Dubai International Boat Show helps in marine business
DUBAI, UAE – Dubai International Boat Show has wrapped up following a hugely successful week of high-value boat sales, important...Business Global Tourism
Iraq economy likely to grow this year, says IMF
BAGHDAD, IRAQ – Economic growth of the country is projected to continue amid fiscal expansion, an International Monetary Fund (IMF)...Business Culture & Society
DIB Q1 profit up
Net financing and sukuk investments stood at $65.35bn.DIB's total income rose to AED 4.431 billion ($1.21bn) compared to AED 3.016 billion ($820m), a solid expansion of 47 percent YoY.
Net operating revenues showed a robust 12 percent YoY to reach $750 million, while net operating profit stood at $550 million.
HSBC calls for vetoing split proposal
HSBC's largest stakeholder Ping An says the split will improve business.HSBC argued this was the best and safest way to continue to deliver substantially more value for shareholders.
The banking giant called on shareholders to vote against the proposal at the bank's annual general meeting on May 5.
Abu Dhabi announces $100m Culinary Investment Fund
Dubai, UAE -- The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) Wednesday announced a new $100...DCT said the fund will support building and establishing a Culinary School to aid with recruitment, training, and other staffing resources in the sector.
The first two recipients of the new Abu Dhabi Culinary Investment Fund would be announced in the coming months.
MBM Holding, Portland Holdings ink MoU
Firms will work together on nuclear, renewable energy.The two firms seek to address global challenges by adopting innovative solutions in health sciences and nuclear and clean energy.
The MoU comes as part of the UAE’s Year of Sustainability in preparation for the country's hosting of COP 28 to promote environmental sustainability.
DAE okays $300m for bond repurchase
The repurchase will be made through open market transactions.To date, DAE has repurchased approximately $1.13 billion of principal amount of its publicly traded bonds under the previous authorizations of $1.2 billion.
The airplane lessor currently has approximately $3.5 billion of publicly traded bonds outstanding in the capital markets.
Dubai records real estate deals worth $843 million in two days
Dubai, UAE – Dubai's real estate market recorded real estate transactions worth AED1.9 billion ($517 million) on Wednesday, Dubai Land...Wednesday's sales included 474 villas and apartments worth AED1.13 billion, and 31 land plots worth AED445.47 million.
On Tuesday, the emirate recorded deals worth AED1.2 billion ($326 million) , including 433 sales transactions worth AED820.06 million
More rate rises may be needed to tame high inflation, says ECB economist
FRANKFURT, GERMANY - More eurozone interest rate increases will be appropriate to tame high inflation if conditions remain as expected, the...The ECB has hiked rates by 3.5 percentage points since July last year in an unprecedented campaign of monetary tightening.
The central bank holds its next meeting on May 4 and all eyes are on whether policymakers will implement another hike and by how much.
Retail giant Carrefour to offer menstrual leave to workers in France
Paris, France -- French supermarket giant Carrefour said on Wednesday it would allow female employees to take days off if they...The move is the latest to allow women extra time off in a country where paid menstrual leave still depends on the individual initiative of employers.
The company, which has supermarkets all over the world, said the measures would for the moment only apply to workers in France.
M42 acquires Diaverum
Diaverum is world’s third-largest provider of dialysis services.Founded in 1991, Diaverum operates across 23 countries, with 440 clinics and over 13,000 employees.
It has a strong track record of clinical excellence, providing critical care to around 39,000 patients.
Netflix reports mixed earnings as password crackdown coming
The streaming television giant reported a quarterly profit of $1.3 billion, in line with expectations, but said it had delayed...Netflix said it expects to begin rolling out its options for paid password sharing this quarter instead
Market tracker Insider Intelligence forecast that Netflix will bring in $770 million in ad revenue from the new tier this year
