No peak oil demand ‘on the horizon’, phaseout a ‘fantasy’: OPEC
Paris, France - OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would...Business
Countries where the X social network is banned and why
Paris, France - With its ban of X, which went into effect on Saturday, Brazil joins a small club of countries...Business
EasyLease Q3 revenue $57.66m
It's net profit was AED 26.5 million ($7.21m) in Q3 2023.it's net profit was AED 26.5 million ($7.21m) in Q3 2023, compared to AED 32.73 million ($8.91m) YoY over Q3 2022.
Cost-effectiveness, exceptional maneuverability and expedited travel, are driving the popularity of two-wheelers in the UAE.
Mawani, SGP ink US$266m pact
The aim is to establish multiple logistics zones in the Kingdom.The objective is to establish logistics zones that will enhance efficiency of the sector, improve service quality and generate additional job opportunities.
This initiative is expected to strengthen the role of the logistics sector in supporting the national economy.
World Investment Forum 2023 ends with call for greater private and public investment
Abu Dhabi, UAE – UNCTAD's 8th World Investment Forum came to a close on Friday in Abu Dhabi with a...The week-long event saw the convergence of 8,000 participants, including government officials, international organizations, policymakers, 700 CEOs and investors
Held against the backdrop of a fragmented global economy, the forum addressed the profound impact on global trade and investment
Volkswagen revenue up
The automaker made sales to the tune of US$83.5bn in Q3.The automaker's operating profit for the quarter also increased, to around $5.19 billion, on an operating margin of 6.2 percent.
The company's sales saw a 20-percent jump in Western Europe, delivering 2.34 million vehicles over the July-September period
Palms Sports posts Q3 profit
Its revenues rose 77% to US$92m in the same period.The company's revenue from contracts climbed 77% in Q3, surging from $58.43 million to $92 million
Its CEO and MD Fouad Darwish said they expect Q4 to "a healthy growth year for Palms Sports"
KSA, Kuwait lead as Islamic banking prospers in GCC
With the support of Vision 2030 projects and a surge in real estate lending, the banking sector's performance in the...With the support of Vision 2030 projects and a surge in real estate lending, the banking sector's performance in the Gulf region has been commendable, says a report
Despite challenges such as intricate transactions and the demand for universal standards, the potential of financial technology and green financing is immense, it adds
Lebanon national carrier halves flights amid fears of Israel war
BEIRUT, LEBANON - Lebanon's national carrier on Friday said it was cutting more than half of its flights as tensions along...Only eight of the Middle East Airlines company’s 22 planes would operate as of next week, with the rest of the fleet relocated to other airports.
Other airlines, including Swiss International Air Lines and Germany's Lufthansa have already temporarily suspended Beirut flights,
DCT signs MoU with Microsoft to transform Abu Dhabi tourism
Dubai, UAE -- The Department of Culture and Tourism - Abu Dhabi (DCT Abu Dhabi) and Microsoft have signed an...Activities under the MoU will also drive growth, foster innovation and enhance knowledge among DCT Abu Dhabi employees.
The MoU spans across the optimization, automation, and modernization of IT and security infrastructure and will be enabled by Microsoft’s cloud computing platform Azure.
Air Arabia launches non-stop flights between UAE’s Sharjah, Egypt’s Giza
SHARJAH/ ABU DHABI, UAE - Air Arabia announced the launch of a new route operating between Sharjah and Giza city...The non-stop flights will connect Sharjah International Airport with Giza and will have a frequency of five weekly flights.
British Airways announced that it will launch daily flights from London to Abu Dhabi next year.
MAWANI and SGP sign $266m contract
They will establish a logistics zone in King AbdulazizThe zone will provide major logistics services, unique solutions, integrated services, and environmental systems, including warehouses and yards.
It will also include a warehouse and re-export area to provide sorting, regional distribution, and value-added operations.
