‘Digital transformation levels the playing field for GCC small businesses’
Digitalization is revolutionizing GCC entrepreneurship, offering vast opportunities and challenges, and driving innovation and growth, Jigar Sagar, an influential figure...Business Thought Leaders
UK’s richest family get jail terms for exploiting staff at Swiss villa
Geneva, Switzerland -A Swiss court handed jail sentences to four members of Britain's richest family on Friday, branding them "selfish" for...Business
Dubai Customs records 30.4m transactions in 2023, posting 17.5% growth
Dubai, UAE--Dubai Customs has successfully processed more than 30.4 million customs transactions during the entire year of 2023. This set...The figures for 2023 have set a new record for the highest number of customs transactions by Dubai Customs, showcasing a 17.5% growth
The new accomplishment has resulted from the ongoing success of the Comprehensive Economic Partnership Agreements program
European Union probes Lufthansa’s proposed ITA Airways stake
The European Commission said it had "preliminary concerns that the transaction may reduce competition in the market for passenger air...Lufthansa, one of Europe's biggest carriers, last year agreed to pay 325 million euros ($350 million) for a 41 percent stake in ITA
The deal provided the German company various options to increase its stake or acquire ITA Airways outright at a later date
P&G posts mixed quarterly results
Earnings per share dropped 12 percent to $1.40.The company behind Bounty paper towels, Gillette razors and Tide detergent saw its revenue rise three percent from a year ago to $21.4 billion in the quarter ending in December
This was slightly lower than expected, and analysts are eyeing the performance of P&G and other consumer companies on whether they can keep prices up even as inflation cools
Zee’s shares fall after merger fails
Disagreement over who would lead the new entity led to merger's failure.The initial 30 percent plunge saw Zee lose as much as 55 billion rupees ($661 million) in market value.
"Considering that Zee still has six billion rupees cash on books... we see no bankruptcy risks," an expert said.
Masdar, 3 firms sign agreement
They will establish e-methane supply chain from UAE-Japan.Masdar tweeted that this partnership will contribute to both nations’ shared goal of achieving carbon neutrality by 2050.
E-methane is synthetic methane produced from carbon dioxide (CO2) and green hydrogen.
Dubai real estate market records $925 million in daylong transactions
Dubai, UAE -- Dubai's real estate market recorded 510 sales transactions worth AED1.36 billion on Tuesday, in addition to 210...The sales included 446 villas and apartments worth AED949.04 million, and 64 land plots worth AED411.67 million.
On Monday, emirate recorded 715 sales transactions worth AED2.28 billion, in addition to 201 mortgage deals of AED993.9 million.
Estithmar sets up issuance program
The Group said the program is valued at $933 million.The Program is expected to be admitted to the London Stock Exchanges International Securities Market.
It has been rated (qaBBB) with a stable outlook at the national scale rating by Capital Intelligence Ratings Ltd (CI).
India’s stock market edges out Hong Kong to become world’s fourth largest
New Delhi, UAE--India's stock market has edged out Hong Kong to become the world's fourth-largest, a milestone that underscores growing...According to data compiled by Bloomberg, the value of shares listed on Indian exchanges hit $4.3trn on Monday, higher than Hong Kong's $4.29trn
Hong Kong's benchmark Hang Seng index, which includes shares of many influential Chinese companies, ended last year 14 percent lower
Airports fly into technology, security innovations
“The future of travel heavily depends on the transformative power of biometrics and touchless passenger experiences. These innovations aim to...Thani Alzaffin of Emaratech Group highlights the crucial role of advanced technologies in modernizing airport security.
Middle Eastern airports are adopting state-of-the-art security measures, including facial recognition and iris scans.
Bahrain and GCC look to boost ‘convention, exhibition’ industry
Manama, Bahrain-- Bahrain and the Gulf Cooperation Council (GCC) are looking to boost cooperation in the convention and conference industry...The Bahrani minister spoke of the kingdom's resolve to continue developing the exhibitions' sector by providing it with facilities
The two sides discussed establishing more major international events and exhibitions across the cities of the GCC countries