Turkey officially changes its name at UN to ‘Turkiye’

Turkey officially changes its name at UN to ‘Turkiye’

President Erdogan has been pressing for the name to be changed to ‘Türkiye’ (tur-key-yay) as it is spelled and pronounced in Turkish

Walmart ranks first on the top 25 global retailers survey

According to GlobalData’s ranking, half of the top 25 global retailers reported more than 8 per cent year-on-year growth in revenue despite the pandemic

Kindle

Amazon to shut Kindle store in China

The e-commerce giant will discontinue the Kindle eBook store on June 30, 2023

Plane crashes in Nepal with 22 aboard, all bodies recovered

Of those on board, 13 were citizens of Nepal, while four others were Indians and two were Germans

ADNOC

Abu Dhabi’s ADNOC, Masdar deepen partnership with BP

ADNOC, BP and Masdar also agreed to explore the production of sustainable aviation fuels in the UAE

Oil

Oil eases as investors focus on EU’s embargo impasse, gasoline

Oil markets remain in backwardation, a bullish pattern in which near-term prices trade above longer-dated ones

What are the biggest issues being discussed at Davos 2022?

Some issues to be discussed at Davos 2022 include the Ukraine crisis, the lingering threat of the pandemic, inflation and the shifting geopolitical influence.

Why tomorrow’s central bankers need to think like MBA students

The next generation of central bankers is taking a page from the business school play book

Etihad Rail MoUs

UAE’s Etihad Rail signs MoUs with international railway operators to exchange knowledge, expertise

The MoUs were signed to exchange knowledge, expertise, and best practices in freight and passenger rail services and operations

Oil eases at week’s open after top central banks warn on rates

Oil extends gains as investors weigh Russian ban, China outlook

Oil is up more than 40 per cent this year as economies rebound from the pandemic

Oil

Oil holds jump as US fuel stockpiles slide before driving season

Oil is up around 40 per cent this year following a strong economic rebound from the pandemic

Saudi Aramco

Saudi Aramco becomes world’s most valuable stock as Apple drops

Earlier this year, Apple boasted a market value of $3tn, about $1tn more than Aramco’s

Abu Dhabi

Abu Dhabi’s ADQ announces EUR4bn investment partnership with Greece

The agreement underscores growing economic ties between the two countries and will drive investor interest in Greece

Biomass. emissions

First African emissions reduction credit platform unveiled

The platform, to be known as CYNK, will use the Hedera Hashgraph public decentralised ledger to track emission reductions

Egypt carbon dioxide

Egypt to store carbon dioxide in cooperation with Italian Eni

The project will capture and store between 25,000 and 30,000 tonnes of carbon dioxide per year

Getty Images - Sophos acquisition

Sophos acquires UK-based Soc.Os to advance MTR, XDR capabilities

The deal expands Sophos’ adaptive cybersecurity ecosystem to include telemetry from third-party security and IT solutions

Emmanuel Macron

Macron beats Le Pen to win second term as French president

The 44-year-old Macron becomes the first incumbent to win a second term since Jacques Chirac two decades ago

Getty Images

Netflix loses 200,000 customers, its first decline in a decade

The streaming service platform also projects it will lose another two million customers in the current second quarter

The Food Lab, Egypt’s cloud kitchen operator, raises pre-seed round of $4.5m

Nuwa Capital, Shorooq Partners, and 4DX Ventures co-led the round, which comprised investors from all across the world

Dubai’s dnata inaugurates new cargo centre at London Heathrow airport

In 2021, dnata handled in excess of 500,000 tonnes of cargo in London

How DIFX is bridging the gap between traditional and digital assets

With a growing startup ecosystem and tech-driven individuals, the Middle East region is on the verge of becoming a global fintech leader, says Jeetu Kataria, co-founder and CEO at DIFX

Lebanon-Beirut

Lebanon strikes $3bn IMF deal in step to addressing crisis

The IMF loan will be disbursed over four years in return for the phased implementation of an economic recovery plan

Getty Images

Saudi Arabia, UAE to give $3bn to Yemen in new peace push

Saudi Arabia will also provide $1bn for the purchase of oil products and to support of development projects

Here’s how advancements in robotics are driving micro-mobility innovation

Micro-mobility is playing a significant role in decarbonising transportation across the world, says Amir Melad, GM-Middle East at Tier Mobility

Venture capital giant Sequoia Capital names new leader

Sequoia has backed many of the world’s leading companies, ranging from Apple to Airbnb to Zoom Video Communications

Huawei’s R&D investment soars to $22.4bn in 2021

The company’s total revenue in 2021 reached $99.9bn, and generated a net profit of $17.8bn

How 2021 was a record year for M&A

Regional and global M&A activity witnessed strong growth last year

Egypt’s EFG Hermes Holding reports EGP1.5bn in net profit in 2021

The group’s revenues crossed the EGP6 billion mark for the first time

UAE’s Mubadala and Canada’s Aris Gold announce partnership

The partnership involves the operation of the Soto Norte Gold Project in Colombia, one of the world’s largest feasibility-stage gold projects

Natural gas

Mubadala Petroleum starts gas production from Malaysia’s Pegaga field

Mubadala Petroleum, which has been present in Malaysia since 2010, is the operator of Block SK 320 and holds a 55 per cent interest in it