Archive / Business - 2022
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Art sales hit all-time high in 2021Art auctions saw a record year in 2021 with $17.1 billion (15.6 billion euros) in sales as the market continued its rapid growth in Asia...Ukraine crisis: US warns China against helping RussiaUnnamed officials reportedly told multiple US news outlets that Russia asked China to provide military assistance after it began the invasion. The Chinese embassy in...US to ban Russian diamond and vodka importsThe US, European Union and other allies also plan to revoke Russia’s status as an equal trade partner, paving the way for further economic punishment....Asian shares extend losses as oil prices push higherShares fell in Asia on Tuesday after Wall Street logged its biggest drop in more than a year as markets were jolted by another surge...Elon Musk's cheaper EVs plan hits roadblock of Russia-Ukraine warSurging costs of raw materials made worse by Russia's military offensive in Ukraine could set back the dream of Tesla chief executive Elon Musk and...Oil prices soar to highest since 2008 as US considers banning Russian crudeOil prices soared above $130 a barrel in early trading on Monday, their highest since 2008, after the US said it is considering banning the...Honda, Sony joining forces on new electric vehicleTwo big names in Japanese electronics and autos are joining forces to produce an electric vehicle together. Sony Group Corp and Honda Motor Co agreed...Gujarat’s spinning units fear weakening of global yarn demandHaving been hit already by a spike in cotton prices, the spinning industry in Gujarat is fearing decline in the international as well as global...How to Choose the Right Amount and Types of LightingWhen decorating your home, one of the most important areas of focus should be the lighting. Inadequate light can make a room look dark and...Toyota to close Japanese factories after suspected cyber-attackToyota will shut down all 14 of its factories in Japan on Tuesday after a possible cyber-attack. News site Nikkei, which first reported the shutdown,...Why India's economy will be hit hard by the latest surge in oil pricesIndia is bracing for the economic fallout of Russia's military attacks in Ukraine, which pushed already bullish crude prices above $105 a barrel last week....The latest trends in home lighting designDesigners and lighting companies have been busy coming up with new ways to hold a lightbulb and project light, and winter is a great time...Ukraine crisis sparks surge in gas pricesMajor gas exporting nations said Tuesday they could not guarantee prices or supplies at a summit overshadowed by the worsening Ukraine crisis which has pushed...Blue Food Assessment provides sustainability recommendations to seafood industryThe growing field of research into blue foods – aquatic animals, plants, and algae from either marine or freshwater ecosystems – and their importance to...Visa, Amazon announce worldwide payment agreementVisa Inc and Amazon.com Inc announced an agreement Thursday that allows customers to use Visa cards on Amazon sites worldwide without additional fees.The companies also...Tesla's Musk condemned for Hitler tweet as he rips U.S. regulatorTesla Chief Executive Elon Musk has courted dual controversies, accusing a U.S. regulator of trying to stifle his speech while drawing condemnation for comparing Canada's...Oil prices drop on easing of Ukraine crisis but outlook remains bullishOil prices eased slightly early on Wednesday amid a de-escalation of geopolitical tension in eastern Europe but analysts said the decline is “short-lived”, with the...Pakistan’s textile exports catching up with neighboring apparel making countriesPakistan textile and apparel industry is expecting a staggering 40% growth in the current 2021-2022 FY. Recently, Abdul Razak Dawood, Commerce Adviser to the Prime...A UK company is designing business class seats for smaller long-range jetsA London-based design company has revealed details of its business class seats for narrow-body long-haul aircraft as the coronavirus pandemic drives demand towards the smaller,...UK house prices rise at slowest rate since JuneBritish house prices rose in January at their slowest pace since the summer of last year, gaining only 0.3 per cent on December in the...Bamboo, Eco-friendly fabric or environmental disaster?It’s no secret that something drastic needs to be done with the way we produce and consume clothes.According to the UN, garment production uses more...Mubadala-backed EGA plans to build first aluminium recycling plant in the UAEEmirates Global Aluminium, the UAE’s largest industrial conglomerate outside the country’s oil and gas sector, plans to build an aluminium recycling plant with a capacity...Home textile exports post robust growth by 48% in H1 of FY21While Bangladesh’s apparel exports witnessed a 3% during the July-December period of FY21, its foreign currency earnings from the home textile products posted a robust...Electric vehicle sales hit 6.6 million in 2021 as demand for eco-friendly options soarsGlobal sales of electric vehicles more than doubled to 6.6 million in 2021, as people opted for eco-friendly alternatives to traditional fuel guzzlers. The worldwide...Mena region set to outpace global economic growth in 2022The Middle East and North Africa is set to be the only region in the world to record a rise in economic growth this year,...Pandemic creates openings for would-be entrepreneursThe number of Americans looking to start their own business is on the rise, as the coronavirus pandemic creates opportunities for some would-be entrepreneurs.People are...Oil heads for seventh weekly gain amid tight supply and dwindling stocksOil prices are set for a seventh consecutive weekly gain, extending their advance on Friday amid dwindling stocks, geopolitical tension and a cold spell in...The one golden design rule you should never break when choosing curtainsI have a summer ritual: every day at about 3pm, I nip into the living room to shut the curtains on the best of the...Meta shares plummet 20% after posting rare profit declineFacebook rattled investors on Wednesday by posting a rare profit decline, driven by the company's heavy spending on its vision for a so-called metaverse while...Uber Eats delivery riders are doing 'quests' for more cash. But do they put more than money at risk?For many gig workers in the food delivery industry, these kinds of challenges are part of the job, with some companies offering bonus pay for...Abu Dhabi's Edge appoints Faisal Al Bannai as executive chairman of boardUAE defence conglomerate Edge appointed Faisal Al Bannai as executive chairman of the group's board of directors in a reorganisation of its leadership team as...Global gold demand rose 10% in 2021 on jewellery sales and central bank purchasesGlobal gold demand rose 10 per cent in 2021 to 4,021 tonnes, recouping much of the coronavirus-induced losses sustained in 2020.The growth was driven by...Dubai launches company to boost activities of market makers on DFMDubai is launching a company to organise and promote the activities of market maker companies in the Dubai Financial Market to help the bourse attract...Jordan looks to deepen trade ties with BritainJordan is seeking to deepen trade ties with the UK by strengthening the existing Association Agreement between the two countries to make it easier to...Dubai Duty Free expects $1.4bn in sales in 2022 as passenger traffic reboundsDubai Duty Free forecasts annual sales will increase 40 per cent to Dh5.1 billion ($1.4bn) in 2022 and it plans to recall more of its...Dewa opened 16 new substations worth $790m in 2021Dubai Electricity and Water Authority opened 16 new substations in 2021 as the state-owned company continues to invest in the emirate’s power infrastructure to meet...Airbus cancels Qatar Air order for 50 A321 aircraft as dispute escalatesAirbus has terminated a contract with Qatar Airways for an order of 50 A321 aircraft, as the French plane maker and one of its top...UK inflation rises to highest level in three decadesBritain's inflation rate surged to a three-decade high on Wednesday, rising to 5.4 per cent in December from a year ago – its highest reading...13 Canned Fish Brands Ranked Worst To BestTrends may come and go, but canned fish, or conserves, will forever be a classic. Though canned, or tinned, fish may be at the height...Lighting debuts feature more brass, natural materials, modern crystalNew brand launches included Schonbek Beyond, a new LED luxury lighting division from WAC Lighting brand Schonbek, which signals Schonbek’s first real push into LED....World's safest low-cost airlines 2022 revealedWe'd all like to travel first class with lie-down flat beds and a butler service while 30,000 feet in the air, but for most of...More than 60% of UAE employees plan to look for new job in next six months, survey findsAbout 65 per cent of employees in the UAE plan to look for a new job in the first six months of 2022 as businesses...Redefining the roles of apparel sector and policy makersThis year, at COP 26, the world saw a commendable turn from the giants of the apparel sector. Over 50 fashion and textile companies placed...Rothy’s, the recycled-plastic footwear brand, gets a deal valuing it at $1 billion.The Brazilian owner of Havaianas, the maker of flip flops, is taking a 49.9 percent stake in the shoe brand Rothy’s, valuing it at $1...Will New York's new mayor turn the city into a new cryptocurrency hub?With US cities such as Miami and Austin trying to court digital asset companies, John Wu was unsure whether to make New York the permanent...Green hydrogen to reshape global trade and disrupt bilateral energy relations, Irena saysThe rise in hydrogen as part of the global energy transition is set to reshape global trade and redefine bilateral energy relations as the emergence...Apple's iPhone 13 tops China's smartphone sales for six consecutive weeksApple was China's top smartphone brand in terms of sales units and revenue for six consecutive weeks to the end of 2021, with the iPhone...Asian stocks retreat as inflation augurs Fed rate hikesShares were mostly lower in Asia on Thursday after the latest report of surging prices in the U.S. appeared to keep the Federal Reserve on...Agrochemicals, is their farming treachery?Ever since the nation gained independence, Nigerians more than any people in the world, have been tortured and neglected in all fronts without regards. Is...Britney Spears Seemingly Reacts To JamieLynn’s Upcoming ‘GMA’ Interview WithCryptic PostBritney Spears appeared to react to her sister Jamie Lynn’s upcoming sit down interview, where her conservatorship and their current relationship were brought up.Britney Spears...