Airlines less optimistic for 2025, facing ‘headwinds’: IATA
New Delhi, India -- Airlines on Monday revised down their traffic and profit forecasts for 2025, citing "headwinds" for the...Business Aviation
ADNOC Drilling profit soars 29%
The company's revenue for the year 2023 was US$3.05bn.The company's EBITDA for 2023 shot up 20 percent to US$1.483 billion with industry-leading EBITDA margin of 49 percent
It added 14 new drilling units in 2023, including four lease-to-own land rigs, making it one of the world’s largest fleets of 129 rigs
Al Mal Capital REIT to launch rights issue
The fund has an existing portfolio valued at US$158m.Its CEO said the issue is a step in their journey to generate consistent and sustainable value for investors
The fund has an existing portfolio valued at $158 million, primarily invested in educational assets in the UAE
Energy transition led Saudi Arabia to halt oil expansion, says official
RIYADH, SAUDI ARABIA – The Kingdom's surprise decision to halt a planned expansion of its oil production capacity reflects ambitions to...Aramco announced on January 30 that the energy ministry had ordered it to maintain production capacity at 12 million barrels per day.
Officials in the world's biggest crude exporter did not explain the move, leaving analysts to speculate that it reflected lack of confidence
solutions by stc, Devoteam ink MoU
The aim is to foster avenues for collaboration in technology.The pact follows and builds upon the acquisition by solutions of a 40 percent stake in Devoteam Middle East.
The collaboration also aims to combine the experience and resources of the parties for mutual benefit.
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...The survey also found that 73% respondents are confident that the UAE will have charging stations every few kilometers by 2028
It also highlights a substantial wave of interest in EVs, with 26% of non-EV owners expressing interest in purchasing one in the next 12 months
GPSSA issues circular on pensions, gratuity in UAE
ABU DHABI, UAE – The Emirates General Pension and Social Security Authority (GPSSA) has issued a circular to government and...The circular included limiting the procedure of deduction from the pension or end-of-service gratuity for the benefit of GPSSA's debt.
In cases of unlawful disbursement, GPSSA has the right to deduct from other beneficiaries' shares, proportional to their entitlements.
Several nations eager to join Charter of Cooperation, says OPEC Secretary-General
ABU DHABI, UAE - Secretary-General of the Organization of Petroleum Exporting Countries Haitham Al Ghais said that OPEC is in...The names of these countries will be announced after the completion of the ongoing consultations, the OPEC chief said.
He said the Charter helps facilitate dialogue and exchange views regarding conditions in the global oil and energy markets.
WEF24: AI-generated drugs promise cost reduction
AI is playing a critical role across the biomedical spectrum, from accelerating drug discovery to improving care delivery systems, says...AI is playing a critical role across the biomedical spectrum, from accelerating drug discovery to improving care delivery systems, says Dr Alex Zhavoronkov of Insilico Medicine.
The latest technology enables end-to-end systems, and today, what we see is the true pinnacle of AI-powered drug discovery: the integration of AI and robotics, he adds
Toyota’s Daihatsu resumes domestic production
It will make the Probox van and Mazda-branded Familia van.The Toyota-owned firm's factory in Kyoto resumed manufacturing of the Probox van and Mazda-branded Familia van, a Daihatsu spokesman told AFP
Daihatsu will resume production of 10 other models on February 26, after the transport ministry confirmed they met safety regulations, it said last week
Barwa Real Estate net profit up
It posted an 8% jump in net profit to US$337m for last year.The developer's earnings per share (EPS) amounted to QR0.316 for the year ended December 31, 2023 compared to an EPS of QR0.292 in 2022
Its board of directors proposed the distribution of a cash dividend of 18 percent of the shares’ par value at the rate of QR0.18 per share
