Saudi Arabia announces general budget for first quarter of 2021

Dubai: Saudi Arabia on Tuesday announced the general budget for the first quarter of 2021, with total revenue of 204.7 billion riyals and a deficit of 7.4 billion riyals. Total spending stood at 212.2 billion riyals. Oil revenues amounted to 117 billion riyals, accounting for 57 per cent of the Kingdom’s total revenues. Meanwhile, non-oil […]

Twitter bolsters subscription plans with ad-free news

San Francisco: Twitter on Tuesday said it is buying Scroll and its ad-free news app to bolster a coming subscription service, and channel money to journalism in the process. The global one-to-many messaging platform did not disclose how much it is paying for Scroll, which owns the Nuzzel app. “Scroll will become a meaningful addition […]

Huawei deepens dive into electric vehicles

China’s Huawei Technologies is in talks to take control of a small domestic automaker’s electric vehicle unit, two people with direct knowledge of the matter said, a move that would be a strategic shift for the world’s largest telecom equipment maker. A company spokesman denied such a step, however. Huawei, which has been battered by […]