Cinema ticket prices in Saudi Arabia decline by 16% in 2023
Riyadh, Saudi Arabia - The average cinema ticket prices decreased by over 16% in 2023 compared to the previous year,...Business Economy
France flooded with applications for electric car leasing scheme
Paris, France - The French government has been flooded with applications from low-income households to lease a subsidized electric car from...Business Economy Energy Climate Change
Aldar acquires stake in AD Business Hub
The UAE-based Aldar Investment is the subsidiary of Aldar Properties.The acquisition marks the creation of Aldar Logistics, the company's new logistics real estate vertical.
Aldar Logistics will focus primarily on the UAE, potentially expanding into Saudi Arabia and Egypt, said an Aldar press release on Tuesday.
e& Q1 net profit $653m
Its consolidated revenues rose 0.8 percent to AED13.3 billion.At constant exchange rates, revenue rose 3.5 percent and EBITDA was up 2.8 percent year-over-year
The number of Etisalat UAE subscribers reached 13.1 million in Q1 2022
Alwaleed blinks as Musk buys Twitter
Prince Alwaleed is one of the wealthiest businessmen in the Middle East, but Elon Musk is the richest person in...Last week, KHC Chairman and Twitter shareholder Prince Alwaleed rejected Elon Musk's bid to acquire Twitter Inc for $54.20 per share
Alwaleed had stated that the deal proposed by Musk did not ‘come close to the intrinsic value’ of the popular social media platform
UAE’s first waste-to-energy plant set be commissioned
The 30 MW plant will displace almost 450,000 tonnes of CO2 emissions a year and preserve the equivalent of 45...The 30 MW plant will displace almost 450,000 tonnes of CO2 emissions a year and preserve the equivalent of 45 million m3 of natural gas
BEEAH and Masdar have begun exploring opportunities for the Emirates Waste to Energy company to open similar plants across the UAE and the wider region
Indian PM meets UAE business delegation on visit to Kashmir
Modi said a total of $4.97 billion private investment is on its way to Jammu and Kashmir.Modi said a total of $4.97 billion private investment is on its way to Jammu and Kashmir
In August 2019, New Delhi revoked Article 370 of India’s constitution that lent the then state its autonomous status within the Indian Union
Arab Brazilian Chamber, FUNAG sign cooperation MoU
The agreement is expected to reinforce the ABCC’s operations in the cultural area and allow for it to get closer...The cooperation agreement apparently provides for a collaboration in research, studies, and academic activities in areas of common interest
These include bilateral relations and diplomatic history, trade, investment, science, technology and innovation, sustainable development, and energy
HSBC Q1 pretax profits down 30%
Higher-than-expected credit losses and inflation are to blame.Tuesday's results of London-based HSBC were published against the backdrop of Russia’s invasion of Ukraine
The bank said the war was exacerbating inflationary pressures and contributing to higher ECL charges
New trends drive Arab automotive growth
From pre-owned cars to electric vehicles, a number of trends are driving the growth of the automobile sector in countries...Saudi imports of cars grew from 544,000 in 2020 to over 546,000 in 2021
Around 28% of those polled in the UAE said they prefer to buy a used car online
Musk’s world and we just live in it
Buying Twitter is just the latest conquest for Musk, who has revolutionized the car industry, sent his own rocket to...Musk, 50, last year became the world's richest person taking the title from Amazon's Jeff Bezos
His new guise as a social media overlord will fuel controversy over his political views, business methods and outsized personality
Elon Musk reaches deal to buy Twitter for $44 bn
"Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to...The sale was a dramatic shift for the board, which had originally maneuvered to block Musk from taking the social media network private
Musk had taken a major stake in the firm earlier this month before lining up last week some $46.5 billion in financing to push forward with the purchase
