According to official state media of Vietnam, Apple supplier Foxconn has agreed to spend $300 million with Vietnamese developer Kinh Bac City to expand its facilities in the north of the country in order to diversify and increase production. The action comes in response to a story this week claiming that Foxconn has begun producing […]
Two of the biggest commercial aircraft types now in operation, the Airbus A380 and Boeing 777, will have their whole interior cabins upgraded as part of Emirates’ ongoing efforts. In order to ensure that Emirates’ customers “fly better” in the upcoming years, this enormous project, which represents a multi-billion-dollar investment, will formally begin in November […]
The Australian government announced on Friday that, in an effort to catch up with other developed economies, it would enact new restrictions aimed at reducing carbon emissions from vehicles. According to Climate Change and Energy Minister Chris Bowen, only 2% of cars sold in Australia are electric, compared to 15% in Britain and 17% in […]
Norway’s sovereign wealth fund, the world’s largest, lost 1.68 trillion Norwegian kroner ($174 billion) in the first half of 2022, as stock markets, in general, experienced a turbulent six months. The fund’s return on investment was a negative 14.4% from January to June, but it was still 1.14 percentage points higher than the return on […]
To improve their client experience, Emirates NBD has started a global accelerator programme for metaverse entrepreneurs. In accordance with the Dubai Metaverse Strategy, the accelerator programme places the bank in a leadership position for the upcoming wave of banking innovation. The biggest lender in Dubai, Emirates NBD, has never before shown interest in the metaverse, […]
Microsoft’s Founder and philanthropist Bill Gates urged South Korea to do more to avoid infectious illnesses like COVID-19, emphasising the need for the world to be better prepared for the next pandemic. In a speech to South Korean parliamentarians in Seoul, Gates advocated for greater international collaboration, including attempts to create vaccines effective against a […]
According to a new filing, Saudi Arabia’s sovereign wealth fund has invested hundreds of millions of dollars in multiple US enterprises, around $7.5 Billion. With such investments, the Gulf kingdom continues to seek economic diversification vigorously. At the conclusion of the second quarter, the market value of the sovereign fund’s investment portfolio was $40.8 billion. […]
On Sunday, Saudi oil company Aramco reported a staggering 90% increase in second-quarter net profits and record half-year earnings, as high oil prices continue to generate historic windfalls for “Big Oil.” Strong market circumstances aided Aramco’s second-quarter net profits of $48.4 billion, up from $25.5 billion the previous year. The outcome was greatly above experts’ […]
On Sunday, a US congressional delegation led by Rep. Ed Markey landed in Taiwan, less than two weeks after China held a series of military drills in retaliation for House Speaker Nancy Pelosi’s visit to the island. During their two-day tour to the island, the five MPs are slated to see President Tsai Ing-wen, amid […]
AD Ports Group, one of the region’s leading logistics, industry, and trade facilitators, announced that revenue for the second quarter increased 35% year on year to AED1.24 billion ($337.5 million), with revenue increasing 25% year on year in H1 2022, achieving record results for H1 growth primarily driven by the Maritime and Economic Cities & […]
The British economy shrank in the second quarter of 2022 as the country’s cost-of-living issue took hold. Official numbers released on Friday revealed that GDP fell by 0.1% quarter on quarter in the second three months of the year, less than the 0.3% drop predicted by economists. It follows a 0.8% increase in GDP in […]
Emaar Properties has announced an agreement with Dubai Holdings to fully buy Dubai Creek Harbour, a new development located along the historic Dubai Creek shoreline, for AED7.5 billion ($2.04 billion) in cash and Emaar shares. As a result, Dubai Holding will become Emaar’s second-largest stakeholder. The transaction is scheduled to conclude on September 27. Overlooking […]
As part of its Guarantee Scheme, the Mohammed Bin Rashid Innovation Fund (MBRIF) has offered financing support to Bayzat, the UAE’s top employee benefits platform. MBRIF is a UAE Ministry of Finance (MOF) programme to foster national innovation. Bayzat, a digital startup that helps businesses to better respond to workers’ requirements and generate savings in […]
More than 45 start-ups worth at least $1 billion are predicted to emerge from the Middle East and North Africa by 2030, headed by Saudi Arabia. The Saudi technology venture capital fund said in a study released on Tuesday that the acceleration of the start-up ecosystem is being driven by a growing talent pool, technology […]
Samsung Electronics presented its latest high-end foldable cell phones on Wednesday, maintaining pricing the same as last year in an effort to maintain its leadership in a developing niche sector. The Galaxy Z Flip 4 and Galaxy Z Fold 4 are the latest foldable phones. Both phones, according to Samsung, are the company’s hardest foldable […]
