Honda and Nissan expected to begin merger talks
Honda and Nissan were poised Monday to announce the start of talks on a merger to help the Japanese giants...
UAE says will not arm Sudan paramilitary RSF: White House
Washington, United States -- The United Arab Emirates has informed the United States that it will not arm paramilitaries in Sudan's...
Geostrategy
Economy
Jordan’s investments increase by 47.6% in H1 2023
Amman, Jordan - Jordan's total volume of investments witnessed a 47.6 percent increase, according to data released by the Ministry...
- The total investment volume reached $841.6 million, compared to $570.2 million during the same period in 2022
- 236 investment projects capitalized on the advantages offered by the Investment Environment Law
Business
STC reports record revenues in H1 2023
The company's gross profit reached $4,929 million.
- The gross profit reached $4,929 million, representing a growth of 0.90% YoY
- The net profit surged to $1,625 million, registering a growth of 4.17 percent
Economy
UAE to establish prosecution entities specialised in economic crimes, money laundering
Abu Dhabi, UAE - The UAE is establishing federal prosecution entities specialised in economic crimes and money laundering, to develop...
- The establishment of these entities also represents a first step towards investigating and cracking down on crimes such as corporate crimes
- The entities will enhance the UAE’s competitiveness as a global financial and business hub for investment and improving the quality of criminal investigations
Saudi Arabia’s mining company Ma’aden to buy 10% of Brazilian firm
Riyadh, Saudi Arabia - Saudi Arabian Mining Company, known as Ma’aden, has agreed to acquire a 10 percent stake in...
- Manara’s investment into Vale will play a key role in helping it expand the production of copper and nickel
- A binding agreement was signed by Manara, Ma’aden's joint venture, established with the Public Investment
Business
Generative AIs transform everyday lives, enterprises
Despite challenges such as reliability, privacy issues, and potential bias, moderation filters and a 'human in the middle' approach can...
- GenAI models can enhance NLP-based applications, improve enterprise-wide search capabilities, and extend into image recognition
- The technology can be used for a variety of enterprise use cases, from writing emails and reports to assembling marketing campaigns
Business
Masdar, Iberdrola to invest in US$1.77bn German wind farm
The UAE's firm signed an agreement with Iberdrola to co-invest in the 476-megawatt Baltic Eagle offshore wind farm in the...
- Masdar's CEO Mohamed Jameel Al Ramahi and Iberdrola's Executive Chairman Ignacio Galan signed the deal
- For close to seven years now Masdar has revolutionized the clean energy sector in the UAE, and beyond
Economy
Abu Dhabi-Japan deal to boost economic diversification
“Our cooperation with Japan External Trade Organisation (JETRO) is part of these efforts as Japanese experience and progress reflect role...
- Rashed Abdulkarim Al Blooshi, Undersecretary of the ADDED, highlights the importance of human development in Abu Dhabi's economic diversification efforts
- The Abu Dhabi Residents Office, an ADDED arm, and JETRO have signed an MoU to bolster efforts in attracting specialized talent and investors across the sectors
Business
Middle East, major buyer of Basmati rice, could be hit by India’s rice ban
Mumbai, India: The world's biggest rice exporter India has banned some overseas sales of the grain "with immediate effect", the...
- Middle Eastern countries are one of the major importers of India’s basmati rice - a variety of long, slender-grained aromatic rice
- Earlier this year, Iran, Saudi Arabia and Iran accounted for 50 percent of total shipments of India’s export of this variety
ADCB logs 23% Q2 net profit
The company's interest income reaches $797m.
- The bank’s interest income reached $797 million marking a 14 percent YoY increase
- The cost to income ratio improved by 450 basis points YoY to 32.0 percent
Business
Sharjah nurturing publishing sector for five decades
“Sharjah has hosted the world’s largest book fair in terms of buying and selling of copyrights, developed pioneering business solutions...
- Sharjah Book Authority's contributions remain crucial in achieving cultural goals, says SBA Chairperson Sheikha Bodour Al Qasimi
- Sheikha Bodour emphasizes the vision and need to build Sharjah as a global beacon of knowledge, creativity, and innovation
Honda and Nissan expected to begin merger talks
Honda and Nissan were poised Monday to announce the start of talks on a merger to help the Japanese giants...
Company News
Tesla Q2 auto deliveries surge
Business
Latest News
COP29 finance draft: Arab nations ask developed nations to commit $441bn
Paris, France -- The UN has published a draft on climate financing due to be presented at the COP29 in November,...
Geostrategy
West Bank city ‘cut off from the world’ as Israeli assault drags on
Jenin governor Kamal Abu al-Rub told AFP that even he does not know exactly what is happening inside the camp,...
Geostrategy
Telegram boss Durov free but charged and held in France
Paris, France -- Telegram chief Pavel Durov was spending Thursday out on bail after four days of detention in France, banned...
Geostrategy
Most Read
Business
Investors hold breath as Nvidia earnings loom, stock markets subdued
Paris, France -- US shares fell marginally and European stock markets mostly inched higher Wednesday as investors cautiously awaited the latest...
- Traders are also waiting for key US economic data later this week that could provide clues about the size of an expected interest-rate cut next month.
- In New York, the main indexes were all down slightly shortly after opening. In Europe, London's FTSE 100 Index was lower, while Paris and Frankfurt were higher.
Geostrategy
SpaceX postpones historic mission featuring first private spacewalk
United States -- SpaceX postponed once more its attempt at launching a daring orbital expedition featuring an all-civilian crew that...
- SpaceX announced late Tuesday it was pushing back the launch plans "due to unfavorable weather forecasted in Dragon's splashdown areas off the coast of Florida".
- SpaceX Dragon capsule is set to reach a peak altitude of 870 miles (1,400 kilometers) -- higher than any crewed mission in more than half a century, since the Apollo era.
Geostrategy
UAE seeks consular services for arrested Telegram boss
"The UAE is closely following the case of its citizen Pavel Durov, founder of Telegram, who was arrested by the...
- He is accused of failing to curb the spread of illegal content on Telegram, which has more than 900 million users. The company has rejected the accusations.
- Durov set up Telegram after leaving Russia a decade ago, and Forbes magazine estimates his current fortune at $15.5 billion.