Abu Dhabi Chamber and UAEIIC team up to boost investment
Abu Dhabi, UAE--The Abu Dhabi Chamber of Commerce and Industry has signed an agreement with the UAE International Investors Council...Business
Lapita sees surge in leisure and wedding bookings in 2023
Dubai, UAE--Lapita, Dubai Parks and Resorts, has reported a surge in demand, bookings from across leisure and corporate segment last...Business
Chip giant Nvidia rides AI wave as profits soar
The company's stock rose more than 8 percent following the results. This year the company's share price has more than...Nvidia said sales doubled year-on-year to $13.5 billion in the latest completed quarter
The company said revenue in the current quarter would ramp up further to $16 billion
Jadwa buys stake in Gissah
The investment bank bought a 35% stake in Kuwaiti firm.The Saudi investment bank bought the stake through its private equity arm Jadwa Retail Opportunities Fund
It will help Kuwaiti perfume company to prepare for a public listing on the Tadawul, Saudi Arabia's stock market
DIEZ reports 5% rise in revenue
The company logged a 34% surge in EBITDA.The organization also achieved a 10% growth in revenue from leasing operations, a 36% growth in revenue from government services
DIEZ’s three economic zones, the Dubai Airport Free Zone DAFZ, Dubai Silicon Oasis and Dubai CommerCity achieved a combined 17% growth
Qantas posts bumper profit
The airline's annual profit climbs up to US$1.1 billion.
Vietnam shoemaker to cut 1200 jobs
PouYuen Vietnam employs an estimated 40,000 workers.It announced in May almost 6,000 workers with permanent contracts would be laid off, after letting go almost 3,000 permanent staff in February.
That came after PouYuen put 20,000 of its workers on paid leave in rotation last year.
Markets surge as traders await Powell speech, Nvidia results
A rally in Nvidia helped propel gains in global markets earlier this week, though traders could not keep up the...All eyes are on a planned speech Friday by Fed chief Jerome Powell, with dealers hoping for some clarity on its plans to keep inflation on a downward path.
Investors are also awaiting earnings from Nvidia, which is tipped to post forecast-busting revenue in the second quarter thanks to the surge in demand for its processors.
Iran-China trade down 11 percent to $8.5 bn in seven months
Tehran, Iran -- The trade exchanges between Iran and China in the first seven months of the current year reached...China’s top exports to Iran are mainly auto-industry related such as motor vehicles, parts and accessories, vehicle bodies (including cabs) and spark ignition engines.
China top imports from Iran are ethylene polymers, refined copper, raw aluminum, Iron ore and acyclic alcohols.
One fourth of all investors in state securities have left Russia: Minister
Moscow, Russia -- One fourth of all investors in state securities have been forced to leave the Russian market due...Russia's Finance Minister Anton Siluanov the government will find ways to replace the investors to create funds required for development of the economy.
Moscow's incursion into Ukraine has made Russia the most sanctioned country in the world. Western nations have regularly increased the sanctions.
GCC top export market for Dubai Chamber of Commerce members
Dubai, UAE -- The Gulf Cooperation Council countries were the top destinations for exports and re-exports of Dubai Chamber of...Saudi Arabia was named the top destination for members' exports, with the total value recording year-over-year growth of more than 15 percent to reach AED35 billion.
Members' exports to Kuwait during H1 2023 were valued at AED12.8 billion, while exports to Qatar grew by 39.3 percent.
Subway to sell for US$9bn
The fast-food chain has some 37,000 outlets across the world.In February, the company said it had hired JPMorgan to advise it on a possible sale, while saying it "remains committed to the future"
A few months back, it unveiled a franchising agreement to open some 4,000 restaurants in mainland China over the next 20 years
