Hermes profit soars 28 percent
The luxury giant posted a profit of US$4.6bn in 2023.Company News Business
UAB net profit grows 65%
Total assets grew 25% in 2023 on strong growth in loans, advances.Company News Business
Almarai posts profit in Q3
The Saudi firm's net profit rose 10% to $372m.However, the company's stock took a dip, falling 4.15 percent to end the session at SR53.10
The company said positive revenue growth was also witnessed across all categories after the removal of COVID-19 movement restrictions and the re-opening of educational institutions
Chirpy commentator enlivens Qatar’s football culture
Khalil al-Balushi, one of Qatar's top football commentators, brings much-needed life to Qatar's subdued football culture.Born in Oman and based in Qatar for 16 years, Balushi says all Arab football commentators "are a little bit noisy"
Since the 1990s, members of the royal family started pumping some of Qatar's natural gas riches into local clubs, which now vie for the best domestic players and foreign stars
e& forays into the metaverse
The move marks a significant achievement for the GroupThe move marks a significant achievement in the Group’s transformation journey to a global technology and investment conglomerate
Metaverse technology is in the early incubation stages, given that it needs high-bandwidth and low-latency communications to work at scale
French energy giant offers pay talks in bid to end fuel strike
Vehicle owners have faced increasingly long waits to fill up after two weeks of strikes by workers demanding higher wages...It runs a network of around 3,500 filling stations in France, nearly a third of the total, and most of them are low on fuel or even empty for some types.
Currently three of Total's refineries are blocked, including its largest, in Normandy, as well as a fuel depot near Flandres in the north.
Remittances from expatriates in Saudi fell 13 percent in Aug
Riyadh, Saudi Arabia - Remittances from expatriates in Saudi Arabia saw a 13 percent year-on-year (YoY) decline to SAR 11.92...On a month-on-month (MoM) basis, remittances from expats in Saudi Arabia rose 3 percent, or SAR 323 million ($85.47m).
Remittances by Saudi nationals to other countries grew 10 percent YoY to SAR 6.33 billion ($1.68bn) in August.
Dubai Airport Free Zone non-oil trade up 36 percent in 2021
Dubai, UAE--- Non-oil trade of Dubai Airport Free Zone (DAFZ), part of the Dubai Integrated Economic Zones Authority (DIEZ), rose...DAFZ contributed 10.7 percent to Dubai’s non-oil trade in 2021, exceeding expectations across all sectors.
Machinery, equipment, and appliances were the main contributor to DAFZ’s trade in 2021, making up 74.6 percent of exports.
Qatar to hike Jordanian food imports during World Cup
Qatar plans to hike its imports of Jordanian food products during FIFA World Cup Qatar 2022 as demand is expected...Qatar relies heavily on Jordanian market for vegetables and fruits.
Volume of Jordan-Qatar trade during the past 10 years amounted to over US$3.17 billion.
Asia green business market to hit $5 trillion by 2030
More than 15 countries and 670 companies in Asia have set (or are committed to setting) emission-reduction targets, thereby creating...Around $3.1 trn will need to be spent per year on average on physical assets for energy and land-use systems from 2020 to 2050.
Vehicle electrification could contribute 10 to 15 percent of the abatement potential needed by 2050, lowering emissions by roughly six GtCO2e.
Energy firm starts test at sensitive Israel-Lebanon border gas field
In a statement Sunday, Energean said that "following approval received from the Israeli Ministry of Energy to start certain testing...Israel has maintained that Karish falls entirely within its territory and is not a subject of negotiation with Lebanon.
Energean said the tests would take many weeks, and are "an important step" towards extracting gas from the Karish.
French PM leads delegation to Algeria as ties improve
French Prime Minister Elisabeth Borne starts a visit to Algeria with a top-level delegation, pushing for better ties with the...Ties between the North African country and France had seen months of tensions after Macron last year questioned Algeria's existence as a nation before the French occupation.
The French PM is expected to sign deals on economic cooperation, including energy.
