Stocks mostly rise, oil falls as Trump fans Ukraine peace hopes
London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the...Business Economy
Altman rejects Musk’s US$97.4 billion bid to buy OpenAI, as feud continues
After receiving backing from his OpenAI board, Sam Altman informed an Elon Musk-led group of investors that sought to buy...Business
Mulk, Ajman Holding form JV
Collaboration in the T10 Cricket League key element of the JV.The joint venture will also promote the Alubond range of products, Mulk International’s premier brand and the world’s largest metal composite panel manufacturer.
Mulk International, has production facilities of Alubond and operations in Asia, Europe, Africa and the Middle East with a sales network of more than 100 countries.
Borouge Q3 net profit up 22%
The rise in net profit was driven by 16% increase in sales.The company has committed a dividend of $1.3 billion (15.9 fils per share) for the 2023 financial year, which equates to a 6.3 percent current dividend yield.
Third-quarter revenue increased 6 percent quarter-on-quarter, reaching $1.5 billion, and declined 11 percent year-on-year. On a year-on-year basis, net profit declined by 9 percent
Saudi Ministry of Investment and Agility sign MoU to boost healthcare sector
Riyadh, Saudi Arabia-- Saudi Arabia and Agility have signed a memorandum of understanding (MoU) to introduce cutting-edge health technology and...The agreement includes the potential to widen digital health services and localizing the supply chain for innovative new medical technologies
The MoU looks to widen people's access to preventative health services to combat chronic diseases such as cardiovascular disease and breast cancer
HSBC Q3 profit up
Its pre-tax profit more than doubled to US$7.7bn.The banking giant reported third-quarter revenue grew 40 percent to $16.2 billion
It announced a new $3bn share buyback program, after two similar initiatives this year
‘ESG, AI and robotics remain FII’s investment focus’
FII Institute remains committed to innovative and sustainable technology investments, Anthony Berkley, ACT Director and Head of Investments, tells TRENDS.FII Institute remains committed to innovative and sustainable technology investments, Anthony Berkley, ACT Director and Head of Investments, tells TRENDS.
Its portfolio includes pioneering firms in AI and robotics, reflecting a focus on impactful solutions in critical areas like sustainability, health, and education.
Hamriyah Freezone and Amazon UAE sign lease agreement for new logistics center
Sharjah, UAE--Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics centre which will...The agreement supports Amazon UAE’s commitment to investing across the country in order to shore up economic growth and innovation
The freezone's infrastructure and location together with Amazon's technology are expected to boost customer convenience and reliability
Saudi Exchange to launch Single Stock Options contracts
Riyadh, Saudi Arabia – The Saudi Exchange on Sunday announced its intention to launch the Single Stock Options (SSOs) contracts,...SSOs contracts will be available to trade on 27 November 2023, enabling local and international investors to hedge and manage portfolio risks effectively
The contracts will be cleared and settled by the Securities Clearing Center Company (Muqassa) in line with international best practices
Arab Bank posts net profit
It posted a profit of $630 million in January-September 2023.The Group maintained its strong capital base with a total equity of $10.8 billion.
Excluding the impact of devaluation of several currencies against the US dollar, loans grew by 4 percent.
Hamriyah Freezone Authority, Amazon UAE ink pact for logistics center
SHARJAH, UAE - Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics center...Once launched, the new center will enable a seamless delivery experience across the Northern Emirates.
HFZA’s location and over 20 years of Amazon’s technology and operational expertise will enhance convenience for customer orders.
Elm net profit up 43%
The profit growth was driven by 27% revenue increase.The rise in revenue resulted from a surge in digital business revenue by 42.70 percent.
The third-quarter net profit grew 22.2 percent to SAR 334 million, from SAR 273.36 million in Q3 2022.
