Borouge Q1 net profit $281 million
The total dividend paid to shareholders in 2024 $1.3bn.Company News Business
Aramco, unit and Sinopec ink $4bn deal
The two companies will establish a joint venture company.Company News Business
Abu Dhabi launches technology investment company MGX
ABU DHABI, UAE – The Artificial Intelligence and Advanced Technology Council (AIATC) announced on Monday the creation of MGX, a...Mubadala and G42 will serve as foundational partners in the creation of the new company.
MGX will invest to accelerate the development and adoption of AI and advanced technologies.
Jafza reports 28% year-on-year growth in 2023 of new Indian companies
DUBAI, UAE – Jebel Ali Free Zone (Jafza) is a major contributor to the growing trade between India and the...Over 190 new Indian businesses and a total of more than 1,500 Indian companies have set up business in Jafza.
This move aims to assist Indian businesses in accessing markets across the Middle East, Africa, and Europe.
CI Capital 2023 revenue $134m
The firm’s performance was fueled by strong growth.The group’s total on-balance sheet financing portfolio ended the year at US$373 million.
Corplease, the group’s leasing arm, saw its revenue rise 70 percent to reach US$74 million.
Bitcoin hits fresh record above $72,000
Bitcoin hit a fresh record above $72,000 on Monday as demand for the cryptocurrency picks up amid optimism that the...The virtual unit struck $72,234 as dealers also eyed an upcoming industry event that traditionally boosts bitcoin's price
The rally was helped by news that Britain's Financial Conduct Authority had said it would allow the creation of crypto-related securities
UAE’s e-commerce sector projected to earn $9bn revenue in 2024
Dubai, UAE - The UAE's online shopping market is gearing up for unprecedented growth, with revenue projections hitting $9 billion...One of the key drivers of this expansion is the emerging trend of "metaverse e-commerce," a segment anticipated to experience a 37% growth from 2024 to 2030
The top performers in 2023 were Toys, DIY, and hobbies, leading with 29% market share, closely followed by fashion at 27%
United Arab Bank elects new chairman
Sheikh Mohammed bin Faisal will now lead the bank.The appointment of new chairman reflects the bank's and its shareholders' pledge to be at the forefront of innovation and growth
He has wide experience of more than 30 years in many industries, including the financial, banking, real estate, and tourism sectors
Shifting dietary trends boost MEA’s protein market
Rise of flexitarian and vegan diets in the region is driving demand for alternative proteins, with the market expected to...Rise of flexitarian and vegan diets in the region is driving demand for alternative proteins, with the market expected to cross $2.71 billion by 2029, says a report.
Disruptive tech leads alternative protein firms' growth, positioning the UAE as a future hub for sustainable food production, adds Data Bridge Market Research.
China Eastern Airlines to operate three weekly fights between Shanghai and Riyadh
Riyadh, Saudi Arabia - The Saudi Air Connectivity Program (ACP) and China Eastern Airlines have entered into a strategic partnership...The new route is set to operate with an A330-200 aircraft, offering an annual capacity of 35,880 inbound seats
Both parties anticipate increased trade, people-to-people exchanges, and dialogues across various sectors through this 'Air Silk Road' initiative
Cryptocurrency Ether witnesses meteoric rise since launch
NEW YORK, US – Bitcoin has captured the limelight in recent weeks as it surged to a new record high, yet...Launched in 2015, Ether is by far the second-largest digital currency in terms of total value, now estimated at over $460 billion.
Bitcoin's rise has been well-documented, but Ether's has been even more impressive, surging almost 72 percent year to date.
Non-Jordanian investors own 47% of ASE market value as of February 2024
AMMAN, JORDAN – Data released by the Amman Stock Exchange reveals that non-Jordanian investors bought shares worth US$12.5 million (JD8.9...From the beginning of 2024 till end of February, non-Jordanian investments in the stock exchange totaled $21.8 million in purchases.
The contribution of Arab investors in the non-Jordanian group accounted for US$11.7 million or 93.6 percent in February.
