Global experts and cybersecurity leaders convene in Dubai to inform future-ready solutions
The World Economic Forum will convene more than 500 experts from government, business, academia, international organizations, civil society and media,...
Business
stc net profit for 2024 $6.58bn
Business
DAE net profit up 36.2%
Business
UAE Council warns 98% of cyberattacks rely on social engineering
Abu Dhabi, UAE -- The UAE Cyber Security Council has cautioned that social engineering remains the most common tool used...
Geostrategy
Business
UAE national carriers fly to 606 destinations as travel demand rebounds
Abu Dhabi, UAE -- UAE national carriers continued to expand their destinations for passengers, supported by the UAE's leading position...
- The carriers reached about 586 destinations at the end of last year 2023. The national carriers' destinations currently include more than 144 Emirates destinations.
- flydubai flies to 125 destinations in 58 countries across Africa, Central Asia, Central and Southeast Europe, the GCC, the Middle East.
Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...
- Oil prices climbed 0.8% after Israel and Hezabollah traded rocket salvos
- The dollar slipped a further 0.5% to 143.64 yen, having fallen 1.3% on Friday
Business
EGA buys 80% stake in Spectro
EGA says the deal boosts its plan to expand recycling space globally.
- The owners and management will hold a 20 per cent stake, as the two companies have signed a share purchase agreement.
- The transaction is expected to be completed during the third quarter of 2024, subject to obtaining all regulatory approvals.
Economy
Oil falls by more than $2 a barrel on Gaza ceasefire talks and weak Chinese economy
Oil prices fell by more than $2 a barrel Monday on the prospect of successful Middle Eastern peace talks reducing...
- Brent crude futures settled at $77.66 a barrel
- Energy investors also awaited clues on the U.S. Federal Reserve's next interest rates decision
Business
Abu Dhabi Airports, Paris Airports to expand air transport infrastructure
Abu Dhabi, UAE-- Abu Dhabi Airports has expanded its existing collaboration with Paris Airports Group (ACG) to focus on collaborating...
- This decision comes after Abu Dhabi Airports completed a comprehensive program of activities aimed at enhancing the contribution of partners among other things.
- The collaboration is aimed at creation of the ground infrastructure needed to provide advanced air transport applications in Abu Dhabi.
Global fears spread about Mpox- How worried should you be?
The World Health Organization (WHO) regional director for Europe warned on Thursday that Mpox could spread to other countries after...
- Sweden reported the first case of the more contagious variant of Mpox outside of Africa
- The virus seems to be spreading quickly and little is known about it
Economy
World’s largest SWF posts $138 billion in H1 profit as AI demand boosts tech
Norway’s massive sovereign wealth fund on Wednesday posted first-half profit of 1.48 trillion kroner ($138 billion), primarily driven by robust...
- Completely different geopolitical situation now present more risks to global stocks
- The PIF, which has $977 billion in assets, reported a 2023 profit of $17.2 billion in a July 2024 filing
Business
UAE, Saudi Arabia lead Middle East IPO surge in second quarter
Abu Dhabi, UAE -- The IPO market in the Middle East and North Africa (MENA) region remained resilient during the...
- A total of 14 IPOs recorded total proceeds of US$2.64 billion, up 45.3 percent compared to the same period last year.
- The UAE’s Alef Education Consultancy LLC and Spinneys 1961 Holding Plc accounted for 33.8 percent of the region’s total proceeds for the quarter.
Oil prices soar 4 percent but US inflation fears ease
U.S. crude oil prices rose over 4% on Monday, surpassing $80 per barrel, as the Pentagon deployed additional forces to...
- WTI and Brent crudes were both hovering around $80 per barrel at time of publishing
- Expectations for three-year inflation hitting a record low of 2.3%
Saudis reform Investment Law in bid to attract foreigners
Saudi Arabia announced new business regulations aimed at boosting transparency and easing the process of investing in the kingdom as...
- Update will replace the current licensing process in 2025
- Kingdom wants to hit $100 billion of FDI annually by 2030
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Global experts and cybersecurity leaders convene in Dubai to inform future-ready solutions
The World Economic Forum will convene more than 500 experts from government, business, academia, international organizations, civil society and media,...
Business
Company News
stc net profit for 2024 $6.58bn
Business
DAE net profit up 36.2%
Business
Latest News
SIB’s 2024 profit $272m
Business
ADQ and US equity firm ECP to invest $25bn in data center energy projects
Dubai, UAE -- Abu Dhabi sovereign wealth fund ADQ has partnered with the American private equity firm Energy Capital Partners...
Business
Dar Alarkan 2024 profit up 32%
The company's net profit increased by 81.5 percent in Q4 2024.
Business
How do GCC-Arab leaders look at the region’s future?
The bigger your vision, the bigger your achievement will be. Will you stumble on the way? Perhaps, but we cannot...
Geostrategy
Most Read
Economy
UAE’s real GDP increases by 3.8% during first nine months of 2024
Dubai, UAE -- The UAE’s real GDP increased by 3.8 percent during the first nine months of 2024 compared to...
- This growth was driven by a strong expansion in non-oil sectors, which grew by 4.5 percent to AED 987 billion.
- The contribution of non-oil activities to real GDP reached 74.6 percent, highlighting the increasing role of these sectors in supporting economic growth.
Science
Japan puts world’s most accurate clock on sale for $3.3 million
The "Aether clock OC 020" is so precise that it would take 10 billion years for it to deviate by...
- Shimadzu is aiming to sell 10 of its clocks over the next three years and hopes its customers will use them to advance scientific research.
- Known as a "strontium optical lattice clock", it is 100 times more accurate than caesium atomic clocks, the current standard for defining seconds.
Business
ADNIC okays 45% dividend for 2024
The company achieved its highest ever revenue and net profit.
- As a result of strong underwriting and investment performance, ADNIC's net profit before tax grew by 16.3 percent year on year to AED 466.4 million.
- Its total assets grew by 52.9 percent year on year to reach AED 11.8 billion and total shareholders equity grew by 20.6 percent for year on year to reach AED 3.5 billion.