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Business
Large round of layoffs is underway at Goldman Sachs
This week, Goldman Sachs will embark on one of its largest rounds of layoffs since the financial crisis. As part of a restructuring plan, the bank started layoffs on Tuesday that will…
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Masdar signs 1GW clean energy deal in Kyrgyzstan
Masdar has signed an agreement with the Kyrgyz Ministry of Energy to develop a pipeline of renewable energy projects in the country. The projects, with a total capacity of up to 1…
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$1 billion to be invested in GCC real estate by Investcorp in five years
Bahrain-based Investcorp, which counts Mubadala Investment Company as its biggest shareholder, announced today that it will invest $1 billion in the GCC real estate market. It follows…
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$3.3 billion in engineering exports from Egypt in 11 months of 2022
The Engineering Export Council (EEC) of Egypt announced that the sector's exports were up by 10% to $3.32 billion from January through November of 2022, compared with $3 billion in the…
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Exports of Indian gems and jewellery increased by 8.26 percent
The UAE-India Comprehensive Economic Partnership Agreement (CEPA) contributed to an increase in Indian gem and jewellery exports of 8.26 percent in the current financial year, according…
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Gold holds steady as investors focus on U.S. jobs data
As the dollar strengthened ahead of a closely watched U.S. jobs report that could provide more insight into the Federal Reserve's interest rate-hike plans, gold prices advanced on…
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Abu Dhabi Islamic Bank increases ownership in ADIB Egypt to over 52 percent
As part of its expansion strategy, Abu Dhabi Islamic Bank (ADIB) has announced that it will have a greater than 52% ownership stake in ADIB Egypt. As disclosed to the Abu Dhabi…
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ADNOC pledges $15 billion for clean energy, new energies and decarbonization
ADNOC, a reliable and responsible provider of energy with low carbon intensity, announced today a bold new strategy to decarbonize its operations globally. In November 2022, ADNOC's…
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Trading week begins with stock futures falling
Markets fell Monday evening ahead of the latest Federal Reserve meeting minutes and a flurry of economic data. Dow Jones Industrial Average futures fell 72 points, or 0.2%. Nasdaq 100…
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Dnata cargo warehouse in Erbil, Iraq will cost $14 million
Dnata, a global air and travel services provider, has broken ground on its new 20,000 m2 cargo warehouse, which will expand its operations at Erbil International Airport (EBL). Up to 50…
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