DEWA okays $843m in H2 2024 dividend
DEWA had posted a net profit after tax of $1.96 billion for the full year 2024.Company News Business
Deepfakes can clone your voice in 5 seconds, tech firms mount defense
Las Vegas, United States -- Tech firms are fighting the scourge of deepfakes, those deceptively realistic voices or videos used...Technology Business Geostrategy
Maqta acquires stake in Dubai Technologies
The majority stake was acquired for $7.6 million.The founder will retain a 40 percent stake in the company, and the existing leadership team will remain in management to deliver on the strategic growth plans.
The company's FY2023 financial performance recorded revenues of AED70.5 million and EBITDA of AED8.4 million.
BP posts US$15.2bn net annual profit
It will deliver US$1.75bn in buybacks for Q4 of last year.Its profit after tax surged to $15.2 billion last year from a net loss of $2.5 billion in 2022
The bumper profit came after slumping into a loss the prior year on its exit from Russia
Toyota expects to book profit of US$30bn
Its third-quarter net profit jumped to US$7 billion.The weak yen is also boosting earnings for the auto titan, which now expects to book a net profit of 4.5 trillion yen ($30 billion) this financial year
Last week, Toyota announced record vehicle sales of 11.2m across its brands in 2023, maintaining its crown as the world's top-selling automaker
WEF24: Understanding regional nuances key to success
Industries are increasingly investing in transformative technologies, including cybersecurity, sustainable solutions and AI, Sapthagiri Chapalapalli tells TRENDS in an interview.Industries are increasingly investing in transformative technologies, including cybersecurity, sustainable solutions and AI, Sapthagiri Chapalapalli tells TRENDS.
Proactive approach in building reference architectures and industry-specific AI use cases positions TCS as a leader in designing tomorrow's technology, he adds.
Ghitha Holding buys stake in MNG Airlines
The acquisition of 44% stake is valued at US$211.20 million.The buying of stake in the airline is expected to mark a significant stride towards diversifying Ghitha Holding’s robust portfolio
The Turkish airline offers specialized services including scheduled and block space charter, aircraft, crew, maintenance and insurance
Abu Dhabi Airports appoints Elena Sorlini as Managing Director and CEO
Abu Dhabi, UAE - Abu Dhabi Airports, the operator of Abu Dhabi's five commercial airports, has announced the appointment of...Since joining Abu Dhabi Airports, Sorlini has overseen the successful opening of Abu Dhabi International Airport's new state-of-the-art Terminal A
Additionally, she has played an important role in maintaining the steady increase of passenger traffic numbers, which continue to experience year-on-year growth
Investors eye UAE’s booming sustainable finance sector
"Numerous opportunities exist in sustainable investments, especially in sectors like building systems, renewable energy, water, food and agriculture, shipping, among...The UAE is experiencing remarkable growth in sustainable finance, according to Barclays Private Bank UAE CEO Rasha Badawi.
Sustainable investment opportunities expanding in the UAE across various sectors including renewable energy and agriculture, she adds.
Jeddah Central Development Company signs 4 contracts worth $3bn
Jeddah, Saudi Arabia - The Jeddah Central Development Company, a company owned by the Public Investment Fund (PIF), signed four...The Jeddah Central Development Company will open the Jeddah Central destination to receive visitors at the end of 2027 from inside and outside the Kingdom
The destination will include the Stadium, the Opera House and the Oceanarium, in addition to a sandy beach, a pier, a seafront promenade, and a marina
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.
