Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...Business Economy
Social media platform X to shutter local operations in Brazil
Social media platform X, formerly Twitter, will shutter its local operations in Brazil following a bitter legal tussle over the...Business
EDGE acquires 52% of ANAVIA
ANAVIA focuses on developing unmanned helicopters.ANAVIA is a Switzerland-based company that specialises in versatile vertical take-off and landing systems of up to 750 kilograms.
ANAVIA’s unmanned helicopters can be adapted to EDGE's cross-complementary portfolio of air, land and maritime capabilities.
Saudi Arabia launches second phase of Visiting Investor Visa
RIYADH, SAUDI ARABIA – The Kingdom’s ministry of investment and ministry of foreign affairs launched the second phase of issuing...This service is offered to foreign investors as part of the Kingdom’s efforts to boost investment, consistent with Saudi Vision 2030.
The booking platform is affiliated with the Ministry of Investment “Invest Saudi,” through which the application will be processed.
GASCO 9M 2023 profit up 16%
Operating expenses and financing cost edged lower.GASCO noted an increase in revenue and financing income, along with higher share of results from associates.
In Q3 2023, net profit rose slightly by 0.4 percent to SAR 57.2 million from SAR 56.98 million in Q3 2022.
Ryanair profits soar
Its net profit is US$2.4bn in the six months to September end.Profit after tax came in at $2.4 billion in the six months to the end of September compared with 1.3 billion euros in the equivalent period one year earlier
Chief executive Michael O'Leary said the carrier's full-year outlook "remains highly dependent on the absence of any unforeseen adverse events
Luberef’s 9M profit up 2%
The company's third-quarter net profit dropped 28 percent.The nine-month profit was spurred by lower Zakat and income tax expenses, as Luberef has become subject to tax after listing its shares, Argaam reported.
Luberef’s bottom line dropped 25.2 percent quarter-on-quarter (QoQ) from SAR 454.86 million in Q2 2023, hurt by lower base oil crack margins, according to Argaam.
Sharjah looks to boost economic, investment ties with Uganda and Kenya
Sharjah, UAE-- The emirate of Sharjah is seeking to boost economic and investment cooperation with Uganda and Kenya.In this connection,...In order to boost trade with Uganda and Kenya, the Sharjah Chamber of Commerce and Industry (SCCI) will dispatch a trade mission to the African countries
The trade mission will explore ways to enhance development and foster stronger ties as part of the chamber's commitment to supporting the local business community
Saudi Coffee Company launches its first model farm in Jazan
Riyadh, Saudi Arabia - Saudi Coffee Company, a wholly owned subsidiary of the Kingdom’s Public Investment Fund, on Sunday announced...The farm is a cornerstone of Saudi Coffee Company’s plans to increase the coffee production capacity from 300 to 2,500 tons annually in 2023
Over the next ten years, the Saudi Coffee Company intends to invest nearly SAR 1.2 billion ($320 million) to meet its export goals
Global AI economy will reach over $32 trillion by 2027
The emergence of AI-managed portfolios marks a notable change in the investment realm. Success in this evolving landscape will require...AI-driven portfolio management systems are challenging traditional investment methods.
The future of investment may lie in a hybrid approach, combining AI with human insight.
Qatar’s business conditions continue to improve in October
DOHA, QATAR – Qatar's non-energy private sector continued to experience improving business conditions at the start of the final quarter of...Output, new orders and employment all expanded in October, and the 12-month outlook remained upbeat.
Profitability improved as firms raised their prices for goods and services at the fastest rate since February.
FGCC Chambers to hold GCC-Egyptian Business Forum in Saudi Arabia
AL-KHOBAR, SAUDI ARABIA - The Federation of Egyptian Chambers of Commerce (FEDCOC) is scheduled to host the first Gulf-Egyptian Business...The forum will address the most important economic and commercial issues.
Gulf and Egyptian officials and entrepreneurs are slated to attend the forum.
