A hospitality trailblazer talks resilience in a shifting global landscape
Duncan O’Rourke, CEO, Premium, Midscale, and Economy Division for Middle East, Africa and Asia Pacific at Accor, spells out the...Business
MENA Mergers & Acquisitions deal value up 66% in Q1, hits $46 Billion
Dubai, UAE -- The Middle East and North Africa (MENA) region has kicked off 2025 with a record-breaking first quarter...Business
Nvidia profit soars to US$12.3bn
The company's revenue spiked to US$22.1bn.The chip titan posted profit of $12.3 billion on record revenue of $22.1 billion in the quarter than ended late January
Its shares jumped nearly eight percent to $732.99 in after-market trade, following the release of the earnings results
Korea’s H2O sets up base in Abu Dhabi
It will collaborate with Abu Dhabi Investment Office.The move is indicative of deepening economic ties between South Korea and Abu Dhabi with a focus on innovation and technology
The company's headquarters in Abu Dhabi Global Market (ADGM) will drive the next phase of its international growth out of Abu Dhabi
Boursa Kuwait posts $51m net profit
Operating profit for 2023 was recorded at US$59 million.Total operating revenues of US$99 million were recorded for 2023.
Consolidated assets came in at approximately US$386 million in 2023.
Stock markets diverge before Nvidia results, Federal Reserve minutes
Stock markets diverged as traders awaited earnings from US tech darling Nvidia, in addition to minutes from the Federal Reserve...In the eurozone, the Frankfurt and Paris stock markets edged higher in afternoon deals.
Hong Kong and Shanghai bourses jumped after Beijing's latest measures to boost China's stuttering economy.
Glencore 2023 profit down 75%
The company said lower energy prices cut into its profits.Gross operating profit fell 50 percent to $17.l billion, "primarily reflecting the rebalancing and normalization of international energy trade flows," it said
The commodities trading unit saw operating profit fall 46% to $3.5 billion, "with coal and LNG (liquefied natural gas), and to a lesser extent, oil prices materially declining"
Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023
DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...The total number of F&B companies registered with Dubai Chamber of Commerce stood at 22,585 at the end of 2023.
Dubai Chamber of Commerce launched 11 business groups dedicated to the industry, eight of which were set up in 2023.
e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.Consolidated revenues reached US$14.6 billion which is a growth of 8.3 percent year-over-year.
Consolidated EBITDA rose by 3.7 percent year-over-year at constant exchange rates, to US$7.1 billion.
MENA print media revenues fell 30% from 2018 to 2022: survey
The report stresses the urgent need for MENA news organizations to overhaul business models, adopt digital strategies, and diversify content...The analysis also forecasts a compound annual growth rate (CAGR) of -4% up to 2027, which could cause total MENA revenues to fall even further to US$1.2 billion
The figures also show that while digital advertising revenues are slowly increasing at a rate of 1% per year, print advertising revenues are set to slump by 11.3% by 2027
HSBC posts record profit of US$30.3bn
The bank would initiate a share buyback of up to US$2 billion.HSBC reported pre-tax profits of $30.3 billion, up from $17.1 billion the year before, in a statement to the Hong Kong stock exchange
The bank said the profits included a "favorable year-on-year impact" of $2.5 billion due to the sale of its French retail banking operations
Dubai food and beverage sector stirs up with investment of US$577m
Dubai, UAE-- The food and beverage sector in Dubai has attracted new FDI worth $577 million from 2019 to 2023,...The sector in the UAE generated $16.4bn in retail sales, including fresh food and packaged food
Last year, consumers across the country spent some $1.1bn on food ordered on e-commerce platform
