Business - TRENDS MENA

New York, United States -- ChatGPT-maker OpenAI has enlisted the legendary designer behind the iPhone to create an irresistible gadget...

The country increased its military spending by 16 percent to reach an estimated $75 billion, surpassing the United Kingdom, Germany,...
The country increased its military spending by 16 percent to reach an estimated $75 billion
The Middle East, with Saudi Arabia in the lead, had the highest military burden in 2022
Dubai, UAE -- Dubai Multi Commodities Centre hosted a China Business Day at Almas Tower, which drew more than 200...
DMCC is home to more than 750 Chinese companies, which accounts for over 12 percent of all Chinese businesses registered in the UAE.
DMCC said in a statement that the event celebrated the flourishing commercial ties between the UAE and China as bilateral trade is likely to reach 200bn by 2030.
The company posted a first quarter operating loss of $172 million.
The Swedish company also saw the number of paying subscribers grow to 210 million.
Spotify said it posted its strongest first quarter in 2023 since 2018 when it became public.
The net profit plunged by more than 56 percent compared to Q1 2022.
The company said in a Tadawul disclosure that its revenue of 2 billion riyals in Q1 was 11.11 percent less than 2.3 billion in the first quarter of 2022.
Earnings per share was 0.65 riyal during the first three months of 2023, lower than 1.48 in Q1 2022.
Heart disease, cancer medicines helped enhance revenue.
Novartis said that its operating profit would likely increase in the high single-digits this year.
The group would prioritize "high-value" medicines" across five core areas to drive its productivity.
Tehran, Iran— Claiming that Iran has received numerous “requests” from different countries for purchase of its defense equipment and cooperation,...
Iran could not purchase weapons from outside because of the Western sanctions, but today it can produce them on its own
The Islamic Republic has succeeded in keeping the country’s military and commercial jets airborne in spite of the sanctions
The firm will build an electric vehicle battery plant in the US.
The location of the facility has not yet been determined but it is expected to be in full gear and ready to start mass production in 2026.
It was expected to create thousands of jobs and the new factory would be equipped with "an annual production capacity of more than 30 gigawatts-hour".
Dubai, UAE -Taking advantage of the boom in the tourism sector in the Middle East, Saudi Arabia and the UAE...
Saudi Arabia is building more than 42,000 hotels rooms in order to cater to tourist demand in the country
The MENA region’s hotel construction will see some 119,505 new rooms being added in the near future
Abu Dhabi, UAE - Abu Dhabi Airports Free Zone (ADAFZ), a subsidiary of Abu Dhabi Airports, has recorded a two-fold...
The strong performance was driven by growth in leased spaces and properties, where ADAFZ signed contracts for a total of 163,580 m2
Properties included commercial spaces, land development plots, and administrative facilities, resulting in an increase in annual leases by 256%
Analysts polled by the Swiss financial newswire AWP expected UBS's first quarter net profit to tick in at around $1.7...
Net income of UBS for the first quarter was reduced by an increase in litigation provisions of $665 million to settle an old dispute linked to the subprime crisis
UBS said it saw a net inflow of new money into its global wealth management division of $28 billion, of which $7 billion came in the last 10 days of March