Microsoft retires Skype, the online voice and video call pioneer
San Francisco, United States - Microsoft on Friday announced it was retiring Skype, the online voice and video call pioneer...
Science
Asian markets advance after Wall St gains, US Postal Service U-turn
Asian markets rose Thursday, tracking gains on Wall Street and following the US Postal Service's U-turn on a ban on...
Business
Telenor 2022 net profit at $4.5bn
Merger of its Malaysian subsidiary with a firm helped.
- Telenor said it had made good progress in the planned merger of its subsidiary Dtac with True in Thailand.
- The firm maintained its earnings forecast for the current year and proposed a slight increase in its dividend for 2022.
Business
Santander 2022 profit at $10.6bn
The bank's profit got a boost due to higher interest rates.
- Shareholders would receive a payout of around 40% of the group's underlying profit, divided equally between cash dividends and share buybacks
- Central banks have hiked interest rates worldwide in an effort to tame runaway inflation.
Kuwait projects widening $16 bn budget deficit
The budget deficit will swell to five billion dinars (more than $16 billion) for the year starting in April, up...
- The state spending will rise by 11.7 percent to more than $86 billion, with 80 percent going on civil service wages and public subsidies
- Oil revenues are expected to fall by 19.5 percent, they were calculated based on a price of $70 per barrel -- lower than last year's prices
Business
Saudi entertainment authority issues licenses for more than 24 theme parks
According to a study, GEA also authorised permits for almost 1,300 entertainment shows until the end of last year.
- According to a study, GEA also authorised permits for almost 1,300 entertainment shows until the end of last year
- The authority has provided above 630 permits in the field of art and entertainment talent management, the report added
Economy
Judicial reform plans won’t harm economy: Israel’s economy minister
High-tech workers organised their second protest against the measures on Tuesday in central Tel Aviv.
- High-tech workers organised their second protest against the measures on Tuesday in central Tel Aviv
- Leading Israeli economists have warned that the proposed reforms will do "long-term harm" to the Israeli economy
Business
OPEC+ committee recommends to stay course on oil ouput cuts
Vienna, Austria--A committee of major oil producers recommended Wednesday to maintain the cartel's current reduced output strategy, as the global economic...
- The 13 members of the OPEC led by Riyadh and their 10 allies led by Moscow agreed last October to reduce output by two million barrels per day until the end of this year.
- Oil prices spiked following Russia's invasion of Ukraine in February 2022
Economy
Saudi Arabia, Oman sign 13 MoUs to promote investment
The pacts were signed on the sidelines of the Saudi-Omani Investment Forum which is held in Riyadh under the theme...
- The pacts were signed on the sidelines of the Saudi-Omani Investment Forum which is held in Riyadh under the theme of "Partnership and Integration"
- The four-day forum aims to build sustainable partnerships in key sectors and contribute to enhancing mutual interests between the two sides
Economy
UAE, Saudi, Bahrain up rates after Fed’s hike; Qatar keeps status quo
Hours after the US Federal Reserve upped its target interest rate by a quarter of a percentage point, many central...
- The UAE central bank has decided to raise the base rate applicable to the Overnight Deposit Facility (ODF) by 25 basis points
- The US central bank said in a statement that Inflation has eased somewhat but remains elevated
Business
EU unveils proposals to counter US green subsidy, China competition
The majority of the EU's response involves repackaging already existing funds, a stop-gap measure that has earned much criticism. German...
- The measures are a response to a landmark US spending bill last year that funnels $370 billion into subsidies for America's energy transition.
- While countries like France support state aid expansion, others argue that would help only richer member states and fragment the single market.
Economy
Saudi insurance sector adopts International Financial Reporting Standard
The features of the new Standard include standardization of the accounting measurement models for insurance and reinsurance companies around the...
- The features of the new Standard include standardization of the accounting measurement models for insurance and reinsurance companies around the world
- SAMA had committed to a seamless adoption of the IFRS 17 in Saudi Arabia, as a member of the G20, rolling out a transition plan in four phases in 2018
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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
Microsoft retires Skype, the online voice and video call pioneer
San Francisco, United States - Microsoft on Friday announced it was retiring Skype, the online voice and video call pioneer...
Science
Company News
Latest News
ITFC looks to ramp up green financing to 30% of its portfolio
Dubai, UAE-- The International Islamic Trade Finance Corporation (ITFC) is looking to ramp up its sustainable and green financing to...
COP28 UAE
Oil prices up on Saudi, Russia push for output reduction
Riyadh, Saudi Arabia - Collaboration between Saudi Arabia and Russia to drive OPEC+ members toward output cuts has resulted in...
Economy
Most Read
COP28 UAE
COP28 focused on achieving balanced package in negotiations: Majid Al Suwaidi
Dubai, UAE-- The COP28 Presidency is focused on achieving a balanced package in the negotiations, according to Ambassador Majid Al...
- Al Suwaidi said that food systems are very exposed to the effects of climate change, and "COP28 is proud to be elevating them to the highest level of discussions"
- According to the COP28 director general, the global community has raised $2.5 billion to support the food-climate agenda during the World Climate Action Summit
COP28 UAE
‘Private sector plays key role in climate resilience’
Private sector has the ability to mobilize resources and foster innovative solutions for vulnerable communities, Dominica's Environment Minister Cozier Frederick...
- Private sector has the ability to mobilize resources and foster innovative solutions for vulnerable communities, Dominica's Environment Minister Cozier Frederick tells TRENDS.
- Optimistic about COP28's impact and the crucial Loss and Damage Fund, the minister underscores the need for a bottom-up approach and community involvement in climate action.
Digitization helps UAE make supply chain sustainable
"The UAE launched the 'Trade Tech Initiative' in partnership with the World Economic Forum. The initiative aims to accelerate the...
- Green trade as a key driver for a sustainable, resilient global economy.
- E-commerce growth in the UAE contributes to carbon emission reduction.