Bloomberg Remember last earnings season? When companies were reporting their worst quarter since the financial crisis. And nobody dared guess what the future held. Bankruptcy risk was everywhere. Oh, and stocks rallied so hard that $5 trillion got added to share prices. It’s safe to say investors were in a forgiving mood back then. With stocks up 25% since, the ...

Bloomberg Saudi Arabia led gains in the Gulf as the earnings season started in the kingdom with a positive tone. Saudi Arabia’s Tadawul All Share Index advanced as much as 0.7%. Food producer Almarai Co. JSC, the first Saudi company to deliver second-quarter numbers, gained as much as 2% after posting a 11% increase in profit. As more company results ...

Bloomberg Software provider Kinaxis Inc. surged to a record high as it completed a deal for Rubikloud Technologies to boost its capabilities in artificial intelligence (AI). Ottawa-based Kinaxis, whose clients include Unilever NV and Lockheed Martin Corp., briefly passed $4 billion in market value for the first time amid a broad rally in Canadian technology stocks. The company sells products ...

Dubai / WAM His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, announced the launch of the ‘Arab Space Talents’ programme that aims to build Arab expertise in space science and technologies. Overseen by the UAE Space Agency, the programme will equip young Arab researchers, scientists, inventors and creative ...

Bloomberg Oil slipped, paring a weekly gain, as concern of demand erosion from a coronavirus resurgence countered strong US economic data. Futures fell to about $40 a barrel in New York as the virus continues to spread unabated across large parts of the US, clouding the outlook for energy demand. Crude prices gained 4.2% for the week as data showed ...

Dubai / WAM The Department of Economic Development (DED) Trader licence launched by the Business Registration and Licensing, (BRL) sector, enabling start-ups in Dubai to conduct business activities online and across social networking accounts, has seen an 83 percent increase in licences issued from January to end of June. Compared to the same period last year when the total number ...

Bloomberg India’s latest e-commerce policy draft includes steps that could help local startups and impose government oversight on how companies handle data. The government has been working on the policy for at least two years amid calls to reduce dominance of global tech giants like Amazon.com Inc., Alphabet Inc.’s Google and Facebook Inc. Under rules laid out in a 15-page ...

Abu Dhabi / WAM The Ministry of Health and Prevention (MoHAP) announced that it has conducted more than 71,000 additional Covid-19 tests. In a statement, the ministry outlined its plans to continue expanding the scope of testing nationwide to aid in the early detection of Covid-19 cases and to help medical professionals carry out necessary treatment. As part of the ...

Dubai / WAM The Dubai Islamic Economy Development Centre (DIEDC) in collaboration with the Dubai Chamber of Commerce and Industry, and in strategic partnership with Refinitiv, on Saturday announced the second session of the GIES Virtual Series webinar that will provide an outlook on the future of the halal industry, amid the supply chain disruptions caused by the measures taken ...

Abu Dhabi / WAM The United Arab Emirates, represented by the National Emergency, Crisis and Disasters Management Authority, the Ministry of Foreign Affairs and International Cooperation and the Federal Authority for Identity and Citizenship, has announced that all citizens and residents in the UAE are now able travel in accordance with the health preventive and precautionary requirements enforced within the ...