ADIB 2023 net profit $1.4bn
The bank achieved a Return on Equity of 27.1 percent.Company News Business Banking & Finance
Medical tourists spent $270m in Dubai during 2022: DHA
Awadh Seghayer Al Ketbi, Director-General of the DHA, said Dubai’s ability to provide high-quality patient-centered medical care has accelerated its...39% percent of the medical tourists were from Asian countries, 22% from Europe and the Commonwealth of Independent States.
The three specialities that saw the highest number of medical tourists were dermatology (31%) dentistry (24%) and gynecology (18%).
Infosys Q1 profit drops
Revenue grew 8.8% YoY, but fell 3.2% quarter-on-quarter.Infosys benefitted from an IT boom that made India the back office to the world for subcontracted work.
The company, like local rival TCS, also gained from the increased use of digital services during the Covid pandemic.
UAE top Arab investor in Egypt with $28bn investments by Q1
Abu Dhabi, UAE - The UAE led the Arab region in terms of investments in Egypt, Jamal bin Saif Al...The two countries also aim to increase this figure to $35 billion over the next decade in tourism, education, logistics, food industries.
The Egyptian market has over 3,000 Emirati companies operating in telecommunications, construction, smart cities
EU privacy watchdog sets up ChatGPT task force
The European Union's central data regulator said it was forming a task force to help countries deal with AI chatbot...ChatGPT can generate essays, poems and conversations from the briefest of prompts and is capable of passing exams.
Chatbot can only function if it is trained on vast datasets, raising concerns about where OpenAI gets its data.
IMF chief calls upon global community to avert a ‘second Cold War’
Countries must do more to avert the costly consequences of growing global trade fragmentation, and help avert a "second Cold...Multilateral institutions like the World Bank and IMF have an important role to play in preventing the world from splintering into different blocs.
An IMF report said that growing trade fragmentation due to Brexit, US-China trade war and Russian invasion of Ukraine, could make the global economy.
Barwa Q1 net profit $64.55m
The company had reported a 2.18 percent rise in profit for 2022.For the first quarter of 2023, Lesha Bank announced a net profit of QR22 million, compared to 21 million the same quarter previous year.
Qatar Fuel Company recorded a 15 percent decrease in net profit to QR223 in Q1 2023 compared to more than QR262 million for Q1 2022.
Russia to withdraw from grain deal if all conditions are not fulfilled
Russia delivered a new warning to the West over a grain deal with Ukraine, saying a number of conditions must...Russia, whose economy has been hit by a raft of Western sanctions, has repeatedly threatened to walk away from the agreement if obstacles to its own exports remain.
There are no sanctions on Russian exports of food and fertilizers to global markets but the problems are related to sanctions on shipping, insurance companies and banks.
ADNOC L&S to deploy five very large gas carriers
ABU DHABI, UAE - ADNOC Logistics & Services (ADNOC L&S), the shipping and maritime logistics arm of ADNOC, announced on...The gas carriers will be owned and operated by AW Shipping, an ADNOC L&S joint venture with Wanhua Chemical Group.
VLGCs transport liquefied petroleum gas and will provide ADNOC L&S greater flexibility to meet growing global gas demand.
SoftBank to sell Alibaba stake
It has sold more than US$7bn of its shares since early 2023.The Japanese investment titan, an early investor in the Chinese internet giant founded by Jack Ma, started offloading its shares last year
Alibaba like other leading Chinese tech firms has been badly impacted by a regulatory crackdown on the industry starting in 2020
The Chief Zero Trust Officer: A new role for a new era of cybersecurity
With remote or hybrid work now the norm and cyber-attacks continuing to escalate, businesses realize they must take a fundamentally...The security approach that has gained traction in recent years is the concept of Zero Trust and its basic principle behind it is simple: don't trust anything; verify everything
Breaking down the silos between IT, cybersecurity, and networking groups, and establishing clear communication channels can help achieve a cohesive security strategy
