Gaza truce talks resume in Egypt, without Israel for now
Mediators from Qatar, Egypt and the United States have been waiting for Hamas to respond to a proposal that, according...Business Uncategorized
Top U.S. stock indices drop for third consecutive day on Wednesday
The S&P 500 dropped for a fourth consecutive session on Wednesday, as Nvidia and other struggling technology names put downward...Business
Turkish Airlines restarts Libya flights after almost a decade
Istanbul, Turkey - Turkey's flagship carrier, Turkish Airlines, has resumed flights to Libya's capital, almost 10 years after they were suspended...The airlines's chief executive, Bilal Eksi, attended a ceremony at Mitiga International Airport on Thursday to mark its first flight to Libya since 2015.
A company spokesman told AFP on Friday that Turkish Airlines will operate flights to Tripoli three times a week on Tuesdays, Thursdays and Sundays.
GASTAT issues FDI statistics of Saudi Arabia for Q4 2023
RIYADH, SAUDI ARABIA – The General Authority for Statistics (GASTAT) issued on Friday the Foreign Direct Investment (FDI) statistics for...Total FDI in Saudi Arabia's economy during Q4 of 2023 totaled about US$5 billion.
GASTAT said the results are based on a household survey conducted by the authority.
Huawei profit tops $12bn
The profits more than doubled compared to 2022.Huawei has been at the center of an intense standoff between China and the United States, with Washington warning its equipment could be used for espionage.
Sanctions since 2019 have cut Huawei's access to US-made components and technologies, forcing it to diversify.
Amanat FY 2023 revenue $195m
The company's revenue grew by 40 percent year-on-year.Amanat announced a proposed dividend of US$13 million for FY 2023, with additional interim dividends planned for 2024.
The balance sheet reached US$158 million in cash at year-end, and low leverage provided significant capital for deployment.
UAE earns first spot in Global Entrepreneurship Monitor 2024 report
Abu Dhabi, UAE-- The United Arab Emirates has been ranked first globally for the third consecutive year in the Global...The report said the UAE was the best place to start and conduct new business ventures, surpassing many advanced economies
The report put Saudi Arabia on the third spot, Qatar at fifth, and Estonia South Korea, Switzerland, and China following them
Japan to restart funding to UN Palestinian refugee agency
Tokyo, Japan--Japan is preparing to resume funding to the UN's crisis-hit Palestinian refugee agency (UNRWA), which coordinates nearly all aid...Japan like many other countries paused funding after Israel claimed that 12 of UNRWA's 13,000 Gaza employees were involved in the deadly October 7 Hamas attack
The UN has launched both an internal and an independent investigation but has said Israel has not provided it with any evidence to support the claim against the workers
Arab Bank for Economic Development in Africa expects financing to touch US$2.5bn
Abu Dhabi, UAE--The Arab Bank for Economic Development in Africa (BADEA) expects the bank's annual financing to reach US$2.5 billion...The annual financing of the bank is witnessing a steady increase, rising from US$2 billion in 2022 to US$2.23 billion in 2023
Nearly 30 percent of the bank's financing in the last 10 years was allocated to sustainable development projects in Africa
UHNWIs drive Dubai’s luxury real estate growth
"The ultra-high-net-worth individuals (UHNWIs) have transformative impact on the real estate market. These individuals, with their discerning tastes and substantial...UHNWIs significantly contribute to the growth of Dubai's luxury property sector, driving demand and innovation.
Sales of homes priced at $10 million or more in Dubai reached $7.6 billion in 2023, outperforming global cities.
Embracer sells Borderlands
The sale is expected to be completed by June-end .The sale would reduce the company's net debt by around $300-327 million, the group said in a statement
Gearbox will join a Take-Two line-up that includes the likes of "Grand Theft Auto" maker Rockstar Games and 2K
US stocks open mixed ahead post fresh economic data
New York, US- Wall Street stocks saw a mixed start to Thursday, as traders digested the latest economic data ahead of...The broad-based S&P 500 Index was flat at 5,247.74, while the tech-heavy Nasdaq Composite Index retreated 0.2 percent to 16,363.03
The Commerce Department made a surprise upward revision to fourth quarter GDP growth, to an annual rate of 3.4 percent