Vanke reports annual loss of $6.8 bn
The property giant attributes loss to falling sales and shrinking profit.Company News Business
Emaar to pay $2.39bn dividend
The company had posted $19bn in property sales for 2024.Company News Business
China, Canada retaliate to Trump tariff war as markets fall
Washington, United States -- Mounting trade wars between the United States and its largest economic partners deepened Tuesday as huge...Trump had announced -- and then paused -- blanket 25 percent tariffs on imports from major trading partners Canada and Mexico in February.
The duties will hit over $918 billion in US imports from both countries, and are set to hamper supply chains for key sectors like automobiles and construction materials.
Future of Humanity – TRENDS’ yearly Special Issue now online
Dubai, UAE -- TRENDS’ yearly Special Issue is out. This year’s edition, titled Future of Humanity, explores key global shifts...The edition delves into transformative themes such as GCC’s leadership in urbanization, smart cities, and logistics, as well as the role of AI in reshaping healthcare and finance.
It also highlights cultural diplomacy, the evolving digital economy, and the power of travel in shaping the human experience.
Abu Dhabi real estate transactions reach $4.69bn in Jan, Feb 2025
Abu Dhabi, UAE -- Real estate transactions in Abu Dhabi reached AED17.24 billion ($4.69 billion) in the first two months...Real estate sales transactions since the beginning of the year have totaled AED 9.8 billion across 2,676 transactions.
The total value of usufruct transactions has exceeded AED229 million for 28 properties.
ADNIC okays 45% dividend for 2024
The company achieved its highest ever revenue and net profit.As a result of strong underwriting and investment performance, ADNIC's net profit before tax grew by 16.3 percent year on year to AED 466.4 million.
Its total assets grew by 52.9 percent year on year to reach AED 11.8 billion and total shareholders equity grew by 20.6 percent for year on year to reach AED 3.5 billion.
Bitcoin falls below $80,000 first time since November amid market volatility
Hong Kong, China -- Bitcoin sank below $80,000 on Friday for the first time in more than three months as...The digital unit fell to as low as $79,525.88 in early Asian trade -- its lowest level since November 11 and sharply down from the record above $109,000 seen just last month.
The unit saw an eye-watering rally after Donald Trump's election victory in November after he promised on the campaign trail to free up regulations surrounding digital token.
How cyber criminals steal cryptocurrency
Hackers from North Korea have become notorious for their sophisticated and relentless tradecraft, according to Chainalysis. Nearly 60 percent of...A recent $1.5-billion heist of Ethereum from the Bybit platform -- attributed by the FBI to North Korean hackers -- is believed to be the largest yet.
Cryptocurrencies are based on blockchain technology, which publicly records transactions between people holding and exchanging them.
Billionaire Bezos announces restrictions on Washington Post opinion coverage
Washington, United States - The Washington Post will no longer run views opposed to "personal liberties and free markets" on..."We are going to be writing every day in support and defense of two pillars: personal liberties and free markets," wrote Bezos on social media platform X
In January, an award-winning political cartoonist for the newspaper announced her resignation after a cartoon depicting Bezos groveling before Trump was rejected
stc net profit for 2024 $6.58bn
This is an increase of 85.7 percent over the previous year.Revenues for 2024 rose 5.7 percent over the previous year to reach SAR 75.893 billion, and gross profit reached SAR 37.30 billion.
Operating profit increased 9.6 percent over the previous year to reach SAR 14.426 billion.
AI to replace 4,000 jobs in Southeast Asia’s largest bank: DBS
Singapore, Singapore -- Southeast Asia's largest bank DBS said that 4,000 jobs could be cut in the next three years...A Bloomberg Intelligence report last month said banks worldwide will cut as many as 200,000 positions in the next three to five years due to AI.
Last year, the International Monetary Fund said AI could affect around 40 percent of jobs around the world.
Asian markets swing as traders assess latest tariffs volley
Asian markets were mixed Wednesday after President Donald Trump broadened his tariff threats, while traders were also assessing the geopolitical...Tariffs around 25 percent to be imposed on auto imports, semiconductors and pharmaceuticals
He (Trump) risked triggering inflation, market distortions and even a global recession- China's ambassador to the WTO
