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Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

BP announces $7bn gas project

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.

Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

  • Boursa Kuwait posts $51m net profit

    Operating profit for 2023 was recorded at US$59 million.

    Total operating revenues of US$99 million were recorded for 2023.

    Consolidated assets came in at approximately US$386 million in 2023.

  • Stock markets diverge before Nvidia results, Federal Reserve minutes

    Stock markets diverged as traders awaited earnings from US tech darling Nvidia, in addition to minutes from the Federal Reserve...

    In the eurozone, the Frankfurt and Paris stock markets edged higher in afternoon deals.

    Hong Kong and Shanghai bourses jumped after Beijing's latest measures to boost China's stuttering economy.

  • Glencore 2023 profit down 75%

    The company said lower energy prices cut into its profits.

    Gross operating profit fell 50 percent to $17.l billion, "primarily reflecting the rebalancing and normalization of international energy trade flows," it said

    The commodities trading unit saw operating profit fall 46% to $3.5 billion, "with coal and LNG (liquefied natural gas), and to a lesser extent, oil prices materially declining"

  • Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023

    DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...

    The total number of F&B companies registered with Dubai Chamber of Commerce stood at 22,585 at the end of 2023.

    Dubai Chamber of Commerce launched 11 business groups dedicated to the industry, eight of which were set up in 2023.

  • e& 2023 net profit is US$2.8bn

    e& said the net profit is a growth of 3 percent year-over-year.

    Consolidated revenues reached US$14.6 billion which is a growth of 8.3 percent year-over-year.

    Consolidated EBITDA rose by 3.7 percent year-over-year at constant exchange rates, to US$7.1 billion.

  • MENA print media revenues fell 30% from 2018 to 2022: survey

    The report stresses the urgent need for MENA news organizations to overhaul business models, adopt digital strategies, and diversify content...

    The analysis also forecasts a compound annual growth rate (CAGR) of -4% up to 2027, which could cause total MENA revenues to fall even further to US$1.2 billion

    The figures also show that while digital advertising revenues are slowly increasing at a rate of 1% per year, print advertising revenues are set to slump by 11.3% by 2027

  • HSBC posts record profit of US$30.3bn

    The bank would initiate a share buyback of up to US$2 billion.

    HSBC reported pre-tax profits of $30.3 billion, up from $17.1 billion the year before, in a statement to the Hong Kong stock exchange

    The bank said the profits included a "favorable year-on-year impact" of $2.5 billion due to the sale of its French retail banking operations

  • Dubai food and beverage sector stirs up with investment of US$577m

    Dubai, UAE-- The food and beverage sector in Dubai has attracted new FDI worth $577 million from 2019 to 2023,...

    The sector in the UAE generated $16.4bn in retail sales, including fresh food and packaged food

    Last year, consumers across the country spent some $1.1bn on food ordered on e-commerce platform

  • ADIB unveils new payment hub

    It will help customers to seamlessly process transfers.

    The bank said customers can now seamlessly process transfers, providing a solution that transforms payment processing capabilities

    Its chief digital officer, Fernando Plaza Lopez, said the bank is focused on driving digital-first solutions throughout the bank’s operations

  • Dubai to host the world’s biggest ‘airport industry show’ in May

    Dubai, UAE-- In the month of May scores of airport developers, officials, and suppliers from around the world will troop...

    Some 150 exhibitors from more than 20 countries and 7,500 visitors from over 30 countries will take part in the event

    The aviation market in the Middle East valued at US$60 billion in 2023 has seen a 26% growth in air connectivity in 2022