Articles
Adnoc and BP make an offer to acquire 50% of Israel's NewMed Energy
The companies intend to form a new joint venture that will focus on gas development
Twitter’s default 'For You' feed to only recommend verified accounts
Voting in polls on the platform will also be restricted to non-verified users, starting from mid-April, Elon Musk says
Adnoc to explore low-carbon ammonia opportunities with Germany
They will focus on the production and transportation of low-carbon ammonia and its application as a fuel in energy generation
First Citizens to acquire Silicon Valley Bank
The transaction includes the purchase of about $72 billion of SVB's assets at a discount of $16.5 billion
Accenture to cut 19,000 jobs amid profit forecasts
The consultancy said the layoffs will mainly affect employees in non-billable corporate functions
ADGM's assets under management up 56% in 2022
Total active licences grew 30% annually to 5,546, including permits for both financial services and non-financial companies
Ras Al Khaimah issues law to set up digital free zone
RAK Digital Assets Oasis will be affiliated with the emirate's newly created Department of the Future
AD Ports signs 30-year agreement to develop and operate Egypt's Safaga Port
Abu Dhabi ports operator also signed deals to develop two cement terminals and four preliminary pacts for ports in Egypt’s Red Sea region and the Mediterranean Sea
Amazon UAE site to showcase 100,000 companies, including local SMEs, by 2026
The initiative will grant Emirati companies a global platform and is line with Dubai's D33 strategy, Sheikh Hamdan says
Meta to lay off 10,000 employees in second round of job cuts
Facebook parent company will also close about 5,000 open roles that have yet to be filled, CEO says
PIF announces initiatives to boost private-sector growth
Sovereign wealth fund aims to increase the share of local content spend in its domestic portfolio to 60% by the end of 2025
Spanish FoodTech start-up Burger Index raises $1.3m to expand in GCC
The funding round was led by Cairo-based venture capital company Flat6Labs
Investcorp distributed $1.2bn to GCC investors over past 12 months
The company's investment realisations were across asset classes, including recent exits from its private equity platform in the US
Dubai property prices: Where they rose and fell in February 2023
A record 17,741 residential transactions were recorded in the first two months of the year, CBRE says
Network International posts 42% rise in net profit
The payments-processing company is expanding its presence in Saudi Arabia
