ADNOC Distribution 2024 net profit down 7%
Minus UAE corporate tax, it would have grown by 2.4% to $725m
Business
Alpha Dhabi acquires interest in NCTH
The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.
Business
Business
Dubai real estate market records $925 million in daylong transactions
Dubai, UAE -- Dubai's real estate market recorded 510 sales transactions worth AED1.36 billion on Tuesday, in addition to 210...
- The sales included 446 villas and apartments worth AED949.04 million, and 64 land plots worth AED411.67 million.
- On Monday, emirate recorded 715 sales transactions worth AED2.28 billion, in addition to 201 mortgage deals of AED993.9 million.
Business
Alef Group announces US$84m sales transaction at ACRES 2024
SHARJAH, UAE - Alef Group concluded its participation in the ACRES Real Estate Exhibition 2024 with resounding success, generating significant...
- ACRES Exhibition is a unique global Arab platform which brings together major investors and businessmen.
- This is evident in the success achieved by the ACRES over its successive sessions since its launch in 2008.
Business
Saudi GACA issues air carrier, airport classifications for December 2023
RIYADH, SAUDI ARABIA - The General Authority of Civil Aviation (GACA) issued its monthly classification index for air transport service...
- Flynas had the fewest complaints among airlines, 42 per 100,000 travelers and a complaint resolution rate of 100 percent.
- SAUDIA Airlines came second, with 61 complaints per 100,000 travelers and a resolution rate of 99 percent.
Business
Dubai posts real estate transactions worth $3.5bn in week ending January 19
DUBAI, UAE - The real estate and properties transactions valued at US$3.5 billion (AED13 billion) in total during the week...
- The sum of transactions was 3,697 and 184 plots were sold for US$547 million.
- 2,770 apartments and villas were sold for US$2 billion (AED 7.46 billion).
Geostrategy
Palestinians count cost of Israel’s West Bank raid
Palestinians held funerals and assessed the damage of a days-long Israeli raid in the occupied West Bank, where violence has...
- Mourners threw flowers over those killed and masked gunmen fired in the air as the funeral procession made its way through Tulkarem refugee camp..
- Israel's military said they searched around 1,000 buildings around Tulkarem and interrogated hundreds of people, arresting dozens of them.
Business
Qatar real estate trading volume reaches US$91m between January 7-11
DOHA, QATAR - The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
- Total sales contracts for residential units in the Real Estate Bulletin from January 7 to January 11 were US$15 million.
- The volume of real estate trading in sales contracts from December 31, 2023 to January 4, 2024, exceeded US$222 million.
Business
Emirates to recruit 5,000 crew members in 2024
DUBAI, UAE – Emirates will hire 5,000 people as it awaits the arrival of its fleet of Airbus A350s.The airline is...
- The airline is inviting fresh graduates with internships or part-time jobs on their résumés.
- It is inviting individuals keen to embark on an exciting career travelling the globe. .
Business
CBI 2023 net profit at $46.5m
The 2023 annual net profit rose 14 percent from 2022.
- The customer deposits increased from US$3.3 billion in 2022 to US$3.4 billion in 2023.
- The capital adequacy ratio increased from 14.4 percent in 2022 to 15.2 percent in 2023.
Geostrategy
EU worried Red Sea attacks could spark inflation
European Union economy commissioner Paolo Gentiloni warned that violence in the Red Sea sparked by Houthi attacks on shipping could...
- Gentiloni said that "what is happening in the Red Sea... is not for the moment apparently creating consequences on energy prices and inflation".
- Tensions in the Red Sea have soared after the United States and Britain carried out strikes on Houthi rebels in Yemen.
Business
Mammoet, Aertssen sign agreement
The two firms will provide heavy-lifting solutions in Qatar.
- Mammoet said in a statement that the collaboration will "capitalize on the individual strengths and capabilities of both companies".
- The solutions range from small mobile cranes for quick operations to complex engineered heavy lifting and transport projects.
ADNOC Distribution 2024 net profit down 7%
Minus UAE corporate tax, it would have grown by 2.4% to $725m
Business
Company News
Latest News
RAKBANK, DP World sign pact
Business
Chinese electric car company Nio to enter UAE this year
Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an...
Business
Saudi Arabia launches ‘National Semiconductor Hub’
At least 50 semiconductor design companies will be established in Saudi Arabia by 2030 after a new initiative was launched to develop...
Economy
Exhibition of art and poetry in Dubai celebrates women
Featuring the work of international women artists, "La Belleza" celebrates the deep connection between art and poetry.
Arts & Culture
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Arts & Culture
Saudi Arabia inaugurates its second “House of Culture”
As part of the “Quality of Life” program, these houses aim to upgrade cultural infrastructure and boost Saudi engagement in...
- Each “House of Culture” in the Kingdom has a strategic plan for sustainability and activation
- These cultural houses feature various sections, including learning areas, a kids’ theater, a main stage, and reading spaces
Geostrategy
Geopolitical unrest generates an onslaught of DDoS attacks
NETSCOUT SYSTEMS, INC. released findings from its 2H2023 DDoS Threat Intelligence Report that dissects trends and attack methodologies adversaries use...
- Hacktivist Groups increase activity globally
- Over 7 million DDoS attacks in H2 2023
Space economy set to triple to $1.8trn by 2035, reveals new research
The growth of the space industry will largely be built upon the increased reach of space-based and/or -enabled technologies, such...
- The growth will largely be due to space-based and -enabled technologies, such as communications positioning, navigation and timing.
- Space technologies are delivering greater value to a more diverse set of stakeholders than ever before, including in industries as varied as food and beverage, among others.