Dubai’s ATM 2026 closes with record Asia-GCC travel data, tourism rebound
The 33rd edition, held under the theme "Travel 2040: Driving New Frontiers Through Innovation and Technology," saw the launch of...
Business
Rubio meets UAE president as US-Iran technical talks set to resume next week
Rubio and Sheikh Mohamed reviewed strategic cooperation between the UAE and the US and discussed regional developments, with particular focus...
Geostrategy
Economy
RTA launches Phase II Study of Intelligent Traffic Systems Initiative
Dubai’s Roads and Transport Authority (RTA) has started the study and design of Phase II of ITS Improvement and Expansion...
- This phase to cover 100 percent of Dubai's main roads, adopt latest smart technologies and software
- The project has improved incident monitoring by 63 percent, reduced response times by 30 percent
Business
JPMorgan to launch ‘Pay With Your Face’ Shopping
JPMorgan Chase is reportedly preparing to launch a biometric payments system for the masses, the Daily Hodl reported quoting the American...
- 28% of consumers have used facial recognition for an online purchase in the last 30 days
- Â 3 billion people will pay using biometrics by 2026, with global transactions hitting $5.765 trillion per year
Opinion
Work-life imbalance, mental health hit women hardest
Despite widespread cultural and contextual differences, many women around the world are experiencing similar challenges in and out of the...
- Women are feeling the weight of misbalanced caregiving and domestic responsibilities.
- Nearly half of the women say they are worried about their personal safety at work or when commuting or travelling for work
Economy
Oil prices fall amid Israeli Palestinian cease-fire hopes, US crude stockpile building
Oil prices fell on Wednesday over growing hopes for a cease-fire agreement between Israel and Hamas and rising crude inventories...
- International benchmark Brent crude traded at $85.28 per barrel
- Increase of 4.9 million barrels in US crude oil inventories
Business
Drake & Scull to issue 2.4 billion shares
This will raise its share capital by $163 million to $944 million.
- The subscription will open on April 25 and close on May 10. New Shares will be allocated on May 16 while share trading will resume on May 21.
- The Mandatory Convertible Sukuk will be issued on May 31 for a period of five years and will be converted into Drake & Scull shares
Economy
Middle East economy firm despite challenges
Non-oil growth to stay robust, bolstered by a strong non-oil GDP growth in the region's two biggest economies, UAE and...
- The disruption to Red Sea trade has revived discussions around the need for alternative trade corridors
- There is a growing momentum around green financing following the success of COP28 and the introduction of green finance frameworks
Business
ADNOC Gas to pay $3.25bn in dividends
The company had paid an interim cash dividend of $1.62bn in Dec 2023.
- A further $1.625 billion scheduled for distribution in the second quarter of 2024.
- In 2023, it reported revenues of $22.7 billion and a net income of $4.7 billion
Business
Amlak 2023 net profit $70m
The company's revenue fell by 18 percent in 2023.
- Revenues from financing business activities for the year 2023 declined by 3 percent as compared to 2022 and stood at AED 122 million in 2023 (FY22: AED 127 million).
- The company recorded a net gain of AED174 million (2022: AED 349 million) on debt settlement arrangements and was able to reduce its debt burden by AED531 million.
Business
Waha to pay cash dividend of 10 fils
The firm also okays 1.5 fils per share special dividend.
- Waha Capital reported a net profit of AED440 million in 2023, an increase of 28 percent from the previous year.
- Waha Investment, the company’s wholly owned asset management subsidiary, produced a net profit of AED639 million.
Business
EU imports US$120.5bn worth of energy products in Q4 2023
BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...
- Compared with the same period in 2022, imports decreased both in value (-34.2 percent) and in net mass (-11.7 percent).
- Comparing 2023 with 2022, the value of energy products dropped by 35 percent, while the volume dropped by 9.4 percent.
Dubai’s ATM 2026 closes with record Asia-GCC travel data, tourism rebound
The 33rd edition, held under the theme "Travel 2040: Driving New Frontiers Through Innovation and Technology," saw the launch of...
Business
Company News
Latest News
Saudi Business Council established to strengthen Eastern European partnerships
The council aims to align its focus with Saudi Arabia’s Vision 2030 and the economic agendas of Eastern European countries,...
Economy
Saudi Arabia submits official bid to host FIFA World Cup 2034 after successful Qatar event in 2022
The next steps include official visits by FIFA and a comprehensive evaluation of the bid.
Economy
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
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Economy
Transformative New Murabba Stadium design in Riyadh revealed by PIF
Equipped with cutting-edge sporting technology, the stadium will offer an immersive and personalized experience for fans. Additionally, it will act...
- The design of the Stadium symbolizes the fusion of tradition and innovation that defines New Murabba
- The project is scheduled for completion by the end of 2032
Economy
RTA launches Phase II Study of Intelligent Traffic Systems Initiative
Dubai’s Roads and Transport Authority (RTA) has started the study and design of Phase II of ITS Improvement and Expansion...
- This phase to cover 100 percent of Dubai's main roads, adopt latest smart technologies and software
- The project has improved incident monitoring by 63 percent, reduced response times by 30 percent
Business
JPMorgan to launch ‘Pay With Your Face’ Shopping
JPMorgan Chase is reportedly preparing to launch a biometric payments system for the masses, the Daily Hodl reported quoting the American...
- 28% of consumers have used facial recognition for an online purchase in the last 30 days
- Â 3 billion people will pay using biometrics by 2026, with global transactions hitting $5.765 trillion per year