Amazon set for launch of its first batch of Starlink-rival satellites
Washington, United States -- After delaying an earlier attempt due to bad weather, Amazon is preparing to launch its first...Business
Trump trade war pushes firms to consider stockpiling
Even if they don't all acknowledge it so openly, firms in many different sectors are stockpiling their products in the United...Business Economy Geostrategy Global
Iran-EU trade surpasses US$5bn in 2023, says Eurostat
TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...Trade between Iran and member states of the EU recorded a decrease of 9 percent from January to December 2023.
During that period, the exchange of products between Iran and the EU member states was valued at US$5 billion.
KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility
ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT)...The 30,000 square meters advanced manufacturing facility for APT in KEZAD will be located adjacent to Emirates Global Aluminum.
The facility will be one of the largest manufacturers of aluminum in the world and will be operational by early 2025.
Passenger traffic could exceed earlier figures, says Dubai Airports’ CEO
DUBAI, UAE – The airport here has "every chance" of breaking its record for passenger traffic this year after surpassing pre-pandemic...Dubai International, the world's busiest airport for international passengers for nearly a decade, hit 87 million visits in 2023.
Dubai Airports' official forecast for 2024 stands at 88.8 million passengers, despite the Israel- Hamas war which began in October.
SCC committee discusses issues related to Sharjah’s economy and tourism
SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...The committee addressed the outcomes of its recent visit to Sharjah Commerce and Tourism Development Authority.
The committee was briefed about the authority’s efforts to stimulate tourism by conducting events throughout the year.
Nintendo shares tumble 8.5%
Its next-generation console will be delayed until 2025.A news report said the next console would miss the key Christmas holiday shopping period in December
The gadget is fading with the console now in its seventh year, but the company is tight-lipped about its plans
Qatar real-estate trading volume in January stands at US$521m
Doha, Qatar--The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry...According to a bulletin issued by the Ministry of Justice, some 362 real estate transactions were recorded during the month
The value of Doha municipality's transactions came out at $324 million, as per the real estate market index for January 2024
Aamal net profit up 5.7%
Its gross profit jumped 3.1% to US$137.25m in 2023.According to a company's statement. Its gross profit shot up 3.1 percent to $137.25 million.
Its chairman said the performance of their trading and distribution segment was noteworthy
GCC emerges as a cryptocurrency investment hub
Driven by government initiatives, economic diversification and a tech-savvy population, the region is becoming a prominent center for cryptocurrency investment,...Driven by government initiatives, economic diversification and a tech-savvy population, the region is becoming a prominent center for cryptocurrency investment, says an expert.
Hao Yang of Bybit highlights the sector's regulated nature, its accessibility beyond tech-savvy individuals, and the importance of education and due diligence behind its growth.
Saudi holdings of US Treasuries surge to $131.9b in December 2023
ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...The Kingdom maintained 16th place among the largest holders of US treasury securities for December.
Saudi Arabia’s holdings of US Treasuries were distributed among long-term and short-term bonds.
HMG 2023 net profit $544m
The rise was due to the hospitals and pharmacy segments.The increase in net profit came as revenues edged up 14.41 percent year-on-year (YoY) to US$2.5 billion (SAR 9.5 billion).
Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 18.49 percent YoY to US$666 million (SAR 2.5 billion).
