Shares of the Dubai Electricity and Water Authority increase around 16 percent on Tuesday in the Gulf region’s largest first public offering since Saudi oil giant Aramco in 2019. DEWA shares rise 19 percent in the first minutes of trading before closing up 15.72 percent at 2.87 dirhams ($0.78), as the Dubai stock exchange has fallen 0.5 … Read more
Silverfort, the supplier of the globe’s first Unified Identity Threat Protection platform, has shut $65m in Series C funding led by Greenfield Partners, besides several VCs and strategic investors, including GM Ventures, Acrew Capital, Vintage Investment Partners and existing investors StageOne Ventures, Singtel Innov8, Citi Ventures, Aspect Ventures and Maor Investments. The new investment, which … Read more
The Russian war on Ukraine has departed a chain reaction in the world economy with increases in energy and food rates that will make worse poverty and hunger and increase debt concerns, World Bank President David Malpass said Tuesday. Faced with these “overlapping crises,” the leader of the development lender urged advanced nations to keep markets … Read more
Nokia will tug out of the Russian market, meaning firing some 2,000 staff the Finnish telecoms suppliers have in the country, the company said Tuesday. The report comes a day after competitor Ericsson decided to suspend its task in the country indefinitely. Hundreds of major Western companies have declared the suspension of their tasks or … Read more
Japanese biggest Sony and Lego’s Danish parent firm declared Monday a $2 billion investment in US gaming powerhouse amazing Games for its work toward joining the metaverse vision for the internet’s future. Scores of tech firms have been rushing to invest in creating the metaverse, a loose term covering the fattening eco-system of interactive online … Read more
Black Hat, the creator of the cyber security industry’s most established and well security events, declared Samir Saran, President of the Observer Research Foundation, and George Do, Chief Information Security Officer at Gojek and GoTo Financial, as Keynote speakers for Black Hat Asia 2022 cross event. Registration is open for the hybrid event offering a … Read more
India’s biggest software exporter Tata Consultancy Services stated strong one-fourth earnings on Monday as demand for digital services brought in worth a record $11.3 billion. Net profit at the IT giant rise to 99.26 billion rupees ($1.3 billion) in the three months ending March 31, which was 7.4 percent larger than the same period last … Read more
Italian Prime Minister Mario Draghi reached gas powerhouse Algeria on Monday as Rome steps forward in efforts to decrease its heavy reliance on Russian energy imports. Italy purchases a vast majority of its natural gas from overseas, with about 40 per cent of those imports reaching from Russia. But the war in Ukraine has provoked … Read more
China on Monday accepted its first batch of latest video game licenses in nine months, ending a lengthy freeze that gives jitters through the world’s biggest gaming market. Beijing moved against its vibrant gaming sector last year as part of a sprawling end on tech giants, capping the number of time children could spend playing … Read more
Tokyo stocks opened lower Monday as care lingered over-tightening financial policy by the United States and investors awaited income statements by discounter due this week. The benchmark Nikkei 225 index was fallen down 0.49 percent, or 133.40 points, at 26,852.40 in early trade, while the broader Topix index slipped 0.21 percent, or 3.95 points, to … Read more
Asian stocks posted losses on Monday as anxiety remains over-tightening cash policy by the Fed and increasing rates in China. The drop followed a negative lead from Wall Street. The S&P 500 and the Nasdaq returned as the yield on the 10-year US Treasury record climbed above 2.7 percent — signal markets are preparing for … Read more
Sri Lanka’s Prime Minister Mahinda Rajapaksa begged for “patience” Monday as many of the citizens continued to take to the streets to protest against his family’s rule, with public anger at a fever pitch over the country’s ruin wealth disaster. Sri Lanka’s 22 million residents have seen weeks of power collapse and severely lacking food, … Read more
Major Wall Street guides opened lower on Monday, with tech shares hit particularly hard as investors waited for the March report on US expansion amid expectations for offensive Federal Reserve action. Twitter bucked the trend as its stock rates rise after controversial Tesla chief Elon Musk announced he would not connect with the Twitter board … Read more
Oil rates may have met their match — for now, at least. Crude futures are tumbling yet again, sinking around 3%. After nearing $140 a barrel at the beginning of March and topping $120 as for last two weeks ago, Brent futures have loosened in nearly a straight line and now sit just a hair above … Read more
New York Tesla CEO Elon Musk, who previously became Twitter’s biggest individual shareholder, has decided not to involve in the social media company’s board. Twitter CEO Parag Agrawal tweeted the news on Sunday night. “Elon’s appointment to the board was to become officially effective 4/9, but Elon shared that same morning that he will no longer … Read more
Moscow will begin legal proceedings if it is declared in non-remittance by the West, finance minister Anton Siluanov said on Monday, after Russia was declared in “selective” non-remittance over the weekend. Russia the previous week paid its foreign dollar dues in rubles after it was not able to process the payment in international currency due … Read more
BEIJING — Chinese electric car company Nio said over the weekend it’s increasing in rates and dangling production as the last Covid wave added to supply chain challenges. The company’s Hong Kong-listed shares fall around 9% on Monday morning dealing. Nio announced on Sunday the prices would go high for its three SUVs — the ES8, ES6, and EC6 — by … Read more
As the Russian taking over of Ukraine continues with no end in vision, how are Americans’ European evacuation plans being affected? It depends on whom you ask, but overall the answer seems to be somewhere between “not at all” and “slightly.” Travel app Hopper distinguished a drop in flight looking for the Continent as early … Read more
