AD Ports Group 2024 net profit $484m
The Group's revenue increased 48 percent year-on-year.Company News Business
UAE to launch DeepSeek-inspired AI models: Faisal Al Bannai
Dubai, United Arab Emirates -- The United Arab Emirates is planning to launch new artificial intelligence models inspired by China's DeepSeek,...Technology Business
IHC net profit soars to US$8.9bn
The company's revenue for the year 2023 stood at US$16.33bn.The company's earnings per share (EPS) witnessed a huge rise, more than doubling from AED 6.81 to AED 12.36
The group said that its preliminary revenue rose to $16.33 billion, marking an 18% increase from the previous year
Gulf realty navigates opportunities and challenges
The GCC real estate sector enters 2024 amidst a complex interplay of global economic challenges and regional opportunities, says a...The GCC real estate sector enters 2024 amidst a complex interplay of global economic challenges and regional opportunities, says a latest report.
With Dubai defying global trends and Saudi Arabia's Vision 2030 spurring growth, the landscape is ripe with potential. Qatar, however, faces correction.
McDonald Q4 profit up
McDonald's cited war in the Middle East as a drag.Profits in the quarter grew seven percent to $2.0 billion, while revenues increased eight percent to $6.4 billion.
Global comparable sales grew 3.4 percent in fourth quarter, down from 8.8 percent in the third quarter and below the annual average
Vodafone Q3 revenue dips
Poor display across Italy, Spain is said to be the reason for loss.Revenues dipped 2.3 percent to 11.4 billion euros ($12.3 billion) in the three months to the end of December, compared with a year earlier.
"We maintained... revenue momentum in the third quarter," said chief executive Margherita Della Valle, adding the group had made "good strategic progress".
Investment in Qatar free zones reaches US$1.3bn, says QFZ chairman
DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...The QFZ chairman held a meeting with a delegation led by First Vice-Chairman of Qatar Chamber Mohamed bin Ahmed bin Twar Al Kuwari.
The delegation paid a field tour to the Ras Bufontas Free Zone to explore the investment benefits and business opportunities within the free zones.
European markets surge as US jobs data batter rate cut hopes
"The markets continue to forge ahead despite a blowout jobs report from the US last Friday which seems to have...Fed policymakers had left traders disappointed last week when they said after a meeting that they were unlikely to loosen policy at their next gathering.
Most of Asia struggled again, however, with Hong Kong and Shanghai extending a sell-off fueled by growing concerns about the Chinese economy
QatarEnergy, Mitsui ink pact
The agreement provide for a rise in condensate volumes.The 10-year supply agreement stipulates the supply of up to 11 million barrels of condensates per annum, starting from April 2024.
The agreement highlights QatarEnergy's strategy of establishing longer-term strategic business relationship and cooperation.
48 Middle East and North Africa IPOs raise $10.7bn in 2023: Report
Five listings, mainly in the energy and logistics sectors, contributed 58 percent towards the total IPO proceeds raised, said the...During Q4 2023, 19 IPOs raised US$4.9bn in proceeds. ADES Holding Company raise the most funds and contributed 25% to the overall IPO in Q4.
Saudi Arabia dominated IPO activity in the region with 14 of the 19 listings in Q4 2023. ADES was the biggest with US$1.2bn in proceeds.
Total M&A market drops to US$3.2trn in 2023, says report
DUBAI, UAE - The total M&A market dropped 15 percent, to US$3.2 trillion, the lowest level in a decade, as...Many of the assets that did not come to market last year will fuel active dealmaking in 2024.
The collapse of technology M&A has been the biggest drag on strategic mergers and acquisitions.
Mubadala invests in Manipal Health
Manipal Health offers multispecialty care through 30 hospitals.Temasek, a Singapore-headquartered global investment company, will continue to hold a majority stake in Manipal.
Employing more than 5,000 doctors, the company is India’s second-largest hospital chain by number of beds.
