DIFC records 25 percent rise in registered firms in H1 2025
Dubai, UAE -- Dubai International Financial Centre (DIFC), the leading global financial center in the Middle East, Africa and South...Business
First foreign firm takes ownership of Saudi football club
The Harburg Group -- led by American Ben Harburg -- said it had "officially completed the 100 percent acquisition of...Business Sports
BP to pour US$1.5bn into Egypt oil exploration
It plans to hike investments in the country to US$5 billion.Its CEO said the company plans to maximise the benefit from the current facilitation on oil and gas exploration activities in land and sea areas
The production plans are being stepped up to meet the growing demand of the local market and to support Egypt's endeavours to export the surplus energy
BHP net profit tumbles 86%
Its sales jumped 6% to US$27.2bn in half-year results.The company's net profit dropped 86 percent to $927 million as it took a hammering from exceptional items
The mining giant said last week that it was writing down its Western Australian nickel assets because of a market slide
Consumer products sector grows amid rising prices
The consumer products sector enjoys tremendous growth, with retail sales value for the industry globally rising by close to 10...The consumer products sector enjoys tremendous growth, with retail sales value for the industry globally rising by close to 10 percent year on year in 2023, says a report.
However, the sector remain at a crossroads, with inflation, digital transformation, and sustainability shaping the future, adds the latest report by Bain & Company.
stc 2023 revenues is $19.28bn
Gross profit for 2023 rose 1.1 percent compared to 2022.The growth was mainly attributed to the increase in commercial unit revenues by 5.1 percent
It was also due to rise in carriers and wholesale unit revenues by 1.4 percent in stc KSA,.
Construction in China-Saudi Arabia ethylene project begins
FUZHOU, CHINA - Construction of the main complex of a joint-investment ethylene project, which involves petrochemicals giant Saudi Basic Industries...The project is being built in the Gulei petrochemicals base in Zhangzhou city, in eastern China’s Fujian Province.
The project entails a total investment of $6.3 billion from SABIC and Fujian Energy Petrochemical Group Co. Ltd.
Iran-EU trade surpasses US$5bn in 2023, says Eurostat
TEHRAN, IRAN - The Statistical Office of the European Union (Eurostat) reported that Iran and the 27 European Union member...Trade between Iran and member states of the EU recorded a decrease of 9 percent from January to December 2023.
During that period, the exchange of products between Iran and the EU member states was valued at US$5 billion.
KEZAD Group, Al Ghurair Group’s APT ink lease pact to set up manufacturing facility
ABU DHABI, UAE – Khalifa Economic Zones Abu Dhabi (KEZAD Group) and Al Ghurair Group subsidiary Automotive Precision Technology (APT)...The 30,000 square meters advanced manufacturing facility for APT in KEZAD will be located adjacent to Emirates Global Aluminum.
The facility will be one of the largest manufacturers of aluminum in the world and will be operational by early 2025.
Passenger traffic could exceed earlier figures, says Dubai Airports’ CEO
DUBAI, UAE – The airport here has "every chance" of breaking its record for passenger traffic this year after surpassing pre-pandemic...Dubai International, the world's busiest airport for international passengers for nearly a decade, hit 87 million visits in 2023.
Dubai Airports' official forecast for 2024 stands at 88.8 million passengers, despite the Israel- Hamas war which began in October.
SCC committee discusses issues related to Sharjah’s economy and tourism
SHARJAH, UAE - The Financial, Economic and Industrial Affairs Committee of Sharjah Consultative Council (SCC) held a meeting to discuss...The committee addressed the outcomes of its recent visit to Sharjah Commerce and Tourism Development Authority.
The committee was briefed about the authority’s efforts to stimulate tourism by conducting events throughout the year.
Nintendo shares tumble 8.5%
Its next-generation console will be delayed until 2025.A news report said the next console would miss the key Christmas holiday shopping period in December
The gadget is fading with the console now in its seventh year, but the company is tight-lipped about its plans
