DAE net profit up 36.2%
Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.Company News Business
OPEC+ sticks to oil output plan after Trump’s price demand
In a bid to boost prices, the Organization of the Petroleum Exporting Countries (OPEC) headed by Saudi Arabia and Russian-led allies...Business Energy Geostrategy
Qatar real estate trading volume reaches US$91m between January 7-11
DOHA, QATAR - The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...Total sales contracts for residential units in the Real Estate Bulletin from January 7 to January 11 were US$15 million.
The volume of real estate trading in sales contracts from December 31, 2023 to January 4, 2024, exceeded US$222 million.
Tata Steel to slash 2,800 UK jobs
Tata Steel employs about 8,000 staff in the United Kingdom.The company confirmed the closure of two blast furnaces at the Port Talbot steelworks in Wales, according to a statement.
The Mumbai-based conglomerate had threatened to shut the plant unless it received state aid to help decarbonize production and cut emissions.
France flooded with applications for electric car leasing scheme
Paris, France - The French government has been flooded with applications from low-income households to lease a subsidized electric car from...Some 90,000 people have applied to the scheme since the start of the month, French Environment Minister Bechu said.
President Emmanuel Macron unveiled the plan on social media in December as part of efforts to reduce carbon emissions in France.
15 million tons of Lithium deposits found in Thailand
Bangkok, Thailand - Thailand has discovered nearly 15 million tons of lithium deposits, a government spokesman said Friday, a boost for...The 14.8 million tons of lithium are distributed between two separate sites in the southern province of Phang Nga, a government spokesperson said.
The find means Thailand has the third largest lithium resources, behind Bolivia and Argentina, but it is not yet clear how much can be exploited commercially.
In Davos, AI excitement persists but fears over managing risks
A recent IMF report said AI would affect nearly 40 percent of jobs around the world, and some 60 percent...Over the course of the week, more than 3,000 policy makers, business executives, academics and innovators discussed some of the world's most pressing issues at the annual meet.
The Forum announced it will hold a special meeting, hosted by Saudi Arabia, on “Global Cooperation, Growth and Energy for Development” on 28-29 Apr 2024 in Riyadh.
Sony to decide on Zee merger
The tie-up is aimed at helping both firms compete with streaming rivals.The merger was first agreed in 2021, with Zee chief executive Punit Goenka saying that the new outfit would be worth close to $10 billion with annual revenues approaching $2bn.
But closing the deal has been beset by problems, most recently because Sony reportedly does not want Goenka to run the combined entity.
Middle East only region to overcome pre-Covid tourism levels: UNWTO
"International tourism is expected to fully recover pre-pandemic levels in 2024, with initial estimates pointing to 2.0 percent growth above...Europe, the world's most visited region, also saw a strong performance with tourism reaching 94 percent of its 2019 figures, with African figures reaching 96 percent.
In relative terms, the Asia-Pacific region was the weakest with just 65 percent of pre-pandemic levels, despite China's lifting of health restrictions a year ago
Tesla’s Musk throws down the gauntlet
Amid declining sales and safety concerns, CEO covets more control, seeking solace in SpaceX's success.Tesla has lost over US$90 billion in market cap, a rough landing in 2024, and a continuation of a slide that could crash the EV maker’s stock value, data from Refinitiv revealed.
There is declining growth in EV production and a wider slowdown in the market that has Tesla investors nervous.
Dubai World Trade Centre to host Japan trade exhibition next week
Dubai, UAE--The first edition of the Japan Kyoto Trade Exhibition 2024 is all set to kick off this Monday, 22nd...The event is expected to attract around 20,000 visitors, and more than 100 Japanese exhibitors
The exhibitors will represent a diverse range of industrial sectors, like technology and animation
Middle East needs strong Saudi Arabia, says kingdom’s finance minister
Dubai, UAE-- Saudi Arabia's Finance Minister Mohammed Al-Jadaan said the Middle East needs a strong Saudi Arabia to contribute and...The World Economic Forum meeting in Saudi Arabia will address economic issues, international cooperation and global challenges
The kingdom's finance minister said the region requires a strong Saudi Arabia to contribute and that future outlook looks positive
