Talabat IPO offer price range announced
The subscription will close on 27 Nov for UAE retail investors.
Business
Saudi ministry, Red Sea Authority to boost coastal tourism
Riyadh, Saudi Arabia -- The Saudi Red Sea Authority, in cooperation with the Ministry of Tourism, has launched the "Seas...
Business
Analysis
Lebanon to disburse dollars to families
The decision to disburse the $246-million World Bank loan in dollars will have a significant impact on the beneficiaries.
- Lebanon had approved a $246-million loan from the World Bank in March this year
- Its disbursal had been held up due to government’s initial decision to disburse the loan in Lebanese pounds
Science
Elon Musk announces humanoid Tesla Bot
Musk said the robot would be five feet and eight inches tall, and that a prototype would be ready next...
- Musk compared the current fleet of Tesla cars to “semi-sentient” beings
- He then said whatever the vehicles are capable of could well be put into humanoid form
Geostrategy
US’ Iran sanctions target Omani man, firms
The US Department of Treasury said the sanctions are on ‘individuals and businesses’ involved in a network that smuggled oil...
- The US has sanctioned an Omani national Mahmood Rashid Amur Al Habsi, who it said helped smuggled oil out of Iran
- On the list of sanctions are also two companies owned by Al Habsi, and a tanker used to ferry oil
Investigation
$600m crypto theft case about to be solved?
DeFi platform Poly Network said on Twitter on Wednesday that the threat actor or actors had already returned cryptocurrency worth...
- Poly Network on Tuesday identified the vulnerability that had been exploited to break into its platform
- A threat actor named an entity named PolyNetwork Exploiter is now transferring funds back to the company
Research
Saudi Central Bank to augment Islamic banking
The Saudi Central Bank or SAMA has launched two programs to augment Islamic banking through research and translation, local reports...
- They are the Islamic Finance Research Support Program and the Islamic Finance Research Translation Program
- Both programs are expected to offer cash prizes for the best research papers in various categories
Emirates ‘stewardess’ on top of Burj Khalifa
The new advertisement has gone viral on social media.
- The 33-second ad shows what appears to be an Emirates stewardess atop the Burj Khalifa, the tallest building in the world
- The woman is seen thanking the United Kingdom for removing the UAE red list and onto the amber one
Talabat IPO offer price range announced
The subscription will close on 27 Nov for UAE retail investors.
Business
Company News
Yanbu NPC loss $129m
Business
Latest News
Aramex Q4 net profit doubles
Business
DEWA 2023 net profit $2.15bn
Business
ADNOC Drilling to pay $358m dividend
This brings the total dividend for 2023 to $717 million.
Business
Women returners to MENA workforce can contribute $385bn to GDP
Doha, Qatar -- Women returning to the workforce following a career break have the potential to contribute nearly $385bn to...
Business
CI Capital 2023 revenue $134m
The firm’s performance was fueled by strong growth.
Most Read
Business
Yanbu NPC loss $129m
The company had reported net profit of $110 million in 2022.
- Against the revenue/sales of SAR 7.02 billion in 2022, the company posted revenue/sales of SAR 4.53 billion in 2023, down 35 percent.
- In a Tadawul disclosure, the company attributed the loss to lower average sales prices for all products compared to the previous period.
Business
PIF acquires 40% of Zamil Offshore
Zamil is one of the largest offshore support vessel operators.
- PIF said the investment will enable Zamil to continue expanding its services and fleet to serve the growing demand for offshore support services.
- Incorporated in 1977, Zamil Offshore manages and operates more than 90 vessels in the Arabian Gulf.
Business
Dubai records over US$2.6bn in weeklong real estate transactions
DUBAI, UAE - A total of 3,543 real estate transactions worth over US$2.6 billion (AED9.8 billion) were conducted during the...
- A total of 3,543 real estate transactions worth over US$2.6 billion were conducted during the week ending February 9, 2024.
- A DLD report showed that 197 plots were sold for $315 million while 2,572 apartments and villas were purchased for $1.5 billion.