Browsing: Business

Through its new dedicated development finance arm, EIB Global, the European Investment Bank (EIB) will contribute $27 million to the Middle East Venture Fund IV (MEVF IV). Middle East Venture Partners (MEVP) has launched a new venture capital fund that

By 2023, Adidas could lose 1.2 billion euros ($1.3 billion) in revenue if it cannot sell its existing Yeezy stock. Adidas shares fell 11% around 9 a.m. London time following the news. “The numbers speak for themselves. We are currently

JPMorgan Chase & Co.’s CEO Jamie Dimon cautioned against declaring victory too soon against inflation, warning the Federal Reserve might raise interest rates above 5% if prices remain “sticky.” Several Federal Reserve officials said more rate increases were on the

Since taking over Twitter, the world’s second-richest person Elon Musk has struggled to sell subscriptions. Musk took over Twitter in October, but subscriptions have been slow. He promised to revamp the company’s subscription revenue strategy. In 2021, Twitter Blue was

Bloomberg News reported on Monday that Dell Technologies would eliminate about 6,650 jobs, or about 5% of its global workforce. This is as a result of the falling demand for personal computers. The company is experiencing market conditions that “continue

According to central bank governor Riad Salameh, Lebanon will adopt a new official exchange rate of 15,000 pounds per U.S. dollar on Feb. 1. This represents a 90% reduction from the current official rate which has remained unchanged for 25

Etihad Cargo, Etihad Aviation Group’s cargo and logistics arm, exceeded its operational performance targets in 2022. In freighter departures, the carrier achieved 80.5 percent on-time performance (OTP) and in freighter arrivals, it reached 84.1 percent. Over its target of 85

Indian Finance Minister Nirmala Sitharaman presented a $550 billion progressive and inclusive Union Budget for 2023-24 today. According to her, Indian economics are heading in the right direction despite challenging times globally. Economic growth in the current year is estimated

There was a 13.6% yearly increase in two-way trade between Vietnam and India in 2022, according to statistics from the General Department of Customs, which were quoted by the Vietnam News Agency (VNA). The value of Vietnam’s exports to India

In order to restore its profitability and improve the safety of its products, the Dutch health technology company Philips will cut another 6,000 jobs globally. This is following a recall of respiratory devices that knocked off 70% of its market