Inditex posts record net profit
Inditex, the world's biggest fashion retailer, is owned by Zara.
Cyber insurance shapes the future of cybersecurity
Cyber insurance, particularly around ransomware, is moving towards a world where insured businesses have strong cyber resilience, well-defined disaster recovery...
Opinion
Business
Microsoft to buy Activision Blizzard
The $69-billion deal is the largest acquisition in the gaming world.
- The deal will make Microsoft the third-largest gaming company by revenue, behind Tencent and Sony
- This will be the largest acquisition in the industry, far ahead of Take-Two's $12.7-billion purchase of Zynga
Business
AT&T, Verizon agree to delay 5G activation at some airports
US Telecom giants AT&T and Verizon will delay the implementation of their 5G network on a "limited number" of towers...
- AT&T and Verizon agreed on partial delay of their 5G deployment as US airlines warned of "major operational disruptions" due to the rollout
- The FAA has approved some transponders to be safely operated within areas where 5G will be deployed
Business
World tourism won’t return to pre-Covid levels until 2024: WTO
In Europe and the Americas, foreign visitor arrivals surged by 19 percent and 17 percent, respectively, last year over 2020....
- Tourism revenue in 2020 was 72 percent down on the previous year which closed with the Covid onset
- The highly contagious Omicron variant, though mild, will "disrupt the recovery" in 2022
Business
Ferrari World and Warner Bros. break Guinness Records titles
Ferrari World Abu Dhabi and Warner Bros. World Abu Dhabi broke two Guinness World Records titles in celebration of the...
- Warner Bros. World Abu Dhabi broke the record title with 20,482 contributions during the festive season
- The Park broke the record title with 4,826 contributions breaking the previous world record of 2,462
Business
Europe showcases work on circular economy at Expo 2020
An event at the Expo 2020 Dubai showcased Europe's work for the transition to the circular economy and how it...
- The event showed Europe's willingness to foster international cooperation especially in a time of post-pandemic awareness and recovery
- The function opened with a welcome speech by Executive Vice President Frans Timmermans and will close with a message from Environment Commissioner
Business
Masdar joins consortium to build solar power facilities in Indonesia
Masdar will be joining a consortium that will develop solar photovoltaic facilities with a capacity of about 1.2 gigawatts and...
- The renewable energy company signs MoU with Singapore’s Tuas Power, France’s EDF Renewables and PT Indonesia Power.
- Singapore is looking to import as much as 4 gigawatts of low-carbon electricity by 2035, which would constitute 35 percent of its total supply.
Business
SCCI teams up with Emirates Creative to support innovation
The Sharjah Chamber of Commerce and Industry (SCCI) has signed a strategic cooperation agreement with the Emirates Creative Association to...
- Both have agreed to develop methods for systematic research, sponsoring and organizing conferences
- They also agreed to launch an action plan to implement joint projects in creativity and innovation
Business
Al Rajhi issues $1.17 bn Sukuk
The settlement issuance was set on 23 January 2021.
- The number of Sukuk stands at 6,500, based on the minimum denomination and total issue size.
- The return on the Sukuk offering is estimated at an annual fixed rate of 3.5 percent.
Business
Expo 2020 hits a new milestone with 10m visits so far
Expo 2020 Dubai visitor numbers continue to rise, reaching 10,188,769 visits as of 18th January, while Expo 2020 Dubai’s virtual...
- The visitors were attracted by the first Global Goals Week to be held outside of New York and a star-studded K-pop concert
- All Expo visitors ages 18 and above must show either proof of vaccination or a negative PCR test result taken within the previous 72 hours
Business
Bahrain private sector keen to strengthen trade ties with Saudi: BCCI chairman
BCCI chief reviewed ways to further increase the volume of bilateral trade
- Chairman Sameer bin Abdulla Nass appreciated the 'depth and solidity' of the Bahraini-Saudi economic and investment relations.
- Nass praised the role played by Saudi Arabia to enhance the progress and prosperity of the people of GCC.
Inditex posts record net profit
Inditex, the world's biggest fashion retailer, is owned by Zara.
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Saudi construction sector employs 3 million workers
GCC countries employ close to 20 million foreign workers, who are subject to vastly different conditions and wags compared to...
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A glimpse into GCC’s financial evolution
As the winds of change blow, three major forces—regulation, consolidation, and digitization—are shaping the trajectory. These elements intertwine, creating a...
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21 agreements and MoUs signed at Saudi-Italian Investment Forum
Milan, Italy -- The Saudi-Italian Investment Forum, jointly organized by the Saudi Ministry of Investment and the Italian Ministry of...
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Gaming industry posts exponential growth in Saudi Arabia: PayerMax COO
Riyadh, Saudi Arabia-- The gaming industry has witnessed exponential growth in Saudi Arabia with an average revenue per paying user...
- By the end of the decade, Saudi Arabia's Vision 2030 aspires to make the kingdom a global hub for gaming and esports
- According to Essay Zhu, Partner & COO of PayerMax, the industry is rapidly evolving in the region, driven by technological advancements
Business
Meeza, QNBFS sign agreement
The liquidity agreement is for Meeza's listed shares on QSE.
- The liquidity provision service is expected to start on September 7, 2023, according to a statement published on the QSE
- Meeza, a Qatar-based venture, is helping speed up Qatar's growth through the provision of top-notch IT services and solutions
Qantas CEO steps down early as airline falls out of favour
Irish-born Joyce has been in charge for close to 15 years, often delivering bumper profits for shareholders and safeguarding the...
- 102-year-old airline has long been seen as a national champion, epitomising globetrotting Aussies' sense of adventure and embodying the "Spirit of Australia"
- Qantas posted an annual profit of US$1.1 billion last month, capping a major financial rebound from the Covid-19 years, when Australia virtually shuttered its borders