ADNOC Distribution 2024 net profit down 7%
Minus UAE corporate tax, it would have grown by 2.4% to $725mCompany News Business
UAE announces top-up tax for multinational enterprises
Abu Dhabi, UAE - The Ministry of Finance has announced the issuance of Cabinet Decision No. 142 of 2024 on...Business
Abu Dhabi records real estate deals worth $1.36 billion in Jan
Abu Dhabi, UAE -- Real estate transactions in the Emirate of Abu Dhabi amounted to over AED 5 billion ($1.36...The value of real estate mortgages in the emirate reached about AED2.6 billion through 635 mortgage deals.
Mohamed bin Zayed City topped the list with a value of AED16.6 million for "Prestige Tower", followed by Saadiyat Island with AED12.7 million for "Mamsha Al Saadiyat".
Shell annual profit drops to US$19.4bn
Its revenue dived almost a fifth percent to US$316.6 billion.Revenue of the British energy major dived almost a fifth percent to $316.6 billion, Shell will nevertheless return $3.5 billion to shareholders
"Shell delivered another quarter of strong performance, concluding a year in which we made good progress," said chief executive
Shares in India’s Paytm dive 20%
Banking arm asked to stop accepting fresh deposits.Paytm collapsed 20 percent at the open of trade in Mumbai before a trading halt, the day after the RBI reported "persistent non-compliances" at Paytm Payments Bank
RBI said it would not be able to accept new deposits, offer fund transfers or help facilitate credit transactions from March, although customers will be able to withdraw cash
Borouge full-year net profit $1bn
The firm posted third consecutive rise in quarterly earnings.Borouge management intends to distribute 15.9 fils per share in dividends for the full year 2024, equating to a 6.6 percent current dividend yield.
Fourth quarter revenue reached $1.5 billion, unchanged quarter-on-quarter and declining 6 percent on a year-on-year basis on weaker global demand.
The DCO Council announces multilateral initiatives to bridge digital divide
Manama, Bahrain - The Digital Cooperation Organization (DCO), a global intergovernmental organization dedicated to fostering digital prosperity for all by...Topics of discussion included cross-border market growth; the value of data; human-centric and sustainable digital economy
The DCO Council also announced the joining of Bangladesh, Qatar, and Greece as the new member states
Air cargo demand rebounds in 2023 amid economic uncertainty
Geneva, Switzerland-- Air cargo demand rebounded in 2023 with a particularly strong fourth quarter performance despite economic uncertainties, according to...Carriers across the Middle East recorded a jump in demand of 1.6 percent for international operations in 2023 compared to 2022
Airlines in the region posted an 18.3% increase in December in demand for both global and international operations compared to 2022
Rise of GenAI boosts phishing threats during holidays
The sophistication of GenAI-driven phishing attacks requires robust security, including advanced DDoS protection and proactive cyber resilience strategies, says an...The sophistication of GenAI-driven phishing attacks requires robust security, including advanced DDoS protection and proactive cyber resilience strategies, says an expert.
Emad Fahmy of NETSCOUT recommends establishing strong passwords, exercising caution online, and extensive use of VPNs to enhance cybersecurity amid rising threats.
GSK profit in 2023 falls
The drug maker said revenues swelled 3 percent to $38.54bn.Profit after tax slid sharply to £4.9 billion ($6.2 billion) last year from £14.9 billion in 2022, when it received a massive gain from the Haleon demerger
However, underlying adjusted operating profit, excluding exceptional items, jumped 12 percent to £8.8 billion last year to beat company guidance
Global stock markets swing ahead of Fed’s latest rate decision
"Markets are eagerly anticipating today's meeting from the Federal Reserve with traders looking for signs over whether a March rate...London and Paris rose but Frankfurt fell near the half-way stage, after a mixed showing in Asia. The dollar edged higher against the euro and yen
Investors are hoping the Fed will begin cutting rates soon after hiking them to their highest level in more than two decades to combat inflation
IMF says Red Sea shipping down one-third due to Houthi attacks
"Container shipping... has declined by almost 30 percent," said Jihad Azour, director of the IMF's Middle East and Central Asia...The Iran-backed Houthis have launched more than 30 attacks on commercial shipping and naval vessels since November 19, the Pentagon said on Tuesday
Houthi attacks have prompted some shipping companies to detour around southern Africa to avoid the Red Sea, a route that carries about 12 percent of global trade
