TECOM 2023 net profit $299m
Revenue in 2023 grew by 10 percent YoY to $599 million.Company News Business
American Airlines orders 260 jets
It is part of the airlines' effort to 'modernize' its fleet.Business
US climate spending could spark tariff war, says Scholz
German Chancellor Olaf Scholz criticized US climate protection plans that would shield domestic companies from foreign competition, saying they could...European Union officials have in recent weeks spoken out against planned US tax credits for the domestic electric vehicle market.
South Korea has also voiced its displeasure, calling the new rules favoring American e-cars a "betrayal".
Saudi Arabia announces bidders for gypsum ore exploration
Riyadh, Saudi Arabia— Saudi National Gypsum Co. and El-Khayyat Gypsum are among the eight qualified bidders to compete for an...The site, with an area of 600,00 sq.m, is located south of the Nabat Center in Al Madinah Al Munawwarah region
Saudi Arabia is expecting its mineral wealth to exceed earlier estimates of $1.3 trillion as it triples spending on the exploration of metals over the next three years
MEmob+, GeoDB partner to launch a Digital Wallet, Blockchain Protocol
The investment reinforces both companies’ shared vision of democratizing data, changing how data is shared and monetized by the users...The investment reinforces both companies’ shared vision of democratizing data, changing how data is shared and monetized by the users and brands
The decentralized wallet will empower people to earn rewards for the data they share and gain control of the data they generate
Asian chipmakers plunge after US unveils China export controls
The announcement on Friday marked the latest volley in a long-running standoff between the two superpowers that has seen them...The US Department of Commerce said the measures include export restrictions on some chips used in supercomputing, and toughen requirements on the sale of semiconductor equipment
South Korean tech titan Samsung Electronics, a major semiconductor maker, dived around three percent in Seoul where DB Hitek was off four percent
LeBron’s 18-year-old son Bronny signs Nike endorsement deal
The younger James, who turned 18 last Thursday, is a guard at Sierra Canyon High School near Los Angeles while...LeBron James signed a lifetime Nike deal in 2015 after working with the shoemaker since his own days as an 18-year-old prep prospect
Bronny James inked an NIL deal for name, image and likeness rights along with four other young basketball guards
Arab designer labels stir up $29bn GCC luxury market
Luxury goods business in the MENA region is seeing a reorganization, surprising market experts, as homegrown brands challenge the hegemony...While the Covid pandemic made a big dent in others sectors of the global and the Middle Eastern economies, the luxury business in the GCC region was surprisingly unaffected
Customers in the GCC region have been pushing for localization even before the Covid pandemic hit the world
Sustainability key focus of GCC automotive industry
Current trends in the automotive sector such as zero-emission vehicles and carbon-neutral manufacturing demonstrate the growing importance of sustainability, says...BMW Group is placing sustainability at the center of their strategic direction across all divisions, says a key BMW Group Middle East official
By 2030, BMW will release around 10 million fully electric vehicles onto the roads, adds Hamid Haqparwar, Managing Director at BMW Group Middle East
Dubai records over US$435m in realty transactions Monday
Dubai real estate market recorded 445 sales transactions worth US$321 million, in addition to 68 mortgage deals of $121 million...Dubai real estate market recorded 445 sales transactions worth $321 million.
The market witnessed 68 mortgage deals of $121 million and 37 gifts deals amounting to $16 million.
Saudi Arabian delegation visits Oman, to enhance bilateral ties
A Saudi Arabian delegation led by Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha is on a...A Saudi Arabian delegation led by Minister of Communications and Information Technology Eng. Abdullah bin Amer Al-Swaha is on a visit to Oman.
The Saudi delegation met with Oman's Minister of Transport, Communications and Information Technology Saeed Al-Mawali and Minister of Economy Saeed As-Saqri.
Burjeel begins trading on ADX
Shares closed the debut session up 15 percent ($0.62).The company raised AED1.1 billion ($299.49 million) after offering a 11 percent stake in an IPO.
It was oversubscribed 29 times to over AED32 billion after seeing a significant demand from UAE and outside investors.
