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Airlines need to cut jobs to save cash – IATA

The airline industry will need to decrease jobs to save costs and avoid bankruptcies in 2021 after the coronavirus (COVID-19) had severely affected the industry due to lockdowns and suspension of flights, the International Air Transport Association (IATA) announced. In 2021, the industry’s revenues are expected to plunge by 46% when compared to $838 billion in 2019, lower than 29% …

Airlines need to cut jobs to save cash – IATA قراءة المزيد »

AMD to buy chip peer Xilinx for $35 billion in data center push

Semiconductor designer Advanced Micro Devices on Tuesday said it has agreed to buy Xilinx in a $35 billion all-stock deal that will intensify its battle with Intel in the data center chip market. The deal, which AMD expects to close at the end of 2021, would create a combined firm with 13,000 engineers and a completely outsourced manufacturing strategy that relies …

AMD to buy chip peer Xilinx for $35 billion in data center push قراءة المزيد »

BP returns to profits in Q3 on improving oil demand

BP achieved a small profit in the third quarter (Q3), beating analyst expectations as the company benefited from stronger oil prices and the absence of significant exploration write-offs, CNBC reported on Tuesday. Third-quarter underlying replacement cost profit, used as a proxy for net profit, amounted to $100 million, compared with a loss of $6.7 billion …

BP returns to profits in Q3 on improving oil demand قراءة المزيد »

No total lockdown on Thursday: Minister

Minister of State for Media Affairs Ali Al-Ayed on Tuesday said that the there will be no blanket lockdown on Thursday which had been already announced a public holiday marking Prophet Mohammad’s birthday. The minister, who was responding to queries about a possible curfew on Thursday, told Petra that the lockdown will be limited to …

No total lockdown on Thursday: Minister قراءة المزيد »

Stocks inch lower in daily trading session

The Amman Stock Exchange (ASE) closed Tuesday’s trading session down by 0.05 percent at 1,554 points. A total of 4.4 million shares were traded through 1,626 transactions at a trading value of JD3.5 million. The closing prices of 29 companies with traded shares went up, while 32 others declined. The prices of the shares of …

Stocks inch lower in daily trading session قراءة المزيد »

IFEX Virtual Expo to be held on February 10,11

AFAQ Group, MENA region’s renowned exhibitions organizer, has announced the launch of the International Financial Virtual Expo – IFEX, February 10-11, 2021. The event will bring together leading brands in the online trading, fintech, banking, digital assets, blockchain, and payments sphere, in a full-scale, highly immersive virtual conference. With free passes for visitors, IFEX will …

IFEX Virtual Expo to be held on February 10,11 قراءة المزيد »

Khaitan stresses importance of Pan-Arab transport cooperation

Minister of Transport, Marwan Khaitan, stressed the importance of strengthening joint Arab cooperation in the transport field and removing all obstacles despite the current circumstances imposed by the coronavirus pandemic. The minister made the remarks as he participated in the 33rd Ordinary Meeting of the Council of Arab Transport Ministers (CATM), which has convened to …

Khaitan stresses importance of Pan-Arab transport cooperation قراءة المزيد »

NASA selects Nokia to build moon’s first 4G mobile network

NASA has chosen Nokia to build the first-ever 4G mobile network on Earth’s natural satellite for $14.1 million, CNBC recently reported. Bell Labs, Nokia’s US industrial research arm, is offering up its equipment to NASA to help build out the lunar network, aiming to launch it in late 2022. “The solution has been specially designed to …

NASA selects Nokia to build moon’s first 4G mobile network قراءة المزيد »

Intel to sell NAND business to S.Korean chipmaker for $9bn

Intel Corp has reached an agreement to sell its NAND memory chip business to South Korea’s SK Hynix Inc for $9 billion in an all-cash deal as it is looking to divest its non-core businesses, Reuters reported on Tuesday. The US chip giant will keep its Optane memory business, which has more advanced memory products. …

Intel to sell NAND business to S.Korean chipmaker for $9bn قراءة المزيد »

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