EasyLease buys stake in United Trans
This helps EasyLease expand its presence in mobility sector.Company News Business
Q3 corporate earnings show mixed results in GCC
While the energy and commodity sectors faced declines due to falling prices, the banking and telecom sectors demonstrated remarkable resilience,...While the energy and commodity sectors faced declines due to falling prices, the banking and telecom sectors demonstrated remarkable resilience, says a latest report.
The latest comprehensive analysis by Kamco Invest delves into the intricacies of the GCC's corporate financial performance during a turbulent economic period.
Al Rajhi Bank appoints Abdullah Al Rajhi as chairman
RIYADH, SAUDI ARABIA - Al Rajhi Bank said on Monday that it has appointed Abdullah bin Sulaiman Al Rajhi as...Al Rajhi Bank is also the world’s largest Islamic bank by assets and market capitalization.
It said in a regulatory filing that it also named Ibrahim bin Mohammed Al Romaih as vice chairman.
Tesla sues Swedish state over strike fallout
Stockholm, Sweden - Electric carmaker Tesla on Monday filed a lawsuit against the Swedish state over a strike by postal workers...Tesla is currently facing strikes on multiple fronts in Sweden over its refusal to sign a collective wage agreement for its mechanics
Tesla has asked the courts to compel the Swedish Transport Agency to make sure plates for vehicles registered with the agency "come into Tesla's possession"
Abu Dhabi’s EWEC opens Q4 2023 Clean Energy Certificates auction
ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023...CECs are the only accredited instruments in the Emirate that prove the environmental and economic benefits of consuming clean energy.
Issued in units of 1MWh, each CEC certifies that the electricity consumed by the entity originates from a clean energy source.
Abu Dhabi’s financial sector surges 30% in Q2, non-oil growth 12%
Abu Dhabi, UAE -- The financial sector in the UAE has experienced a surge of 30 percent in the second...Non-oil sectors now constitute nearly 54 percent of the total GDP, according to Ahmed Jasim Al Zaabi, chairman ADDED.
Non-oil foreign merchandise trade expanded by 13 percent by the end of the third quarter.
$37 billion private funding announced for new UK projects
Spanish energy company Iberdrola announced £7 billion of funding for offshore wind infrastructure while US tech giant Microsoft plans to...The UK government said the new investment would create 12,000 jobs "in our most innovative sectors, including tech, life sciences, renewables, housing and infrastructure
Investments announced on Monday included £10 billion over the next four years from Australian fund IFM Investors "for large-scale infrastructure and energy transition projects"
Stock markets on hold as investors await key US inflation data
Stock markets were mostly in wait-and-see mode as investors eyed the release this week of key US inflation data that...The Dow edged higher at the open, while the S&P 500 and Nasdaq drifted lower.
With Wall Street seeing little action at the back of last week owing to the Thanksgiving break, traders had few catalysts to drive action.
Beltone 9M net profit at $2.7m
In 9M, the firm's restructuring led to a turnaround.Operating revenue in 9M 2023 increased to US$30 million, a growth of 271 percent Year-on-Year.
The NBFIs operating revenue recorded US$15 million in 9M2023, a growth of 680 percent YoY.
EDB commits US$350m for renewable energy projects in developing countries
ABU DHABI, UAE - Emirates Development Bank (EDB) has committed US$350 million (AED 1.3 billion) to support the Energy Transition Accelerator...The ETAF platform is a global climate finance facility established by the International Renewable Energy Agency (IRENA).
The announcement was made during the signing of a collaborative partnership agreement between EDB and IRENA.
Chinese tourism bookings to Saudi surge 277% after mega promotional campaign
Shanghai, China -- In a bid to attract Chinese tourists, the Saudi Tourism Authority recently concluded its first, and the...Saudi Market Festival, a celebration of heritage, culture and nature, held at the iconic Bund Waterfront in Shanghai drew a crowd of over 80,000.
The impact of the campaign has been substantial, with over 500 million Chinese reached, the Saudi Press Agency reported.
