Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath
Lyten, a Silicon Valley-based company, is revolutionizing the energy storage market with its groundbreaking lithium-sulfur battery technology. These batteries offer...Technology Business Economy
Hong Kong’s property distress hurting banks
Distressed property sales in Hong Kong are beginning to bite banks with average prices of office buildings, shopping malls and...Business
Czech farmer cull 140,000 birds to halt spread of bird flu outbreak
Prague, Czech Republic - Czech farmers have killed about 140,000 birds since the start of the year in a bid to...The infected birds had the highly pathogenic H5N1 bird flu strain, which is potentially transmissible to humans
The three commercial farms, all in central Czech Republic, have had to cull 50,000 ducks and 90,000 chicken
Dubai Land Department records $172bn in realty deals in 2023
Dubai, UAE -- The Dubai Land Department (DLD) records an all-time high of 1.6 million transactions worth AED 634 billion...Real estate investments' value grew by 55 percent during the same period, reaching approximately AED 412 billion.
There were 157,798 investments attributed to 113,655 owners, including 71,002 new investors, indicating a 20 percent increase.
ADNOC Distribution posts record EBITDA
The EDITDA of $1bn benefited from OPEX saving of $28m.The company said it successfully delivered on the five-year target it communicated to the market during its first Capital Markets Day in May 2019.
The company recommended a dividend of $350 million for the second half of 2023.
Gaza solidarity boycott hits global food chains
As customers in the Middle East shun international restaurants, local businesses report they have benefited from the boycott.Starbucks sales grew at their slowest pace in a year, and profits fell short of Wall Street estimates as a spending slowdown took its toll.
McDonald's shares declined for the second day after the company failed to achieve targeted sales for the first time since 2020 due to the war in the Middle East.
Equinor reports 59% fall in net profit
Its earnings were US$36.2bn, half of what is was in 2022.The company's net profit slumped 59 percent last year to $11.9bn, dragged down by a decline in energy prices
Anders Opedal, the company CEO, said that in 2023 the group "continued to contribute to energy security in Europe"
TotalEnergies reports record annual profit
Net profit came in at $21.4 bn, an increase of 4% over 2022.Net profit came in at $21.4 billion, an increase of four percent over 2022, with the the energy giant proposing a 7.1 percent increase in its annual dividend
After adjusting for non-recurring items, net profit stood at $23.2 billion, a fall of 36 percent from 2022 when the company withdrew from Russia
Qatar and Egypt discuss ways to boost economic, trade ties
Doha, Qatar-- Qatar and Egypt are looking to boost trade and economic ties between the two countries, besides exploring ways...The Qatar Chamber first vice-chairman said Egypt offers abundant opportunities, which are attractive to Qatari investors
The Egyptian official said that his country has brought in a host of reforms relating to investment for foreign investors
ADNOC Drilling to expand fleet
The company aims to reach 142 operational rigs this year.The company's CEO said that it was looking to support ADNOC's 5 million-barrels-per-day-capacity target
It has assembled one of the largest multi-disciplined fleets in the world, backed by the latest innovations
‘Bond market acts as a mirror to economic realities’
"(US Federal Reserve Chair Jerome) Powell's focus on verifying inflation's trajectory is in line with the central bank's dual mandate...Bond market's selling pressure illustrates its role in reflecting economic realities, says Nigel Green
A 27 basis points surge in 10-year yields marks notable market movement since June 2022, he adds.
Innovation, expansion spur Gulf retail after pandemic
GCC retail sector evolves dynamically, blending innovation with tradition to woo investment, says Khalifa Bin Braik of Majid Al Futtaim...GCC retail sector evolves dynamically, blending innovation with tradition to woo investment, says Khalifa Bin Braik of Majid Al Futtaim Asset Management.
Investing in the GCC retail market offers strategic benefits like a prime location, wealthy population, and luxury demand, bolstered by government support.
