Family offices: UAE becomes preferred destination as world’s ultra-rich invest in venture capital funds
Family-owned businesses in the Middle East contribute 60 percent of the GDP and employ more than 80 percent of the...Family-owned businesses in the Middle East contribute 60 percent of the GDP and employ more than 80 percent of the workforce, says a PwC Middle East Family Business survey.
Dubai ranks first in the MENA region and tenth globally in Global Venture Capital FDI Projects, according to the Global Venture Capital FDI Ranking 2022
Lufthansa to hire 20,000 employees
Lufthansa had 108,000 employees at the end of September.Lufthansa made huge losses when Covid brought global air travel to a halt but a rebound in demand has helped it return to profit this year.
In the third quarter, the airline group -- which also includes Eurowings, Austrian, Swiss and Brussels Airlines -- reported a healthy profit.
Global economic woes take toll on GCC contracts
High inflation and the West's sanctions on Russia for its Ukraine invasion besides the supply chain disruptions caused by China's...The increase in benchmark rates by global and regional central banks to combat runaway inflation also affected project funding.
The UAE overtook Saudi Arabia as the largest projects market in the GCC during Q3-2022.
Masdar Green acquires properties
The 3 Pearl rated properties in Masdar City are worth $254m.The acquisition follows a $200 million green loan secured from First Abu Dhabi Bank (FAB) in January to help finance the REIT’s growth.
Masdar Green REIT was established by Masdar as an investment vehicle for professional investors to invest in a sustainable, income-generating real estate portfolio in Masdar City.
Dubai Aerospace acquires Sky Fund Irish I
Sky Fund I leases aircraft to 14 airline customers.Next-generation technology aircraft represent more than 90 percent of the acquired portfolio.
DAE's owned portfolio will now comprise nearly 50 percent of fuel-efficient, next-generation aircraft.
QatarEnergy inks 27-year gas supply deal with China firm
The deal "marks the longest gas supply agreement in the history of the LNG industry", said Saad Sherida Al-Kaabi, Qatar's...QatarEnergy will send 4 million tons of liquefied natural gas annually from its new North Field East project to China Petroleum and Chemical Corporation.
The Chinese company's chairman revealed that it had also requested a full share of the North Field South project that is dominated by Western energy giants.
ADNOC Drilling to buy 3 rigs
The company bought four rigs between May and Aug. this year.The three brand new high-specification offshore jack-up drilling units (rigs) will be purchased for AED1.17 billion ($320 million).
Since listing on the Abu Dhabi Securities Exchange in October 2021, ADNOC Drilling has expanded its fleet from 95 to 108 owned rigs, as of 30th September.
FIFA World Cup: Coca-Cola Middle East launches locally produced 100% rPET bottles
350ml Coca-Cola, Sprite and Fanta bottles, plus 500ml Arwa water bottles, will be available to consumers.350ml Coca-Cola, Sprite and Fanta bottles, plus 500ml Arwa water bottles, will be available to consumers
The Coca-Cola Company has has been an official sponsor of the FIFA World Cup since 1978
Nespresso chief confident inflation won’t hit sales
Inflation has hit Europe hard, forcing people to cut down expenses. But Nespresso boss Guillaume Le Cunff says their coffee...Inflation is running at 10.6 percent in the eurozone and household budgets are under pressure
The Frenchman said that while Europe was Nespresso's historic market, it was still in expansion mode in North America
Disney sacks CEO Bob Chapek
It has brought back former CEO Bob Iger to take back the reins.The change, a dramatic turn of events for one of the largest media conglomerates in the world, was effective immediately, Disney said in a statement
Chapek spent two years as CEO, a period that saw Wall Street concerned about rising expenses at the company
This is a temporary backup site for TRENDS MENA while our primary website is being restored following a regional disruption affecting Amazon Web Services cloud infrastructure in the GCC.
ADNOC Distribution 2025 dividend $700m
The company had reported EBITDA of $1.17 bn in 2025.
Empower okays $119.1m H2 2025 dividend
The dividend is equivalent to 43.75% of paid-up capital.
Alujain widens 2025 loss
The increase in loss is due to impairment charges, weaker prices.
Masar 2025 net profit $262m
Higher land plot sales boost revenue and operating income.
Tasnee’s 2025 losses deepen
The petrochemicals' company's revenue also fell 17.7 percent.
