stc 2023 revenues is $19.28bn
Gross profit for 2023 rose 1.1 percent compared to 2022.Company News Business Economy
SCC committee discusses issues related to Sharjah’s economy and tourism
SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...Business Economy Tourism
Nike shares soar as profits top estimates
Profits for the Q1 came in at $1.3 billion.Profits for the quarter ending at November 30 came in at $1.3 billion, the same as in the year-ago period while revenues jumped 17 percent to $13.3 billion
In the most recent quarter, Nike's gross margin declined compared with the prior quarter due to higher markdowns, especially in North America, Nike said.
Musk doubtful about reliability of Twitter CEO poll
In the poll results which were posted on Monday, 57 percent of voters, or 10 million votes, favored Musk stepping...In the poll results which were posted on Monday by the Twitter's new CEO, 57 percent of voters or 10 million votes favored Musk stepping down
Polling company HarrisX on Tuesday tweeted out their own poll of Twitter users, in which 61 percent of respondents voted to keep Musk as CEO
Sonatrach signs deal with VNG AG to boost ties in hydrogen sector
Algiers, Algeria-- Sonatrach of Algeria and VNG AG of Germany have signed a memorandum of understanding for the construction of...According to the Algerian authorities, the proposed plant will have a production capacity of 50 MW
Sonatrach said the agreement will explore opportunities for cooperation in the field of hydrogen and of green ammonia to be exported to Germany
AstraZeneca partners with G42
The two will manufacture 'innovative' drugs in Abu Dhabi.The agreement focuses on collaboration in four key areas including localizing innovative industries, research and development, innovation and sustainability at a global scale
It cements the emirate’s position as a hub for research and innovation in life sciences and is the latest in a series of longstanding partnerships with key players in the industry
‘OPEC+ predictions more accurate as it focuses on market fundamentals and stays away from politics’
In all economic spheres from financial to commodities, credibility is a key ingredient to building the trust and confidence that...Playing politics with statistics and forecasting and not maintaining objectivity tend to backfire and result in loss of credibility, says Saudi Energy Minister Prince Abdulaziz
OPEC+ has maintained its demand figures for 2021 while some others have grossly and consistently underestimated historical and current demand resulting in discrepancies
GCC cautious as more cyber attacks feared in 2023
Businesses in the region are working closely with their governments to get cloud security solutions implemented to reduce the success...Increased use of cloud-based apps and software has been observed in the GCC due to the businesses undergoing digital transformation
Businesses in the region are working closely with their governments to get cloud security solutions implemented to reduce the success rates of phishing attempts
European Union to end two Amazon inquiries after agreement
Amazon, and its software, will be forbidden from analyzing non-public third-party seller data, and will treat all sellers equally when deciding...EU vice-president Margrethe Vestager announced Amazon's commitments and hailed them as a victory for smaller retailers selling products on Amazon's online marketplace.
An Amazon spokesperson said the firm, which operates the world's biggest online store, was pleased to have responded to the European Commission's concerns.
Nearly 2,000 business executives attend World Corporate Summit in Dubai
DUBAI, UAE - Nearly 2,000 global business executives and investors attended the World Corporate Summit in Dubai to share in...The business leaders were also building partnerships with over 100 roundtables, 20 networking sessions.
The summit took a 360-degree view at ways to improve the world economy.
Antibiotics shortages hit nations as surging illnesses spur demand
Hospitals in many countries have come under pressure from a rising number of illnesses including what has been dubbed a...But ramping up production of antibiotics has proved difficult for drug makers, particularly for cheap generic medicines that offer a slender profit margin.
Pharmaceutical companies who had cut back production because of the previously falling demand are now scrambling to meet skyrocketing orders, causing delays.
US lawmakers release $1.7 trillion spending bill to avert shutdown
WASHINGTON, UNITED STATES - US lawmakers early Tuesday released the text of a US$1.7 trillion funding bill which Congress hopes to...The bill includes $858 billion in defense funding and will also provide $44.9 billion in emergency assistance for Ukraine.
It also includes $772.5 billion for non-defense discretionary programs, including $118.7 billion for Veterans Affairs medical care.
