e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.Company News Business
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...Business
Insurers need to gear up for electric cars: Swiss Re
The market for the greener vehicles is expected to grow rapidly in response to consumers' worries about climate change, putting...Traditional vehicle insurance models are no longer enough to accurately capture the overall risk, a study by Swiss Re said
Electric cars are quieter than internal-combustion vehicles, presenting a risk for pedestrians who don't hear them coming in noisy urban settings
Failed crypto giant FTX has salvaged $5 bn in assets
FTX, once the world's highest profile crypto exchange, collapsed spectacularly in November leaving nine million customers in the lurch and...FTX lawyer Andrew Dietderich said that the company was "well underway" on plans to sell other investments that had a book value of $4.6 billion
FTX and its sister trading house Alameda Research went bankrupt in November, dissolving a virtual trading business that at one point had been valued by the market at $32 billion
US operations and flights not affected by system outage: Etihad Airways
Abu Dahbi, UAE--Etihad Airways on Wednesday said its USÂ operations and flights are not affected by the system outage at the...The airline said it was monitoring the situation and would inform customers if there is a change in its operations
U.S. flights were slowly resuming departures and a ground stop was lifted after the Federal Aviation Administration (FAA) scrambled to fix a system outage overnight
World Security, Tansworld sign pact
The partnership will strengthen workforce in the UAE.The two companies will collaborate to create overseas employment opportunities by recruiting, training and developing skilled professionals in the Indian subcontinent
Professionals who meet the standards of the UAE’s job market will be identified from this pool for suitable employment opportunities in the UAE
Europe looks at GCC for LNG supplies amidst crisis
The year 2022 witnessed several deals involving Gulf nations and leading natural gas consumer countries that seek to secure their...The year 2022 witnessed several deals involving Gulf nations and leading natural gas consumer countries that seek to secure their LNG supplies in both near and distant future.
In November-2022, Qatar and China signed one of the largest ever LNG deals inking a USD 60 Bn LNG supply deal for 27 years.
Saudi WEF delegation to highlight progress under Vision 2030
It aims to enhance global cooperation and design joint solutions to today’s geopolitical, social, economic, and human development challenges. Saudi’s...Prince Faisal bin Farhan Al Saud, Minister of Foreign Affairs of the Kingdom will head the Saudi delegation.
During their participation at WEF23, the delegation will outline progress achieved under Saudi Vision 2030.
Emirates NBD issues Dirham bond, first by UAE firm in 10 years
Dubai, UAE-- Emirates NBD has announced the successful pricing of its inaugural AED1 billion ($272 million) dirham-denominated bond, the first...The three-year bond saw strong demand, with the order book peaking at over AED1.65 billion.
The issuance is the bank's first dirham-denominated bond since the Ministry of Finance created a medium-term yield curve.
Dior and Louis Vuitton name new chief executives
Paris, France--French luxury group LVMH announced a leadership shuffle on Wednesday, naming new chief executives at major brands Christian Dior Couture...LVMH said in a statement that Delphine Arnault will become CEO of Dior perfume and fashion house
Bernard Arnault said in a statement that his daughter's appointment is the "continuation of a career of excellence in fashion and leather goods"
EU warns TikTok chief to respect data privacy laws
TiKTok chief executive Shou Zi Chew held official talks for the first time with EU vice presidents Margrethe Vestager and...TikTok has come under fierce Western scrutiny in recent months over concerns about how much access Beijing has to user data
Last month, TikTok admitted that ByteDance staff accessed data from the app to track journalists in a bid to identify the source of leaks to the media
Meta to disallow ads targeted at teens based on gender
The company formerly known as Facebook is facing increasing pressure and fines to curb its practice of delivering narrowly targeted...Meta said that the changes reflected feedback from parents and experts and would comply with new rules in several countries on content geared at young people
After a long legal tussle, Meta was handed a 390-million-euro ($413-million) fine last week as part of a years-long tussle with the European Union over advertising
