EU skewers Google, Apple over tech rules – despite Trump threats
The European Union defied US threats of retaliation Wednesday by accusing Google of violating its digital rules -- which could...
Science
The future of logistics: Insights from DHL’s Amadou Diallo
The future of logistics is a convergence of technology, sustainability, and human ingenuity, which are transforming supply chains into more...
Interview
Geostrategy
Tunisian footballer reaches Italy on migrant boat, says club
TUNIS, TUNISIA - A goalkeeper at a top-flight Tunisian football club has reached Italy as a clandestine migrant, his club said...
- Tunisia is struggling with a grinding economic crisis that has seen a growing wave of clandestine migration attempts in recent months.
- Rome says over 32,000 migrants, including 18,000 Tunisians, reached Italy from Tunisia last year.
Business
UAB 2022 net profit at US$42m
Total operating income rose 11% in 2022 compared to 2021.
- UAB is focused on positioning itself as the partner of choice among major corporate clientele segments.
- The bank's CEO said that their focus will remain on the delivery of an enhanced customer experience.
Business
Hermes 2022 net profit $3.6bn
Fashion house posted huge earnings despite inflation.
- Sales rose 29 percent to US$12.3 billion at current exchange rates.
- Hermes said its sales rose by 30.7 percent in the Asia-Pacific region, excluding Japan, in the last three months of 2022.
Business
Saudi transport authority signs largest bus transport project
Riyadh, Saudi Arabia---Saudi Arabia's Transport General Authority has signed the largest project for transporting passengers by buses through a network...
- The network, which involved major global alliances, will cover more than 200 cities and governorates.
- The network is expected to serve more than 6 million passengers annually through 76 routes, with a new fleet of buses equipped with the latest technologies.
Business
DEWA, France’s satellite operator Eutelsat discuss cooperation
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer spoke of the...
- DEWA CEO highlighted organization’s key initiatives and projects to promote sustainability, renewable and clean energy, and energy efficiency.
- These include DEWA’s space program (Space D) which supports the National Space Strategy 2030.
Economy
External players give tough race to UAE’s e-commerce
The external e-commerce players, projected to grow by 19.2 percent from 2022 to 2026, are expected to capture a share...
- The external players, projected to grow by 19.2 percent from 2022 to 2026, are expected to capture a share of 34 percent of the total online shopping in the UAE.
- The size of the UAE e-commerce sector will reach US$ 9.2bn by 2026, growing at a compound annual growth rate of 12.6 percent, says Dubai Chamber of Commerce
Business
Centrica 2022 profit US$4bn
Firm's profit rose due to gas and crude oil prices spike.
- Britain's government of Prime Minister Rishi Sunak is temporarily subsidizing electricity and gas bills this winter.
- Centrica expanded its stock buyback scheme to hand another $360 million to shareholders.
Economy
Protestors ransack banks in Lebanon as currency hits record low
Lebanon's cash-strapped banks have imposed strict restrictions on withdrawals, barring depositors from accessing their savings, especially those in US dollars.
- The pound is trading at about 80,000 to the greenback on the black market versus 60,000 at the start of the month.
- around 50 protesters smashed the facades of four banks and burned car tires in the central Beirut neighborhood of Badaro.
Business
Investopia, Mubadala ink strategic partnership
DUBAI, UAE - Investopia, the global investment platform launched by the UAE Government, and Mubadala, the sovereign investor, announced a...
- Mubadala and its portfolio companies will expand their participation across the different activities taking place during Investopia.
- The pact will include the participation of Mubadala’s senior leadership in the program, the firm's engagement in the various activities targeting start-ups.
Business
Abu Dhabi Chamber, India’s FICCI explore areas of collaboration
ABU DHABI, UAE - The UAE and India share solid relations, said the Abu Dhabi Chamber of Commerce and Industry...
- The Indian delegation was headed by the Assistant Secretary-General of the Federation of Indian Chambers of Commerce & Industry.
- The delegation included representatives of over 30 private companies across a wide range of industries.
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
EU skewers Google, Apple over tech rules – despite Trump threats
The European Union defied US threats of retaliation Wednesday by accusing Google of violating its digital rules -- which could...
Science
Company News
Latest News
Oil prices rise following Red Sea attacks
Oil prices shot up three percent as more companies suspended shipping through the Red Sea following attacks on vessels by...
Market Report
Saudi Arabia, South Korea ink pact to manufacture vaccines, biotech solutions
Seoul, South Korea - Saudi Arabia and South Korea on Sunday signed a Memorandum of Understanding (MoU) to collaborate in...
Economy
Enhanced norms help UAE win financial crime battle
“This has led to heightened compliance levels with the country's laws, aligning with global efforts to combat money laundering and...
Economy
Most Read
COP28 UAE
Innovative solutions crucial for marine conservation
The MENA Oceans Network, launched at the COP28, marks a pivotal step in addressing urgent ocean-related challenges in the region,...
- The MENA Oceans Network, launched at the COP28, marks a pivotal step in addressing urgent ocean-related challenges in the region, says Tatiana Antonelli Abella of Goumbook.
- This multi-stakeholder initiative, supported by the UN-UAE Office, aims to enhance marine conservation, promote a sustainable blue economy, and support SDG14 drive, she adds.
Geostrategy
Plan to end e-vehicle subsidies sparks anger in Germany
BERLIN, GERMANY - The German government on Sunday faced a backlash after abruptly ending an electric car subsidy scheme in a...
- The economy ministry said on Saturday that Sunday would be the last day prospective buyers could apply for the scheme.
- Under the scheme, the government paid out thousands of euros per customer to partially cover the cost of buying an electric car.
Economy
Qatar records 6 percent drop in Industrial Production Index in October
Doha, Qatar-- Qatar has recorded a 9.3 percent drop in the Industrial Production index (IPI) in the month of October...
- The mining sector posted an 11.1 percent fall as compared to September due to the decrease in the quantities of "crude oil petroleum and natural gas"
- However, manufacture of cement and other non-metallic mineral products posted a 4.3 percent jump, and printing and reproduction of recorded media increased by 3.2 percent