Etihad Atheeb 9M profit $47m
Higher revenues from various segments boosted profit.Company News Business
WEF calls for new partnerships to save fragile communities
The World Economic Forum has pleaded for a new partnership between various stakeholders in order to make a difference to...In a paper released by the WEF, it calls for new collaboration between humanitarian and development organizations, businesses, investors and entrepreneurs
Over the next three years the partnership will develop innovative business models and investments that strengthen local economies
Digital technologies can cut greenhouse gas emissions: WEF
Digital technologies can reduce greenhouse gas emissions by up to 20% by 2050 in the three highest-emitting sectors: energy, mobility...As businesses and governments respond to global calls for action to tackle climate change, significant efforts must be put in place to achieve net zero
The results were released during the WEF Annual Meeting 2022 - the focal point for leaders to accelerate the partnerships needed to tackle global challenges
WHO members agree to overhaul health body’s funding
Shaken by the pandemic, the World Health Organization's member states agreed Tuesday to overhaul how they fund the UN health...The change will give the WHO a more stable income stream and control over a much bigger portion of the funding flowing through its Geneva headquarters
Tedros, who was re-elected earlier Tuesday, has made overhauling the agency's finances a key plank of his leadership
GCC businesses need to diversify board members
The percentage of women on boards in corporate houses across the GCC countries is low, Christiane Schloderer, INSEAD Alumni Association's...Boards that lack women representation suffer reputational and possibly regulatory issues, says Christiane Schloderer, INSEAD Alumni Association's senior member
Remuneration and placement committees, headhunters, and chairperson play an important role in appointing women in the key positions, she says
Tokyo stocks open lower after US stocks slide
Tokyo stocks opened lower on Wednesday after US stocks mostly retreated on concerns about growth following a profit warning from...The dollar fetched 126.68 yen in early Asian trade, against 126.86 yen in New York on Tuesday
Sony Group dropped 1.19 percent to 11,235 yen, Hitachi fell 1.22 percent to 6,545 yen, and Fujitsu was off 1.45 percent at 19,330 yen
Energy, technology and finance lead Gulf IPOs
Energy, utilities and natural resources account for 42% of the total IPO proceeds, TMT 27% and financial services 21%, Odin...Overall, equities in GCC capital markets performed well, with deal volume and valuation up 369 percent in 2021 compared to 2020, bringing in $7.7 billion in new money.
Energy, Utilities and Natural Resources accounted for 42 percent of the total IPO proceeds, TMT 27 percent and financial services 21 percent.
ADNOC partners with BP, Masdar
The three firms will create green hydrogen and sustainable aviation fuel.ADNOC and BP will begin the design phase of the H2Teesside low-carbon hydrogen project.
Cooperation agreements related to BP's HyGreen Teesside, a large-scale green hydrogen production facility in UK.
UAE firm inks airport deal as Afghanistan eyes international flights
A United Arab Emirates company signed a contract with the Taliban authorities Tuesday to provide ground handling services at Afghanistan's...UAE firm GAAC, which was previously operating in Afghanistan, signed a new 18-month contract covering three airports: Kabul, Kandahar and Herat.
GAAC has provided ground handling services at Kabul airport since November 2020, and played a key role in rehabilitating the facility in August.
Standard Chartered, flydubai sign deal
The Sale and Leaseback (SLB) agreement is for five new Boeing 737 MAX aircraft.Four of the aircraft were delivered between March and May 2022, while the remaining aircraft is scheduled to arrive from Boeing before the end of the first half of the year.
The deal was structured, financed and arranged exclusively by Standard Chartered.
Dubai records $386 million in real estate transactions on Monday
Dubai real estate market recorded 552 sales transactions worth AED 1.42 billion ($386 million) and 78 mortgage deals of AED...The sales included 427 villas and apartments worth AED 878.57 million, and 125 land plots worth AED 540.79 million.
The emirate's real estate market recorded the highest number of transactions since 2010 registered in a single quarter and the highest volume since Q1 2014.
