Dow, S&P 500 hit fresh records, but Nasdaq ticks lower
The tech-rich Nasdaq slipped by 0.3 percent to 15,996.82 -- a day after surging by 3.0 percent following strong earnings...Business
AI in focus as world’s biggest mobile fair gets underway in Spain
Barcelona, Spain - The world's biggest mobile phone fair throws open its doors in Barcelona Monday with the sector looking to...Business
Adani Enterprises shares suspended as price slumps again
Adani himself has seen his fortune plummet by tens of billions of dollars, dumping him out of the real-times Forbes rich...Adani Enterprises fell 10 percent at the open, while Adani Power, Adani Green Energy, Adani Total Gas and Adani Transmission were also suspended when they hit their trading stops
The conglomerate's combined market capitalization has plummeted by more than $100 billion since US short-seller Hindenburg Research released an explosive report last week
QAMCO’s profit surges by 10%
Earnings per share amounted to QR 0.165 in 2022.The company, which was established in December 2018, added in a statement on the Qatar Stock Exchange website that the earnings per share (EPS) amounted to QR 0.165 in 2022
The board of directors recommended distributing cash dividends to shareholders for the year 2022 at QR0.09 per share, a nine percent of the share's nominal value
KSA, UAE play well as e-gaming trends across GCC
The gaming markets in Saudi Arabia, the UAE and Egypt is expected to be worth $3.14bn by 2025, according to...The gaming markets in Saudi Arabia, the UAE and Egypt is expected to be worth $3.14bn by 2025, according to California-based market research and consulting firm Niko Partners
By 2025, the GCC will contribute roughly 1.5 percent of the income generated by the global gaming sector as the industry is anticipated to grow at a CAGR of 22.5 percent
Iraq hopes talks can resolve hitches in US$10bn Total deal
Iraq admitted it had differences with France's TotalEnergies over a US$10-billion contract, including over the distribution of investments, but expressed...The French energy giant had signed the US$10-billion contract with Iraq in September 2021.
The partnership has struggled to materialize amid reported signs of discord between the two sides.
Iraq calls for more economic cooperation with Saudi Arabia
Baghdad is currently heavily dependent on neighboring Iran for its electricity and gas and has sought to diversify its energy...Iraq's foreign minister said Riyadh was ready to back Saudi companies investing in Iraq and welcomed it.
Despite being oil-rich, Iraq suffers from crumbling infrastructure and public services, after decades of conflict.
DHA, DIEZ ink MoU to support healthcare sector
DUBAI, UAE - Dubai Health Authority (DHA) has signed a Memorandum of Understanding (MoU) with Dubai Integrated Economic Zones Authority...The MoU aims to enhance the private health sector’s investments in Dubai and consolidate the sector’s role in the ongoing development of health facilities.
DHA, DIEZ will develop a special framework to pinpoint innovation standards of healthcare start-ups in Dubai.
ADNOC signs 23 agreements
Under the pact, the companies will manufacture products in UAE.The products are part of the AED70 billion ($19 billion) worth of products in ADNOC’s procurement pipeline that the company identified for domestic manufacturing in July 2022.
Last year, ADNOC signed agreements for local manufacturing commitments worth over AED25 billion ($6.8 billion) with UAE and international companies.
Telenor 2022 net profit at $4.5bn
Merger of its Malaysian subsidiary with a firm helped.Telenor said it had made good progress in the planned merger of its subsidiary Dtac with True in Thailand.
The firm maintained its earnings forecast for the current year and proposed a slight increase in its dividend for 2022.
Santander 2022 profit at $10.6bn
The bank's profit got a boost due to higher interest rates.Shareholders would receive a payout of around 40% of the group's underlying profit, divided equally between cash dividends and share buybacks
Central banks have hiked interest rates worldwide in an effort to tame runaway inflation.
Abu Dhabi-based Aldar to debut in Dubai realty market
Abu Dhabi, UAE--Abu Dhabi-baed Aldar Properties will make a debut into Dubai's lucrative real estate market after it signed an...The joint venture will develop new communities in three locations across an area of 38.2 million sqft (3.55 million sqm).
The new communities will be located in the suburban heart of Dubai along the E311 and E611 corridors in close proximity to several residential communities.
