Major Gulf bourses end mixed, Abu Dhabi falls most

(Reuters) – Major stock markets in the Gulf ended mixed on Monday, with the Abu Dhabi index falling the most, as investors remained cautious about global economic recovery and the oil market.FILE PHOTO: An investor monitors a screen displaying stock information at the Abu Dhabi Securities Exchange June 25, 2014./File PhotoU.S. House Democrats are expected… Continue reading Major Gulf bourses end mixed, Abu Dhabi falls most

Egyptian transport start-up Swvl sees profit by 2024

(Corrects operating costs in paragraph 5 to $13 mln, not $136 mln)Slideshow ( 3 images )CAIRO (Reuters) -Transport start-up Swvl, based in Dubai and Cairo, expects to turn its first profit in 2024 as it expands into new countries, its chief financial officer Youssef Salem said on Thursday. Swvl last month announced a merger with… Continue reading Egyptian transport start-up Swvl sees profit by 2024

Kuwaitis await new crown prince as Arab leaders mourn late emir

KUWAIT (Reuters) – Arab leaders headed to Kuwait on Thursday to offer condolences for the death of its ruler Sheikh Sabah al-Ahmad, who worked to unify a polarised region, as Kuwaitis waited for the new emir to name a crown prince to help guide state affairs.Slideshow ( 3 images )Jordan’s king, the presidents of Egypt… Continue reading Kuwaitis await new crown prince as Arab leaders mourn late emir

Boeing to delay 777X as demand drops for big jets – sources

SEATTLE/PARIS (Reuters) – Boeing Co (BA.N) is preparing to delay its all-new 777X jet by several months or up to a year, three people familiar with the matter said, as the COVID-19 crisis exacerbates a drop in demand for the industry’s largest jetliners. Boeing hopes to bring the jet to market as passenger travel rebounds… Continue reading Boeing to delay 777X as demand drops for big jets – sources

Qatar FM says early talks with Saudi Arabia have broken stalemate

RIYADH/DOHA (Reuters) – Qatar’s foreign minister said recent talks have broken a protracted stalemate with Saudi Arabia and that Doha would studying demands by its Gulf rivals but not turn its back on ally Turkey. The 2-1/2-year row between U.S.-allied Arab states saw Saudi Arabia, the United Arab Emirates, Bahrain and Egypt cut diplomatic and… Continue reading Qatar FM says early talks with Saudi Arabia have broken stalemate

Oracle to hire 2,000 workers to expand cloud business to more countries

(Reuters) – Oracle Corp (ORCL.N) plans to hire nearly 2,000 additional workers as part of an aggressive plan to roll out its cloud computing services to more locations around the world, its cloud chief told Reuters on Monday. Seeking to better compete with bigger rivals Amazon Web Services (AMZN.O) and Microsoft Corp (MSFT.O), the move… Continue reading Oracle to hire 2,000 workers to expand cloud business to more countries