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SIB’s 2024 profit $272m

The profit surpassed AED 1 billion for the first time in bank's history.

AD Ports to invest in Kazakh port

Under the deal, AD Ports Group owns 51% stake.

PIF acquires stake in Saudi Re

The acquisition was made by way of a capital increase.

ADNOC Gas awards contracts

The $2.1bn contracts are aimed at enhancing LNG supply infrastructure.

ADNOC L&S buys stake in Navig8

The company will acquire the remaining stake in mid-2027.

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

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

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.

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%

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.

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

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

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.

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...

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...

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...

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...

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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

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

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.