Arab

Lebanon in power deal with Jordan

BEIRUT: Lebanon signed a deal on Wednesday to import electricity from Jordan through Syria after US assurances that the agreement was not in breach of sanctions against the Assad regime in Syria.The deal is expected to supply Lebanon with...

Who’s coming to Saudi Arabia’s LEAP conference

RIYADH: Organizers of the LEAP conference in Saudi Arabia will host more than 400 speakers across six conferences during the three-day event. Speakers will attend from a range of international and local organizations -- such as Visa, Ericsson, JP Morgan,...

Iconic London store Fortnum & Mason looking to expand into Qatar in time for World Cup

LONDON: One of London's most popular department stores is in talks to open a branch in Qatar ahead of this winter's FIFA World Cup, according to a Sky News report. Fortnum & Mason, an upmarket shop in Piccadilly that counts...

US car makers and medical suppliers warn chip shortage will last for more than six months

RIYADH: US businesses are worried that the global semiconductor supply shortage is set to last for at least six more months, according to report put together by the country's Department of Commerce. The White House was urged to push ahead...

Saudi, Iraq electrical connection to generate 1GW of power

RIYADH: Saudi Energy Minister Prince Abdulaziz bin Salman announced that the electrical connection between Saudi Arabia and Iraq will generate one gigawatt of power initially, according to the Iraqi News Agency. This comes after Iraq has signed a memorandum of...

Lebanon’s new electricity deal with Syria and Jordan is a long way from being switched on

Plagued by constant power shortages, Lebanon's new agreement with Jordan and Syria could be seen as a turning point for the energy-poor nation. Yet the deal -- which will see electricity flow from Syria -- will not provide an immediate...

Saudi Petrochem 2021 profits jump almost fivefold amid sector-wide boom

RIYADH: Saudi-listed National Petrochemical Co., better known as Petrochem, saw its profits surge almost fivefold in 2021. As the Kingdom's chemical sector grew, profits of the homegrown firm hit SR1.4 billion ($370 million), compared to SR230 million a year earlier. The...

Bitcoin and Ether trade higher; IMF urges El Salvador to abolish bitcoin as legal tender: Crypto Moves

RIYADH: Bitcoin, the leading cryptocurrency internationally, traded higher on Wednesday, rising by 4.55 percent to $37,968 at 3:08 p.m. Riyadh time. Ether, the second most traded cryptocurrency, was priced at $2,539, up by 5.19 percent, according to data from Coindesk. Other...

Nasdaq profit beats estimates on IPO rush, investment products demand

Nasdaq Inc. on Wednesday reported a nearly 16 percent jump in fourth-quarter profit that topped Wall Street estimates, buoyed by the frenetic pace of US initial public offerings and strong demand for its investment-related products. Technology, health care and financial...

SoftBank-backed Gopuff hires banks for IPO: sources

Gopuff, the SoftBank Group Corp.-backed delivery startup that was valued at about $15 billion last year, has tapped banks to lead preparations for a US initial public offering, people familiar with the matter said on Tuesday. US-based Gopuff, which...
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