35 Jordanian companies to participate in Gulfood 2024 in Dubai
AMMAN, JORDAN – A total of 35 Jordanian companies are taking part in Gulfood 2024, the world's largest annual food...Business Economy
Tunisia gets new central bank chief amid economic crisis
TUNIS, TUNISIA - President Kais Saied on Thursday appointed a new governor of the central bank of Tunisia, a north African...Banking & Finance Economy Geostrategy
5.3 billion cell phones to become waste in 2022
Defunct cell phones are just the tip of the 44.48-million-ton iceberg of global electronic waste generated annually that isn't recycled.Despite containing valuable gold, copper, silver, palladium and other recyclable components, these devices will be dumped or incinerated, causing environmental harm.
Studies show 46 percent of the 8,775 households surveyed considered potential future use as the main reason for hoarding small electrical and electronic equipment.
VW, Horizon Robotics plan JV
JV will help in strengthening VW's presence in China.Volkswagen's software arm Cariad will hold a 60 percent stake in the new company, with the deal set to close in the first half of 2023.
As part of its transition to electric vehicles, Volkswagen has long been investing in China.
Infosys Q2 profit at US$731.4m
The firm approved a $1 billion share buyback after Q2 result.Tech companies have benefited from higher digital services demand since the pandemic,.
Infosys also reported a marginally lower employee attrition rate - a key metric for IT companies - compared to the previous quarter.
Fast Retailing posts yearly net profit at US$1.86bn
Firm owns Uniqlo, Comptoir des Cotonniers clothing brands.Following years of aggressive global expansion, Fast Retailing is one of the world's biggest clothing retailers.
As well as Uniqlo, it owns the clothing brands Theory, Comptoir des Cotonniers and lingerie label Princesse Tam Tam.
Saudi Arabia dismisses statements critical of OPEC+ quota cut
A few days after US President Joe Biden said that there would be consequences for Saudi Arabia on its decision...The United States accused Saudi Arabia of kowtowing to Moscow, which objects to a Western cap on the price of Russian oil in response to its invasion of Ukraine
The Saudi foreign ministry statement stressed the “purely economic context” of the oil cut
Fans warned to be ready for World Cup queues
Private cars will be banned from many streets and residents near some stadiums will need permits to get to their...The gulf state of 2.9 million people will be the smallest to hold the World Cup that starts November 20
Qatar has spent billions of dollars on a state-of-the-art driverless metro rail network that serves five of the eight stadiums
Customers feel better with ‘Buy Now, Pay Later’ plans
Buy Now, Pay Later services provide customers the functionality of credit cards-- easy payments with no cash. But BNPL usually...BNPL providers pay retailers upfront and lend money to customers while taking on all of the program's administrative costs and credit risk.
The appeal of BNPL also lies in the fact that vast amounts of consumer data can be used by retailers to enhance customer loyalty by offering more targeted products.
ENOC unveils service station of future for public at Expo City
Dubai, Abu Dhabi -- ENOC Group announced Wednesday that its Service Station of the Future is now open to the...Expo City Dubai is now ready to host 145,000 residents and workers, becoming the UAE’s first 15-minute city.
This includes amenities in close proximity to the 85 start-ups and small businesses that occupies the commercial space.
IMF says countering inflation with tax cuts would be ‘too costly’
The fund's comments, in its latest Fiscal Monitor report, come as food prices have surged by half since 2019 while...Countries all around the world are facing more pressing and more painful trade offs," said Vitor Gaspar, director of IMF's fiscal affairs.
Countries may need to raise added revenues and contain the growth of other expenditures as they prioritize policies, the fund said.
Biden to ‘re-evaluate’ Saudi ties after OPEC snub
The 13-nation OPEC cartel and its 10 allies headed by Moscow angered the White House last week with its decision...Saudi Arabia has defended the planned production cuts, saying the priority of OPEC+ was "to maintain a sustainable oil market"
Partnership between US and Saudi Arabia was sealed after World War II, providing the kingdom with military protection in exchange for American access to oil
