Accumulating bitcoin a risky digital rush by companies?
London, United Kingdom - US President Donald Trump's media group and Tesla, the electric carmaker owned by tech billionaire Elon...Business
Apple to invest additional $100 bn in US: White House
Washington, United States -- Apple will invest an additional $100 billion in the United States, taking its total pledge to...Business
Saudi Arabia’s real estate deals fall 11 percent in 2023: Ministry
Riyadh, Saudi Arabia -- The value of Saudi Arabia's real estate transactions fell year-on-year by 11 percent to nearly SAR...The number of real estate transactions reached around 172,070 by the end of 2023, while the total number of sold property reached 177,500.
Meanwhile, transactions value increased in the remaining five months, led by July at 65 percent.
ASML profit soars to US$8.5bn
It has shrugged off geopolitical tensions to post high profits.Its CEO Peter Wennink said in a statement that the semiconductor industry continues to work through the bottom of the cycle
It is one of the top manufacturers of equipment to make state-of-the-art semiconductor chips, which power mobile phones and cars
Global halal market set to hit $7.7 trillion by 2025
Makkah, Saudi Arabia — Global halal market is projected to reach an estimated $7.7 trillion by 2025. Leading the expansion...In education and health sectors, recent economic reports foresee the halal economy market doubling from $2.30 trillion in 2020 to $4.96 trillion in 2030
The Public Investment Fund in Saudi Arabia, a frontrunner in the global halal industry, took the initiative in 2022 to establish a company specializing in the development of halal
Gulf Warehousing Company profit down
Its net profit fell 10.24% to US$59.07 million in 2023.Its earnings per share (EPS) decreased to QR 0.37 in 2023 compared to EPS of QR 0.41 in the previous year, the company said
Its board of directors ratified the distribution of dividends of QR 0.11 at a rate of 11 percent per share for the year 2023
ADIB records 45% jump in net profit
Its revenue climbed 36 percent to US$2.53 billion in 2023.The bank in a statement said that Its net profit for Q4 2023 jumped to $408 million, an increase of 29 percent as against Q4 of 2022
The Abu Dhabi-based bank said that its revenue for 2023 improved by 36 percent to $2.53 billion compared to $1.85 billion last year
Mocktail mania in Saudi, where dry January lasts all year
Riyadh, Saudi Arabia - The concept was controversial: a pop-up bar offering bellinis and spritzes that, while non-alcoholic, were served in...Saudis say the trend is consistent with a broader push by Crown Prince Mohammed bin Salman to transform his oil-dependent nation into a foreigner-friendly business
King Abdulaziz enacted Saudi Arabia's alcohol ban in the early 1950s, not long after an incident in which one of his sons got drunk and, in a rage, shot dead a British diplomat
Dubai Customs records 30.4m transactions in 2023, posting 17.5% growth
Dubai, UAE--Dubai Customs has successfully processed more than 30.4 million customs transactions during the entire year of 2023. This set...The figures for 2023 have set a new record for the highest number of customs transactions by Dubai Customs, showcasing a 17.5% growth
The new accomplishment has resulted from the ongoing success of the Comprehensive Economic Partnership Agreements program
European Union probes Lufthansa’s proposed ITA Airways stake
The European Commission said it had "preliminary concerns that the transaction may reduce competition in the market for passenger air...Lufthansa, one of Europe's biggest carriers, last year agreed to pay 325 million euros ($350 million) for a 41 percent stake in ITA
The deal provided the German company various options to increase its stake or acquire ITA Airways outright at a later date
P&G posts mixed quarterly results
Earnings per share dropped 12 percent to $1.40.The company behind Bounty paper towels, Gillette razors and Tide detergent saw its revenue rise three percent from a year ago to $21.4 billion in the quarter ending in December
This was slightly lower than expected, and analysts are eyeing the performance of P&G and other consumer companies on whether they can keep prices up even as inflation cools
Zee’s shares fall after merger fails
Disagreement over who would lead the new entity led to merger's failure.The initial 30 percent plunge saw Zee lose as much as 55 billion rupees ($661 million) in market value.
"Considering that Zee still has six billion rupees cash on books... we see no bankruptcy risks," an expert said.
