Burjeel Holdings net profit up
The company’s 2023 annual revenue rises to US$1.2 billion.Company News Business
Gold, bitcoin pull back from records as US stock markets slip
On Wall Street, the Dow and the S&P 500 both finished 1.0 percent lower, while the tech-rich Nasdaq composite ended...Business
Savola Group net profit up 45%
The company posted a net profit of $104 million for the quarter.The net profit was up despite higher operating expenses, higher net finance cost and higher zakat and income tax expenses.
Revenues increased in the Retail, Food Processing and Frozen Food segments by 11 percent, 2 percent and 15 percent, respectively.
ADNOC, Baker Hughes partner to boost green hydrogen development
Abu Dhabi, UAE - ADNOC and Baker Hughes announced Wednesday a deal to accelerate the development and commercialization of technology...ADNOC will leverage Baker Hughes’ extensive hydrogen expertize and broad portfolio to test and develop solutions to produce low-cost green hydrogen.
Baker Hughes has been a longstanding strategic partner to ADNOC, deploying advanced technologies and solutions across the energy value chain.
First-ever Dubai-Palestine business meet focuses on startups
Dubai, UAE - A delegation of Palestinian business executives including 21 start-up representatives visited Dubai Chamber of Digital Economy.It is...The event included demonstration of key steps to set up a digital-first business in Dubai, and trade opportunities with Dubai companies.
Participants at the event included Hashim Shawa, Chairman of Bank of Palestine Group, and; Linda Tarzi, Board Member at Bank of Palestine Group.
Rare Hebrew Bible, Rousseau up for sale in New York
At Christie's, the star lot is Henri Rousseau's "Les Flamants," which is set to smash the record price at auction...Codex Sassoon, the most expensive historical document to ever go under the hammer and is tipped to fetch up to $50 million at Sotheby's on May 17
Other Sotheby's highlights include Jean-Michel Basquiat's 1985 ode to jazz "Now's the Time," which is predicted to achieve more than $30 million
ADNIC records 17% profit rise
The firm's net profit soared to US$27.14mn in Q1 of 2023.The insurance company's total revenue took a dive to $273 million in Q1 of 2023 from $300 million for the same period in 2022
Its net income from investment however shot up 94.0% to $12.60 million compared to $6.50 million for the same period in 2022
ADNOC to float 15% minority stake in ADNOC Logistics & Services on ADX
Abu Dhabi, UAE -- ADNOC has announced its intention to float a 15 percent minority stake in ADNOC Logistics &...The offering is expected to open on May 16, 2023, subject to regulatory approvals and other relevant considerations
ADNOC L&S is alogistics services provider to ADNOC Group, offering highly-specialized services across the energy value chain
Saudi Arabia, South Korea sign two MoUs for mobility, road projects
Riyadh, Saudi Arabia--Saudi Arabia and South Korea have signed two agreements on Tuesday for future mobility and roads in the...The agreements between the two countries will boost cooperation in mobility and innovation in the transport and logistics services sectors
Both the countries will, in accordance with the spirit of the agreement, exchange experiences to solve challenges in adopting modern technologies
Qatar, Spain launch innovation program to support collaborative research
Doha, Qatar: Qatar and Spain have launched the Qatar Spain Innovation Program (QASIP), a joint venture between the Qatar Research,...The program aims to support collaborative research and development projects in energy, health, resource sustainability, and digital technology
The program is the first fruit of cooperation between the QRDI Council and CDTI, following a MoU signed by Qatar and Spain in 2022
Video and audio calls coming to Twitter, says Musk
Since buying Twitter for $44 billion late last year, Musk has made changes in seemingly impulsive ways, sometimes causing chaos...Twitter boss contended that the WhatsApp messaging service operated by Meta "cannot be trusted"
He added that Twitter will start direct messages on the platform, scrambling contents to safeguard privacy
Central Bank of Oman issues treasury bills valued at US$36.35 million
Muscat, Oman--The Central Bank of Oman (CBO) has raised $36.35 million by way of allotting treasury bills on Tuesday, the...According to the central bank, the value of the allotted treasury bills amounted to $26 million, for a maturity period of 28 days
The bank added in a statement that the allotted treasury bills amounted to $10.38 million for a maturity period of 91 days
