Dar Alarkan 2024 profit up 32%
The company's net profit increased by 81.5 percent in Q4 2024.Company News Business
Nvidia showcases AI chips as it shrugs off DeepSeek
San Francisco, United States - Nvidia chief Jensen Huang is expected to showcase cutting-edge chips for artificial intelligence (AI) and...Business
Al Etihad Payments partners with NIPL to develop UAE Domestic Card Scheme
ABU DHABI, UAE – Al Etihad Payments (AEP), a wholly-owned subsidiary of the Central Bank of the UAE (CBUAE), and...To be launched in early 2024, the card scheme will aim to facilitate the growth of e-commerce and digital transactions in the UAE.
It will bolster financial inclusion, support the nation’s digitization, increase alternative payment options and enhance the UAE’s competitiveness.
Saudi Arabia launches mechanism to advance global climate goals
RIYADH, SAUDI ARABIA - The Clean Development Mechanism Designated National Authority (CDMDNA) announced on Monday the operation of Saudi Arabia's...Greenhouse Gas Crediting and Offsetting Mechanism will be accessible to all entities within the Kingdom.
This step reflects the Kingdom’s role in addressing climate challenges and enabling institutions to tackle their emissions.
eXtra net profit down 17%
The company reported a net profit of $70m for 9M period of 2023.The nine-month earnings were negatively impacted by higher interest rates, which led to finance cost rising by SAR 39.6 million year-on-year (YoY), Argaam reported.
The company recognized non-recurring losses of SAR 38 million as it discontinued its expansion plans in Egypt.
Bristol Myers to buy Mirati
The US firm will pay US$4.8bn to acquire cancer drugmaker.The companies said in a joint statement that Bristol Myers Squibb will pay $58 per share in cash "for a total equity value of $4.8 billion"
The statement added that with the acquisition Bristol Myers Squibb will add KRAZATI, an important lung cancer medicine, to its commercial portfolio
GCC’s digital leadership puts focus on cybersecurity
As GCC leads in digital innovations, there's an urgent need for strong cybersecurity to combat increasingly complex threats targeting governments,...As GCC leads in digital innovations, there's an urgent need for strong cybersecurity to combat increasingly complex threats targeting governments, businesses, and individuals
Emad Fahmy of NETSCOUT sheds light on the evolving cyber threats and the importance of a holistic approach to digital transformation, advising ways to safeguard digital frontiers
Dubai at top global ranking for attracting Greenfield FDI projects in H1 2023
DUBAI, UAE - Dubai remains the top global destination for attracting Greenfield Foreign Direct Investment (FDI) projects, with the emirate...During the first half of 2023, Dubai’s global share in the attraction of Greenfield FDI projects stood at 6.58 percent.
The results align the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy over the next decade.
EV infrastructure company launched
PIF will own 75% in the Electric Vehicle Infrastructure Company.It plans to establish presence in more than 1,000 locations, installing over 5,000 fast chargers by 2030 in cities across Saudi Arabia.
PIF said the new company aims to enhance Saudi Arabia’s automotive ecosystem, through collaboration with EV companies.
Saudi Arabia, India ink MoU on electrical interconnectivity, green hydrogen
RIYADH, SAUDI ARABIA - India and Saudi Arabia signed a Memorandum of Understanding (MoU) here in electrical interconnection, green/clean hydrogen,...The signing took place during the Middle East and North Africa Climate Week 2023 in Riyadh, Saudi Arabia.
The MoU was signed by Saudi Arabia’s Minister of Energy and India’s Minister of Power and New and Renewable Energy.
Saudi Arabia Railways launches hydrogen train tests
Riyadh, Saudi Arabia -- Saudi Arabia Railways (SAR) has announced the launch of hydrogen train tests in the Kingdom, following...The tests were launched following the signing of an agreement with the French company Alstom.
It will conduct operational tests and studies necessary to prepare this type of train to fit the Kingdom's environment.
Hotels in UAE generate revenues of US$7bn in first seven months, says minister
ABU DHABI, UAE - In the first seven months of the year, hotel establishments in the UAE generated revenues of...Hotel establishments in the country hosted 16 million guests in in the first seven months of 2023, said the UAE economy minister.
Some 56 million hotel nights have been booked while the occupancy rate reached 75 percent from January to July.
