Airbus, Leonardo and Thales reported moving towards European space firm
Rome, Italy -- European aerospace firms Airbus, Leonardo and Thales could seal an accord this year to set up a...Business
Musk’s title of richest person challenged by Oracle’s Ellison
New York, United States - Billionaire Elon Musk is at risk of losing his title of world's wealthiest person to...Business
Amanat FY 2023 revenue $195m
The company's revenue grew by 40 percent year-on-year.Amanat announced a proposed dividend of US$13 million for FY 2023, with additional interim dividends planned for 2024.
The balance sheet reached US$158 million in cash at year-end, and low leverage provided significant capital for deployment.
UAE earns first spot in Global Entrepreneurship Monitor 2024 report
Abu Dhabi, UAE-- The United Arab Emirates has been ranked first globally for the third consecutive year in the Global...The report said the UAE was the best place to start and conduct new business ventures, surpassing many advanced economies
The report put Saudi Arabia on the third spot, Qatar at fifth, and Estonia South Korea, Switzerland, and China following them
Japan to restart funding to UN Palestinian refugee agency
Tokyo, Japan--Japan is preparing to resume funding to the UN's crisis-hit Palestinian refugee agency (UNRWA), which coordinates nearly all aid...Japan like many other countries paused funding after Israel claimed that 12 of UNRWA's 13,000 Gaza employees were involved in the deadly October 7 Hamas attack
The UN has launched both an internal and an independent investigation but has said Israel has not provided it with any evidence to support the claim against the workers
Arab Bank for Economic Development in Africa expects financing to touch US$2.5bn
Abu Dhabi, UAE--The Arab Bank for Economic Development in Africa (BADEA) expects the bank's annual financing to reach US$2.5 billion...The annual financing of the bank is witnessing a steady increase, rising from US$2 billion in 2022 to US$2.23 billion in 2023
Nearly 30 percent of the bank's financing in the last 10 years was allocated to sustainable development projects in Africa
UHNWIs drive Dubai’s luxury real estate growth
"The ultra-high-net-worth individuals (UHNWIs) have transformative impact on the real estate market. These individuals, with their discerning tastes and substantial...UHNWIs significantly contribute to the growth of Dubai's luxury property sector, driving demand and innovation.
Sales of homes priced at $10 million or more in Dubai reached $7.6 billion in 2023, outperforming global cities.
Embracer sells Borderlands
The sale is expected to be completed by June-end .The sale would reduce the company's net debt by around $300-327 million, the group said in a statement
Gearbox will join a Take-Two line-up that includes the likes of "Grand Theft Auto" maker Rockstar Games and 2K
US stocks open mixed ahead post fresh economic data
New York, US- Wall Street stocks saw a mixed start to Thursday, as traders digested the latest economic data ahead of...The broad-based S&P 500 Index was flat at 5,247.74, while the tech-heavy Nasdaq Composite Index retreated 0.2 percent to 16,363.03
The Commerce Department made a surprise upward revision to fourth quarter GDP growth, to an annual rate of 3.4 percent
Abu Dhabi Chamber sets up working group to support startups, SMEs
ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for...This initiative aims to support and represent the interests of startups and SMEs in the region.
The goal is to make Abu Dhabi the top choice for business in the Middle East and North Africa by 2025.
TAQA, JERA sign pact with SATORP to develop plant in Saudi Arabia
ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...They will develop a greenfield industrial steam and electricity cogeneration plant for Amiral petrochemical complex.
The Amiral petrochemical complex is expected to house one of the largest mixed-load steam crackers in the Arab Gulf region.
Rise in remittances hikes demand for Jordanian dinar, says chamber of commerce
AMMAN, JORDAN – Rising remittances from the Kingdom’s citizens working abroad has contributed to increasing demand for Jordanian dinar. Exchange...There are positive indicators suggesting a stabilization in Jordan’s economy.
Presently the currency exchange sector comprises 250 firms across Jordan.
