Dow, S&P 500 hit fresh records, but Nasdaq ticks lower
The tech-rich Nasdaq slipped by 0.3 percent to 15,996.82 -- a day after surging by 3.0 percent following strong earnings...Business
Emirates NBD joins fight against illegal wildlife trade
The banking group is supporting efforts to combat global wildlife trafficking by joining the United for Wildlife financial task force.The banking group is supporting efforts to combat global wildlife trafficking by joining the United for Wildlife financial task force
NBD will work with its peers to promote the welfare and safety of wild animals, Group Chief Compliance Officer Victor Matafonov said
RAK DED allots 837 licenses worth $39.48m in H1
The department's report highlighted the fact that professional licenses accounted for 49 percent of total numbering 8,986, followed by commercial...The number of commercial licenses were 449, representing 51.4 percent, followed by professional licenses numbering 406, along with 17 industrial licenses
The total number of renewed licenses in the first half of 2022 was 6,947, compared to 6,606 during the same period in 2021
Slow tech adaptation hurts online banking in GCC
Smaller banks may be left behind if they don't invest appropriately in digitalization, Redmond Ramsdale, Head of Middle East Bank...Smaller banks may be left behind if they don't invest appropriately in digitalization, Redmond Ramsdale, Head of Middle East Bank Ratings at Fitch Ratings, tells TRENDS
Banks and other financial organizations that don't adopt this technology risk losing consumers to competitors in the market, Ramsdale adds
Saudi Arabia’s merchandise exports in June up 75 percent: GASTAT
Saudi Arabia’s merchandise exports during June 2022 increased by more than 75 percent to 148 billion riyals ($39.37 billion) compared...The non-oil exports (including re-exports) rose by 26.8 percent to 30 billion riyals in June 2022, compared to 24 billion riyals in June 2021.
The kingdom’s merchandise imports during June 2022 amounted to 60 billion riyals, compared to 47 billion riyals during June 2021, an increase of 28.9 percent.
Palms Sports wins its biggest contract
The 30-month UAE government contract is worth $83.31m.Under the new contract it will provide 350 expert Jiu-Jitsu and close combat instructors in locations across all seven emirates.
Palms Sports reported the first half profit of AED47.2 million, a 37 percent increase for the same period last year.
Majid Al Futtaim H1 EBIDTA $517m
The EBITDA rose 18 percent from $435 million a year ago.Majid Al Futtaim said it recorded a 73 percent rise in digital grocery retailing and opened Carrefour UAE’s first BIO store.
The conglomerate said in a statement that it recorded a 15 percent increase in revenue to AED18 billion.
TikTok stars boycott Amazon in activism push
It's the latest example of creators lending their online stage to a cause on the massively growing platform more known...The group is pushing for the firm's workers to get a minimum hourly wage of $30, improved medical leave and easing of productivity requirements
It is also calling on Amazon, which has long resisted unionization efforts in its US facilities, to stop its opposition
Real estate deals worth $381 million recorded in Dubai Tuesday
Dubai real estate market recorded deals worth AED1.4 billion ($381 million) on Tuesday, including 387 sales transactions worth AED1.15 billion....The transactions also included 68 mortgage deals of AED149.38 million, and 85 gift deals amounting to AED140.85 million, data released by Dubai's Land Department (DLD) showed.
The sales included 336 villas and apartments worth AED913.23 million, and 51 land plots worth AED241.01 million.
Seera sees 43% slide in loss
The Saudi travel group saw its loss fall to $35m in H1.The travel agency's gross booking value climbed up 105 percent on the year to $1.09 billion, and revenue was up 125 percent to $282 million
Almosafer, its travel business, bounced back with increased demand in the second quarter along with a gross booking value of $453 million
BinDawood’s H1 profit tumbles
Largest Saudi retailer posts a 31% dip in H1 profit to $28.80m.The company's board proposed a half-year cash dividend payout of $27 million at SR0.9 per share
Its sales and revenues surpassed $640 million during the first half of the current year
