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Massoud A Derhally

Massoud A Derhally

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Articles

IBM's fourth quarter revenue remained flat at more than $16.6 billion. Reuters
IBM profit jumps 16% but company will cut 3,900 jobs

Net profit during the October-December period rose to more than $2.7bn

TechnologyJanuary 26, 2023
A trader counts US dollars at a currency exchange shop in Beirut. The Lebanese pound has tanked against the US dollar, rendering its peg to the greenback obsolete. EPA
Lebanon inflation rate at highest since 1987 at 171%

Country's Consumer Price Index hit an annual 122 per cent in December, according to official data

EconomyJanuary 24, 2023
Spotify Technology reported a net loss at the end of the third quarter of last year. Bloomberg
Spotify adds to Big Tech job cuts as it cuts workforce by 6%

Music streaming company's share price has fallen more than 49% over the past year

TechnologyJanuary 23, 2023
Sundar Pichai, chief executive of Alphabet. Bloomberg
Alphabet to lay off 12,000 employees, CEO Sundar Pichai says

Latest job cuts follow those at Microsoft and Amazon

TechnologyJanuary 20, 2023
Genesis Global Holdco and its lending units are involved in 'productive' discussions with its parent company DCG and creditors. Bloomberg
Cryptocurrency lender Genesis files for Chapter 11 bankruptcy

FTX collapse in late 2022 piled pressure on Genesis, forcing it to stop redemptions in November, with the company booking losses linked to its exposure to failed crypto hedge fund Three Arrows Capital

CryptocurrenciesJanuary 20, 2023
Per capita income growth in sub-Saharan Africa, a region that is home to 60 per cent of the world's poor, is set to average 1.2 per cent from 2023 to 2024. AP
World Bank warns global economy may slide into recession

By the end of 2024, the economic output of emerging and developing economies will be about 6% below pre-Covid levels while inflation is expected to moderate but remain high

EconomyJanuary 10, 2023
Abu Dhabi's FAB explored making an offer for Standard Chartered, an emerging markets-focused bank. Reuters
First Abu Dhabi explored offer for Standard Chartered

Abu Dhabi lender has a market value of more than $51bn and more than $313bn of assets at the end of the third quarter of 2022

BankingJanuary 06, 2023
Abu Dhabi strategic investment company Mubadala is branching out in the growing private credit market. Victor Besa / The National
Alpha Dhabi and Mubadala to invest up to $2.5bn in global credit market

Sovereign wealth fund will hold 80% ownership in the Abu Dhabi Global Market-based entity, with the remaining 20% held by Alpha Dhabi

BusinessJanuary 05, 2023
A building on the Amazon campus outside the company headquarters in Seattle. The company is cutting about 18,000 positions. AP
Amazon to cut more than 18,000 jobs, CEO Andy Jassy says

Share price of the world's largest online retailer is down about 48% over the past twelve months after plunging 51% in 2022, the most since 2000

TechnologyJanuary 05, 2023
Brent averaged $103.70 a barrel last year, gaining about 10 per cent annually, after jumping 50 per cent in 2021. Reuters
Oil declines 5% on China demand concerns and recession fears

Futures extend the declines of the previous trading session as recession risk grows

EnergyJanuary 04, 2023
An Apple store in Shanghai. China's Covid-19 restrictions affected the production of iPhones last year. AFP
Apple's market value falls below $2tn as economic slowdown concerns mount

The technology company's share price has dropped more than 30% over the past twelve months

MarketsJanuary 04, 2023
The Dubai skyline. The UAE economy is expected to have grown at its fastest pace in more than a decade in 2022. Chris Whiteoak / The National
UAE business activity remained 'robust' at end of 2022

Despite global uncertainty, output growth continued at a sharp pace in December on rising sales and customer numbers

EconomyJanuary 04, 2023
The Dubai Financial Services Authority ruled earlier that Arif Naqvi had knowingly misled and deceived investors. AP
Dubai tribunal upholds regulator's action against Abraaj founder

Decision renders as final the $135m fine imposed by the DFSA against the former executive

BusinessJanuary 03, 2023
Saudi Arabia plans to further develop its manufacturing industry as it seeks to diversify its economy away from oil revenue. Getty
Saudi non-oil employment rises at strongest pace since 2018

Sharp demand growth supports further expansion of activity in the kingdom's non-oil businesses

EconomyJanuary 03, 2023
IMF chief Kristalina Georgieva repeated an earlier warning that a third of the global economy will be in recession this year. Reuters
Oil tumbles 4% on demand concerns as IMF warns of recession

Fund's managing director says the global economy faces 'a tough year, tougher than the year we leave behind'

EnergyJanuary 03, 2023
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