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
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.
Sulaiman Al Habib 9M profit $405m
The Group reported a nearly 16% year-on-year rise in revenues.The higher revenues were driven the hospital and pharmacy segments, due to the increase in the number of patients and inpatients occupancy.
In Q3 2023, the net profit climbed 30 percent to SAR 544.8 million from SAR 420.6 million in Q3 2022.
Lebanon court orders ex-car boss Ghosn out of Beirut home
Ghosn and his wife must "vacate the property... within a month", according to a copy of the decision seen by...Ghosn, who took up residency in the Beirut property after fleeing prosecution Japan in 2019, appealed the ruling on Friday, the Judicial official said
Phoinos initiated the legal action in 2019 and has accused Ghosn of "trespassing on private property and living in the home without legal basis", the official added
Iran, Russia to invest $38bn in developing INSTC
TEHRAN, IRAN – The Iranian head of Solyanka Port in Russia said that the International North-South Transport Corridor (INSTC) is a...The Iranian head of Solyanka Port spoke of the measures taken by the Islamic Republic of Iran Shipping Line (IRISL ) to develop the INSTC route.
The IRISL group purchased 30 rail wagons, 5,400 containers and ordered the construction of 21 equipped vessels for strengthening maritime routes.
Mubadala issues its first-ever Green Bond for $750m
Abu Dhabi, UAE - Mubadala has issued its first-ever Green Bond for US$750 million with a tenor of 10.5 years,...The order books peaked at more than $6 billion with robust demand from local, European, Asian, and American accounts
The transaction further diversified Mubadala’s debt investors base by bringing in new investors, as a large proportion of demand came from new investors
Durar launches ‘MASA Residences’ in Ras Al Khaimah worth US$190.58m
RAS AL KHAIMAH -- Durar, a prominent UAE real estate developer, is set to launch MASA Residences, a luxury residential...Christie’s International Real Estate Ras Al Khaimah will exclusively handle sales and marketing for the development
The project marks Durar's entrance into the UAE's northern Emirates and is poised to elevate Al Marjan Island's landscape
Oil prices surge 3 percent amid Middle East tensions
New York, United States - Oil prices experienced a 3% surge on Friday, reaching a one-week high, driven by escalating...Brent crude futures increased by $2.55, or 2.9%, settling at $90.48 a barrel, while US West Texas Intermediate (WTI) crude saw a rise of $2.33, or 2.8%, closing at $85.54
The widening gap between Brent and WTI prices, reaching its highest level since March, is making it more enticing for energy firms to export crude from the U.S.
Chevron Q3 profit falls
Its earnings fell to US$6.5bn, down from $11.2bn last year.Its earnings have dropped from record year-ago levels as crude prices eased and higher costs ate up refining and chemical profits
The company agreed to buy U.S. rival Hess Corp for $53 billion in an all-stock deal that expands its shale and deepwater oil production
