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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

  • UAE startup faces mental-health struggles head on

    Having struggled to deal with the loss of a loved one and postpartum depression, Hammad and Takalam co-founder Inas Abu...

    “Breaking taboos around mental health is the need of the hour,” said Emirati entrepreneur Khawla Hammad

    Takalam co-founders Inas Abu Shashieh and Hammad acknowledge that embracing vulnerabilities is often the first step to improving mental health

  • Sharjah records real estate transactions worth $1.71 billion during Q1

    A total of 21,615 real estate transactions worth AED 6.3 billion ($1.71 billion) were executed in Sharjah during the first...

    March witnessed the highest value of transactions with a total of AED2.7 billion, recording an increase by 32.3 percent compared to February.

    Sector-wise, residential properties topped the list of properties sold in the emirate with 1,225 properties,.

  • FAB Q1 net profit $1.38 bn

    The results represent the highest quarterly net profit in the bank's history.

    The bank's total income reached AED 7.3 billion and includes an AED 2.8 billion net gain on the disposal of majority stake in payments business Magnati.

    Core underlying performance was healthy, driven by higher net interest income, a pick-up in fees and commissions.

  • Dubai sets up $100m fund to support fintech startups

    Dubai has set up a $100 million venture capital fund in order to provide financial support to fintech startup companies....

    “We are committed to create a vibrant business environment and provide the opportunities to promote excellence,” Sheikh Hamdan said in a statement

    The fund is expected to contribute around 1 billion dirhams ($815 million) to the country's GDP during the eight-year implementation period

  • JAFZA hold groundbreaking for park

    The new logistics park is scheduled to open in 2023.

    The purpose-built trading and logistics development will accommodate the growing number of warehousing, processing and logistics activities carried out in Dubai, JAFZA said.

    Jafza’s logistics cluster is home to over 460 companies from 30 countries, almost all international logistics providers which already operate from the free zone.

  • Unilever posts rise in revenue

    The British firm reported $14.5bn revenue in Q1.

    Unilever said in a trading statement that its higher prices had turned off some customers, with volume of sales down one percent

    Inflation, which was accelerating sharply as economies reopened from Covid lockdowns, has worsened following Russia's invasion of Ukraine

  • China to cut coal import taxes to ensure energy security

    China will slash coal import tariffs to ensure energy security, the finance ministry said Thursday, the latest move to cast...

    Beijing is the world's biggest importer of coal, but import volumes dropped in the first quarter of the year and energy prices have surged globally

    Policymakers in Beijing have long walked a tightrope balancing climate objectives with domestic growth

  • Total deposits by February end $541 billion: Central Bank of UAE

    The Central Bank of the UAE said that total bank deposits increased by 0.3 percent, climbing from AED 1,982.4 billion...

    The bank said the rise in total bank deposits was due to growth in Resident Deposits by 0.5 percent, overshadowing the reduction in Non-Resident Deposits by 1.4 percent.

    The Money Supply aggregate M1 increased by 0.8 percent, from AED 706.5 billion at the end of January 2022 to AED 712.1 billion at the end of February 2022.

  • Boeing shares dive on $1.2bn loss

    The company is set for recovery in 2022-23, said analysts.

    Boeing shares finished 7.5 percent lower at $154.46, beyond the expectations of analysts as the firm is delaying release of its 777X model

    Boeing will lift production of 737 MAX in next quarter of this year as it has reported a jump in the plane deliveries during the first quarter

  • TotalEnergies makes $4.1 bn writedown on Russian gas project

    French energy firm TotalEnergies said Wednesday it had taken a $4.1 billion impairment charge on its Arctic LNG 2 gas...

    TotalEnergies took a stake in the project in 2019, making it its second in Russia's extreme north alongside the Yamal LNG facility

    Chief executive Patrick Pouyanne said last month that TotalEnergies would not suddenly stop its Russian operations completely