HSBC posts record profit of US$30.3bn
The bank would initiate a share buyback of up to US$2 billion.Business
Bank plays crucial role in funding sustainable future
"We continue to capitalize on the promising opportunities in this market through innovative offerings and solutions, while strengthening our substantial...Business Banking & Finance
Investcorp set to invest $1bn in GCC real estate over next five years
The investment in the Dammam warehouse will bring the value of Investcorp’s global warehousing logistics investments to over $4 billion.
Saudi ministry signs hospitality, catering MoUs with 3 firms
Riyadh, UAE---Saudi Arabia's Ministry of Investment has signed MoUs with three companies to develop and market investments in hospitality, tourism,...The MoUs were signed with Kadana Company, Lifestyle Development Company and Jusoor Al-Khaleej Company.
The investment ministry is keen to attract investments and enhance their flow into the national economy in various sectors, SPA reported.
UK data shows retailers boosted by higher Christmas prices
London, United Kingdom--British retailers won a boost from higher prices over the key Christmas trading period but the volume of goods...In December, revenue jumped almost seven percent from a year earlier largely thanks to surging food prices
UK inflation dipped last month to 10.7 percent but remains close to 40-year highs, forcing consumers to switch to cheaper products
DIFC hosts over 250 companies managing assets worth $450bn
The contribution of financial companies operating from DIFC to the financial services sector in the country exceeded 13% of the...The contribution of financial companies operating from DIFC to the financial services sector in the country exceeded 13% of the nominal GDP of Dubai during 2021, Amiri said
The DIFC has already been ranked first in the Middle East and among the top 20 globally on the Global Financial Centres Index for 2022
MENA IPO Summit to attract top industry experts
Dubai, UAE-- Top industry experts will share first-hand knowledge of the IPO process and the opportunities and challenges of becoming...The inaugural summit will shed light on the strong impetus and promising prospects of the initial public offerings (IPOs) sector in Dubai.
It will also showcase a roadmap for startups and SMEs in Dubai, including expertise around its regulatory environment, business culture and capital opportunities
Top US court backs WhatsApp suit over Pegasus spyware
WhatsApp sued the Israeli technology firm in 2019, accusing it of targeting approximately 1,400 devices with spyware to steal information...Pegasus gives its government customers -- which have allegedly included Mexico, Hungary, Morocco and India -- near-complete access to a target's device
WhatsApp sued Pegasus in 2019, accusing it of targeting approximately 1,400 devices with spyware to steal information from people using the app
Rolls-Royce sells record cars
Sales last year advanced eight percent to a record 6,021 cars."2022 has been a momentous year for Rolls-Royce Motor Cars," said chief executive Torsten Muller-Otvos.
Orders for Spectre, its first all-electric car that launches later this year, beat expectations, the company reported.
European wages to increase at ‘very strong’ rate, says ECB
"Robust labour markets" alongside "increases in national minimum wages" and "trade unions demand(ing) higher wage increases" are also set to...Wage growth over the next few quarters is expected to be very strong compared with historical patterns, the ECB said.
In December, inflation in the eurozone dipped under the symbolic figure of 10 percent, after 18 months of uninterrupted increase
Ronaldo to earn $214 million to promote Saudi World Cup bid
The oil-rich kingdom, along with Egypt and Greece, is considering a bid to host world football's 2030 showpiece tournament, and...The arrival of the former Manchester United, Real Madrid and Juventus player came just weeks after neighbouring Qatar became the first Arab nation to host the World Cup.
Al Nassr has nine Saudi league titles but never won the Asian Champions League, unlike four-time winners Al Hilal and Al Ittihad, who have lifted the trophy.
UAE remains the most innovative Arab economy
The Global Innovation Index ranks the countries on 81 indicators across seven categories, including Business Sophistication, Infrastructure and Technology Outputs...GII 2022 said this edition’s thematic focus on the future of innovation-driven growth provides a perspective on whether stagnation and low productivity growth are here to stay.
It tracks the most recent global innovation trends against the background of an ongoing COVID-19 pandemic and slowing productivity growth.
