Stock markets rise on fresh hopes for Trump’s tariff approach
Investor sentiment has been jolted in recent weeks by fears that the president's hardball policies could deal a painful blow...Business Economy
Perplexity eyes TikTok buy
TikTok faces a deadline to divest from its Chinese owner or be banned in the US.Company News Business
Nearly 5,000 member companies join Sharjah Chamber in 2023
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has logged an impressive surge in new memberships this...The Chamber’s main branch and its other branches in Al Dhaid, Khor Fakkan, Dibba Al-Hisn, and Kalba now boast 45,373 active members.
The total export and re-export values of the members of the Sharjah Chamber reached US$4.6 billion through the third quarter of the current year.
DP World, TPA ink pact
DP World will operate Dar Es Salaam Port in Tanzania.The main aim is of optimizing the port’s operations to improve transport and logistics services throughout Tanzania and its hinterland.
The port will connect to the hinterland of sub-Saharan Africa through a network of roads, highways, railways and dedicated freight corridors.
New CEO appointed in SRC
Majeed Al Abduljabbar will be the CEO from January 1, 2024.Al Abduljabbar has been working in the banking sector for over 15 years, including in the HSBC Bank in London.
He also contributed to establishing the Department of Innovative Investment Solutions at SABB (now SAB).
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.
