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Iran looks warily to China for help as US sanctions resume - Dotemirates
6 day 18 hour

Iran looks warily to China for help as US sanctions resume

TEHRAN: It’s hard not to see China wherever you look in Iran.From Chinese goods flooding markets to its business people eager for deals as Western business interests flee, Iran likely will further embrace Beijing as an alternative market for its crude oil and financial transactions amid uncertainty over the nuclear deal.That doesn’t mean China offers a safe haven to Iran without conditions. Beijing will try to extract the maximum benefit, analysts said, and there is growing concern that China may take advantage of Iran.Iran “has had to rely on China to offset the Western-induced isolation, predominantly championed by the United...


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Business News

6 minute 2 second

Amazon, Samara Capital buy Aditya Birla Group's retail chain More: report

New Delhi: Amazon and Samara Capital have signed a deal to acquire the Aditya Birla Group's food and grocery retail chain 'More' for around Rs 4,200 crore, The Economic Times report said. The deal was inked at the Aditya Birla Groups headquarters in Mumbai, the news daily reported. Samara Capital acquired 51 per cent stake in Aditya Birla Retail Ltd (ABRL) while the Amazon will acquire the remaining 49 per cent stake. The acquisition is through an existing facility management back-end company. According to reports, if the deal goes through, it would be Amazon’s second direct investment in India’s retail...
33 minute 11 second

Qatar Airways announces $69 million revenue loss this year

DUBAI: Qatar Airways says it suffered a $69 million loss this year off revenue of $11.5 billion amid a boycott of Doha by four Arab nations.The carrier made the announcement in a statement Tuesday, over a year after the boycott saw Qatar Airways locked out the airspace of Bahrain, Egypt, Saudi Arabia and the United Arab Emirates.Qatar Airways also adjusted its profit in 2017 to $766 million off revenue of $10.7 billion.The airline's chief executive, Akbar al-Baker, said: "This turbulent year has inevitably had an impact on our financial results, which reflect the negative effect the illegal blockade has had...
35 minute 21 second

TheSocialMedwork reveals Aimovig is the most sought after drug in the Middle East

Dubai - MENA Herald: TheSocialMedwork has revealed Aimovig, the transformative migraine drug, is the most sought after medicine on their site from patients in the Middle East, with 657 people seeking information about this medicine in just 30 days from July 5th to August 5th. This is followed by Ocrevus (used to treat multiple sclerosis - 569 people), Spinraza (used to treat spinal muscular atrophy - 525 people), Venclexta (a medication used for the treatment of chronic lymphocytic leukemia - 273 people) and Radicut (used to treat amyotrophic lateral sclerosis, also known as motor neurone disease - 190 people). TheSocialMedwork...

37 minute 7 second

Saeed Mohammed Al Tayer reviews progress on 700MW 4th phase of Mohammed bin Rashid Al Maktoum Solar Park

Dubai - MENA Herald: HE Saeed Mohammed Al Tayer, MD & CEO of Dubai Electricity and Water Authority (DEWA) visited the Mohammed bin Rashid Al Maktoum Solar Park to review the progress on its 700-megawatt (MW) fourth phase, the largest investment in a Concentrated Solar Power (CSP) project in the world. The solar park is one of the most important projects supporting the Dubai Clean Energy Strategy 2050 with a total capacity of 5,000 MW by 2030 and investments worth AED 50 billion. Through its projects, the park will contribute to accelerating Dubai’s shift towards solar energy. During the visit,...
37 minute 7 second

House prices rise fastest in North West

House prices in the North West rose the fastest in the UK compared with a year ago, according to official figures.Annual growth in property values in the region stood at 5.6% by July, the Office for National Statistics (ONS) said.The biggest fall was in London, where prices dropped by 0.7% year-on-year.However, the capital had the highest average house price of £484,926 - almost four times higher than the North East.The typical property price of £131,505 in the North East of England was up by 2.8% in the last year. The South West and West Midlands regions both experienced price hikes...
41 minute 3 second

United Nations Honours Mohammed bin Rashid Al Maktoum Knowledge Foundation as ‘Knowledge Partner’

Dubai - MENA Herald: The United Nations Development Program (UNDP) has honoured the Mohammed bin Rashid Al Maktoum Knowledge Foundation (MBRF) as a “Knowledge Partner” on the sidelines of the General Assembly’s meeting in New York City. The UNDP sought to honour the Foundation to mark 10 years of close partnership, which resulted in several leading projects in the Arab region and the world. The ceremony was attended by MBRF’s CEO His Excellency Jamal bin Huwaireb, on behalf of His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, the Foundation’s Chairman, in addition to H.E. Achim Steiner, UNDP Administrator;...