Boeing expects Q1 hit from MAX troubles
The airline backs intensified oversight from the FAA.Business
Bitcoin crosses $50,000 for first time since 2021
The cryptocurrency has enjoyed a strong run-in recent month, fueled by expectations US lawmakers would allow the creation of exchange-traded...Business
Private school operator Taaleem offers 25 percent stake in IPO
Taleem set the price range at AED2.95 ($0.80) and AED3 per share, implying a market capitalization at time of listing... The final offer price is expected to be announced on 18 Nov. 2022. Listing of the shares and trading on DFM is expected to begin 29 Nov. 2022.
The company is seeking to raise total capital of $204 million from the IPO, whose net proceeds will be used to expand its premium K-12 segment, Taaleem said in a statement.
Emirates H1 profit at US$1.1bn
Revenues in H1 of 2022-2023 surged 131% to $13.7 billion.Emirates has bounced back into the black after its losses during the pandemic, the airline said.
The airlines operations recovery accelerated as more countries eased and removed travel restrictions.
Burjeel’s nine-month net profit $55.83m
The company's revenue grew 17.8 percent year on year.The company said the net profit increased mainly due to the Group’s service mix "delivering improved yield and utilization across the network".
The company raised AED1.1 billion ($299.49 million) after offering a 11 percent stake in an IPO, which was oversubscribed 29 times to over AED32 billion.
e& commits to net-zero operations by 2030
The global technology and investment conglomerate pledged to achieve net-zero for Scope 1 and 2 emissions.The global technology and investment conglomerate pledged to achieve net-zero for Scope 1 and 2 emissions
It will focus on reducing its carbon footprint through improving energy efficiency and sourcing renewable energy among other initiatives
Agthia’s profit rises by 14%
The food firm's revenue shot up to $260 million in Q3.Its net profit was up 14 percent to $11 million during Q3 of 2022
Agthia lasty year also acquired Egypt’s meat producer Atyab as it seeks to expand in the country’s consumer packaged goods industry
Hackers demand $10 mn for stolen Australian health records
Medibank, Australia's largest private health insurer, confirmed this week that hackers had accessed the information of 9.7 million current and...Medibank hack and an earlier data breach impacting nine million customers at telecom company Optus has raised questions about Australia's ability to repel cyber criminals
The group behind the attack appears to be pressuring Medibank by hunting for the most potentially damaging personal information within the records
US unveils green transition scheme for developing nations
Intended to support the transition to renewable energy in developing nations, the United States launched a partnership with private funds...Climate campaigners have criticized the US scheme, launched a day after a UN expert panel said carbon credits should not be used to "offset" emissions
Companies, like Microsoft and Pepsi who have expressed interest in the plan, would invest in renewable energy projects, allowing countries to show reductions in emissions
AD Ports, IDB ink deal to enhance UAE-Iraq trade flows
Abu Dhabi, UAE - AD Ports Group and International Development Bank (IDB) have signed a deal to review opportunities for...IDB aims to provide its services to corporate clients and support a range of key infrastructure projects in UAE and Iraq.
The UAE and Iraq have continued to strengthen trade ties in 2022, with several trade agreements and development deals.
Qatar has thousands of World Cup rooms available: Accommodation official
There are at least 25,000 rooms free even during the peak days of the World Cup, expected between November 24...For accommodation bookings, neighbouring Saudi Arabia has been the top market, followed by the United States, Mexico, Argentina, India, Britain, Brazil, Canada, Iran and Japan.
Qatar is the smallest country to hold the World Cup, leaving many foreign fans worrying about prices and the availability of rooms.
Germany bans chipmaker’s sale to Chinese firm
Fears have been growing in Europe's economic powerhouse about an over-reliance on Beijing, and letting critical infrastructure fall into the...Chinese company Sai MicroElectronics had been seeking to buy the Dortmund factory of Elmos through its Swedish subsidiary Silex.
The German government had rejected the planned takeover because "the purchase could endanger the order and security of Germany.
