Global air travel reaches 99% of 2019 levels: IATA
IATA’s Director-General Willie Walsh said that international travel is 5.5% below pre-pandemic levels, but that gap is narrowing fast. "And...Business
Five new residency programs to attract talent to Saudi Arabia
These residency products offer several benefits, including the ability to conduct business and invest in Saudi Arabia, own real estate,...Business Economy
Jarir posts $194m net profit in nine months
Q3 net profit surges 44 percent compared to Q2.The increase in net profit was attributed to a decrease in selling and marketing expenses and financing costs.
The net comprehensive income grows by about 2 percent.
ArcelorMittal arm buys Sharjah mill
ArcelorMittal Projects is a part of the ArcelorMittal Group.ArcelorMittal Projects has also leased 1.38 million sq ft of industrial land in the zone
The entire transaction, to be concluded in two phases, has a price tag of AED90 million ($24.51 million)
DP World and UK’s CDC Group to create Africa investment platform
DP World will contribute its stakes in three existing ports and invest $1 billion over the next few years through...DP World will contribute its stakes in three existing ports and invest $1bn over the next few years.
CDC is committing $320 million initially and a further $400 million over the next several years.
Samsung boss goes on trial on drugs charges
Lee Jae-yong is accused of having repeatedly taken anaesthetic propofol at a plastic surgery clinic in Seoul in 2017 and...Lee Jae-yong is accused of having repeatedly taken anaesthetic propofol at a plastic surgery clinic in Seoul in 2017 and 2018
Propofol is normally a medical anaesthetic but is also sometimes used recreationally
ACWA Power to enter Saudi Arabia’s main market from Oct. 18
Riyad-based ACWA Power will enter Saudi Arabia’s main market from the start of trading on Oct.18 and also join the...After debut on the Saudi exchange, ACWA shares jump by 30 percent.
ACWA Power is selling an 11.1 percent stake at SR56 ($14.93) per share. It is the third-largest listing on the bourse.
UAE and Italy’s export credit agencies review progress of joint initiatives
Etihad Credit Insurance (ECI), the UAE Federal export credit company, and SACE, the Italian export credit company (CDP Group), have...Etihad Credit Insurance chief says significant gains made in Halal-certified businesses.
The two sides explored how they can help boost the flow of goods, services and investment capital worldwide.
‘No Time to Die’ wastes no time topping US box office
The latest installment in the James Bond movie franchise shot straight to number one in North America's box office on...The movie shot straight to number one in North America's box office on its opening weekend, netting $55.5 million
The latest James Bond film sees Ian Fleming's spy hero dragged out of retirement to face off against old foes Blofeld, the criminal network SPECTRE and Safin
Is Binance moving headquarters to Dubai?
The world’s largest cryptocurrency exchange recently registered three companies in Ireland and is currently setting up several regulatory companies worldwide....Binance CEO Changpeng Zhao, according to sources, may move the operations of the world’s largest cryptocurrency exchange from Seychelles to the UAE city.
The cryptocurrency exchange is banned by several governments, while other countries are open to investigations into allegations such as market manipulation
IHC of Abu Dhabi acquires 51 percent of Bin Suhail Group to form beauty joint venture
International Holding Company (IHC), Abu Dhabi conglomerate, has agreed to acquire 51% of Bin Suhail Group through a subsidiary to...IHC subsidiary Multiply Group, owner of beauty brands such as Bedashing, will merge with Bin Suhail Group
The joint venture will operate under newly-established Omorfia Group, in which IHC will own a controlling 51% stake
World’s first Warner Bros. hotel to welcome guests in November on Yas Island
Miral in collaboration with Warner Bros. announced today that The WB Abu Dhabi hotel on Yas Island, operated by Hilton...Visitors can stroll through the lobby or admire 360-degree city and sea views alongside their favorite props and costumes from Warner Bros. films and TV shows
And kids and families can ring up one of their favorite Looney Tunes characters for a room service treat brought to them by the Wascally Wabbit, Bugs Bunny himself
