PureHealth posts $137m Q1 net profit
The Group's revenue increased 8 percent YoY.Company News Business
Meta releases standalone AI app, competing with ChatGPT
San Francisco, United States -- Social media behemoth Meta unveiled its first standalone AI assistant app on Tuesday as it...Technology Business
ADNEC to organize first Bitcoin MENA Conference in Abu Dhabi
Abu Dhabi, UAE--ADNEC Group has announced the launch of the region's first Bitcoin MENA Conference 2024 set to take place...The even will be co-organised by Capital Events and BTC Inc., the parent company of Bitcoin Magazine and the Bitcoin 2024 conference
The hosting of the conference marks a significant milestone in the world's largest Bitcoin conference’s expansion into the MENA region
Ramadan influences consumer habits, retail strategy
The ongoing fasting month brings traditional practices and modern shopping habits together, impacting market trends significantly in the Gulf region.The ongoing fasting month brings traditional practices and modern shopping habits together, impacting market trends significantly in the Gulf region.
From altered shopping hours to a rise in e-commerce and spending on traditional foods and gifts, Ramadan shapes retail landscape in unique ways.
Inditex posts record net profit
Inditex, the world's biggest fashion retailer, is owned by Zara.The net profit of Inditex reached 5.4 billion euros ($5.9 billion) last year, up 30 percent from 4.1 billion euros in 2022
The figure was in line with the expectations of analysts polled by financial data firm FactSet, who predicted profits of 5.36 billion euros
Adidas posts 2023 loss
In 2024, it expects sales to grow at a "mid-single-digit rate".The loss of 75 million euros ($82 million) followed a profit of 612 million euros the previous year
Two Yeezy sales in 2023 brought in 750 million euros, well below the 1.2 billion euros of revenue the logo had generated in 2022
Volkswagen profit up
It delivered some 9.2 million cars to customers in 2023.Its profit rose 13.1 percent to $19.6 billion from the previous year
The German auto giant expects vehicle deliveries to advance this year
Over 70% report revenue surge in UAE from digital payments, Visa finds
Dubai, UAE - More than 70% of surveyed retailers in the UAE have experienced increased revenue and higher customer footfall since...The study focused on two groups of merchants - those accepting digital payments for 1-4 years and those exclusively dealing in cash transactions
95% of digital payment-accepting merchants believe that the value derived from digital payment acceptance are on par with or exceed the associated costs
Thousands of international companies join Dubai Chamber of Commerce in 2023
Dubai, UAE--A study undertaken by Dubai Chamber of Commerce has revealed that Indian investors topped the list of nationalities of...Some 15,481 new Indian-owned companies became members in 2023, representing year-over-year (YoY) growth of 38 percent
Pakistan ranked second in terms of new company memberships in 2023, with the chamber welcoming 8,036 new businesses in 2023
Cyber insurance shapes the future of cybersecurity
Cyber insurance, particularly around ransomware, is moving towards a world where insured businesses have strong cyber resilience, well-defined disaster recovery...Rising cyber-attack and ransomware effectiveness boosts demand for cyber insurance, leading to increased premiums and stricter coverage rules amid impact on businesses.
Business risks have evolved from physical to digital, propelling cyber insurance toward a predicted $84.62 billion industry by 2030, highlighting the sector's rapid growth.
UAE records more than 25% growth in international card spending in 2023
Dubai, UAE--Total spending using international cards in the UAE witnessed a growth of more than 25% during the year 2023.J.K....Transactions via cards and digital payment solutions in the Middle East and North Africa surged by 20% in value and over 50% in volume
A study found that Middle Eastern consumers are increasingly prioritising sustainability, with 9 out of 10 adults willing to take action
Parkin to give more shares to retail investors in its IPO
Dubai, UAE - Parkin Company on Tuesday announced an increase in the number of shares offered in the UAE Retail...The UAE Retail Offer has been increased to 89,964,000 ordinary shares from 74,970,000 ordinary shares
Parkin is expected to commence trading on the DFM on March 21, 2024, under the symbol “PARKIN”
