Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...Business Economy
TAQA net income $1.93bn in 2024
The company's revenues increased 6.7 percent year-on-year.Company News Business
UBS to reward shareholders
Losses from costs of absorbing Credit Suisse narrow.The bank reported a net loss of $279 million in the final three months of 2023 -- far less than the nearly $500 million analysts had been bracing for
The result followed a bigger, $785 million loss in the third quarter but for the full year, UBS bagged a net profit of $29 billion in 2023
QatarEnergy signs LNG deal with Petronet
QatarEnergy will supply 7.5m tons of LNG per year to Petronet.Qatar is one of the world's top LNG producers alongside the United States, Australia and Russia.
The first deliveries of gas to India by QatarEnergy's LNG fleet are due from May 2028.
Sharjah Chamber posts growth in membership in 2023
SHARJAH, UAE - The Sharjah Chamber of Commerce and Industry (SCCI) has announced a series of significant achievements of the...The number of membership renewals in 2023 hit 55,087 across industrial, commercial and professional sectors.
Free zone memberships stood at 1,795, while exports and re-exports were valued at approximately US$8.9 billion.
Maqta acquires stake in Dubai Technologies
The majority stake was acquired for $7.6 million.The founder will retain a 40 percent stake in the company, and the existing leadership team will remain in management to deliver on the strategic growth plans.
The company's FY2023 financial performance recorded revenues of AED70.5 million and EBITDA of AED8.4 million.
BP posts US$15.2bn net annual profit
It will deliver US$1.75bn in buybacks for Q4 of last year.Its profit after tax surged to $15.2 billion last year from a net loss of $2.5 billion in 2022
The bumper profit came after slumping into a loss the prior year on its exit from Russia
Toyota expects to book profit of US$30bn
Its third-quarter net profit jumped to US$7 billion.The weak yen is also boosting earnings for the auto titan, which now expects to book a net profit of 4.5 trillion yen ($30 billion) this financial year
Last week, Toyota announced record vehicle sales of 11.2m across its brands in 2023, maintaining its crown as the world's top-selling automaker
WEF24: Understanding regional nuances key to success
Industries are increasingly investing in transformative technologies, including cybersecurity, sustainable solutions and AI, Sapthagiri Chapalapalli tells TRENDS in an interview.Industries are increasingly investing in transformative technologies, including cybersecurity, sustainable solutions and AI, Sapthagiri Chapalapalli tells TRENDS.
Proactive approach in building reference architectures and industry-specific AI use cases positions TCS as a leader in designing tomorrow's technology, he adds.
Ghitha Holding buys stake in MNG Airlines
The acquisition of 44% stake is valued at US$211.20 million.The buying of stake in the airline is expected to mark a significant stride towards diversifying Ghitha Holding’s robust portfolio
The Turkish airline offers specialized services including scheduled and block space charter, aircraft, crew, maintenance and insurance
Abu Dhabi Airports appoints Elena Sorlini as Managing Director and CEO
Abu Dhabi, UAE - Abu Dhabi Airports, the operator of Abu Dhabi's five commercial airports, has announced the appointment of...Since joining Abu Dhabi Airports, Sorlini has overseen the successful opening of Abu Dhabi International Airport's new state-of-the-art Terminal A
Additionally, she has played an important role in maintaining the steady increase of passenger traffic numbers, which continue to experience year-on-year growth
Investors eye UAE’s booming sustainable finance sector
"Numerous opportunities exist in sustainable investments, especially in sectors like building systems, renewable energy, water, food and agriculture, shipping, among...The UAE is experiencing remarkable growth in sustainable finance, according to Barclays Private Bank UAE CEO Rasha Badawi.
Sustainable investment opportunities expanding in the UAE across various sectors including renewable energy and agriculture, she adds.
