Digital transfers reshape MENA’s financial landscape
The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong...The region sees a robust future for digital cross-border transfers in the Middle East, marked by innovation and a strong commitment to financial inclusion, says a report.
COVID-19 expanded the diaspora's role in digital payments, boosting prepaid services and accelerating the shift from cash to digital via cryptocurrencies and blockchain.
WTO ministers struggle to forge deals as talks go into overtime
ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as...The meeting opened with disagreements between the body's 164 member states on key issues that dominated the agenda of the talks.
They include fisheries subsidies, agriculture and a moratorium on customs duties for digital transactions.
Major stock markets trade mixed as US inflation data awaited
London, United Kingdom - Major stock markets traded mixed Thursday before the release of US inflation data that could present a...Shares in Air France-KLM slumped nine percent after annual profit fell short of expectations as it fell into a final-quarter loss
Yen jumped on rising expectations of a hike to Japanese interest rates, as other central banks look to reduce borrowing costs
QFC signs two MoUs
MoUs with BFB, Partior were inked during Web Summit 2024.The MoU with Bahrain FinTech Bay establishes comprehensive frameworks for cooperation in joint research projects.
Under the MoU, each entity shall provide support, assistance and resources to start-ups from the QFC and BFB.
Abu Dhabi residential sector achieves record growth in 2023, says report
ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...The increase in demand for residences has been driven by several positive initiatives and announcements by the government.
Off-plan transactions accounted for approximately 84 percent of all villa and townhouse transactions.
British Airways profit soars six-fold
The company said it was 92% booked for the first quarter of 2024.Profit after taxation jumped to 2.7 billion euros ($2.9 billion) in 2023 from 431 million euros in 2022, the airline conglomerate said in a results statement
The company also issued a rosy outlook rooted in "robust" demand, adding that it was 92-percent booked for the first quarter of 2024 and 62-percent booked for the first half
Electronic Arts announces job cuts
The company is cutting about 5 percent of its workforce.The company behind hits including soccer game "FC24" is also "sunsetting" some titles and stopping development of others it thinks will not be successful
The annual report Electronic Arts last year indicated it had 13,400 employees, meaning about 670 positions are being eliminated
Egypt signs several MoUs with global developers in renewable energy
Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global...The agreements to set up geen hydrogen projects represent a new step or the Sovereign Fund of Egypt in its partnerships with global companies
The green projects are expected bring in investments of $12bn for the pilot phase and $29bn for the first phase, for a total of $40bn over 10 years
Air France-KLM posts profit
The airline reported record revenue of US$32.49bn in 2023.The airline also posted revenue of $32.49bn, while adding that it had returned to positive equity for the first time since 2019
The airline alongwith subsidiary Transavia transported a total of 93.6 million passengers last year, up 10.3 million on 2022
Singapore’s Petrozo Energy setting up Sharjah base to target Middle East
Sharjah, UAE – Petrozo Energy, a leading Singapore-based oil and gas company, has announced a plan to establish a new...Petrozo operates a global network with offices across Indonesia, India, Thailand, the UAE, Hong Kong, Bangladesh, the USA and other countries
The company is renowned for its extensive portfolio, producing a variety of products including fuel oils, petrochemicals, bitumin and naphtha
Oracle shares up 35%
Huge AI contracts lead to the surge.
ADCB to raise $1.66bn
The rights issue aimed at boosting growth.
EGA H1 revenue $4.11bn
Net profit before GAC $445 million.
Borouge to pay $660m H1 dividend
Its net profit for H1 was $474 million.
TAQA secures $2.31bn loan
It will be utilized in a phased manner.
