DP World 2023 profit is $1.5bn
The company's revenue grew 6.6 percent to $18.25 billion.Company News Business
Ramadan influences consumer habits, retail strategy
The ongoing fasting month brings traditional practices and modern shopping habits together, impacting market trends significantly in the Gulf region.Business
Strong economy, innovation shield GCC banks
GCC banks, which are recognized for their sophistication and maturity, have minimal exposure to the ongoing global crisis due to...The Gulf banking sector's resilience and adaptability position it well to navigate the current global landscape, ensuring continued growth and stability, say experts
GCC banks, which are recognized for sophistication and maturity, have minimal exposure to the crisis due to robust regulations by regional regulators, they add
UK delivery firm Tuffnells collapses
The company had failed to secure new funding, the administrators said.Privately-owned Tuffnells, which specializes in large and bulky goods, is based in the northern English city of Sheffield.
The company, which has 33 delivery depots dotted across Britain, also suffered badly on fallout from the coronavirus pandemic.
Greenpeace denounces UK energy firm over coal-fired power station
LONDON, UK - Greenpeace slammed Britain's power grid operator on Monday after it requested the reactivation of a coal-fired power station...National Grid ESO has asked energy firm Uniper to fire up a coal unit of its power station in Ratcliffe-on-Soar, central England.
Temperatures in Britain could exceed 30 degrees Celsius (86 degrees Fahrenheit) on Monday and remain high this week, forecasters say.
HSBC relaunches SVB UK
The new unit is headed by former SVB UK boss Erin Platts.HSBC rebranded SVB UK as HSBC Innovation Banking, the London-listed lender said in a statement.
HSBC in March bought SVB UK under a deal brokered by the UK government and the Bank of England.
Dubai logs over $952 million in real estate transactions
Dubai, UAE -- Dubai's real estate market recorded real estate transactions worth AED 3.5 billion ($952 million) on Monday, the...The deals included 671 sales transactions worth AED2.29 billion, 149 mortgage deals totaling AED1.14 billion and 29 gift deals amounting to AED98.65 million.
The sales included 615 villas and apartments worth AED1.45 billion, and 56 land plots worth AED846.15 million.
Initiative by Digital Economy Chamber to help firms set up in Dubai
DUBAI, UAE - Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has announced a...The initiative will provide a comprehensive package of services designed to support tech, digital startups, SMEs, and MNCs.
The chamber’s strategy (2022– 2024) is focused on improving the digital business environment, developing support for digital firms.
Assets of banks in UAE up 2.6% in first quarter to reach $1.02 trillion
In its UAE Monetary, Banking, and Financial Markets Developments Report for Q1, which provides insights into the monetary and banking...Money Supply M1, comprising Currency in Circulation outside Banks and Monetary Deposits, witnessed a 3 percent q-o-q increase during the first quarter of 2023.
At the end of the first quarter of 2023, there were 22 locally incorporated banks, while the branches of these banks decreased to 494.
Sharjah’s Sabaa Sanabel wheat gets Made in the UAE mark
SHARJAH, UAE -Â Sabaa Sanabel wheat flour, made from the wheat produced here, has become the first national product to...Sabaa Sanabel wheat flour has met the highest quality and safety standards in force in the UAE, boosting its competitiveness in the market.
Sabaa Sanabel has obtained five accredited certificates in quality and safety as it does not contain anything that changes its nutritional value.
Masdar to build up to 1GW wind power project in Kazakhstan
Abu Dhabi, UAE -: Abu Dhabi Future Energy Company, also called, Masdar signed on Sunday an agreement for developing up...Masdar is active in more than 40 countries and has invested in a portfolio of renewable energy projects with a combined capacity of more than 20 GW
In Azerbaijan, Masdar is developing the 230 MW Garadag solar power plant and has signed agreements for onshore wind and solar projects
solutions signs $118m contract
The contract's impact will show in the firm's Q3 financials.The company that under the 42-month contract, awarded on April 26, it will support and operate an information technology management program for NCGR.
The company reported a revenue of SAR 2.7 billion in the first quarter of 2023, an increase of 19 percent from the same quarter last year.
