Hub71 and Yahsat are both supported by Mubadala investment company.

It posted a net profit of $1.36bn in H1.

Owing to Covid restrictions in central China, Apple has said that production at the world's largest iPhone factory has been "temporarily impacted", warning that customers will now face longer wait times. It said the curbs have affected the primary iPhone 14 Pro and iPhone 14 Pro Max assembly facility.

It will run new flights to Europe and Asia in 2023.

Cairo, Egypt— Suez Canal Authority will make an investment of $550 million in the current fiscal year, according to Minister of Planning and Economic Development Hala Saeed. This comes as the authority – which owns and operates the Suez Canal – is targeting to increase the production rates. The revenue...

Meta is planning to sack thousands of employees this week, becoming the latest tech firm to scale back its workforce. According to the Wall Street Journal the layoffs could impact "many thousands" of Meta employees. The company has about 87,000 employees worldwide working across its different platforms.

Kuwait City, Kuwait - The Kuwait Integrated Petroleum Industries Company (KIPIC) has started commercial operations of the first phase of Al-Zour Refinery project. The project started last month to produce and sell primary quantities of fuel oil and supply it to local electric power stations. Acting CEO of KIPIC Waleed...

The MoU is aimed at maintenance, repair, overhaul.

Tens of thousands of cyclists rode down the skyscraper-lined superhighway that meanders through the middle of Dubai on Sunday morning, taking part in the Dubai Fitness Challenge event. In order to ensure safe passage for the cyclists, the RTA closed the road to traffic for nearly five hours.

Doha, Qatar— Qatar Civil Aviation Authority has promised a "unique travel experience" for football fans of the World Cup in the country with preparations for the global event having already been completed. Mohammed Faleh Al Hajri, in charge of managing Civil Aviation Authority, said preparations for the FIFA World Cup...

A week after Elon Musk took over the company, Twitter has begun rolling out a controversial new paid subscription system. Musk's promises and provocations have set off a wave of reactions, including warnings from the UN and an apology from Twitter's co-founder.

Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef met the Australian Assistant Minister of Industry for Manufacturing Timothy Ayres in Sydney.

Iran admitted for the first time that it has sent drones to Russia, but insisted they were supplied to its ally before the Russian invasion of Ukraine. "We supplied Russia with a limited number of drones months before the war in Ukraine," Foreign Minister Hossein Amir-Abdollahian said, quoted by the...

Dubai Electricity and Water Authority (DEWA) has successfully concluded its awareness campaign among customers about its innovative digital services on electricity and water efficiency, reducing wastage and leaks, and following a responsible and sustainable lifestyle.

It attracted total orders of nearly $1.7 billion.

No Iranian cryptocurrency platforms are currently under sanctions. But US-imposed restrictions prohibit a US entity or US national from selling goods and services to Iranian residents, businesses or institutions. The ban includes financial services. Binance was founded in 2017 by a Chinese-Canadian entrepreneur but following regulations on its activities in...

Propelled by sectors like telecommunications and utilities, the UAE stock exchanges posted gains this week, even as the Saudi equities took a tumble, pulled down by investment and finance.

A week after he took the reins of the company, Elon Musk has sacked half of Twitter's 7,500-strong staff in a major overhaul of the troubled company. An internal document said "roughly 50 percent" of employees were impacted and would be denied access to company computers and email on an...

Scuttling an "international trafficking attempt" to West Africa, Morocco has made a large seizure of more than two million amphetamine-type captagon pills on the kingdom's northern coast. The drugs were hidden inside a goods container onboard a maritime transport ship headed from Lebanon to West Africa.

Members of the UAE-EU Parliamentary Friendship Group of the Federal National Council (FNC), headed by Sarah Mohammed Falkinaz, Chairperson of the Group, met with Alexander Radwan, Member of the German Bundestag.

The upcoming COP27 climate summit in Egypt must mark a leap from the process of hammering out a treaty to ensuring that its goals are met, the UN's climate chief said. "This COP needs to demonstrate that there is a distinct shift from negotiations to implementation," UN Climate Change Executive...

Doha--The Qatar Central Bank (QCB) has issued Treasury Bills and Sukuk for periods of one week, one month, three, six and nine months worth QR 6 billion ($1.6 billion), and the auction attracted a record amount of bids totaling QR 9.75 billion. In a statement, QCB stated that the treasury...

World food prices held steady in October, though cereal prices rose over uncertainty of a deal giving safe passage for Ukrainian grains on the Black Sea, a UN agency said. Global food prices have been falling since hitting an all-time high in March in the wake of Russia's invasion of...

HELSINKI, FINLAND - Heading a high-level delegation to Finland, Saudi Arabia's Minister of Commerce and Chairman of the Board of Directors of the General Authority for Foreign Trade Dr. Majid bin Abdullah Al-Qasabi stressed on the need to strengthen and diversify the bilateral trade between the two countries. Al-Qasabi said...

Q3 revenue was up 11.6 percent at US$10.11 billion.

The deal was signed with Indonesia's state-owned shipbuilder PT Pal.

Dubai, UAE---Dubai real estate market recorded transactions worth AED2.4 billion ($653 million) on Thursday, according to Dubai Land Department. A total of 842 sales transactions worth AED1.96 billion, in addition to 112 mortgage deals of AED487.55 million, and 17 gift deals amounting to AED30.97 billion were recorded during the day....

With a blast of "Break on Through" by The Doors and a flashy video of cartoon apes careening around a fantasy landscape, the boss of one of crypto's most secretive companies took to the stage on Thursday. Nicole Muniz, CEO of Yuga Labs, had a tough mission at the Web...

A company-wide email seen by AFP says Twitter employees will receive word via email at the start of business Friday, California time, as to what their fate is.It does not give a number but the Washington Post and New York Times reported that about half of Twitter's 7,500 employees will...

A short drive north, sparks from drills and grinders light up a Doha golf club, where workers are constructing a stage that will hold the many concerts planned for the 29-day tournament. As the night progresses, cranes are still moving and workers are finishing buildings in Lusail, close to the...

Adjusted EBITDA grew 64 percent to US$606 million.

Some of Germany’s leading industrial companies participated in a roundtable event hosted by the UAE Ministry of Industry and Advanced Technology at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) 2022.

Ceer will design, manufacture and sell a range of vehicles in Saudi Arabia and the MENA region, including sedans and sports utility vehicles. The company, which is a joint venture between PIF and Hon Hai Precision Industry (Foxconn), will license component technology from BMW for use in the vehicle development...

Europe must act immediately to prevent a shortage of natural gas next year as Russia slashes deliveries in the wake of the Ukraine war, the International Energy Agency warned. The IEA said the shortfall would occur if Russia stops pipelines deliveries completely and China steps up its imports of liquefied...

UAE and Indonesia have signed a Declaration of Intent to boost economic and social development between the two countries and exchange knowledge and data in the energy sector.

Bank announced a share buyback of US$1.4 billion.

Profit was due to high demand for pricier luxury models.

The Group will look to integrate GFS into its Maritime Cluster.

Fastening weapons or drugs to livestock to cross borders is an age-old smuggling trick. Latin American cartels took this a step further by stitching bags of cocaine and heroin into dogs and other animals. In November 2021 Kuwaiti authorities found 17 kilos of captagon pills inside live imported sheep.

Moscow had said on Saturday that it was temporarily pulling out of the grain deal, accusing Ukraine of using a safe shipping corridor established under the agreement to launch a drone assault on its Black Sea fleet.

Its profit declined to $69.6m in the first nine months of 2022.

The meeting discussed news exchange, news agencies, radio, Television, media regulation and international media relations.

Riyadh, Saudi Arabia— ACWA Power Company of Saudi Arabia has signed an agreement with Egypt to build a 10 gigawatts project to produce electricity from wind energy in the north African country. According to the Saudi Ministry of Energy, the agreement has been reached with Egypt’s New & Renewable Energy...

As progress is made on the project, which is estimated to take several years, Google plans to integrate its advances into its products, including YouTube and Google Translate.

The beer will not offend religious sensibilities in UAE as it is aimed at foreigners and also because it produces a variant that doesn't contain alcohol, says owner Nadim Khoury. 

The interior ministry of Qatar said officers launched an operation "acting on a piece of information about a website that promotes the sale of cups that mimic the true shape of the World Cup."

Abu Dhabi, UAE---Abu Dhabi National Oil Company (ADNOC) and Siemens Energy AG today announced plans to pilot blockchain technology to certify the carbon intensity of a range of products. In a statement, ADNOC said that by using smart sensor data gathered from across ADNOC’s operational chain – from the oil...

The company will list on ADX and Saudi Tadawul by Dec. 6.

The award is aimed at upping lower-carbon-intensive production capacity.

Almaty, Kazakhstan—Kazakhstan's anti-corruption agency said Wednesday it had seized jewels worth more than $230 million, in a case involving the nephew of ex-leader Nursultan Nazarbayev. "As a result of operational-search activities, exclusive gems and precious stones worth 230 million US dollars" were seized, the agency said in a statement. The agency...