Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Economy

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

S&P, Nasdaq end at records following Powell speech

Patrick J. O'Hare at Briefing.com said traders were particularly encouraged by Powell's statement that even if the bank tapers bond purchases, that doesn't mean it will soon raise interest rates.
By TRENDS Desk AFP
August 28, 2021 10:35 pm
  • At the closing bell, the broad-based S&P 500 had advanced 0.9 percent to 4,509.37 -- its first close over the 4,500 mark
  • The tech-rich Nasdaq Composite Index jumped 1.2 percent to 15,129.5

Wall Street ended the week with new records after Fed Chair Jerome Powell signaled the central bank could slow its stimulus by the end of the year but is in no rush to raise interest rates.

At the closing bell, the broad-based S&P 500 had advanced 0.9 percent to 4,509.37 — its first close over the 4,500 mark — and the tech-rich Nasdaq Composite Index jumped 1.2 percent to 15,129.5. Both had retreated on Thursday after multiple records.

The benchmark Dow Jones Industrial Average was up 0.7 percent to end at 35,455.8.

[adinserter block="5"]

Most Read

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]