Business & Money | Saturday 22 June, 2024 6:07 am

DP World completes $400-million Callao Port expansion project

DP World has completed a major US$400 million expansion project at the Port of Callao in Peru, boosting container handling capacity at the South Terminal by 80 percent and solidifying Callao’s position as the key gateway for global trade on the west coast of South America. The Bicentennial...

More Details

Business & Money | Saturday 22 June, 2024 6:06 am

Dubai Chamber of Commerce launches Mexican Business Council to boost bilateral trade, investment

Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has announced the establishment of the Mexican Business Council to boost bilateral trade and investment opportunities and strengthen the ties between the business communities in Dubai and...

More Details

Business & Money | Saturday 22 June, 2024 6:00 am

UAE reaping fruits of visionary leadership's forward-looking approach: Al Zeyoudi

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, said that the UAE continues to reap the rewards of its visionary leadership's forward-looking approach through increased global trade and investment openness. “This is reflected in the record growth in foreign direct...

More Details

Business & Money | Saturday 22 June, 2024 5:54 am

Microsoft back as world's most valuable public company

Microsoft regained the title of the "world's most valuable public company" after Nvidia stock fell sharply on Thursday.   Computer chip maker Nvidia slipped 3.5% to $130.78, leaving the company valued at $3.2 trillion.   Meanwhile, Microsoft fell 0.15% to $445.70, but...

More Details

Business & Money | Saturday 22 June, 2024 5:02 am

Details of amendments to Finance Companies Control Law

The Saudi Cabinet, chaired by King Salman, recently approved amendments to Finance Companies Control Law.  The official gazette Umm Al-Qura published on Friday details of the amendments, which include the necessity of obtaining the bank's approval on practicing any non-finance activities, ...

More Details

Business & Money | Friday 21 June, 2024 6:20 am

European Commission green lights PIF’s acquisition of German autonomous car manufacturer

The European Commission announced its approval of the acquisition and joint control of the German autonomous electric vehicle company Holon by the Public Investment Fund (PIF) and Austrian company Benteler.   The Commission said in a statement that, under European Union merger law,...

More Details

Business & Money | Friday 21 June, 2024 6:13 am

UBS CEO warns Switzerland may lose world’s wealth hub status

UBS CEO Sergio Ermotti warned that Switzerland could lose its position as the world's wealth management center if policymakers overreact to the collapse of Credit Suisse. Ermotti, who was chosen once again as head of Switzerland's largest bank a few days after his former rival was rescued last ...

More Details

Business & Money | Friday 21 June, 2024 6:12 am

Al Mashaaer Train serves 2.2M passengers during Hajj season: SAR

Saudi Arabia Railways (SAR) announced the success of the operational plan for Al Mashaaer Al Mugaddassah Train in the Hajj season of 1445 AH, completing the transport of more than 2.2 million passengers between Arafat, Muzdalifah and Mina stations by facilitating 2,206 trips. The train...

More Details

Business & Money | Friday 21 June, 2024 5:57 am

UAE Ministry of Finance Launches New Transformational Projects

The UAE Ministry of Finance today announced the implementation of transformational projects that support the country’s efforts to transition towards the future and enhance its competitiveness, in line with the ‘We the UAE 2031’ vision and the UAE’s efforts to become the global hub for the...

More Details

Business & Money | Friday 21 June, 2024 5:54 am

RAKEZ continues to fuel its SME community with insightful sessions on success strategies

Ras Al Khaimah Economic Zone (RAKEZ) has hosted the second session in its Growth Series 2024 edition, focusing on empowering entrepreneurs to kickstart their businesses with speed and efficiency. The event, titled ‘How to Start Up Fast and Succeed’, attracted a diverse group of budding...

More Details