The New Travel Mindset: Local Living and Smarter Tech
From immersive local experiences to AI-powered personalization, Muzzammil Ahussain, CEO of Almosafer, shares key trends shaping the future of travel.Business Profile & Interviews Tourism
US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...Business Economy
Shell reports rise in profits
The company announces a buyback of shares worth $3.5bn."Shell delivered another quarter of strong operational and financial performance," chief executive Wael Sawan said
Over the first nine months of 2023 Shell's profit was down sharply, reflecting lower oil prices year-on-year
ADX partners with HSBC to develop digital assets
Abu Dhabi, UAE - Abu Dhabi Securities Exchange (ADX) and HSBC Bank Middle East Limited are working together in the...The initiative leverages the investment product knowledge of ADX, and HSBC’s investment banking, capital markets and blockchain capabilities.
Digital bonds are financial instruments that are created and managed using blockchain and smart contract technology to create efficiencies in capital markets
ACWA Power 9M net profit up 22%
The company said higher operating income was the main driver.The company said it recorded SAR 814 million in operating income—before impairment, loss and other expenses—in the third quarter of 2023.
Operating income for the first nine months of 2023 reached SAR 2.10 billion, growing by 12.4 percent, compared to the same period last year.
DEWA discusses cooperation in renewable energy with German delegation
Dubai, UAE-- Dubai Electricity and Water Authority (DEWA) has held discussions with a delegation from Germany on how to boost...DEWA's CEO emphasized the importance of strengthening strategic cooperation with German enterprises in water, renewable, and clean energy
The delegation applauded the UAE's leading role in dealing with climate change and promoting a sustainable, safe, and healthy environment
SABIC 9M net loss $277m
The company had posted a net profit of $4.32bn in 9M 2022.In the third quarter period, the petrochemicals giant swung to a net loss of SAR 2.9 billion, against a net profit of SAR 1.84 billion in Q3 2022, Argaam reported.
SABIC cited stagnation in global demand for chemicals, which weighed on average selling prices, and led sales value to drop by SAR 7.3 billion year-on-year (YoY).
‘Business-based peace initiatives to ease tensions’
The Ukraine-Russia conflict and Gaza crisis are impacting investor confidence and economies in Jordan, Egypt, and Israel, Iyad Malas, CEO...The Ukraine-Russia conflict and Gaza crisis are impacting investor confidence and economies in Jordan, Egypt, and Israel, Iyad Malas, CEO of Al Ghurair Group, tells TRENDS.
Iyad Malas highlights the need for digital transformation and the importance of public-private partnerships in digital investments, notably in infrastructure and healthcare.
Iran ramps up oil production to 3.4m bpd, up from 2.9m bpd
Tehran, Iran-- Iran has ramped up its oil production to 3.4 million barrels per day (bpd), up from about 2.9...Iran's oil minister said the boost in the production is in line with measures taken by the current government of the Islamic republic
According to officials in the oil sector, about 40,000 bpd have been added to the country’s oil production from the Sepehr and Jafir oilfields
Disney to buy stake in Hulu
It will acquire Comcast's US$8.6 billion stake in Hulu.The acquisition will "further Disney's streaming objectives," the company said in a press release
The deal values Hulu at $27.5 billion in total, and the transaction will be concluded by December 1
Middle East conflict alters regional energy dynamics
Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact...Chevron's Tamar gas field halt, rising global oil prices, and jeopardized gas supplies to Egypt and Jordan underscore the impact of geopolitics on energy security.
Achieving peace in the Middle East region is crucial, not just for the well-being of its people but also for maintaining global economic stability and energy security.
Drought forces Panama Canal operator to cut ship traffic
Panama City, Panama - The operator of the Panama Canal, the passageway for cargo ships between the Atlantic and Pacific oceans,...Traffic will be reduced to 25 ships a day from Friday, down from 29, and will drop to 18 ships a day by February, the Panama Canal Authority said
The 50-mile (80-kilometer) long waterway provides direct access between the Atlantic and Pacific oceans, bypassing the South American continent
