ADNOC partners with Viola Communications
They will utilize outdoor media-leasing spaces for advertising.Business
European Union slaps $1.9bn fine on Apple over violation of rules
Brussels, Belgium - The EU on Monday hit Apple with a more than 1.8-billion-euro fine ($1.9 billion) for violating the bloc's...Business Geostrategy Global
DP World reports Q1 container volume growth of 3.7%
Dubai, UAE - DP World Limited, a global container terminal operator based in Dubai, has reported an increase in container...The company handled 19.5 million TEUs across its global portfolio, which is a 1.4 percent increase on a reported basis
The growth was driven by a strong performance in Asia Pacific and India, while Europe and the Americas saw softer performance
Samsung Electronics profit falls
The company reports its worst quarterly profits in 14 years.The first-quarter net income of Samsung fell 86.1 percent to 1.57 trillion won, and sales dropped 18 percent to 63.75 trillion won
Samsung blamed weakening demand for memory chips, which usually generate about half of its profits, and falling chip prices
Unilever revenue rises in Q1
Inflation pushes the consumer goods giant to hike prices.Uniliver said revenue increased 7 percent to 14.8 billion euros ($16.4 billion) compared with the first three months of 2022
Unilever, like companies worldwide, is passing on higher costs to customers as inflation stays stubbornly elevated
Dana Gas approves cash dividend
The total dividend payout will be $171 million.Shareholders holding the shares on May 4, 2023, will be eligible to receive the interim dividend, which is expected to be paid on May 25, 2023
The total dividend payment for the year will be AED630 million ($171 million) or 9 fils per share, a 12.5 percent increase compared to the dividend for 2021
Arabia Taxi adds 269 new Tesla cars to its fleet in Dubai
Dubai, UAE - Arabia Taxi, a subsidiary of Economic Group Holdings in the UAE, has signed an agreement with Tesla...The Economic Group Holdings owns the largest fleet of private taxi vehicles in the UAE
These new Tesla vehicles are a step towards the company’s goal of becoming fully electric
BP faces angry shareholders over climate plans
BP in February announced that it expected to boost its profits between now and 2030 by investing more in both...Some of Britain's biggest pension funds have warned that they will oppose the renewal of Helge Lund's mandate at the annual general meeting in London
Activist shareholders' group Follow This, which wants "Big Oil to go green", has also put forward a resolution calling for BP to be more ambitious in its climate objectives
GCC beats the heat with innovations, technologies
Gulf nations make significant strides in battling scorching summer by implementing groundbreaking technologies to create cooler and more comfortable urban...Gulf nations make significant strides in battling scorching summer by implementing groundbreaking technologies to create cooler and more comfortable urban environments
From Saudi Arabia's "road cooling" experiment to Qatar's air-conditioned pedestrian paths and blue-painted streets, these nations are at the forefront of innovative solutions
UAE delegation visits Belgium to strengthen economic ties
Abu Dhabi, UAE - A UAE delegation led by Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade,...Non-oil bilateral trade between the UAE and EU amounted to US$56 billion in 2022, achieving growth of 9.3 percent.
Non-oil trade value grew by 28.6 percent and 14.7 percent over the same period in 2020 and 2019, respectively.
Gulf bank Q1 net profit $56.50m
The bank's return on assets improved marginally to 1 percent.Gulf Bank recorded an operating income of KD 46.4 million for the first three months of 2023, and an operating profit before provisions of KD 25 million for the same period.
The operating profit has increased by KD 3.2 million or 15 percent for the first quarter of 2023 compared to the same period of last year.
Ajman real estate transactions reach $930 million in first quarter
Ajman, UAE - Total real estate transactions in Ajman in the first quarter (Q1) of 2023 totaled AED3.4 billion ($930...The quarterly report on real estate transactions in the emirate registered 555 mortgage applications worth $207.23 million.
Meanwhile, Local real estate transactions totaled AED1.4 billion ($380m), a rise of 34 percent compared to January.
