UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn
Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...Business Economy
Norway nears 100% goal of all-electric cars
By comparison, the share of electric cars in Europe was just 13.6 percent in the full-year 2024, a decline for...Technology Business Energy
Mobily 9M 2023 profit up 41%
Revenues for the period grew by 7.5 percent year-on-year.Higher top line pushed gross profit up 3.4 percent YoY to SAR 7.1 billion. Operating profit jumped 31.6 percent YoY to SAR 1.97 billion.
Reflecting the increase in interest rate, finance charges for the current period increased by 22 percent YoY to SAR 510 million.
Dubai’s top 10 land deals in 2023 is worth US$2.3bn
DUBAI, UAE – A real estate brokerage based here has compiled the 10 largest land deals in the Emirate since...The recovery in land sales reflects developers’ efforts to acquire the best plots for launching real estate and commercial projects.
Several sale deals in Dubai focus on investors’ desire to buy land for investment purposes and get high returns as prices continue to rise.
Emaar EC and Orascom to develop tourism destination
Dubai, UAE -- Emaar, The Economic City, the master-developer of King Abdullah Economic City (KAEC), has signed a strategic agreement...Orascom will be the main investor to develop a world-class mix-use tourism city across a mega-parcel of 9.5 million square meters.
The project will feature a marina, a fully-fledged downtown along with resorts, high-end residential developments.
Multiply Group profit soars
Its Q3 revenue posted a 24 percent jump to US$96 million.The group posted a 337 percent increase in net profit, excluding fair value changes, to $90.12 million for Q3 2023
It acquired a 55% majority stake in Media 247, a leading UAE outdoor advertising firm, at an investment of $61.26 million
Navigating the complex landscape of cyber insurance
The cyber insurance industry will persistently evolve as the threat landscape expands. As the criteria for insurability rise, enterprises shouldn't...Due to escalating cybercrime, insurance premiums have surged, with 85% of organizations falling victim to ransomware attacks in 2022 alone.
Insurance is a part of a broader digital resilience strategy, and businesses confront a 'reality gap' between perceived and actual data protection levels.
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"
