The dip occurred amid lower production during factory upgrades.
The property giant attributes loss to falling sales and shrinking profit.
The bank's profit got a boost due to higher interest rates.Shareholders would receive a payout of around 40% of the group's underlying profit, divided equally between cash dividends and share buybacks
Central banks have hiked interest rates worldwide in an effort to tame runaway inflation.
Abu Dhabi, UAE--Abu Dhabi-baed Aldar Properties will make a debut into Dubai's lucrative real estate market after it signed an...The joint venture will develop new communities in three locations across an area of 38.2 million sqft (3.55 million sqm).
The new communities will be located in the suburban heart of Dubai along the E311 and E611 corridors in close proximity to several residential communities.
The post-tax figure was more than double the amount.Shell said it would return $4 billion to shareholders and significantly lift its dividend following the record earnings
Shell is looking to reinvent itself under the company's former renewables boss Sawan, who replaced Ben van Beurden
Riyadh, Saudi Arabia--The Saudi Authority for Industrial Property and Technology Zones (MODON) signed yesterday a partnership agreement to establish, develop...The warehouses will be built in the First Industrial City in Jeddah.
The warehouses are expected to provide fast and temporary logistical solutions to support industrialists and entrepreneurs.
Adani himself issued a video statement on Thursday in which he insisted that the "fundamentals of our company are very...Adani's empire has lost more than $100 billion following explosive allegations of accounting fraud last week by US short-seller Hindenburg Research that the firm has rejected
According to Hindenburg Research, Adani has artificially boosted the share prices of its units by funnelling money into the stocks through offshore tax havens
Vienna, Austria--A committee of major oil producers recommended Wednesday to maintain the cartel's current reduced output strategy, as the global economic...The 13 members of the OPEC led by Riyadh and their 10 allies led by Moscow agreed last October to reduce output by two million barrels per day until the end of this year.
Oil prices spiked following Russia's invasion of Ukraine in February 2022
- After a months-long dispute between Qatar Airways and Airbus, the two announced on Wednesday the end of a $2.5 billion...
The airline had sought about $2.5 billion in damages and penalties before a British court where the case was due to be heard from June
The settlement was discussed when France's Finance Minister Bruno Le Maire met with Qatar's emir, Sheikh Tamim bin Hamad Al-Thani, in Doha on Sunday
There is a rise in the interest of foreign investors in the MENA startup ecosystem as their share increased from...There is a rise in the interest of foreign investors in the MENA startup ecosystem as their share increased from 20 percent in 2021 to 47 percent in 2022, reports suggest.
A staggering 61 percent of all daring loans were invested in financial technology between 2018 and 2022, reflecting the rising tide of risky spending across the region
The farms will have a capacity of 1.1m kg of crops per year.The agreement aims to optimize natural resources through indoor vertical farming, which requires no arable land.
The partnership will allow for sustainable, local sourcing of high-quality crops all year round, grown with AeroFarms' AgTech platform.
It was signed with Integrated Telecom Company and TAWAL.The 15-year design, build and operate contract covers open-access services for visitors, tenants, and residents of Diriyah.
In addition, more than 80 telecommunication towers are expected to be erected over the next three years.
