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UBS reports lower net profit in 2023
The Swiss government pushed it to buy Credit Suisse last year.Business
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UAE, Malaysia sign MoU to enhance ties in digital-infrastructure sector
Abu Dhabi, UAE-- The UAE and Malaysia have signed a memorandum of understanding (MoU) to boost investment cooperation in the...The agreement envisages setting up collaboration by developing bilateral relationships between public and private organisations
The trade ties between the UAE and Malaysia have climbed up, with non-oil trade volume surpassing $2.22bn in H1 of 2023
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WEF24: Investor confidence fuels sustainable growth
GFH Financial Group has made significant investments in healthcare, education, logistics, and private lending in Saudi Arabia and the UAE,...GFH Financial Group has made significant investments in healthcare, education, logistics, and private lending in Saudi Arabia and the UAE, its CEO tells TRENDS in Davos.
To counter potential US recession and inflation, the group's strategy emphasizes investing in digital payments, mobile apps, and AI technologies for robust growth.
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UAE, KSA lead as tech and energy drive IPOs in GCC
The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both...The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both state-owned and private offerings.
ADNOC Gas' large IPO underscores the region's market robustness, while the technology sector reclaims the lead in IPO proceeds, showcasing dynamic market strength.
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Vodafone Qatar 2023 profit up
The 2023 net profit of Vodafone Qatar increased to $148 million.Vodafone Qatar’s net profit for the nine months ending September 2023 reached US$107 million.
This reflects a growth of 17.3 percent compared to the same period in 2022, mainly driven by higher EBITDA.
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Microsoft lays off 1,900 staff
The move comes after Activision Blizzard gaming buyout.Alongside the layoffs, Blizzard president Mike Ybarra said he was leaving the company.
Microsoft launched its blockbuster takeover in January 2022, an acquisition that made it the world's third-largest gaming company by revenue.
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EDGE bags another big order
The group will supply 200 unmanned helicopters to UAE defense ministry.The unmanned VTOL systems will be manufactured by Switzerland-based EDGE entity, ANAVIA.
In November 2023, EDGE acquired a 52 percent majority shareholding in ANAVIA, which manufactures unmanned helicopters.
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NEOM announces its new luxury ecotourism destination Zardun
NEOM, SAUDI ARABIA - NEOM's Board of Directors has announced the launch of Zardun - an exclusive resort and natural...This move will help in supporting NEOM's efforts to develop luxury ecotourism in the Kingdom.
Zardun Nature Resort will feature four ultra-luxurious buildings that will blend with the landscape.
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UAE plans to issue bonds, Sukuk valued at $1.3bn in Q1 2024, says official
HONG KONG - UAE Ministry of Finance Undersecretary Younis Haji Al Khoori announced that the ministry's issuance of bonds and...The Islamic Treasury Sukuk launched in 2023 and valued at US$299 million experienced robust demand, with bids received worth US$2.2 billion.
The UAE is Hong Kong's largest trading partner in Middle East, with non-oil trade reaching $6 billion (AED22.2 billion) in the first half of 2022.
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Jabal Omar secures $509m Murabaha
The financing agreement was signed with Al Rajhi Bank.The term of the facility is two years, Jabal Omar said in a statement to Tadawul, according to Argaam. Â
The facility will be used to accelerate the completion of project phases under construction and pay financial obligations.Â
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Deals worth $26.66 billion signed at Real Estate Future Forum 2024
Riyadh, Saudi Arabia -- Deals worth more than $26 billion were signed at the Real Estate Future Forum 2024, which...Over 50 agreements and memoranda of understanding (MoUs) were signed during the event that focused on discussing new innovations.
The event was attended by 300 speakers from 85 countries, including government officials, private-sector representatives, economists, investors and decision makers.