Renowned designer Cucinelli stresses sustainability at Saudi event
Riyadh, Saudi Arabia -- Renowned luxury fashion designer Brunello Cucinelli shared his insights on building a global brand and the...
Business
Asia-Pacific markets mixed after Powell signals smaller rate cuts
Asia-Pacific markets are mixed on Tuesday, after Federal Reserve Chair Jerome Powell indicated the recent outsized cuts enacted by the...
Economy
Economy
What a Fed rate cut could mean for the world
The U.S. Federal Reserve is on Wednesday heading for its first interest rate cut since the onset of the COVID-19...
- Global markets brace for the first rate cut by the Federal Reserve this week
- High level of uncertainty around whether it will cut by 25 basis points or 50
Economy
Stocks firm, dollar subdued as market flirts with outsized Fed cut
Asian stocks dithered and the dollar slipped on Monday in a week that is almost certain to see the start...
- Futures imply 59% chance of outsized Fed rate cut
- Policy makers project 100 basis points of cuts this year and 150 basis points for 2025
Business
Dubai tourism shines: 25 percent repeat visitors, rising AI use
Dubai, UAE -- Dubai Corporation for Tourism and Commerce Marketing (DCTCM) has confirmed that 25 percent of visitors to Dubai...
- The high return rate is a proof that visitors are happy with what we offer them, said Issam Kazim, CEO of DCTCM.
- He added that the use of artificial intelligence can remove daily routine tasks and allow individuals to focus on the most important work.
Economy
ECB set to cut interest rates before the Fed’s big decision next week
The European Central Bank on Thursday is set to slash rates again by 25 basis points just days ahead of...
- In July, the ECB left interest rates unchanged in a unanimous vote following June’s landmark cut
- Headline inflation in the EURO hit a three-year low in August with a reading of 2.2%
Business
Market capitalization of 20 UAE listed firms reaches $762 billion
Abu Dhabi, UAE -- The market capitalization of the top 20 listed companies in the local stock markets by market...
- The 20 listed companies accounted for 77.6 per cent or AED 2.79 trillion of the total market capitalization of the local equity markets of AED 3.59 trillion.
- Global Holding came out on top with a market capitalization of more than AED 912.29 billion, equivalent to 25.4 percent of the capitalization of local markets.
Chinese EV company Xpeng shares up 6% post mass-market car launch
Xpeng shares rose after the Chinese electric car company launched its new mass-market Mona brand on Tuesday with prices starting...
- Orders for the Mona M03 electric coupe exceeded 10,000 just 52 minutes after formal launch
- Chinese automaker BYD and U.S. giant Tesla cemented their dominance in H1 2024.
Economy
Asia-Pacific markets mixed, dollar down Monday as Fed readies to acknowledge cuts
Asia-Pacific markets were mixed on Monday after a week that saw a broad rally in stocks, as investors awaited a...
- The Bank of Korea releases rate decision Thursday, Japan and Singapore issue inflation data Friday
- Against the yen, the greenback fell more than 0.8% to 146.37
Economy
US Department of State issues favorable 2024 Bahrain Investment Climate Statement
The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a...
- Oil and gas sector now makes up less than 20 percent of Bahrain’s GDP
- Bahrain’s total foreign direct investment (FDI) stock reached $33.8 billion in 2023
Business
TAQA Q1 net income $571m
Net income fell $2.58bn due to one-off items recognized in 2023.
- Net income, excluding these one-offs, increased by AED 100 million, 6.9% higher than the prior-year period.
- TAQA’s revenues reached AED 13.7 billion, 5.3 percent higher than the prior-year period, due to the contribution from SWS Holding.
Business
OpenAI reveals new GPT-4o model that is faster and free for all users
OpenAI on Monday launched a new AI model and desktop version of ChatGPT, along with an updated user interface, the...
- OpenAI, backed by Microsoft, has been valued at more than $80 billion by investors
- The new model can respond to users’ audio prompts “in as little as 232 milliseconds
Renowned designer Cucinelli stresses sustainability at Saudi event
Riyadh, Saudi Arabia -- Renowned luxury fashion designer Brunello Cucinelli shared his insights on building a global brand and the...
Business
Company News
Kamco Invest launches two funds
Business
Latest News
Proof of Covid-19 vaccination, PCR test needed to enter Expo Dubai
Expo 2020 visitors will need a coronavirus vaccination or a negative PCR test to enter, organisers in Dubai has said....
Dubai tourism shines: 25 percent repeat visitors, rising AI use
Dubai, UAE -- Dubai Corporation for Tourism and Commerce Marketing (DCTCM) has confirmed that 25 percent of visitors to Dubai...
Business
ECB set to cut interest rates before the Fed’s big decision next week
The European Central Bank on Thursday is set to slash rates again by 25 basis points just days ahead of...
Economy
Market capitalization of 20 UAE listed firms reaches $762 billion
Abu Dhabi, UAE -- The market capitalization of the top 20 listed companies in the local stock markets by market...
Business
Most Read
Economy
Asia-Pacific markets mixed, dollar down Monday as Fed readies to acknowledge cuts
Asia-Pacific markets were mixed on Monday after a week that saw a broad rally in stocks, as investors awaited a...
- The Bank of Korea releases rate decision Thursday, Japan and Singapore issue inflation data Friday
- Against the yen, the greenback fell more than 0.8% to 146.37
Economy
US Department of State issues favorable 2024 Bahrain Investment Climate Statement
The investment climate in the Kingdom of Bahrain is positive and relatively stable. Bahrain maintains a business-friendly environment and a...
- Oil and gas sector now makes up less than 20 percent of Bahrain’s GDP
- Bahrain’s total foreign direct investment (FDI) stock reached $33.8 billion in 2023
Business
TAQA Q1 net income $571m
Net income fell $2.58bn due to one-off items recognized in 2023.
- Net income, excluding these one-offs, increased by AED 100 million, 6.9% higher than the prior-year period.
- TAQA’s revenues reached AED 13.7 billion, 5.3 percent higher than the prior-year period, due to the contribution from SWS Holding.