Durov: Father of 100 children is a mysterious and controversial Telegram founder
Paris, France - Russian-born tech entrepreneur Pavel Durov has founded wildly popular social networks, cryptocurrencies, amassed a multi-billion-dollar fortune and locked...Business
Telegram chief Pavel Durov arrested at French airport: officials
Paris, France - French police arrested Telegram chief executive Pavel Durov on Saturday at an airport near Paris for alleged offences...Business
Al Ansari 9M profit US$105m
The operating income of the group rose to US$234 million.Al Ansari received shareholders’ approval for the proposed interim dividend payment of $81 million.
The second payment of the dividend of an equivalent amount will be disbursed in April 2024.
Emirates Group H1 net profit $2.7bn
The profit was 138% higher than the $1.2 billion in H1 2022.Group revenue was AED67.3 billion ($18.3 billion) for the first six months of 2023-24, up 20 percent from AED56.3 billion ($15.3 billion) last year.
Overall profit for dnata is AED709 million ($193 million), compared to the same period last year's AED236 million ($64 million).
Saudi Arabia’s Industrial Production Index falls 11.2% in September
RIYADH, SAUDI ARABIA – The Kingdom of Saudi Arabia’s Industrial Production Index (IPI) fell by 11.2 percent year-on-year (YoY) in...The IPI measures the relative change and reflects the production quantities of materials and goods.
Data issued by the General Authority for Statistics showed that Saudi IPI fell to 122.99 points in September.
ADIB issues green sukuk
The final orderbook of the green sukuk closed at $2.6 billion.The issuance was met with exceptional demand, attracting interest from over 100 global and regional investors.
ADIB intends to allocate an amount equal to the net proceeds of this issuance to fund eligible green projects.
Sony hikes annual sales outlook
The company net profit for July-September sank 29 percentSony saw net profit hitting $5.8 billion in the year to March 2024, up from the previous projection of 860 billion yen
Annual sales were seen at 12.4 trillion yen, compared with a previous estimate of 12.2 trillion yen
Dana Gas 9M net profit $126m
Profitability dropped 22% due to lower realized prices.The decline in profitability was also due to additional discounts on condensate sales in the Kurdistan Region of Iraq (KRI).
The Company’s revenue for the first nine months of the year decreased 21 percent to AED 1,195 million ($326mm).
Disney adds 7m subscribers
The bump in subscription came amid its cost-cutting campaign.Its clients rose to 112.6 million at the end of September from 105.7 million at the end of June
Netflix, Disney's rival, last month said subscriber numbers grew nearly 11 percent to 247 million
Amlak Q3 net profit AED $73m
Amlak's total income for the third quarter decreased by 19%.Revenues from financing business decreased by 10 percent to AED 90 million during Q3 2023 as compared to AED 100 million in Q3 2022.
The company recorded a net gain of AED 174 million on debt settlement arrangements and was able to reduce its debt burden by AED 531 million.
Export Bahrain and Alibaba sign MoU to boost global trade
Manama, Bahrain--Export Bahrain and Alibaba.com have signed a memorandum of understanding (MoU) to boost global trade and economic growth in...The agreement signed during the 6th China International Import Exhibition held in Shanghai will enable Export Bahrain and Alibaba.com to leverage their respective strengths
The collaboration between the two entities will enable the Chinese giant to train and support Bahraini suppliers in utilizing e-commerce platforms effectively
Middle East companies moving towards cloud adoption
Adoption is driven by government initiatives, global cloud providers, and the need for agility and scalability in the region.68% of Middle East companies want to migrate their operations to the cloud within the next two years
To fund these initiatives, 76% of companies intend to increase their cloud budget over the coming year
