Stable credit conditions make GCC firms resilient
Gulf companies benefit from supportive credit environments, ensuring resilience in 2024 despite global economic challenges and geopolitical risks, says a...Business Banking & Finance
Burjeel Holdings net profit up
The company’s 2023 annual revenue rises to US$1.2 billion.Company News Business
Wheat prices fall as Russia-Ukraine export agreement takes off
Wheat prices tumbled Friday, retreating to levels last seen prior to the Russian invasion of Ukraine following a landmark agreement...Russia and Ukraine together produce about 30 percent of the world's wheat exports
Despite Friday's retreat in wheat prices, analysts expressed skepticism about the accord's ability to sidestep the realities of the grinding Russia-Ukraine conflict
Commercial Bank International launches virtual location in Metaverse
CBI is the first-ever bank in the UAE and the Middle East region to have a location in the Metaverse.CBI is the first-ever bank in the UAE and the Middle East region to have a location in the Metaverse
Metaverse is a virtual world, where people can interact, explore, and access services as digital avatars of themselves
Saudi Arabia unveils plan to automate 4,000 factories
Saudi Arabia will automate some 4,000 factories in order to enhance competitiveness, efficiency and quality of industry.Saudi Ministry of Industry and Mineral Resources has launched a program aiming to move factories away from relying on low-skilled workers to instead automating their manufacturing
It has also announced the adoption of the Smart Industry Readiness Index methodology to assess the operational readiness of factories
Twitter takes a dig at Elon Musk for bad results
Twitter blamed disappointing results Friday on "headwinds," including the uncertainty imposed on the company by Elon Musk's chaotic buyout bid....Despite the less than stellar results, Twitter's stock closed up nearly one percent at $39.84, as investors seemed relieved the news wasn't worse
Twitter notched a victory earlier this week in its fight with Musk, when a judge agreed to a fast-track trial on whether to force the billionaire to complete the buyout
Crises put Gulf investments in Sri Lanka at stake
The region has invested billions of dollars across sectors in the South Asian nation as recent past witnessed an expansion...The region has invested billions of dollars across sectors in the South Asian nation in the recent past
Sri Lanka has been enduring shortages of food, fuel, medicines and other essentials for months
Abu Dhabi records $6.13bn of real estate transactions in H1 2022
Abu Dhabi's real estate market sustained growth driven by investor optimism, recording 7,474 property transactions amounting to over US$6.13 billion...Abu Dhabi's real estate market recorded 7,474 property transactions worth over US$6.13bn in H1 2022
Department of Municipalities and Transport half-yearly report says all kinds of land, buildings and real estate were purchased, sold and mortgaged
Twitter Q2 revenue at $1.18bn
Twitter reported disappointing results on Friday, a miss that the social network attributed to "headwinds" including the uncertainty related to...Twitter missed expectations with revenue of $1.18 billion, due to "advertising industry headwinds"
Uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk is also touted as a reason for the results
‘Bilateral ties strengthened with UAE President’s France visit’
The French Ambassador to the UAE, Xavier Chatel, described the first official visit to France of UAE President Sheikh Mohamed...The French Ambassador to the UAE described the first official visit to France of UAE President as successful
Sheikh Mohamed bin Zayed Al Nahyan's visit underscores deep-rooted friendship between the two countries
Allotted industrial & commercial land rules in Dubai amended
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister has issued a decree regulating the grant of title...Sheikh Mohammed bin Rashid issued Decree No. (25) of 2022 amending some of the articles of Decree No. (4) of 2010
Article (1) outlines the definitions in the decree, while Article (2) covers the ownership of granted land
French oil, shipping firms reduce prices under government pressure
French oil group TotalEnergies and shipping giant CMA CGM announced price cuts on Friday as demanded by the government amid...French oil group TotalEnergies and shipping giant CMA CGM announce price cuts
The French government demanded that energy and transport firm cut prices amid calls for windfall taxes
