrial exports in 2021 $33bn amid surge in new production
The significant increase in the UAE’s industrial exports coincided with 220 new facilities commencing production in 2021, said Minister of...
- With the help of National In-Country Value (ICV) Programme, UAE pushed $11 billion back into the local market, the minister said.
- UAE rose five places in the Competitive Industrial Performance Index issued annually by the United Nations Industrial Development Organization.
Business
Abraaj Group founder faces $135.5m DFSA penalty
The DFSA alleges that the group founder Arif Naqvi was knowingly involved in misleading investors over the misuse of their...
- The DFSA alleges that the group founder Arif Naqvi was knowingly involved in misleading investors over the misuse of their funds by Abraaj Investment Ltd
- The authority says that the fine reflects the seriousness of Naqvi's alleged misdoings and is based on his earnings from the Abraaj Group
Business
Emirates Islamic 2021 net profit $224m on higher non-funded income
Emirates Islamic’s net profit jumped to AED 823 million ($224 million) for 2021 on higher non-funded income and a significant...
- The total income rose by 15 percent due to higher non-funded income.
- Emirates Islamic's major achievements was the successful issuance of a $500 million 5-year Sukuk, the bank said.
Business
Auto alliance to invest $25 bn
The investment in electric vehicles spread over next 5 years.
- Nissan, Renault and Mitsubishi Motors said the latest outlay followed $11 billion already spent on its "offensive strategy in electrification".
- The alliance vowed to boost cooperation by using five common manufacturing platforms for most models.
Sweden’s gaming group Embracer divests Russian assets
Stockholm, Sweden - Swedish gaming group Embracer, which owns the Borderlands franchise and the Tomb Raider license, announced on Thursday that...
Business
Company News
Latest News
Global rice prices hit 15-year high after India curbs: FAO
Rice is a major world food staple and prices on international markets have soared in the wake of the Covid...
Economy
Tabreed signs MoU with Indian state
Asia's largest district cooling PPP project in Hyderabad part of deal.
Business
RAKEZ, Indian Economic Trade Organization ink MoU to boost business ties
RAS AL KHAIMAH, UAE - Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Economic Trade Organization (IETO) have signed...
Business
Most Read
Business
Qatar real estate trading crosses $143m in August 27-31 2023
DOHA, QATAR - The volume of real estate trading in non-residential sales contracts at the Department of Real Estate Registration...
- The total sales contracts for residential units in the Real Estate Bulletin during August 27-31 reached US$75 million.
- The real estate trading in sales contracts in the non-residential category during August 27-31 reached US$ 68 million.
Business
$8.7 billion lawsuit in UK accuses Google of stifling competition
It accuses Google of breaching competition law by shutting out mobile search competition and using its market dominance to increase...
- The claim, filed with the UK Competition Appeal Tribunal, is seeking around £7 billion ($8.7 billion) in damages on behalf of effectively every consumer in the country
- The lawsuit argues that Google abused its dominant position by tying its Search with other apps and services such as requiring smartphone manufacturers to pre-install Google Search
Business
ENOC Group, Kawasaki renew partnership
The pact was signed through ENOC partner CKW Enterprises.
- The agreement grants Kawasaki access to ENOC Group’s advanced lubricants from top-tier mineral oils for regular bikes to fully synthetic oils designed for high-end bikes.
- ENOC said the new products meet an array of standards including, API SP and JASO T903: 2023 MA-2, guaranteeing best-in-class oil thickening and wear protection.