The luxury giant posted a profit of US$4.6bn in 2023.
Total assets grew 25% in 2023 on strong growth in loans, advances.
Egypt's Suez Canal Authority said the key waterway netted record revenues last year, despite the coronavirus pandemic and a six-day...Connecting the Red Sea and the Mediterranean, the canal accounts for roughly 10 percent of global maritime trade and is a source of much-needed foreign currency for Egypt.
The number of ships using the canal rose from 18,830 in 2020 to 20,694 in 2021, or more than 56 ships per day.
Sheikh Mohammed bin Rashid Al Maktoum said the budget supports the Dubai Strategic Plan 2030 and places Dubai at the...The budget features an expenditure of AED181 billion, with around AED60 billion expenditures and AED57.55 billion in expected revenues for 2022.
Economy, transportation and infrastructure account for 42 percent of the expected expenditure, followed by social development (30 percent).
Bader Hareb resigned with effect from December 30 for ‘personal reasons.’The resignation was announced in a letter addressed to DFM Chief Executive Officer Hamed Ahmed Ali
The letter did not give any detail of a successor to Hareb, or an interim appointment till one was named
The gas transmission pipeline of platform 16 of South Pars gas field started leaking on the seabed.Gas leaking from the platform caught fire after a lightning strike
The platform is now 'not operational' and repairs were underway
As the year drew to a close, the emergence of the Omicron variant pushed the number of daily new Covid-19...As the pandemic enters its third year, it still dominates life around the globe
Seoul to San Francisco, new year celebrations were canceled or curtailed
The Gulf financial markets ended 2021 on the rise, waiting to achieve significant gains next year.Rising oil prices and fewer concerns about the impact of the Omicron variant pushed the Saudi stock index up 0.7% this week
The Dubai index had a solid week supported by the rise of the shares of Emaar and several banks
Bloomberg's Auction System is a part of Bloomberg's enterprise solution for central banks and government financial agencies.The Saudi central bank has announced that it will use Bloomberg's Auction System from January
It will use the system to conduct repo, reverse repo, and Open Market Operations with locally operating banks
The hike is due to pandemic-fueled supply-chain snarls.Ikea faced higher operating costs in North America and Europe
It is now passing on that cost burden to its customers
AD Ports Group signed several partnerships to accelerate trade and the development of industry in the UAE and beyond, including...AD Ports Group closed 2021 with the signing of a number of strategic agreements with the Aqaba Development Corporation
The Group received global interest in its issuance of a US$1 billion bond and subsequent listing on the ADX and the LSE
- Renewable energy company Masdar will be developing Georgia's largest solar power plant, with a capacity of 100 megawatts (MW), jointly...
The 100-megawatt plant will be built jointly with Georgian Energy Development Fund (GEDF).
GEDF is a joint-stock company, founded by the Ministry of Economy and Sustainable Development, and wholly state-owned. Georgia.
