Saudi Aramco says foreigners grab ‘majority’ of share offering
Riyadh, Saudi Arabia - Oil giant Saudi Aramco said Sunday that international investors had snatched up the bulk of shares sold...Business
Airlines expect over $30 bn in profits and passengers to hit nearly five billion in 2024: IATA
The International Air Transport Association (IATA) announced strengthened profitability projections for airlines in 2024 compared with its June and December...Business
Foxconn reports 11% rise in profit
Foxconn is China's largest private-sector employer.Foxconn said net profit for July-September rose to Tw$43.1 billion (US$1.3 billion) from Tw$38.8 billion in the same period last year
Tuesday's results follow consecutive quarterly profit misses - with January-March seeing a drop of 56 percent and a one percent fall in next three months
Emirates to build advanced $950m engineering facility at DWC
Dubai, UAE -- Emirates has unveiled a plans to build a $950 million cutting-edge engineering facility at Dubai World Central...Spanning 1 million square meters, the engineering complex is set to become the most extensive and advanced facility of its kind operated by any airline globally.
Tailored to meet the evolving needs of Emirates' aircraft fleet through the 2040s, the facility is expected to provide support for the airline's operations.
Denmark, Netherlands top destinations for remote working: Report
Davos, Switzerland -- Denmark, the Netherlands, and Germany have emerged as the leading countries for remote working, offering the best...The Global Remote Work Index, which evaluates 108 countries, is a crucial tool for remote workers seeking the best destinations for their work.
A WEF report, which surveyed over 800 companies employing more than 11 million workers, highlights remote working as a significant trend.
ACWA Power, SEC sign PPAs
The agreements signed with SPPC are valued at $3.9 billion.The agreement, signed on November 13, pertains to the development, financing, construction, ownership, and operation of two expansive combined cycle gas turbines power plants.
Named Taiba 1 and Qassim 1, these mega-projects are strategically situated in Madinah and Qassim, with a production capacity of 1,800 megawatts (MW) each.
1962 Ferrari auctioned for $51.7 m in New York: Sotheby’s
Dating from 1962, the legendary Scuderia sports car -- chassis 3765, four-liter engine developing 390 horsepower -- had finished second...The bright red roadster had been the property of an American collector for the past 38 years
The 250 GTO went on sale Monday evening after a few minutes of bidding in the auction room
Jet fuel sales to reach over billion gallons by end of 2023: ENOC
Dubai, UAE--ENOC Group will reach more than one billion gallons of jet fuel sales at the end of this year...The company in line with its long-term strategy intends to supply Sustainable Aviation Fuel (SAF) to Dubai Airports in 2024
The company plans to enhance sales volume globally, apart from seeking potential acquisitions, partnerships, and greenfield projects
Salman Khan’s ‘Tiger 3’ faces ban in Kuwait, Oman and Qatar
Dubai, UAE - The much-anticipated Hindi-language action film Tiger 3, starring Salman Khan and Katrina Kaif, has reportedly been banned...According to reports in Indian publications, concerns have been raised over the portrayal of Muslims in the film
Critics argue that the film perpetuates Islamophobic tropes, a sentiment that might have influenced the decision to ban it in these Gulf countries
Technological advances propel UAE’s payments industry
The sector's growth, driven by the transition to digital transactions and tech innovations, positions UAE as a leader in the...The sector's growth, driven by the transition to digital transactions and tech innovations, positions UAE as a leader in the evolving global payments landscape, says a report.
Moreover, the Gulf country's economic expansion and changing consumer preferences towards digital payments are also leading to continuous growth of the payment industry.
Turkish Airlines explore options of buying 355 Airbus jets
Istanbul, Turkey - Turkish Airlines, the country's flag carrier, confirmed on Monday that it was in talks with Airbus to buy...The airline said that negotiations are held with Airbus regarding the purchase of a total of 355 aircraft.
In September, Turkish Airlines revealed plans to purchase 10 additional Airbus A350-900 aircraft
Chemanol to buy stake in ACC
It will acquire 84 percent stake for US$12.3 million.The purchase amount would be disbursed partially and within specified intervals, as per the terms stipulated in the SPA.
Chemanol said the acquisition is aimed at enhancing its share in the market and diversifying its product range,
