Business
STC net profit $2.32 bn for 9 months
Net profit in Q3 alone increased by 5.71 percent
- The company attributed the rise in profits in the third quarter to the rise in revenues and a decrease in operating expenses.
- STC's shares are up nearly 20 percent so far this year
Business
VPS behind T20 bio-bubble
There will be over 2,200 people in the bio-bubble this time.
- The ICC World Cup T20 bio-bubble will consist of players, supporting staff and their families, and broadcast crew
- There will also be BCCI and International Cricket Council officials, staff at the hotel and stadium, and selected medical personnel
Business
Tamatem pushes Arabic games
This Jordanian firm is being praised for Arabic mobile games.
- Founded in 2013, Tamatem now has offices in the United Arab Emirates and Saudi Arabia
- It has published more than 50 mobile games, which have been downloaded more than 100 million times
Business
Kuwait Oil Co to hike output
KOC plans to hike capacity to 3.2 million bpd by 2025.
- The main projects to hike capacity are said to include two new gathering centers, complete revamp of others, and building water-handling facilities
- They also reportedly include building water injection facilities, and upgrading current production facilities
Business
New leaks rock Facebook
Internal documents seem to support the accusations.
- Facebook held back from doing all it could to stop users from being radicalized, say recent leaks
- It is also accused of not doing enough to stop US election misinformation from flooding the social network
Business
Banan to distribute cash dividends
The shareholders will get dividends for the period ending June 30.
- Banan Real Estate Company focuses on the investment and development of commercial, hospitality, and residential real estate.
- The dividends will be distributed automatically by depositing in the investment accounts linked to the shareholders’ portfolios.
Business
QatarEnergy partners for UK project
This is QatarEnergy and Shell’s first hydrogen agreement.
- QatarEnergy and Shell have signed an agreement to pursue joint investments in blue and green hydrogen projects in the UK
- It apparently establishes a framework for collaboration and joint investment to develop hydrogen solutions in the UK
Business
TAQA lands Aramco water project
The project will be used to make power and desalinate water.
- The Abu Dhabi National Energy Company or TAQA will develop a greenfield cogeneration power and water desalination project in Saudi Arabia
- TAQA will do this along with the Marubeni Corporation for Saudi Aramco
Business
Zain Group unveils unit to help boost regional telecom infrastructure
ZainTech will provide solutions for Cloud, Cybersecurity, Big Data, IoT, AI, Smart Cities and Emerging Technologies while incorporating NXN and...
- Solutions for Cloud, Cybersecurity, Big Data, IoT, AI, Smart Cities and Emerging Technologies remain key focus
- Andrew Hanna has been appointed CEO of the newly launched ZainTech
Science
Rio Tinto to ‘halve’ emissions
Mining releases 4-7% of global greenhouse gas emissions.
- Rio Tinto said it would spend around $7.5 billion from now until the end of the decade to reduce emission
- The cut would be to so-called scope one and two emissions — from mining operations and power consumption
Company News
Ant Group to buyback shares
Business
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Verition opens office in DIFC
Business
EIH buys stake in Al Ain Pharmacy
Move aligns with EIH's aim to diversify sources of investment.
Business
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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.
Business
Mubadala launches ‘Capital Solutions’
The new platform offers bespoke solutions to investors.
- The Mubadala Capital Solutions platform is comprised of three fully integrated strategies to provide investors with access to a range of fund managers and direct opportunities.
- The first strategy within the Mubadala Capital Solutions platform is a diversified, evergreen investment product focusing on private market opportunities.
Business
Birkenstock to enter stock market
Birkenstock employs around 6,200 workers globally.
- The footwear brand announced Tuesday it was preparing to take another step into the big leagues with an IPO in New York.
- Birkenstock's most famous sandal is the Arizona, which features two wide straps with buckles, on trademark cork and latex soles.