Michelin posts record operating profits
Sales at the French firm dipped last year to US$30.5bn.Business
UAE residents anticipate full electric and hybrid vehicle takeover in coming years: survey
Dubai, UAE - About 63% of respondents in the UAE plan to make EVs their primary mode of transport by...Business
UAE’s gender diversity policy sees more women in board positions
In 2020, women held 3.5 percent of all board positions in the UAE. The next year, the Securities and Commodities...Aurora50, a social enterprise working towards gender parity in GCC boardrooms, and Mohammed Bin Rashid School of Government have conducted first-of-its kind gender diversity study.
The study report said 77 of the 868 board seats from the 115 listed companies on the ADX and Dubai Financial Market are now held by women.
Musk sued for $258 bn over dogecoin promotion
An investor in dogecoin, originally created as a joke but whose value increased and fell as it was promoted by...Since Musk began promoting the virtual currency, investors have lost around $86 billion, Keith Johnson, an investor, estimates
Founded in 2013, dogecoin's creators say it was intended as an ironic response to two big internet phenomena: cryptocurrencies, and a meme image of a Shiba Inu dog
Gazprom defends gas cuts as energy prices soar
Gazprom CEO Alexei Miller said that Moscow will play by its own rules after cutting daily gas supplies to Germany...Gazprom CEO Alexei Miller said that Moscow will play by its own rules after cutting daily gas supplies to Germany and Italy
Italian energy giant Eni also reported problems, saying it will receive only 65 percent of the gas requested Thursday from Gazprom
Investments, innovations help MENA smart cities grow
Intelligent transportation system, speedy 5G deployment and heavy investment in AI are pushing region's smart city growth, says Omar Christidis,...Saudi Arabia alone has plans to invest $36 billion in transportation infrastructure projects over the coming 11 years
Around 83 percent of the Saudi population lives in urban areas, and urbanization is expected to grow to 97.6 percent by 2030
Bank of England hikes interest rate for fifth consecutive time
British economic output declined for the second month in a row in April, weighed down by rocketing prices that are...BoE policymakers agreed at a regular meeting to increase the cost of borrowing by a quarter-point to 1.25 percent.
Pound fell 1 percent against the dollar following the announcement, one day after the Federal Reserve hiked US interest rates.
Qatar Airways posts record profit
The profit result was "200 percent above its highest annual historical profit".Qatar Airways, the Middle East's second biggest airline after Emirates, had reported in September last year an overall loss of $4.1 billion in the 2020-2021 financial year.
The Qatari airline said it carried 18.5 million passengers in 2021-2022, an increase of 218 percent over the previous 12-month period.
Iraq settles $1.6 billion payment of Iranian gas imports
The debt dates back to 2020, but payment was stalled amid sanctions against Iran by the United States.Baghdad had been scheduled to pay that amount to Tehran before the start of June.
Tehran has repeatedly cut off gas supplies to force Baghdad to pay off its debts.
ENOC to open 10 new eLink stations
The group has seven eLink stations, five located in Dubai and two in Abu Dhabi.The eLink station is a mobile fuelling format that enables motorists and customers with easy access and convenient fuelling services.
Since its launch, eLink has fuelled over 100,000 vehicles with a total fuel volume of nearly 5 million.
Integrated solutions make life a bit easy for SMBs
An integrated, modern, end-to-end solution can provide SMBs with more visibility, flexibility and efficiency in managing finances, operations and people....Many small and medium businesses still use a combination of standalone, on-premises business solutions for accounting, payroll and human resources
An integrated, modern, end-to-end solution can provide SMBs with more visibility, flexibility and efficiency in managing finances, operations and people
Tecom lists 12.5% shares on DFM
Price for the 625,000,000 shares ranges between AED2.46 and AED2.67 per share.Tecom Group, the owner, manager and operator of 10 business districts across Dubai, will float 625,000,000 shares
The qualified institutional offering and the exempt offer subscription period is expected to run from June 16-24
