FAB delivers strong results in 2024 with profit before tax of AED 19.9 billion, up 13% yoy
First Abu Dhabi Bank (FAB) has achieved solid results in 2024 with Group net profit reaching AED 17.1 billion, up...Business
Stocks mostly rise, oil falls as Trump fans Ukraine peace hopes
London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the...Business Economy
Sovcomflot 2023 net profit $900m  Â
In 2023, the firm demonstrated strong financial results.The company's revenue increased by 22.6 percent in 2023
Sovcomflot’s operating profit in 2023 doubled to $1.16 billion.
Shipping service connecting India, South East Asia with Saudi Arabia comes up
RIYADH, SAUDI ARABIA – VASI Shipping Pte Ltd has introduced a new shipping service IMS at King Abdulaziz Port in...This service aims to enhance its strategic partnerships with major international shipping lines, support the maritime sector.
This initiative represents a significant step in bolstering the role of King Abdulaziz Port in Dammam in enhancing the maritime transport sector.
Bahrain and France sign MoU to boost tourism education
Lyon, France--Vatel Hotel and Tourism Business School Bahrain signed a memorandum of understanding (MoU) with EKLYA School of Business in...The MoU will strengthen educational ties, foster mutual understanding, and enhance bilateral relations in the realms of academia, culture, and knowledge exchange
The curriculum for the EKLYA students will encompass a variety of subjects, including cross-cultural studies, project management, event management, and geopolitics
Iran signs deals worth US$13bn to boost oil production
The oil ministry and Iranian businesses signed deals worth $13 billion to increase daily oil production in six major fields....Last year Iranian oil minister promised the country's oil production would reach 3.6m bpd
Iran's oil sector suffered a blow in 2018 when Western sanctions were reimposed
Iran signs big contracts to increase oil production
Iran sealed contracts worth billions of dollars with domestic companies to boost its oil production in the face of Western...Iranian Oil Minister Javad Owji had said that oil production would reach 3.6 million barrels per day by the end of the Persian year on March 19.
Iran's oil sector suffered a blow in 2018 when Western sanctions were reimposed, forcing foreign companies to leave the country,
Gemini’s inaccurate AI racial images warn of tech titans’ power
AUSTIN, US – For people at the trend-setting tech festival here, the scandal that erupted after Google's Gemini chatbot cranked out...Gaffes such as the images of ethnically diverse Nazi troops forced Google to temporarily stop users from creating pictures of people.
Social media users mocked and criticized Google for historically inaccurate images, like those showing a female black US senator from the 1800s.
Nakheel, Meydan join Dubai Holding
The Board of Directors of both Nakheel and Meydan will be abolished.Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum directed the two to merge under Dubai Holding under the leadership of Sheikh Ahmed bin Saeed Al Maktoum
He said the goal is to create a more financially efficient entity, owning assets worth hundreds of billions, and comprising global expertise across various sectors
Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...The Saudi delegation held meetings with teams from Canada, the Czech Republic and Ecuador.
These are part of the 85 meetings they will hold with officials of countries and global firms participating in the event.
ExxonMobil makes new oil discovery
The oil and gas strike is the first of 2024.The oil and gas strike, the first of 2024, was in the Stabroek block, the company said Friday
Drillers "encountered approximately 197 feet (60 meters) of hydrocarbon-bearing sandstone," Exxon said
Gulf aviation industry sets sky-high standards
"The demand from certain sectors indicates a strong interest in First Class, prompting us to introduce a newly-designed First Class...Qatar Airways CEO, Engr. Badr Mohammed Al Meer, emphasizes innovation in elevating customer experience amidst growing competition.
Digital innovation drives organizational efficiencies, supporting the expansion of Qatar Airways into growth markets like China and India.
