Buraidah date carnival boosts Saudi tourism and economy
Buraidah, Saudi Arabia -- The Buraidah Date Carnival witnessed growing economic and tourism activity, making it a key destination for...Business
Turkish Airlines says offer to buy stake in Spain’s Air Europa accepted
Turkish Airlines on Tuesday said Air Europa had accepted its 300-million-euro ($350 million) offer to purchase a minority stake in...Business
CFOs at forefront of ESG integration in businesses
"The CFO's role as an ESG guardian and promoter varies significantly across organizations. CFOs with limited ESG experience should deepen...Integration of ESG into finance sectors highlights the evolving expectations from CFOs.
In-house research shows 89 percent of CFOs rate communication as the most vital skill.
Boeing expects Q1 hit from MAX troubles
The airline backs intensified oversight from the FAA.The company said it will support oversight from the Federal Aviation Administration after a near-catastrophic Alaska Airlines incident
The Federal Aviation Administration grounded more than 170 MAX 9 planes for about three weeks. after the Alaska Airlines emergency
UAE leads global charge in generative AI adoption
With 40 percent of UAE workers already exploring generative AI, the nation stands as a beacon of tech adoption, far...With 40 percent of UAE workers already exploring generative AI, the nation stands as a beacon of tech adoption, far surpassing the global average, say a report.
AI and machine learning are viewed by UAE tech leaders as pivotal for reaching short-term objectives, outpacing the perceived utility of the metaverse, it adds.
EU excuses Apple and Microsoft products from tougher tech curbs
Brussels, Belgium - Apple's iMessage and Microsoft's Bing search engine got a reprieve from tougher EU rules curbing how tech titans..."We thank the Commission for agreeing with us that iMessage should not be designated under the DMA (Digital Markets Act)," an Apple spokesperson said
The EU has built a powerful legal arsenal to take on the internet giants, including the DMA and its sister milestone law, the Digital Services Act (DSA)
Air Arabia 2023 net profit $408m
The firm recorded a 27 percent rise in profit compared to 2022.The company in its financial results said that the airline's turnover for 2023 reached US$1.6 billion
Air Arabia’s Board of Directors proposed a dividend distribution of 20 percent of share capital,
EU adopts fallow land exemption after farmer protests
Brussels, Belgium - The European Commission on Tuesday officially extended an exemption from contested rules to leave a share of agricultural...The EU acknowledged that a combination of geopolitics and extreme weather meant farmers were struggling to meet the fallow land rule
The fallow land rule was imposed as part of the bloc's common agricultural policy to promote biodiversity
Bitcoin crosses $50,000 for first time since 2021
The cryptocurrency has enjoyed a strong run-in recent month, fueled by expectations US lawmakers would allow the creation of exchange-traded...After dropping in reaction to last month's green light by Washington, bitcoin has rallied about 25%
That advance saw it hit as much as $50,328, according to Bloomberg data, its highest level since late 2021
Michelin posts record operating profits
Sales at the French firm dipped last year to US$30.5bn.Sales by volume dropped by 4.7 percent but Michelin said this reflected its strategy of prioritizing markets and business segments
Sales of premium and big tyres, in particular for SUVs, helped improve the company's performance, as did a drop in costs for raw materials
ADNOC Drilling profit soars 29%
The company's revenue for the year 2023 was US$3.05bn.The company's EBITDA for 2023 shot up 20 percent to US$1.483 billion with industry-leading EBITDA margin of 49 percent
It added 14 new drilling units in 2023, including four lease-to-own land rigs, making it one of the world’s largest fleets of 129 rigs
Al Mal Capital REIT to launch rights issue
The fund has an existing portfolio valued at US$158m.Its CEO said the issue is a step in their journey to generate consistent and sustainable value for investors
The fund has an existing portfolio valued at $158 million, primarily invested in educational assets in the UAE
