News

  • Xiaomi to launch electric car business with $10Bn investment

    31-03-2021

    Xiaomi Chinese smartphone giant has announced its plans to launch an electric vehicle business and invest $10 billion over the next 10 years. The company plans to set up a wholly-owned subsidiary with an initial investment…

  • Can now settle payments using cryptocurrencies: Visa

    30-03-2021

    The latest sign of growing acceptance of digital currencies by the mainstream financial industry can be seen in Visa allowing the use of the cryptocurrency USD Coin to settle transactions on its payment network. Visa has…

  • Murban starts trading at new ICE, Abu Dhabi oil exchange

    29-03-2021

    The Murban crude futures contract recently launched the key contract of the new ICE Futures Abu Dhabi (IFAD) oil exchange, offering a potential rival benchmark for trading Middle East crude. The contract was priced at…

  • Amazon gets FDA authorization for home testing for Covid

    28-03-2021

    The Food and Drug Administration has given authorization for a Covid-19 test that it hopes to use to bolster its employee screening program. The test is being developed by Amazon subsidiary STS Lab Holdco, according…

  • $1.2 billion valuation for Jeff Bezos backed start-up firm

    27-03-2021

    Pilot, accounting start-up firm, raised a new round of funding from Jeff Bezos and other Silicon Valley investors to help small businesses outsource back-office tasks. The San Francisco-based company closed a $100 million funding round…

  • You can buy a Tesla with bitcoin: Elon Musk

    26-03-2021

    Elon Musk, Tesla CEO, announced recently that it is now possible to buy Tesla vehicles in the U.S. with bitcoin. The automaker last month revealed that it had bought $1.5 billion worth of bitcoin and that it…

  • Farming business start up in UAE gets $60m funding

    25-03-2021

    Growing crops in the desert may sound intriguing, but one such tech strat up company has proven that it can, and that too successfully. Pure Harvest Smart Farms grows fruits and vegetables in greenhouses in…

  • Good news for investors. Two new chip plants for $20Bn: Intel

    24-03-2021

    Intel plans to spend $20 billion to build two new chip factories, called fabs, in Ocotillo, Arizona. Intel stock rose as much as 5 per cent after this news announcement. Investors are looking forward to the…

  • Canada and Kansas City strike $25Bn Deal

    23-03-2021

    Canadian Pacific Railway Ltd recently agreed to acquire Kansas City Southern in a $25 billion cash-and-stock deal to create the first railway spanning the United States, Mexico and Canada, standing to benefit from a pick-up…

  • Great news for UAE Visa Applicants

    22-03-2021

    The United Arab Emirates has approved a new remote work visa to facilitate employees from all over the world to live and work in the country for one year as well as a mltiple-entry tourist…

  • World economy to grow at 4.7 % in 2021:UN

    21-03-2021

    As per the report shared by the United Nations, the upwards revision from its previous forecast made last September factors in an expected boost in US consumer spending on the back of progress distributing COVID-19…

  • Google to spend $7 billion on data centers and offices

    20-03-2021

    There’s some good news with Google. The company says it plans to spend more than $7 billion on real estate across the United States in 2021 as it resumes spending in the wake of the…

  • Deutsche Bank displays remarkable performance

    18-03-2021

    Deutsche Bank Board member Fabrizio Campelli said on Thursday that the investment bank is off to a strong start in 2021, with revenue up about 20 per cent so far in the first quarter. He…