New wave: Sea power turned into energy at Los Angeles port
San Pedro, United States -- Floating blue paddles dance on the waves that lap a dock in the Port of Los...Technology Business Energy Science
Creators HQ attracts 2,415 active members from 147 countries
Dubai, UAE -- Dubai’s Creator HQ, the first headquarters for content creators in the UAE and the Middle East, has...Technology Business
Glencore 2023 profit down 75%
The company said lower energy prices cut into its profits.Gross operating profit fell 50 percent to $17.l billion, "primarily reflecting the rebalancing and normalization of international energy trade flows," it said
The commodities trading unit saw operating profit fall 46% to $3.5 billion, "with coal and LNG (liquefied natural gas), and to a lesser extent, oil prices materially declining"
Over 6,000 F&B companies join Dubai Chamber of Commerce in 2023
DUBAI, UAE – President and CEO of Dubai Chambers Mohammad Ali Rashed Lootah has revealed that 6,478 new Food and...The total number of F&B companies registered with Dubai Chamber of Commerce stood at 22,585 at the end of 2023.
Dubai Chamber of Commerce launched 11 business groups dedicated to the industry, eight of which were set up in 2023.
e& 2023 net profit is US$2.8bn
e& said the net profit is a growth of 3 percent year-over-year.Consolidated revenues reached US$14.6 billion which is a growth of 8.3 percent year-over-year.
Consolidated EBITDA rose by 3.7 percent year-over-year at constant exchange rates, to US$7.1 billion.
MENA print media revenues fell 30% from 2018 to 2022: survey
The report stresses the urgent need for MENA news organizations to overhaul business models, adopt digital strategies, and diversify content...The analysis also forecasts a compound annual growth rate (CAGR) of -4% up to 2027, which could cause total MENA revenues to fall even further to US$1.2 billion
The figures also show that while digital advertising revenues are slowly increasing at a rate of 1% per year, print advertising revenues are set to slump by 11.3% by 2027
HSBC posts record profit of US$30.3bn
The bank would initiate a share buyback of up to US$2 billion.HSBC reported pre-tax profits of $30.3 billion, up from $17.1 billion the year before, in a statement to the Hong Kong stock exchange
The bank said the profits included a "favorable year-on-year impact" of $2.5 billion due to the sale of its French retail banking operations
Dubai food and beverage sector stirs up with investment of US$577m
Dubai, UAE-- The food and beverage sector in Dubai has attracted new FDI worth $577 million from 2019 to 2023,...The sector in the UAE generated $16.4bn in retail sales, including fresh food and packaged food
Last year, consumers across the country spent some $1.1bn on food ordered on e-commerce platform
ADIB unveils new payment hub
It will help customers to seamlessly process transfers.The bank said customers can now seamlessly process transfers, providing a solution that transforms payment processing capabilities
Its chief digital officer, Fernando Plaza Lopez, said the bank is focused on driving digital-first solutions throughout the bank’s operations
Dubai to host the world’s biggest ‘airport industry show’ in May
Dubai, UAE-- In the month of May scores of airport developers, officials, and suppliers from around the world will troop...Some 150 exhibitors from more than 20 countries and 7,500 visitors from over 30 countries will take part in the event
The aviation market in the Middle East valued at US$60 billion in 2023 has seen a 26% growth in air connectivity in 2022
Saudi tech firm Alat to ally with Softbank, Carrier Corp, Tahakoum, Dahua Tech
Riyadh, Saudi Arabia - Alat Company, a subsidiary of the Saudi Public Investment Fund (PIF), has announced four global partnerships...Amit Midha, global CEO of Alat, said the goal is to aid partner companies in reducing emissions and transitioning towards carbon-neutral production
Midha emphasized Alat's commitment to leveraging clean energy sources such as solar, wind, and green hydrogen integrating sustainability measures across operations
Bank plays crucial role in funding sustainable future
"We continue to capitalize on the promising opportunities in this market through innovative offerings and solutions, while strengthening our substantial...ADIB launches a framework aimed at supporting environmental protection and social justice projects.
The Abu Dhabi-based bank is first global financial institution to issue US dollar-denominated green sukuk.
