SLS: Nasa's 'megarocket' engine test ends early

Shortly before 22:30 GMT (17:30 EST) on Saturday, the four engines ignited, burning for more than a minute before the event was aborted. The core stage of the the Space Launch System (SLS) was being evaluated at Stennis Space Center, in Mississippi. The engines were supposed to fire for eight minutes to simulate the rocket's climb to orbit. The ...

Shuaa Capital buys out Dubai-based Stanford Marine Group's Dh1.13 billion debt

Shuaa Capital on Sunday announced that it has successfully completed a debt buyout of Stanford Marine Group's (SMG) Dh1.13 billion ($308 million) facility, resulting in a successful outcome for all parties involved, including the participating banks. SMG is one of the most prominent and diversified offshore services companies in the Middle East,...

Biden to sign executive orders rejoining Paris climate accord and rescinding travel ban on first day

President-elect Joe Biden plans to sign roughly a dozen executive orders, including rejoining the Paris climate accord and ending the travel ban on predominantly Muslim countries, on his first day in office, according to a memo from incoming chief of staff Ron Klain. He'll also sign orders halting evictions and student loan payments during the c...

eXtra posts 36% profit rise to $74.8m in FY2020

United Electronics Company (eXtra) reported an estimated net profit after Zakat and tax of SR280.3 million ($74.75 million) for fiscal year 2020, up by 36 percent year-on-year (YoY) due to higher sales across stores and e-commerce. The company also cited increase in gross profit and rise in revenues from consumer finance services. The Q4 2020 ne...

Dubai Bets On Speedy Vaccine Rollout to Keep Expo 2020 on Track

Dubai is hoping one of the world’s fastest vaccination programs and rapid testing technology will help achieve its goal of holding the Expo 2020 event this year, after the coronavirus pandemic forced a delay. The government is confident inoculation programs will be successful enough to open the Expo on Oct. 1 and says it’s still possible tha...

Samsung says profits are rising, but smartphone competition is fierce

Samsung predicts its profits rose nearly 26% last quarter. That suggests demand for many of its products has kept up during the coronavirus pandemic even as it faces tough competition in the smartphone market. The South Korean conglomerate said Friday that it...

Blankfein Called It, Now the Whole World Is Watching Commodities

It was mid-September when Lloyd Blankfein, the former chief executive officer of Goldman Sachs Group Inc., suggested investing in commodities was “not a bad thing.” Prices for most materials were just off pandemic lows and the asset class was still very much the ugly duckling. Fast forward four months and commodities are surging. Goldman Sac...

Motorhomes 'missing' after rental firm collapsed

People who lent a motorhome rental business money are facing big losses after it collapsed owing more than £7m. Unbeatable Hire Limited used the loans to buy more motorhomes, promising to give lenders all of their money back and returns of up to 10% a year. But many lenders are out of pocket after the company went into administration and numero...

Busting the Faang Oligarchy Is Stimulus Active Funds Could Savor

Frenzied retail buying catapults equity benchmarks to records. A handful of mega-companies dominate, drawing daily warnings about nosebleed valuations. Suddenly a rotation takes hold, reviving left-behind industries while ...

Warner Bros. Guarantees Filmmakers a Payday for HBO Max Movies

Warner Bros. has come up with a new plan to compensate filmmakers during the pandemic: treat every movie like a box-office smash. After shocking Hollywood with its decision to release all its new movies this year on HBO Max, the studio has adjusted terms of its deals with partners to gua...

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