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TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘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.

  • e& to pay AED0.4 dividend

    The total annual dividend for 2021 is now Dh0.8 per share.

    The Group reported a net profit of AED 9.3 billion, an increase of 3.2 percent year on year

    It also saw a 3.0 percent increase in its aggregated subscriber base, rising to 159 million

  • UAE free zones set to gain from corporate tax relief

    Around 40 free zones in the UAE are likely to attract more investors and FDI after they were declared exempt...

    The 9-percent corporate tax will be levied on companies with profits above AED375,000 (approximately $102,090)

    Announced on January 31 by the UAE’s Ministry of Finance, the tax regime will be implemented from June 1, 2023

  • Qatar Development Bank launches program for micro-enterprises

    Qatar Development Bank (QDB) announced the launch of a version of the "Al Dhameen" program for micro-enterprises, for the first...

    Al Dhameen program for micro-enterprises is characterized by a profit rate and distinct conditions.

    He noted the program will contribute to the development of the national business system in terms of access to financing.

  • AUB to acquire Citi Bahrain unit

    The acquisition includes retail banking and credit card.

    Citigroup expects to close the transaction by the second half of this year, after which no changes will apply to the services provided to Bahraini customers.

    Citigroup plans to exit operations in 13 markets, including Bahrain, Australia, China, India, Indonesia and South Korea.

  • Lebanon central bank not bankrupt, says governor

    Lebanon’s Deputy Prime Minister Saadeh al-Shami claimed on Monday that the country and its central bank had gone bankrupt. The...

    Lebanon is in the third year of a financial implosion, which is widely blamed by experts on decades of corruption and bad policies

    These have led the currency to crash in value by more than 90 percent since end-2019, and banks to lock most savers out of hard currency

  • Amazon inks satellite deals

    Satellites in low orbit to provide internet service to people below.

    Amazon said that its contracts with Arianespace, Blue Origin and United Launch Alliance (ULA) are the largest commercial procurement of launch vehicles in history.

    The overall cost and timing of launches booked to make Amazon's Project Kuiper a reality were not disclosed.

  • Islamic banking tipped to grow in GCC

    Of recent, Islamic banking has been getting quite a boost from governments and financial institutions in the Gulf Cooperation Council.

    Islamic banks are prohibited from collecting or paying interest, which raises the question: How do they make a profit, or even stay in business?

    The answer is that they make money through equity participation, which requires a borrower to give the bank a share of their profits

  • Oman to generate 25 GW of solar, wind energy

    The country aims to produce 25 gigawatts (GW) of renewable solar and wind energy, which will be used to produce...

    The country aims to produce 25 gigawatts (GW) of renewable solar and wind energy, which will be used to produce over 1.5 million tons of carbon-free hydrogen per year.

    Najla Zuhair Al Jamali, Executive Manager of Alternative Energy at OQ said that GEO is at the vanguard of mega-scale green fuels projects

  • Dubai Financial Services Authority inks MoU with Central Bank of Mauritius

    The MoU places an emphasis on technologies pertinent to financial services, regulation and supervision.

    The MoU places an emphasis on technologies pertinent to financial services, regulation and supervision

    The two authorities will foster open dialogue on operational and technology risk supervision and anti-money laundering

  • ACI exports up 50% in Q1

    The growth was driven by medical supplies, dermatology, knitting sector.

    The United States, India, Saudi Arabia and Iraq imported JD940 million worth of ACI exports, which is more than half

    India came first with JD373 million imported in the first quarter of 2022 compared to JD157 million in the same period of 2021