Luberef net profit falls 7% in Q1
A fall in by-products sales leads to profit dip.Company News Business
Loyalty Lost: How brands need to adapt to the modern traveler
Dubai, UAE: As 2025 unfolds, travel brands are facing a significant challenge: customer loyalty. Traditional rewards programmes, often based on points systems,...Business
The Arab Open Banking market to grow by 25% annually over next 5 years: report
Dubai, UAE - The Arab Open Banking is expected to experience 25% annual growth over the next five years, a...The Arab Monetary Fund will support Arab central banks in adopting effective frameworks for Open Banking and Finance initiatives
The report covers aspects such as data sharing, consent mechanisms, data security, identification of regulated Third Party Providers
ADCB profit up 22 percent
The bank's operating income rose 23% to US$3.32 billion.The bank said that net interest income rose 8% to $865 million QoQ and 24% YoY while non-interest income of $285 million declined 7% QoQ
Its CEO said the bank delivered strong growth in the first nine months of the year, with net loan climbing by10% i and sound growth in CASA deposits
Boeing posts Q3 loss
The firm trims full-year forecast for deliveries of the 737.The US aviation giant, which has struggled with manufacturing and quality control issues in recent years, reported a third-quarter loss of $1.6 billion
The latest issue with the 737 is the result of misshapen holes drilled in a part of the fuselage that helps maintain plane pressure.
UAE banks’ investments hit record high in Aug to reach $159bn
Abu Dhabi, UAE -- UAE banks' investments surpassed AED 580 billion, hitting a record high in August 2023, according to...Banks investments also increased by AED 58 billion or 11 percent year-to-date compared to AED 527.4 billion at the end of 2022.
Bonds held until maturity accounted for the largest share of bank investments at 47 percent, reaching AED 276 billion at the end of August 2023.
Thuraya, nybl sign MoU
They will deploy AI in Thuraya and Yahsat satellitesnybl provides various AI and ML sector-specific modules, including Oil and Gas, Security and Surveillance, with robust support for ESG.
Under the MoU, both parties will focus on testing, certifying, and enabling the nybl platform over Thuraya and Yahsat satellites.
Alphabet and Microsoft see earnings rise on AI-infused cloud
Tech giant Microsoft said Tuesday its profits rose in the latest quarter, boosted by its strength in the closely watched...Microsoft saw its shares rise more than 3 percent to $341.11 on earnings that underscored the momentum of its cloud business
Alphabet reported a quarterly profit of $19.7 billion, powered by money taken in from ads, YouTube, and cloud services
Deutsche Bank profit down
Its net profit for the third quarter dropped to US$1.09bn.The bank launched a new effort earlier this year to cut costs and focus on its core strengths
Its chief executive said the bank has "materially improved capital outlook" thanks to strong results
Investcorp to float IPO
The listing of shares on ADX is set for November 17.According to the company, the subscription will be open from November 2 to November 9, 2023
It plans to offer 321,500,000 new shares while 321,500,000 shares will be sold by selling shareholder, Investcorp S.A
UAE-Zimbabwe trade touches US$2bn, poised to expand more
Abu Dhabi, UAE-- Trade between the UAE and Zimbabwe touched $2 billion last year as the bilateral relations between the...The UAE is Zimbabwe's second-largest trading partner and the relations between the two countries are poised to grow further
Zimbabwe's ambassador to the UAE said that both countries are working to develop a number of sectors, like mining, and energy
Saudi industrial construction potential game-changer
The Kingdom is gearing up for a massive investment in industrial and mega projects, with plans to allocate $180 billion...The Kingdom is gearing up for a massive investment in industrial and mega projects, with plans to allocate $180 billion annually from 2025 to 2028, says a latest report.
With projects like the high-tech NEOM city in the pipeline, the Kingdom is set on diversifying its economy and establishing itself as a leading tourist destination.
