China records expansion in factory activity for first time in six months
Shenzhen, China--China's manufacturing activity expanded for the first time in six months in March.The official purchasing managers' index (PMI) rose...Business
Digital transformation fuels GCC banks’ growth
The banking sector across the GCC has demonstrated formidable growth and profitability, with Qatar leading in several key performance indicators,...Business
ADNOC Gas net income $3.37bn
The company's third-quarter revenue grew by 8% to $5.80 billion.Net income for the quarter increased by 13 percent quarter-on-quarter (Q-o-Q) to $1.116 billion.
ADNOC Gas expects to pay its inaugural interim cash dividend of $1.625 billion with payments commencing on 14 December 2023.
Dubai Airports expect to cross pre-pandemic passenger numbers in 2023
Dubai, UAE--Dubai Airports is expecting annual passenger traffic at Dubai International (DXB) to touch 86.8 million – surpassing 2019 traffic,...It forecasts annual passenger traffic at Dubai International (DXB) to touch 86.8 million, crossing 2019 traffic, propelled by strong growth
Some 23m passengers passed through the airport in Q3, taking the total traffic for the first nine months of the year to 64.5m passengers
Iran to link up electricity grid with Russia via Azerbaijan
Tehran, Iran-- Iran is linking up its electricity grids with Russia via Azerbaijan in order to make up for its...The Iranian minister said feasibility studies for connecting power grids have been conducted through three routes including Georgia, Azerbaijan, and Turkmenistan
He said the use of electricity in Iran’s industrial sector has exceeded that of the household sector for the first time in the history of the country’s power industry
Snapchat to add in-app Amazon shopping
In-app shopping will be available for select products advertised on Snapchat and sold at Amazon, the spokesperson added. People will...Snapchat-parent Snap shares shot up more than 7 percent on the news, ending the formal trading day at $12.15 per share
Snap and Amazon last year unveiled a collaboration that let Snapchat users "try on" eyeglasses using AR then buy those they liked at Amazon
AD Ports net profit up
It posted a 189% jump in revenue in Q3 to US$1.15bn.Its EBITDA rose by 28% YoY to $207 million during the third quarter, largely supported by the acquisition of Noatum and Karachi Gateway Terminal
The company said that the negative net operating cash flows of $158 million were impacted by a temporary deterioration in working capital
Google warns against downloading its AI model from external sources
Washington, US--Google has warned users against trying to obtain its Cold generative artificial intelligence (AI) model from external sources currently...According to Google the download delivers malware to victims, stealing sensitive data and starts from a user's social media accounts
The company is working on Bard tools to integrate them into many of the different services it provides from search engine to Pixel phones
Black Friday is a $74bn opportunity for MENA retail. But is it losing sheen by ‘blindly copying’ the West?
The expected injection of billions of dollars into the retail business through sale of varied items can turn out to...In 2021, Black Friday sales notched up $61 billion, followed by a further upswing in sales to $70 billion in 2022, and this year sales are expected to cross the figure
According to several experts, the annual event continues to draw consumers across the GCC, with nearly 85 percent of them expected to participate in Black Friday
Black Friday is a $74bn opportunity for MENA retail. But is it losing sheen by ‘blindly copying’ the West?
The expected injection of billions of dollars into the retail business through sale of varied items can turn out to...In 2021, Black Friday sales notched up $61 billion, followed by a further upswing in sales to $70 billion in 2022, and this year sales are expected to cross the figure
According to several experts, the annual event continues to draw consumers across the GCC, with nearly 85 percent of them expected to participate in Black Friday
EgyptAir orders 10 Airbus A350 planes in $3.2bn deal at Dubai Airshow
The transaction is worth $3.2 billion, reports say.Airbus commercial director Christian Scherer told a news conference the deal marked "an important milestone" in the "long and successful partnership" with EgyptAir
Airbus, which on Monday announced an order for 30 A220-300s from Latvian budget carrier airBaltic, has been overshadowed by US rival Boeing at this year's Dubai Airshow
UAE’s Tawazun Council signs deals worth $1.27bn at Dubai Airshow
Dubai, UAE - UAE's Tawazun Council, an independent government entity that works closely with the Ministry of Defense and security...Four contracts were signed by Tawazun Council on behalf of the Ministry of Defense with local companies, totaling AED 2.7 billion ($740m)
A contract was signed with “Air Dynamics Solutions” to provide Technical Support and Purchase of Spare Parts and Repair of Aircrafts.
