Toyota to invest US$2.2bn in Brazil
The automaker will beef up production of hybrid vehicles.Business
Tesla stops production at German plant after suspected arson attack
Michael Stuebgen, interior minister for Brandenburg state, said that "if initial findings are confirmed, this is a perfidious attack on...Business
UAE and Jordan sign MoU to boost tourism, cultural exchange
Abu Dhabi, UAE--Looking to boost tourism and cultural exchange between the two countries, the Department of Culture and Tourism Abu...The deal will bolster tourism and economic cooperation between the two nations, driving growth in leisure traffic in key markets
The partnership entails starting initiatives like joint sales workshops, training, roadshows to improve partner engagements and cultural exchange
Airbus Q1 net profit at $514m
The company delivered 127 aircraft in Q1 of 2023.Revenues generated by Airbus' commercial aircraft activities decreased by five percent year-on-year.
The company's defense and space unit saw revenues drop by six percent, while the helicopter unit jumped by 26 percent.
EITC posts Q1 revenue at $936m
Revenue is due to demand for fixed, mobile services.The prepaid customer base of EITC increased to 6.7 million, driven by the continued attractiveness of Flexi plans and brisk tourism activity.
EITC's commercial initiatives led to a 9.4 percent increase in mobile customers, with 8.2 million subscribers at the end of the quarter.
Dubai real estate market transactions reach $7.21bn in April
Dubai, UAE -- April 2023 was the best month in a decade for Dubai's real estate market, both in terms...The number of transactions grew by 17 percent to 8077 in April 2023, from 6898 transactions in April 2022.
The value of the transactions witnessed a surge of 46 percent compared to the same month last year.
DEWA adds 200 MW of clean energy from solar park
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) has added 200 MW of clean energy from the fifth phase...DEWA organized a conference in March 2023 to give an overview of the latest developments of the 1,800MW 6th phase for local and international developers
The solar park's current production capacity is now at 2,327MW, which is about 15.7 percent of Dubai's total production capacity of energy
Radisson eyes bigger share of Middle East hospitality sector
Dubai, UAE-- Seeking to take advantage of the boom in the Middle East's hospitality sector, Radisson Hotel Group will triple...The hotel group plans to have 150 properties across the Middle East by the end of the decade, from its current portfolio of 52 hotels in the region
It will open seven properties across Saudi Arabia in 2023 as its intends to capitalize on the surge in religious tourism in the kingdom
Ford reports solid performance
The company's profits came in at $1.8 billion.Profits came in at $1.8 billion, compared with a $3.1 billion loss in the year-ago period connected to an accounting loss
Tuesday's results were the first under Ford's new reporting structure that includes separate financial details for EVs
Dubai based Astra Tech launches ‘Ultra app’ Botim
Dubai, UAE - Dubai-based consumer technology holding group Astra Tech has launched the world's first "Ultra app" - Botim 3.0. The...The app is a combination of fintech, e-commerce, and GPT, built on top of a communication platform
Botim GPT is an executional GPT that leverages AI to execute tasks and process transactions through conversation
Beema’s Q1 profit soars
The firm recorded a jump in the net profit to US$3.73mn.In 2022, Beema achieved gross written premiums of $108 million, an increase of 6.8 percent from 2021
It reported a total shareholders' income of $28.46 million and a total shareholders' profit of $15.54 million in 2022
World’s longest submarine cable lands in Jeddah, Yanbu
Jeddah, Saudi Arabia -- Center3, a connectivity company owned by stc Group, and Meta Company announced on Tuesday the landing...The project, a part of the 2Africa subsea cable consortium, is geared tow making Saudi Arabia a global digital hub linking three continents of the world - Asia, Africa and Europe.
With over 45,000 km of length, the project will connect 33 countries by the completion of the project in 2024, delivering reliable connectivity and internet services
