Airlines expect over $30 bn in profits and passengers to hit nearly five billion in 2024: IATA
The International Air Transport Association (IATA) announced strengthened profitability projections for airlines in 2024 compared with its June and December...Business
‘Canon aims for a 42% reduction in GHG emissions by 2030 and net zero by 2050’
Venkatasubramanian (Subbu) Hariharan, MD of Canon Middle East and Turkey, highlights the significance of remanufacturing and refurbishment for reducing environmental...Business
UAE leads in cybersecurity for unmanned systems
"The digital transformation, which relies on artificial intelligence technologies, has touched all sectors and contributes to improving the quality of...Dr. Mohamed Hamad Al Kuwaiti stresses the importance of cybersecurity in unmanned and autonomous systems.
The UMEX and SimTEX exhibitions showcased the UAE's esteemed position as a global hub for unmanned systems.
Apple to make changes to App Store in Europe
iPhone users can download alternative app stores.The changes expected to take place in March will curtail the dominance of the App Store
The company said on Thursday the Digital Markets Act has created "privacy and security risks"
Global Islamic finance market to touch US$4.9trn in 2025, says Malaysian official
Hong Kong-- The global Islamic finance market would touch US$4.9 trillion by 2025, according to Yazrin Syakhairi, Malaysian Trade Commissioner...The official said the Islamic finance market is seeing significant and rapid growth worldwide, surpassing the size of US$2.2 trillion in 2022
He said the Islamic finance industry has seen a noticeable growth in the Middle East and the Association of Southeast Asian Nations (ASEAN)
Alaska Airlines to take US$150m hit
It grounded the Boeing 737 MAX after in-flight safety episode.The airline's financial hit is the latest ripple effect from the episode, which prompted regulators to ground 171 MAX 9 planes
With 65 planes affected by the grounding, Alaska Airlines expects to bring the jets back into service beginning Friday
UAE, Malaysia sign MoU to enhance ties in digital-infrastructure sector
Abu Dhabi, UAE-- The UAE and Malaysia have signed a memorandum of understanding (MoU) to boost investment cooperation in the...The agreement envisages setting up collaboration by developing bilateral relationships between public and private organisations
The trade ties between the UAE and Malaysia have climbed up, with non-oil trade volume surpassing $2.22bn in H1 of 2023
WEF24: Investor confidence fuels sustainable growth
GFH Financial Group has made significant investments in healthcare, education, logistics, and private lending in Saudi Arabia and the UAE,...GFH Financial Group has made significant investments in healthcare, education, logistics, and private lending in Saudi Arabia and the UAE, its CEO tells TRENDS in Davos.
To counter potential US recession and inflation, the group's strategy emphasizes investing in digital payments, mobile apps, and AI technologies for robust growth.
UAE, KSA lead as tech and energy drive IPOs in GCC
The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both...The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both state-owned and private offerings.
ADNOC Gas' large IPO underscores the region's market robustness, while the technology sector reclaims the lead in IPO proceeds, showcasing dynamic market strength.
Vodafone Qatar 2023 profit up
The 2023 net profit of Vodafone Qatar increased to $148 million.Vodafone Qatar’s net profit for the nine months ending September 2023 reached US$107 million.
This reflects a growth of 17.3 percent compared to the same period in 2022, mainly driven by higher EBITDA.
Microsoft lays off 1,900 staff
The move comes after Activision Blizzard gaming buyout.Alongside the layoffs, Blizzard president Mike Ybarra said he was leaving the company.
Microsoft launched its blockbuster takeover in January 2022, an acquisition that made it the world's third-largest gaming company by revenue.
EDGE bags another big order
The group will supply 200 unmanned helicopters to UAE defense ministry.The unmanned VTOL systems will be manufactured by Switzerland-based EDGE entity, ANAVIA.
In November 2023, EDGE acquired a 52 percent majority shareholding in ANAVIA, which manufactures unmanned helicopters.