Browsing: Business

Tesla’s share price collapsed erasing a large chunk of the wealth of the world’s richest man Elon Musk. Musk’s net worth has dropped to $218 billion as Tesla’s shares are down 6.8%, according to Forbes. Musk’s wealth has been diminishing

The United States Treasury Department has imposed severe sanctions against Hezbollah, specifically targeting the group’s financial facilitator, Lebanese businessman Ahmad Jalal Reda Abdallah, and his companies. The Treasury Department’s Office of Foreign Assets Control has sanctioned eight of Abdallah’s companies

On Wednesday, the Dow Jones Industrial Average recorded its biggest plunge since 2020 after another prominent retail company warned of escalating prices, reinforcing investors’ apprehensions about future inflation, and triggering the catastrophic 2022 sell-off. The Dow lost 1,164.52 points, or

A United Nations report accuses Lebanon’s central bank and the banking sector of human rights violations as a result of their alleged role in one of the world’s worst economic and financial crises. A UN report criticizing Lebanon’s government singled

Before finalizing his agreement to buy Twitter, Elon Musk wants to know more details about the number of fake accounts on the social media platform. He said that he wants more details about how many Twitter accounts are fake or

Bitcoin fell below $27,000 for the first time in over 16 months on Thursday. This was amid concerns about rising inflation and the collapse of a controversial stablecoin project. According to Bitstamp data, Bitcoin sank as low as $26,595.52 Thursday

The UN Food and Agricultural Organization (FAO) reports that world food prices decreased at the end of April after reaching an all-time high in March amid the conflict in Ukraine. In April, the FAO Food Price Index was 158.2 points,

Jordanian Finance Minister Mohammad Al-Ississ discussed ways to enhance bilateral cooperation in the areas of finance, tax and customs with Saudi Finance Minister Mohammad Al-Jadaan. In the course of the meeting which was held at the sidelines of the Joint

A number of Yemeni governorates continue to receive hundreds of tonnes of Ramadan rations that have been provided by the Emirates Red Crescent (ERC). Approximately seven million people are benefitting from the Ramadan Ration and Iftar programmes in Shabwa, Hadramaut,

As part of the Annual General Assembly Meeting, ADNOC Distribution shareholders approved a consistent and fully maintained second and final dividend payment of AED1.285 billion (10.285 fils per share) for the year ended 31 December 2021. This dividend payment comes