Passenger air traffic has reached pre-pandemic levels, says ICAO
MONTREAL, CANADA – In the first quarter of 2024, the International Civil Aviation Organization (ICAO) projected that passenger air traffic...Business Global Aviation
BP profit plunges to $1.8bn
Despite the drop, BP hiked dividend.Profit after tax plunged to $1.8 billion in the three months to the end of June compared with $9.3 billion in the second quarter last year, BP said in a statement
Oil prices have tumbled, partly on fears of falling demand as the global economy slows, with major consumer China's post-Covid recovery stumbling
Brazil midfielder Fabinho quits Liverpool, signs deal with Al-Ittihad
Fabinho, the Brazil midfielder, will join Karim Benzema and N'Golo Kante at Al-Ittihad, one of four Saudi clubs controlled by...He joined Liverpool from Monaco in 2018, winning the Champions League, Premier League, FA Cup, League Cup and Club World Cup
Fabinho's departure comes after Liverpool captain Jordan Henderson decided to move to Saudi Arabia to play for Al-Ettifaq
Musk caves in to furore, removes giant, flashing X sign
The X, installed on the roof of the company's downtown office last week, was part of owner Elon Musk's bid...San Francisco's Department of Building Inspection and City Planning received 24 complaints about the sign
The owner of the property where X is renting offices will have to pay the cost of permits to install and remove the sign
Inma Holding profit tumbles
Its net profit fell 53.8% in H1 of 2023 to US$0.92m.Its earnings per share(EPS) declined to reach QR 0.059 as of 30th June 2023 versus EPS QR 0.128 for the same period in 2023
The company posted a 61.7% jump in net profit in 2022, reaching $2.69 million in comparison to a net profit of $1.67 million
Thriving businesses elevate UAE’s position globally
The country ascends four spots in Kearney's 2023 Global Services Location Index, reflecting its thriving business environment and emergence as...The Gulf country ascends four spots in Kearney's 2023 Global Services Location Index, reflecting its thriving business environment and emergence as a tech hub with 4,000+ startups
Jordan, Saudi Arabia, Qatar, Kuwait, Oman, and Lebanon debut on the Kearney's 2023 GSLI, while Egypt's ranking has dropped due to rising labor costs and digital focus deficit
US equities up as major firms set to unveil economic reports
New York, US - Wall Street stocks edged higher early Monday ahead of major economic reports and earnings releases later in...US equities have continued to trend higher in July behind hopes that the Federal Reserve will soon relent on interest rate hikes
The broad-based S&P 500 added 0.3 percent at 4,593.56, while the tech-rich Nasdaq Composite Index advanced 0.4 percent to 14,370.18.
Federal Reserve open to alter interest rates, says official
Washington, US - A Federal Reserve official left open the possibility on Monday of pausing or stopping interest rate hikes at...To rein in surging costs of living, the Fed has lifted the benchmark lending rate rapidly since March 2022
While the full effect of policy will take time to ripple through the economy, inflation has cooled
Aldar Properties Q2 net profit $353m
Aldar recorded AED 2.1 billion in net profits for the first half of 2023.It also achieved revenues of AED 6.3 billion dirhams, an increase of about 18 percent.
Aldar reported a record development sale of AED 11.6 billion with 10 new project launches year-to-date.
Saudi Arabia real GDP grows 1.1 percent in Q2 2023
RIYADH, SAUDI ARABIA - The real GDP of Saudi Arabia grew by 1.1 percent in the second quarter of 2023,...According to the report, seasonally adjusted real GDP decreased by 0.1 percent in Q2 of 2023 compared to Q1 of 2023.
GASTAT carries out all statistical work, as well as the technical oversight of the statistical sector in Saudi Arabia.
UK to issue hundreds of new oil and gas drilling licenses in North Sea
The announcement has angered environmental groups and comes amid an internal debate within the ruling Conservative party on green policies...."Investment in the North Sea will continue to unlock new projects, protect jobs, reduce emissions and boost UK energy independence," PM Rishi Sunak's office said.
"The government is taking steps to slow the rapid decline in domestic production of oil and gas, which will secure our domestic energy supply," it said.
