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...Technology
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...Economy
Strategizing internet use key to halt disinformation
“Handling disinformation is the need of the hour. The Global Media Congress will help devise a strategy to use the...The annual Global Media Congress (GMC) in Abu Dhabi aims to strategize the best ways to use the power of the internet and tackle disinformation
Francisco Chacon Hernandez, Ambassador of Costa Rica to the UAE, sees the importance of the GMC as a platform for policy makers to share best practices
Aramco, 5 local firms to jointly work on project in Pakistan
ISLAMABAD, PAKISTAN - Five Pakistani state-owned companies are set to collaborate with Saudi Arabia’s Aramco to execute a $10 billion...The proposed joint venture will establish a mega refinery in Gwadar with a capacity of 400,000 barrels per day.
The government of Pakistan has already approved a refinery policy for new projects in the country.
Egypt calls for renewal of Black Sea grain export deal
MOSCOW, RUSSIA - Egypt's president on Friday called on Russia and Ukraine to find "urgent solutions" to allow the resumption of...Moscow withdrew from the agreement after protesting for months that parts of the deal that allowed for export of Russian fertilizer were not honored.
Russia refused to extend a deal brokered by UN and Turkey, under which Ukrainian grain exports passed through the Black Sea to reach global markets.
ExxonMobil Q2 profits $7.9bn
Profits fell on lower refining margins, natural gas prices.Natural gas prices are down sharply from the year-ago period following a mild winter.
The comparative weakness in refinery margins reflects sluggish economic conditions.
PIF sets up tourism firm Asfar
Firm Saudi Tourism Investment Company has been set up.The company will invest in new tourism projects and develop attractive destinations with hospitality, tourist attractions.
The company will leverage Saudi Arabia’s unique strategic location between the three continents of Asia, Africa and Europe
Tabreed H1 23 net profit $105m
New customers and projects were added in H1 2023.In the first half of the year, Tabreed's revenue increased by 9.4 percent YoY to US$290 million, from US$265 million in H1 2022.
Earlier this month, Tabreed started operating the cooling infrastructure, officially commencing its first operations in India.
Yen swings after Bank of Japan policy tweak, Asian equities mixed
After a closely watched meeting, the Bank of Japan said it would allow "greater flexibility" in government bond markets, having...The currency has been hammered for more than a year as the BoJ refused to shift from its loose policy
With prices picking up at home and the yen struggling, pressure has been growing on the bank to change tack
Evergrande’s e-vehicle unit shares plunge 70% after trading resumes
The company on Wednesday announced its earnings for 2021 and 2022 -- showing a loss of almost $12 billion --...Officials called a halt to dealing in China Evergrande New Energy Vehicle Group (NEV) on April 1 last year after it failed to release its financial results
In its financial results posted Wednesday, NEV said its debt hit 183.9 billion yuan ($25.6 billion) at the end of December 2022
Trade between Russia and Africa totaled $18 bn in 2022: Putin
Moscow, Russia - Trade turnover between Russia and Africa reached $18 billion in 2022, which is one of the results...Last year Russia’s trade with African countries in agricultural products increased by 10 percent to $6.7 billion
Russia exported 11.5mt of grain to Africa in 2022, and almost 10mt in the first six months of 2023
US Federal Reserve’s united fight against inflation enters new phase
Analysts are divided ahead of the Fed's next decision in September, with the so-called "hawks" predicting additional rate hikes in...Thursday's GDP figure for the second quarter came in above analysts' expectations, a day after the Fed hiked its benchmark lending rate to its highest point for 22 years.
The US central bank also left the door open to additional rate hikes, if needed, to get inflation down to its long-term target of two percent.
