Maaden Q1 net profit down 81%
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Emaar EC Q1 losses $45m
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Twitter lets users flag ‘misleading’ content
A new test feature will allow some Twitter users mark tweets as "misleading".
- A new test feature will allow some Twitter users in the United States, South Korea and Australia to mark tweets as "misleading" after clicking "report tweet."
- Users can then be more specific, flagging the misleading tweet as potentially containing misinformation about "health," "politics" and "other."
Business
Facebook blocks Taliban’s WhatsApp accounts
Taliban had set up Whatsapp hotline to receive complaints
- Due to US sanctions, Facebook has moved to shut down a WhatsApp hotline the Taliban had set up to receive complaints about violence and looting
- A WhatsApp spokesperson said in an email to AFP that the company is required to follow US sanctions.
Himalaya plans $32m factory in Dubai
The medicines made here will be exported to over 100 countries.
- The facility will produce 3 billion tablets, 15 million syrup bottles, and 3 million units of ointment every year
- It will be set up in Dubai Industrial City, and create hundreds of specialized jobs
Aramco eyes $17bn from gas pipeline
This is on the lines of the $12.4bn it got from the oil pipeline deal.
- Potential bidders include North American private-equity and infrastructure funds, as well as state-backed funds in China and South Korea
- Aramco has reportedly approached them through its advisers before the formal sale process starts in the next few weeks
Saudi Cement Q2 revenue up 17%
It registered revenue of SR348 million ($92.8 million) in Q2.
- The final number was higher than the estimate of SR324 million by 7.6 percent
- Growth in sales was supported by a 21.5 percent y-o-y growth in volume
Etisalat UAE gets new CEO
Masood M Sharif Mahmood has 20 years of experience in the industry.
- Masood M Sharif Mahmood will report directly to the Etisalat Group CEO, a position currently held by Hatem Dowidar
- He currently serves on the boards of Yahsat, the UAE Space Agency, and the Etihad Aviation Group
Business
Khalid Al Qubaisi new ADES CEO
Al Qubaisi served as a VP at Mubadala Investment Company.
- ADES, a TAQA subsidiary, is responsible for retrofitting government and commercial buildings.
- TAQA expects the appointment shows its ambition to become a champion for low carbon power.
Business
Rumailah Farm signs deal
The company will supply dairy products to Address Beach Resort.
- Nestled in the scenic Hajar Mountains overlooking the Gulf of Oman, Address Beach Resort Fujairah officially opened its doors on Jul 15.
- Rumailah Farm currently operates two coffee shops on the UAE’s East Coast, in Fujairah City and Dibba.
Apple defends anti-abuse features
Encryption, privacy specialists have said the tool could be exploited.
- Last week, Apple unveiled two features to debut on iPads and iPhones in the United States
- Encryption and privacy specialists have said the tool could be exploited for other purposes, potentially opening a door to mass surveillance
Ithmaar Holding gains $4m in H1 2021
This is a turnaround from H1 2020, when net loss was $1.29m.
- The increase is reportedly due mainly to the performance of the company’s retail banking assets
- EPS for H1 2021 was $0.14, compared to a negative $0.04 for the same period in 2020
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Gazprom 2022 profit at US$15bn Â
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Maaden Q1 net profit down 81%
Business
Emaar EC Q1 losses $45m
Business
Bing, LinkedIn vow more ads transparency
It comes as EU rules on tech platforms enter into force.
Business
Country Garden withholds repayment vote
The builder has accumulated debts of more than $150bn.
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Business
e& capital invests in Maxbyte
The funding aims to expedite growth by bolstering sales team.
- Maxbyte is a leading provider of Industry 4.0 solutions with a strong presence in the automotive, defense, utilities, and food and beverage sectors.
- It aims to enable smart connected industrial enterprise for flexibility, productivity, predictable revenue and profit growth, as well as sustainability.
Business
Microsoft submits new Activision deal
A previous version of the acquisition deal was blocked.
- Xbox-owner Microsoft launched a bid for Activision Blizzard early last year, seeking to establish the world's third biggest gaming firm by revenue.
- Britain's Competition and Markets Authority said it has "opened a new phase 1 investigation into the restructured deal by Microsoft to buy Activision".
Business
Sukoon Insurance sets up OIWSS
Aim is administration of Employee Money Purchase schemes.
- OIWSS has established a partnership with Intertrust Group.
- OIWSS will be the trustee and the operator of this scheme