Emirates Islamic profit rises 71%
The Bank’s total income reached AED 1.2 billion ($326.69 million)Company News Business
Hub71-backed ABHI to set up global headquarters in Abu Dhabi
DUBAI, UAE - With support from the Abu Dhabi Investment Office (ADIO), Hub71-backed ABHI, an embedded finance platform founded in...Business Tech & Media
Fertiglobe revenue grows by 118 percent
The company raised its H1 2022 dividend guidance to at least $700 million.Adjusted net income in Q1 2022 was $361 million, increasing by 332 percent year-on-year.
In March, Fertiglobe was announced as a founding constituent of the FTSE Russell ADX 15 Index.
Tourism recovering, but not back to pre-pandemic levels
Global tourism is roaring back to life despite Covid travel headaches and the effects of the war in Ukraine, but...International tourist arrivals worldwide have more than doubled, up 130 percent in Jan 2022 on the same period last year, according to UN World Tourism Organization data.
In 2019, global tourism revenues reached $1.48 trillion. That figure dropped by almost two thirds due to the pandemic the following year.
Emirates, Jafza sign MoU
They will explore ways to offer travel incentives to SMEs.The MoU was signed by Dina Al Herais, Emirates’ Vice President, Commercial Products, B2B Corporate & Leisure, and Ebtesam Ahmad Alkaabi, Head of Sales, Jafza Sales.
Emirates currently has over 20,000 SMEs enrolled in its Business Rewards program.
Russian gas to Europe via Ukraine down by almost a third
Ukraine is a major supply route for Russian gas to Europe and the two sides have kept flows going even...Ukraine's pipeline operator GTSOU said that it was halting gas transport at the Sokhranivka transit point
Germany said Wednesday that it saw a 25 percent drop in supplies of Russian gas flowing through Ukraine
Scarce French rainfall adds new cloud to global food market
World food prices hit an all-time high in March following Russia's invasion of Ukraine, which accounted for 20 percent of...France is Europe's agricultural powerhouse, the biggest grain producer in the 27-country bloc
The national weather service said France was in the grip of a hot spell with 20% less rainfall reported
Abu Dhabi’s global tech ecosystem Hub71 accepts 16 startups
Hub71, Abu Dhabi’s global tech ecosystem, has accepted 16 startups to join its community. By launching operations in Abu Dhabi,...The accepted cohort includes early-stage startups with diverse representation from leading international tech hubs including the UK, USA and South Korea.
Accepted in the cohort is UAE-founded Letswork, an app that allows members to book workspaces and work remotely.
Iraq strikes deal with Iran to secure summer gas imports
Iraq has agreed to pay $1.6 billion in debt to Iran by June 1 to secure a steady gas supply...Chronic underinvestment through decades of war and sanctions has left Iraq dependent on imports from its eastern neighbor for a third of its gas needs
But US sanctions on Iranian oil and gas have complicated Iraq's payments for the imports, leaving it in heavy arrears
SABIC posts 33% rise in profit
The chemical giant of KSA has posted SR6.47bn profit in Q4.The Riyadh-based company attributed the stronger results to higher average selling prices which were up 3 percent
The company CEO said SABIC will remain focused on delivering its growth strategy
SoftBank posts record loss as tech shares nosedive
Japanese investment giant SoftBank Group on Thursday logged a record annual net loss after a bruising year that saw its...In the past six months, the tech-rich US Nasdaq index has lost more than 28 percent of its value
The Japanese group's losses were deepened by the many shares it holds in Chinese ride-hailing giant Didi Chuxing and e-commerce group Alibaba
Energy firms’ climate commitments lack credibility: report
The climate commitments of global energy giants lack credibility as they rely on costly technologies that have yet to be...The research found that so far only four of the firms have made pledges that include a reduction in the emissions generated by the use of their products
And only four have set 2030 reduction targets, which are important in driving quick progress and being able to evaluate progress
