Americana Restaurants posts profit.
The annual net profit in 2022 was US$470 million.Company News Business
US allies warn Israel against ‘catastrophic’ Rafah operation
The leaders of Australia, Canada and New Zealand on Thursday warned Israel against a potentially "catastrophic" ground offensive in the...Business
‘Introducing insurance share to beneficiaries is important privilege’
ABU DHABI, UAE - Insurance shares distributed among beneficiaries is one of the most essential privileges in the Federal Law...The authority said that shares are distributed to the daughter, sister or mother if they are widowed or divorced and to the son or brother if they are disabled.
Pension shares are distributed to the heirs once the pensioner is deceased, given that those heirs do not earn a salary or receive their own pension.
ADDED digitally links freezones in Abu Dhabi
ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) has completed the e-link project with four freezones...The e-link with freezones helps in providing info and data of the beneficial owner of economic establishments in line with laws and regulations in the UAE.
They will enhance the country status in following highest level of international standards of transparency and governance.
Gas price cap divides EU energy ministers’ meeting
BRUSSELS, BELGIUM - EU energy ministers met Thursday to debate measures to mitigate the energy crunch in Europe but were...They were to discuss a proposal by the European Commission, unveiled just two days earlier, that would set a cap on gas prices at 275 euros per megawatt hour.
Many members complained that the plan comes with such conditions attached that it was designed never to be used.
Stocks rise, dollar slips as Fed signals softer rate hike pace
Wednesday's much-anticipated minutes showed most US central bank chiefs felt smaller increases would "likely soon be appropriate" as the economy...Bets were growing on officials announcing a 50-basis-point lift at their December gathering, down from four straight 75-point hikes
Investors are keeping a close watch on China after it announced new Covid cases on Thursday as authorities worked to curb the spread with snap lockdowns
Journalists have much to lose if Twitter dies
Journalists have been tied to the platform for announcements by politicians and celebrities -- most famously the dreaded late-night and...There has been fevered talk of the platform's imminent demise since billionaire Elon Musk took over last month and began firing vast numbers of staff
End of the Twitter could spur a return to "more traditional ways of researching and reporting", said Mathew Ingram, digital media specialist at the Columbia Journalism Review
KEZAD Group breaks ground on UAE’s largest e-commerce fulfilment centre
The 252,000 square metre fulfilment centre facility is being designed and developed by KEZAD Group under a Build-to-Suit agreement.The 252,000 square metre fulfilment centre facility is being designed and developed by KEZAD Group under a Build-to-Suit agreement
KEZAD Group is the integrated trade, logistics, and industrial hub of Abu Dhabi and a fully-owned subsidiary of AD Ports Group
KIPCO merges with QPIC
It will now trade on Boursa Kuwait under KPROJ.KIPCO's authorized, issued and paid-up capital now stands at $1.55 billion distributed over 5.048 billion shares
KIPCO's market capitalization is now over $1.94 billion, it said, adding that the combined portfolio would further diversify revenue streams
AD Ports to conduct ‘joint training exercise’ at Delma Port
Abu Dhabi, UAE— AD Ports Group will conduct a joint training exercise at Delma Port on November 24. The exercise,...Thirteen government entities are scheduled to participate in the joint exercise, in addition to some entities from the private sector
It will enhance the capabilities of AD Ports Group and other participating entities for addressing potential risks in incidents that require a coordinated response
North Africa takes lion’s share as fintech and sustainability lead MENA startup scene
Fintechs remain popular with investors mainly due to their scalability, rapid market growth and dependency of people on technology, says...Fintechs remain popular with investors mainly due to their scalability, rapid market growth and dependency of people on technology, says Theresa Doan of SEE Institute.
A total of $230 million in funds are focusing on MENA-based businesses and an additional $60 million for female investors in Africa, a report highlights
ECI, African TIA sign pact
They will strengthen trade ties and boost exports between the two markets.The deal follows the MoU each entity signed in March last year to enhance the global competitiveness of exporters by improving their awareness of export credit.
Trade between the UAE and Africa has registered steady growth in recent years, with the Emirates becoming the fourth-biggest investor in Africa last year.
