$11 trillion in investment needed for oil and gas industry

Abu Dhabi $11 trillion in investments will be needed for the oil and gas industry to keep up with rising global energy demands, said UAE Minister of State and Adnoc chief executive officer Dr Sultan Ahmad Al Jaber at the opening of the World Energy Congress in Abu Dhabi on Monday. Taking place at the […]

Crisis-hit Nissan CEO resigns

Yokohama, Japan: Nissan’s CEO will step down next week, the board said Monday, deepening the crisis at the Japanese car giant still reeling from the arrest and ouster of former chief Carlos Ghosn’s over alleged financial misconduct. It is yet another blow for the firm that has seen sales plunge and been forced to slash […]

Apple holds back on 5G

Cupertino, California: Apple will not be getting on the 5G smartphone bandwagon… for now. The most notable omission from this year’s iPhone devices is the lack of 5G, the super-high speed network currently rolling out around the world. Every major Android smartphone maker has launched – or announced – a 5G phone this year, while […]

Samsung expects to sell over 5m QLED TVs in 2019

Berlin: Samsung Electronics Co is set to make a quantum leap in sales of its flagship premium line-up of QLED televisions this year, thanks to growing consumer appetite for high-quality screen products, the firm’s TV business head has said. Han Jong-hee, president of Samsung’s visual display business, said the company is expected to solidify its […]

Dubai gold retailer Damas goes full tilt with expansion

Dubai: Despite headwinds in the Gulf’s gold and jewellery trade, Dubai-based Damas is opening new stores, renovating some of its existing ones, and planning to make a re-entry into India. All the while basing its business — present and future — around 22k jewellery. “22k is in our hearts … it’s where our strength is […]