UAE’s economy rides on tech and renewable energy
"The UAE's dedication to innovation and international partnerships as vital to enhancing its position on the global economic stage, bolstering...Economy
Female founders flourish in UAE’s startup ecosystem
Over the past decade, the UAE has become a global hub for innovation and entrepreneurship, attracting significant interest from international...Economy
SoftBank Q2 net profit at $21.4b
Firm's reduction of stake in Alibaba partly helped.Falling share prices for many of its tech start-up ventures continue to hurt the company's balance sheet.
The investment behemoth has made huge bets to find and grow new tech companies around the world - making its earnings vulnerable to fickle market forces.
Luxury group Richemont posts H1 2022-23 loss of US$786m
Loss is basically due to the sale of one of its online platforms.The group, owner of the Cartier and Piaget brands, made a profit of US$1.23 billion in the same period last year.
In August, Richemont agreed to sell a large stake in its Yoox Net-A-Porter online luxury sales brand to British e-commerce platform Farfetch.
Global food import bill to jump to record $1.9 trillion: FAO
The new forecast would mark "an all-time high", and is due to the depreciating values of currencies against the US...Ukraine and Russia are agricultural superpowers, with more than 30 nations reliant on them for wheat and sunflower oil exports.
Sub-Saharan Africa, already hard-hit by malnutrition, is expected to spend $4.8 billion more on food imports, despite a decrease in volumes.
Saudi Aramco, Energy ministry ink pact to build a carbon capture and storage hub
Saudi Arabia is embarking on initiatives such as the Saudi Green Initiative and the Middle East Green Initiative to meet...Saudi Arabia is embarking on initiatives such as the Saudi Green Initiative and the Middle East Green Initiative to meet its climate change commitments
The first package of ongoing activities as part of Saudi Green Initiative, includes investments in the green economy worth more than $186 billion
Infra investment key to climate change adaptation
“We need to build a coherent framework of trade and investment policies supported by roadmaps that can accelerate the energy...There is a need to develop climate-smart policies to promote international trade and investment in mitigation and adaptation projects, says WTO official
Fostering cooperation to develop common approaches to carbon pricing is critical to driving new transformations, Dr Ngozi Okonjo-Iweala highlights
Saudi Ports register 15% growth in October container activity
Container throughput the Kingdom's ports continued its upward year-on-year movement during October 2022, soaring to 694,517 twenty-foot equivalent unit at...Growth remained the dominant trend across most cargo categories.
Optimizing operational efficiency and attracting big-ticket investments have remained a major focus for the Saudi Ports Authority.
ArcelorMittal Q3 profit at $993m
Firm is suffering from slowdown in China's economic growth.The steelmaker said it had reduced European gas consumption by 30 percent amid soaring costs.
ArcelorMittal said in September that it would shut down two of its blast furnaces in Europe over high energy prices and lower demand.
Mazda pulls out of Russia JV
Firm to transfer it equity interest to JV partner Sollers.Mazda stopped shipping parts to Russia in March and ended operations the following month.
The company said it signed an agreement last month to transfer all of its equity interest in the Russian business to its joint venture partner Sollers.
Private school operator Taaleem offers 25 percent stake in IPO
Taleem set the price range at AED2.95 ($0.80) and AED3 per share, implying a market capitalization at time of listing... The final offer price is expected to be announced on 18 Nov. 2022. Listing of the shares and trading on DFM is expected to begin 29 Nov. 2022.
The company is seeking to raise total capital of $204 million from the IPO, whose net proceeds will be used to expand its premium K-12 segment, Taaleem said in a statement.
NEOM has a strict data and information security strategy: CEO
Eng. Al-Nasr called for developing new and innovative ways to confront escalation in cyber-attacks and address them quickly.Eng. Al-Nasr called for developing new and innovative ways to confront escalation in cyber-attacks and address them quickly
He called for finding and providing technical security solutions that give access to the best possible safe environment for users of the futuristic city’s technologies
