Al Ansari approves $85m dividend
This is approx 78% of the company's net profit after tax.Company News Business
Chinese electric car maker BYD aims for Europe boost
Chinese carmaker BYD on Thursday vowed to conquer Europe with a new compact electric model and super-fast charging capability to...Business
Aldar net profit $1.19bn
Expanded investment and record development sales boosted profit.Aldar reported the highest-ever quarterly development sales of AED 8.5 billion in Q4, with full-year sales hitting a record AED 27.9 billion.
Development revenue backlog doubled to AED 36.8 billion, providing strong income visibility over the next two to three years, Aldar said.
AI game gains popularity during Chinese New Year festivities
SHANGHAI, CHINA - Young Chinese flocking home for Lunar New Year this weekend have turned to an AI chatbot game to...The new game uses an AI chatbot to simulate the barrage of squirm-inducing questions young people can expect to face.
The annual inquisition as extended families gather for China's biggest festival is a cultural touchstone across the country.
Barclays bank to stop financing new oil, gas projects
London, United Kingdom -- British bank Barclays said Friday it would stop directly financing its energy clients' new oil and gas...The bank added it would scale back lending for existing fossil fuel projects as the sector faces intense pressure from activist investors to help tackle climate change.
The British lender's move to curb financing of oil and gas projects follows similar announcements from European bank heavyweights BNP Paribas, Credit Agricole, HSBC and ING.
Etihad Atheeb 9M profit $47m
Higher revenues from various segments boosted profit.Allowance for impairment in trade receivables and finance charges (FCs) declined during the same period, Argaam reported.
On a quarterly basis, the telecom operator's third quarter leapt from SAR 47.9 million in Q2 2023/24.
DMCC witnesses 10 percent rise in US companies in 2023
DUBAI, UAE – DMCC successfully concluded its most recent Made for Trade Live tour of the US, hosting events in...DMCC sees opportunity for American businesses in Dubai after the success of the latest Economic Policy Dialogue held between the US and UAE
The events saw 100 American executives attend in which speakers advised on the opportunities on offer to American businesses in the UAE
Aramex Q4 net profit doubles
The firm reported a marginal YoY decline in Q4 revenue.Aramex said the revenue growth in International Express was offset by the decline in revenues from other products.
The company posted a 2 percent YoY growth in gross profit for Q4 2023, reaching AED 389 million and remained stable for the full year.
Hermes profit soars 28 percent
The luxury giant posted a profit of US$4.6bn in 2023.The company will disburse a 4,000-euro bonus to all employees early this year as part of "its policy of sharing the fruits of growth"
Its sales climbed 14.5% in Japan and 12.9% in the rest of the Asia-Pacific region, with the group opening its 33rd store in China
OPEC Fund grants US$30m loan to Uganda to build key road link
Vienna, Austria--The OPEC Fund for International Development (OFID) has granted a US$30 million loan to support the development of a...The construction of the road will provide better, faster and safer transport connections in the central-east region of the country
The Islamic Development Bank (IsDB) along with the government of Uganda will co-finance the road project in the African nation
L’Oreal net profit jumps 8.4%
The company's profit surged to US$6.8bn last year.The cosmetics giant in statement said its net profit jumped to $6.8 billion while sales grew 7.6 percent
In North Asia, its sales fell 5.8 percent to $11.52bn, but in South Asia sales jumped 23.2 percent to $3.66bn
GCC retail pins hope on customer loyalty programs
Retailers in the region are relying on card-linked offers, utilizing data analytics, mobile apps, and blockchain to enhance engagement and...Retailers in the region are relying on card-linked offers, utilizing data analytics, mobile apps, and blockchain to enhance engagement and personalize shopping experiences.
The sector are overcoming integration challenges through education, and embracing new market trends like personalized offers, digital wallets, and gamification in loyalty programs.
