Michelin posts record operating profits
Sales at the French firm dipped last year to US$30.5bn.Business
UAE residents anticipate full electric and hybrid vehicle takeover in coming years: survey
Dubai, UAE - About 63% of respondents in the UAE plan to make EVs their primary mode of transport by...Business
Bahrain to offer permanent residency visa to attract talent
Bahrain has launched ‘Golden Residency Visa’ for residents and non-residents with immediate processing of the applications electronically upon meeting the...The move is a part of the Kingdom’s strategy to attract foreign investments where the visa holders will enjoy benefits
Bahrain’s ‘Golden Residency Visa’ will be available for qualifying residents, allowing them to take advantage of the benefits
Volume growth helps AD Ports Group post $230m net profit in 2021
The company posted a net profit of $230m in 2021, from $108m in 2020.As of 31st December 2021, the total assets of the Group stood at AED28.5 billion.
In January 2022, the Group received ownership stakes from ADQ in two listed companies--Aramex and National Marine Dredging Company.
BP profits $7.6bn in 2021
The company aims to cut emissions by 50 percent by 2030.BP posted a net profit of $7.6 billion (€6.7 billion) last year
This followed a loss after tax of $20.3 billion in 2020
SoftBank Arm sale scrapped
The company plans public offering of Arm by March 2023.The announcement came as the telecoms firm-turned-investment giant reported a net profit of 29.0 billion yen ($251 million) in the third quarter
And there have been challenges elsewhere for SoftBank, including losses on Chinese ride-hailing giant Didi Chuxing
The proverb-ial road to success
After all, what is considered traditional wisdom — and therefore infallible — has at times been known to run counter...Owners of today’s large enterprises are advised to resist the temptation to personally manage the daily affairs of businesses
Instead, they should hire the most talented professionals and delegate to them the authorities needed for that purpose
Lockheed Martin nets NASA deal
The company will make a rocket to bring back rocks from Mars.According to the US space agency's statement, Lockheed Martin has won a NASA contract to build the rocket which will bring the first Mars rock samples to Earth in the 2030s
NASA will launch a plan in 2026 to send the mini-rocket to Mars, carrying another rover responsible for collecting the rock samples
EU joins chips race with 42 bn euro bid to rival Asia
The production of semiconductors, also known as chips, has become a strategic priority in Europe as well as the United...The production of semiconductors, also known as chips, has become a strategic priority in Europe as well as the United States, after the pandemic choked off supply
The manufacturing of chips overwhelmingly takes place in Taiwan, China and South Korea and the European Union's 27 member states
Industries Qatar profit up 321%
The company achieved a net profit of QR 8.1 billion for 2021.Industries Qatar said in a statement that the Group revenue significantly improved by 77 percent to reach a record QR 20.2 billion
Earnings per share (EPS) amounted to QR 1.34 for the year, versus QR 0.32 for last year
‘Jail restaurant’ in Iran frees bad-debt inmates
Two Iranian ex-prisoners have opened a ‘jail restaurant’ to help raise funds to free convicts who are behind bars for...In Iran, bounced cheques, or failure to pay agreed dowries or bank loans results in jail time until the money is repaid
More than 11,000 Iranians are in jail for failing to repay debts: almost 5 percent of Iran's prison population
Wynn Resorts-RAK deal raises a few eyebrows
Legal experts weigh in on what lies ahead for the UAE when it comes to gaming entertainment in various forms.The announcement comes after rumors circulated about legalizing gambling clubs and permitting casinos in the UAE
Gambling is prohibited in Chapter VI of the UAE Federal Penal Code, with those found guilty facing imprisonment and hefty fines
