Boeing expects Q1 hit from MAX troubles
The airline backs intensified oversight from the FAA.
Business
Bitcoin crosses $50,000 for first time since 2021
The cryptocurrency has enjoyed a strong run-in recent month, fueled by expectations US lawmakers would allow the creation of exchange-traded...
Business
Business
Armani adopts fur-free policy
The company said it would no longer use angora wool.
- The company said it would no longer use the material across all of its lines from next year's fall-winter collection
- A growing number of fashion companies are adopting policies against using materials that require cruelty towards animals
Business
OPEC and allies may freeze oil output
The OPEC+ alliance led by Saudi Arabia and Russia has so far resisted US-led pressure to significantly boost output to...
- The emergence of the new Omicron variant of Covid-19 has put a shadow on whether OPEC+ will increase or decrease production
- The variant has led countries to reinstate travel bans and mull further restrictions that could tighten demand and hurt oil prices
Business
UAE’s first drone delivery service provider breaks two Guinness records
UAE's first licensed drone delivery service provider, BARQ EV, has broken two Guinness World Records-- the longest (13.58km) flight of...
- BARQ EV broke the record for the longest (13.58km) flight of a drone for the delivery service.
- It also broke the longest (18.065km) non-stop return flight for a drone record.
Business
ADNOC to invest $127bn in 2022-2026
The company announces a significant rise in oil and gas reserves.
- ADNOC plans to bring $43 billion back into UAE economy through ICV program.
- ADNOC's ICV program has driven AED105 billion back into the UAE economy and created over 3,000 jobs for UAE nationals.
Business
Man Utd’s Glazer buys T20 franchise in new UAE league
Manchester United co-chairman Avram Glazer has acquired a franchise for a new T20 professional cricket league in the United Arab...
- The news comes after the Glazer family were outbid in their attempt to buy one of the two new franchises in the Indian Premier League
- "I am very excited to be a part of UAE T20 at its formation," Avram Glazer said
Economy
‘Physical currency won’t disappear anytime soon’
Ralf Wintergerst, Group CEO of 170-year-old German firm Giesecke+Devrient (G+D), said physical currency is a resilient form of payment and...
- Ralf Wintergerst said digital currency is a central bank-issued digital form of physical money and that it was different from cryptocurrency.
- In Germany and the Middle East there are a lot of opportunities for moving things like government services to people directly with digital solutions.
Business
dnata named Ground Support Services Provider of the Year for eleventh time
For the 11th time, dnata has been named Ground Support Services Provider of the Year at the 2021 Aviation Business...
- The company offers ground handling and cargo services at over 90 airports in 15 countries.
- As part of infrastructure growth, dnata broke ground on the second phase of the dnata City East project at London Heathrow.
Business
GACA, Cisco sign MoU
The MoU will enhance the scope of digital transformation.
- The memorandum will enhance the scope of cooperation in technology and digital transformation in the civil aviation sector
- The GACA is keen to collaborate with international companies specializing in advanced technological fields to keep pace with the latest developments
Economy
Tech 2022 trends: Meatless meat, Web 3.0, Big Tech battles
Meat alternatives have become common in an increasing number of US households, thanks in part to Beyond Meat and Impossible...
- Meat alternatives have become common in an increasing number of US households, thanks in part to Beyond Meat and Impossible Food plant-based products
- In web 3.0, "users, creators and developers would have stakes and votes" in a platform in much the way a cooperative works
Business
Emirates, Al Jazeera among 44 GCC brands to win World Branding Awards 2021-2022
A total of 44 GCC brands, which include Emirates, Aljazeera, and ADNOC Distribution, figure in the 2021-2022 World Branding Awards....
- From the GCC region, Saudi Arabian brands win the maximum number of awards, followed by Bahrain.
- Al Jazeera and Ooredoo among the six winning brands from Qatar.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Boeing expects Q1 hit from MAX troubles
The airline backs intensified oversight from the FAA.
Business
Company News
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DEWA picks bidder for 1,800MW phase of Al Maktoum Solar Park
Dubai, UAE -- In a step towards its clean energy ambitions, the Dubai Electricity and Water Authority (DEWA), has announced...
Business
QCB to grant licenses to website providers for comparing prices of insurance policies
Doha, Qatar--Qatar Central Bank (QCB) has exhorted companies willing to work in providing website services to compare prices of insurance...
Business
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Infographics
Saudi home to three of top five Arab smart cities
Saudi Arabia, which has pioneered the development of smart cities in the region, plans to establish more than 200 smart...
- The Middle East and North Africa's smart city spending is expected to reach $2.7 billion by 2022, driven primarily by the region's progressive, innovative city projects.
- NEOM, Egypt's New Administrative Capital, Abu Dhabi's Masdar City, and Dubai Digital Park are examples of this trend.
Business
Cage fight with Zuckerberg will be in Italy, says Musk
WASHINGTON, US - Elon Musk said that his much-hyped cage fight with Mark Zuckerberg would take place in Italy, as authorities...
- Musk said on his X social media platform - formerly known as Twitter - that arrangements were advancing.
- Meta chief Zuckerberg responded on his Threads social network, posting a photo of himself shirtless and pinning down an opponent.
Business
EDGE signs agreement with Turbomachine to jointly build engines
Abu Dhabi, UAE--EDGE has signed an agreement with Turbomachine to work together on the development of engines, including turbofan and...
- The agreement will enable both to work together on the development of engines, including turbofan and propellant fan
- The Brazilian company specialises in research, innovation, and engineering and development of gas turbine engines