Amazon triples quarterly profit

The company's cloud, ads, and retail businesses thrive.

McDonald’s profits up 7%

The quarterly profits increased despite weak Middle East sales.

ADQ buys stake in Plenary Group

The deal is aimed at expanding public and social infrastructure.

FPT and Nvidia to build AI factory

Nvidia had invested around $250 million in Vietnam.

Swiss reserve hike hits UBS

The reserve requirement will increase from 2.5% to 4% from July 1.

  • Russia becomes world’s fourth-biggest LNG producer, says PM

    MOSCOW, RUSSIA – Prime Minister Mikhail Mishustin said the country became the world’s fourth-biggest LNG producer last year. The Russian...

    Mikhail Mishustin said that the volume of LNG exports rose almost three-fold in six years.

    In January - February 2024, natural gas production in Russia increased by 11.3 percent year-on-year.

  • EasyLease buys stake in United Trans

    This helps EasyLease expand its presence in mobility sector.

    United Trans has been at the forefront of transforming the regional transport spectrum.

    The company collaborates with major global organizations across all modes of transport.

  • flynas receives 50th jetliner out of 120 Airbus A320neo ordered

    RIYADH, SAUDI ARABIA – flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the...

    The deal with Airbus was a strategic step for flynas, consolidating its position as a leading low-cost airline in the Middle East.

    The company is moving forward in its plan to double the fleet size after getting approval to purchase 250 aircraft.

  • Iran-Turkey trade expands to US$930m in first two months of 2024

    Tehran, Iran--The trade exchanges between Iran and Turkey in the first two months of 2024 reached $930 million, showing a...

    According to a report, Turkey’s exports to Iran in January and February reached $580 million, recording a 23 percent increase

    Turkey’s imports from Iran however registered a 22 percent decline and fell from $450m in January-February 2023 to $350m

  • Central Bank of Bahrain Sukuk Al Ijara oversubscribed by 186 percent

    Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al...

    As per reports, subscriptions worth $128.67 million were received for the $69.14 million issue, which carries maturity of 182 days

    The expected return on the issue, which begins on April 4 and matures on October 3, is 5.90%, equivalent to the previous issue

  • Tesla reports drop in auto sales

    The decline was in part due to a weak sales market in China.

    In explaining the drop, Tesla pointed to a hit from the production ramp-up of an updated Model 3 at its California factory and plant shutdowns due to shipping diversions

    Financial services firm Morningstar said the decline also "points to a slowdown in demand for Tesla's vehicles, as the company's competitors may have cut price more than Tesla

  • FAB, Microsoft forge partnership

    The two will work to develop AI-based banking capabilities.

    The new AI Innovation Hub will focus on innovation, sustainability, and customer experience

    It will accelerate the adoption of new innovations and AI technology into financial services

  • Google to delete incognito search data

    The suit filed in June of 2020 sought US$5bn in damages.

    The lawsuit, filed in a California court in June 2020, claimed Google's practices had infringed on users' privacy by intentionally deceiving them with the incognito option

    The settlement calls for no cash damages to be paid but leaves an option for Chrome users who feel they were wronged to sue Google separately to get money

  • ADQ launches new firm in healthcare sector

    Arcera will aim to improve the quality of "human life."

    It will seek to build a global life sciences powerhouse set to make significant contributions to realizing Abu Dhabi’s 2030 Healthcare Life Sciences Vision

    With a workforce of over 6,500 people in 90 countries all over the world, Arcera aims to offer groundbreaking solutions that foster longer and healthier lives

  • Gross written premium rises by 12.7% in Q4 2023 to US$14bn, says CBUAE

    ABU DHABI, UAE - The UAE insurance sector continued to grow in Q4 2023, as reflected by the increase in...

    The number of licenced insurance companies in the UAE remained at 60, the CBUAE announced in its quarterly economic report.

    The insurance of persons and fund accumulation premiums decreased by 12.4 percent YoY.