Covid-19 impact on the power sector – what does the future hold?

In the wake of the pandemic, public and private power companies in the MENA region need to adjust their strategies

Women’s wealth in Middle East to rise 9% by 2023 – report

Women’s wealth in the UAE and Saudi Arabia amounts to $103bn and $224bn respectively

Google Stadia Pro

Google to launch six free games on its Stadia platform in June

The cloud gaming service is attempting to attract a wider subscriber base by way of these free games

George Floyd New York City

UAE consulate in New York issues advisory regarding George Floyd protests

Protests have erupted across several cities in the US following the death of 46-year-old George Floyd in Minneapolis last week

Samsung Money

Samsung Money debit card readies for summer launch

Reward points can be exchanged for cash which will be deposited into the customer’s Samsung Money by SoFi account

Boeing restarts 737 Max factory in step to jet’s comeback

The manufacturer is rolling out more than a dozen initiatives aimed at improving safety and quality on its 737 assembly lines

nissan gt-r50

Nissan posts biggest loss in 20 years, unveils turnaround plan

A four-year plan calls for production to be cut by 20 per cent to about 5.4 million vehicles a year

Oil extends slide below $32 on signs US stockpiles swelled

Oil is still up almost 70 per cent this month as supply curbs trim a global glut and pockets of demand emerged after the easing of lockdown restrictions

Saudi Arabia among first destinations to adopt global safety stamp protocol

Eligible businesses such as hotels, restaurants, airlines, cruise lines, tour operators, restaurants, outdoor shopping, transportation and airports, will be able to use the stamp once the health and hygiene protocols have been implemented

Airline

Airline debt could grow to $550bn by year-end – IATA

In total, governments have committed to $123bn in financial aid to airlines

Honor

Honor to begin using MediaTek processors in upcoming devices

Honor phones earlier relied on Huawei Kirin processors

Three women in Saudi’s Jazan injured in missile attack

Shrapnel from the missile attack wounded the three women and damaged one house

Chinese tech giants may soon be expelled from the US stock market

A proposed new law will require companies listed on American stock exchanges to demonstrate that they are not owned or controlled by a foreign government

Russia sees oil market balance in June-July on OPEC+ cuts

Producers have lowered global oil supply by around 14-15 million barrels a day

In pics: Eid Al Fitr celebrations across the world

Across the world, governments have urged people to pray at home or follow strict social distancing measures due to Covid-19

Airline

What you need to know about how airline miles are changing

Introduced nearly 50 years ago, air miles are a way for the industry to make money

Twitter

Twitter tests new user interaction feature

The feature is currently being tested among a small group of Twitter users worldwide

Facebook Shops

Facebook, Instagram unveil ‘Shops’ platform to facilitate e-commerce

The new product will be introduced this summer in the US, and will be subsequently rolled out in other markets worldwide

Ghosn’s accused accomplices held as Japan seeks extradition

The arrests come a week before the expected announcement of a major restructuring plan at Nissan

Ubisoft Rainbow Six Siege

Game developer Ubisoft files lawsuit against Apple, Google

There have been over five million downloads of the game on the Google Play store alone

Tesla shares give up gains on renewed prospect of Musk buying Twitter

Tesla expected to soon reveal ‘million-mile-battery’

Tesla has collaborated with Chinese company Contemporary Amperex Technology for this battery

Huawei responds to severe new US sanctions

The new sanctions prevent any company that uses American machines or technologies from dealing with Huawei

Global downturn risks becoming prolonged recession – WEF

High unemployment, lack of progress in reducing carbon emissions and exacerbated inequalities are all possible side effects of the pandemic

IEA head sees oil use below pre-virus levels for at least a year

Crude demand of about 100 million barrels a day prior to the pandemic plummeted by about 30 per cent last month

Oil edges higher on recovery signs while Saudis flag deeper cuts

Saudi Arabia aims to pump just under 7.5 million barrels a day in June, compared with an official target of about 8.5 million a day

BRF’s Sadia commits to 1.4 million meals across the GCC amid Covid-19 concerns

The company has set up a Covid-19 Response Fund worth $1m and has collaborated with government entities and charitable associations to assist regional communities

Asia’s Richest Men Prep for Battle as Adani Enters Ambani’s Turf

Saudi wealth fund exploring an investment in Reliance Jio

Facebook last month agreed to pay $5.7bn for a 10 per cent stake in the digital unit

Oil anchored near $24 on lingering concerns about global glut

US crude stockpiles rose for a 15th week, although at a slower pace, while supplies at the Cushing storage hub expanded

GE’s regional head Nabil Habayeb takes on global role in the company

Habayeb has now been named as the senior vice president of GE, and the president and CEO of its Global Growth Organization

Facebook Journalism Project launches fund to support local newsrooms amid Covid-19

Facebook will work with the International Centre for Journalism (ICFJ) to offer grants, webinars and professional mentorship to support publishers