Ford to pay US$365m in US tariff fraud case
It will settle a civil suit linked to the disguising of imported vans.
Business
Bitcoin hits fresh record above $72,000
Bitcoin hit a fresh record above $72,000 on Monday as demand for the cryptocurrency picks up amid optimism that the...
Business
France hits Google, Facebook with huge fines over ‘cookies’
Cookies are little packets of data that are set up on a user's computer when they visit a website, allowing...
- Cookies are little packets of data that are set up on a user's computer when they visit a website, allowing web browsers to save information about their session
- They are highly valuable for Google and Facebook as ways to personalise advertising -- their primary source of revenue.
Economy
Iraq acquires ExxonMobil share
The share was bought by Iraqi national oil company.
- The share was bought by Iraqi national oil company in the West Qurna field
- The field is one of the giant fields, the Iraqi oil ministry statement said
Business
‘Social media key to brand identity in 2022’
Changes in digital marketing have forced the hand of digital marketers in a do-or-die way, says Farhad Divecha, founder and...
- Changes in digital marketing have forced the hand of digital marketers in a do-or-die way, says Farhad Divecha, founder and MD of AccuraCast, a UK leading digital marketing agency
- Social media sites, according to Divecha, are where consumers turn to when they want to find out about or engage with a brand, So having that presence is as important
Business
Many firms to join Pure Health
ADQ signs pact to create UAE's biggest healthcare platform.
- Under the pact, Abu Dhabi Health Services Company (SEHA) and The National Health Insurance Company PJSC (Daman) will merge into Pure Health.
- Tamouh Healthcare, Yas Clinic Group and Abu Dhabi Stem Cell Centre will also join Pure Health, which already has a diversified services portfolio.
Economy
Iran supplies gas for domestic consumption despite challenges: Minister
The Oil Minister of Iran Javad Owji has said that his country has not faced the need to cut the...
- Iran used around 600 million cubic meters, around 100 million cubic meters in power generator stations, or its equivalent in gas oil, said oil minister Javad Owji.
- The country has not faced the need to cut the gas in any area despite decreased pressure problem, he said.
Business
Barter best payment method in Iran-Pakistan trade: Official
The Secretary-General of Iran-Pakistan Joint Chamber of Commerce Fahimeh Damroudi said that barter is the best choice of exchange as...
- Iranian President Ebrahim Raisi has repeatedly underlined the importance of trade development with neighbors.
- Iran's foreign trade reached $72.1 billion during the first nine months of the Iranian calendar year.
Business
Mumzworld CEO says committed to supporting Mideast businesswomen
Mumzworld has over 350 staff, with over 6,000 brands and more than 300,000 products for sale on the website, and...
- Mumzworld was built in 2011 to support women in the Arab world and help them to make informed decisions for their families.
- Ataya told that she would use her new role as a mentor, and sharing the knowledge, skills, and successes with other women.
Business
ADNOC awards $946m EPC contract
The contract awarded to NPCC for the development of Umm Shaif field.
- Over 75 percent of the total award value will flow back into the UAE economy under ADNOC’s In-Country Value (ICV) program.
- The award covers engineering, procurement, fabrication, installation and commissioning activities required to maintain Umm Shaif’s 275,000 mbd of crude production.
Business
Ooredoo, Hutchison merge
New company is named as PT Indosat Ooredoo Hutchison Tbk.
- The newly merged company will do business as PT Indosat Ooredoo Hutchison Tbk
- Indosat Ooredoo Hutchison has the scale to accelerate Indonesia's transformation into a digital society
Business
Japan tuna fetches $145,000 as Covid-19 affects year’s first auction
The buyer hoped that the first purchase would 'brighten' a Covid-hit 2022 for customers.
- The price paid for a tuna at the first auction of the year at the Toyosu fish market fell for the third year running
- The first tuna auction of the year in Tokyo is a closely watched affair where enormous sums are often paid
Ford to pay US$365m in US tariff fraud case
It will settle a civil suit linked to the disguising of imported vans.
Business
Company News
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Bitay to expand in UAE’s burgeoning crypto market
DUBAI, UAE – Bitay, a cryptocurrency platform from Turkey, announced its expansion into the UAE's burgeoning crypto market. The UAE,...
Business
UAE economy expected to grow by 3.5 percent in 2023, says UBS
ABU DHABI, UAE - Chief Investment Officer, Emerging Markets at UBS Global Wealth Management Michael Bolliger forecasts the UAE's gross...
Economy
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Business
Global construction industry projected to reach $12.9 trillion by 2028
Dubai, UAE -- The global construction industry is projected to reach a staggering $12.9 trillion by 2028, with a robust...
- The study says residential construction will continue to dominate, driven by rising per capita income and disposable income.
- The Asia Pacific region is poised to retain its leadership position, attributed to increasing urbanization and robust infrastructural development.
Business
ADGM’s Registration Authority fines KPMG Lower Gulf $30,000
Abu Dhabi, UAE -- The Registration Authority (RA) of Abu Dhabi Global Market (ADGM) has fined ADGM-registered audit firm, KPMG...
- ADGM audit regulatory framework requires audit reports to be issued and signed by ADGM Registered Audit Principals on behalf of an ADGM Registered Auditor.
- Prior to imposing the penalty, the RA had engaged in ongoing communication with KPMG over a period of several months, ADGM said.
Business
Viacom18 nets Indian cricket broadcast rights for $721 million
Media rights are a huge earner for the Board of Control for Cricket in India (BCCI), one of the richest...
- The agreement priced the average match nearly 13 percent higher than the $944 million rights deal for 2018-23 signed by Star, Disney's local subsidiary.
- Star had held the rights to broadcast international matches since 2012 and was also a bidder in Thursday's auction, along with Sony Sports.