Chinese electric car maker BYD aims for Europe boost
Chinese carmaker BYD on Thursday vowed to conquer Europe with a new compact electric model and super-fast charging capability to...Business
ADNOC Drilling approves $788m dividend
The final cash dividend of $394m for 2024 was approved at the AGM.Company News Business
Delta posts Q3 profits of $1.1b
The company’s revenues rose 11 percent to $15.5 billion.Delta and other US carriers have pointed to pent-up travel demand as a driver of strong results in recent quarters.
The company described overall demand as "strong," domestic demand as "steady" and international strength as "extending through fall."
Red Sea Global launches Saudi’s first seaplane company
TABUK, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations -...Fly Red Sea aims to transport guests to various resorts scattered among the islands of Red Sea Destination.
These resorts include St. Regis Red Sea Resort and Nujuma, Ritz Carlton Reserve, which would be inaugurated later in 2023
Dollar sukuk activity for 2023 on course to outpace 2022: Fitch
Dubai, UAE: US dollar sukuk issuance for 2023 is on course to outpace 2022 due to funding needs and diversification strategies,...The third quarter sukuk issuance in all currencies ($51.7 billion equivalent) issued in core markets was 12.3 percent lower YoY, while bond issuance fell by 17 percent YoY.
Global outstanding sukuk expanded by 9.8 percent YoY to $823.4 billion at the end of third quarter, with the largest shares in Malaysia (40 percent).
Real estate trading volume in Qatar exceeds US$88m in week
DOHA, QATAR - The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...Total sales contracts for residential units in the Real Estate Bulletin for the same period is US$19.7 million.
A weekly bulletin shows that the list of real estate properties traded for sale included vacant lands, houses, hotel.
Container traffic rises 11.66 percent in September, says Mawani
RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) reported an 11.66 percent surge in container traffic across its trade...Passenger traffic jumped 79.29 percent over the preceding year’s figure of 40,679 passengers to hit 72,934 passengers in 2023.
Mawani’s ports saw 11.83 percent additional vessels dock at its berths with a tally of 1,040 ships contrary to last year’s 930 ships.
Qatar signs joint cooperation agreements with IMF on SDRs
Dubai, UAE - Qatar has signed two agreements with the International Monetary Fund (IMF) on its contributions towards IMF's poverty...Under one of the agreements, Qatar's contribution will be a loan from the special drawing rights account, a soft loan (an implicit contribution to the aid).
Under the Resilience and Sustainability Trust fund agreement, contributions will be in the form of subscription packages consisting of loans, deposits and reserves.
EasyJet, Airbus sign US$20bn deal
The no-frills airline will buy 157 aircraft from Airbus.The airline on Thursday said it had "entered into conditional arrangements" with European planemaker Airbus for 157 aircraft
Together the deal was worth $19.9 billion and "will deliver lower fuel burn, CO2 emissions and operating costs per seat", EasyJet said
Jarir’s 9M profit down marginally
The fall was attributed to an increase in non-operating expenses.The third-quarter net profit rose by 8 percent to SAR 296.3 million, from SAR 273.72 million in Q3 2022, driven by a 4.8 percent rise YoY in sales.
Total shareholders’ equity, no minority interest, stood at SAR 1.79 billion as of Sept. 30, 2023, down from SAR 1.80 billion a year earlier.
Edge signs deal with Saha Istanbul
It will deepen cooperation between the UAE and Turkey.The event being held at the Ankara Congress Centre will also facilitate several introductory and exploratory meetings between Edge and Turkish companies
Chairman of Edge said that the alliance with Saha Istanbul and its member firms will enable Edge to tap into Turkey's rich ecosystem and robust supply chain
Pro-business policies make UAE global investment hub
"While the world has abundant funds, there's a need for innovative strategies to channel them into vital sectors like sustainable...Rebeca Grynspan, Secretary-General of UNCTAD, lauds the UAE as a leading global investment destination
With the upcoming World Investment Forum in Abu Dhabi, the focus sharpens on sustainable investment
