Infosys lowers revenue forecasts
Its net profit fell 7.29% Y-o-Y in the three months to December.Company News Business
Borouge signs supply agreement
The two-year agreement is worth AED 160 million ($43.56 million).Company News Business
Saudi Arabia stares at another round of inflation
The country’s inflation in the last quarter of this year, however, will be relatively stable, SAMA has pointed out. As...Saudi Central Bank cites jumps in global inflation levels and a strengthening of domestic demand as contributors to the rise in consumer prices
On a quarterly basis, however, the country’s inflation in this year’s last quarter will be relatively stable, says SAMA
ADNOC to invest $6 billion more in drilling to ramp up production
Abu Dhabi's national oil company announced Tuesday a $6 billion investment in crude oil drilling as it ramps up production...The investment would "enable drilling growth as it boosts its crude oil production capacity to 5 million barrels per day by 2030", ADNOC said.
The UAE is one of the world's top crude exporters, with an average of 4.2 million barrels per day.
Emirates expects to return to profit in ‘next 18 months’ as losses drop by half
Aviation giant Emirates expects to return to profitability "in the next 18 months" as the sector bounces back from the...The Dubai-based carrier said last week it was on the path to recovery as six-month losses dropped by more than half from a year earlier.
Emirates posted an April-September loss of $1.6 billion, compared with $3.4 billion during the same period in 2020.
Investment Group signs share swap contract with Elegancia
Investment Holding Group Q.P.S.C. has signed a share swap contract with the sellers of the shares of Elegancia Group LLC...The contract, however, will not result in any legal effect until after obtaining the approval of the Qatar Financial Markets Authority
The company will follow and implement all laws and instructions issued by the Qatar Financial Markets Authority
GCC countries warm up to cloud kitchens
Mubarak Jaffar, CEO of the cloud-kitchen firm KLC company, tells TRENDS how virtual kitchens are feeding a growing demand.A virtual or cloud kitchen simply hosts virtual brands that don’t have a store
The kitchen itself doesn’t provide dining services — only delivery — and in some cases takeaway
New service to help start business in Saudi Arabia in three steps
For new investors, the new service will require only three steps: visiting the Saudi Ministry of Foreign Affairs website and...Investors and companies wanting to do business in the Kingdom will benefit from the new reforms
The ministry said there will be a broad marketing campaign to ensure that foreign investors and companies can benefit from the new service
Every second, Pfizer, BioNTech, Moderna make $1k profit
The trio is estimated to make pre-tax profits of $34 billion this year: over $1,000 a second, $65,000 a minute,...Pfizer and BioNTech are estimated to have delivered less than 1 percent of their total supplies to low-income countries
Moderna has delivered just 0.2 percent, according to an analysis
Pakistani Basmati export to KSA, UAE suffers setback
Briefing a National Assembly panel, Commerce Ministry’s Director-General Dr. Syed Kausar Zaidi said that Saudi Arabia imports 80 percent of...Briefing a National Assembly panel, Commerce Ministry’s Director-General Dr. Syed Kausar Zaidi said that Saudi Arabia imports 80 percent of its rice from India
He; however, expressed the hope that the outcome of Prime Minister Imran Khan’s recent visit to Saudi Arabia may have some positive impact on the export of rice
Dubai Airshow Day 2: UAE military inks $3bn deals
The deals were signed with one local company and four others from around the world.The total number of deals in these two days have been 10 contracts with a total value of AED16.52 billion ($4.5 billion)
The deals of the first day amounted to AED5.24 billion ($1.43 billion), including one with Airbus Defense
Saudi Airlines Group signs four pacts at Dubai Airshow 2021
One of the four agreements is with Inmarsat, the world leader in mobile satellite communications, and GDC Technics, a leader...By virtue of this agreement, Saudi Airlines Group will become the first entity in the Kingdom to use the GX Aviation network to provide communication services during flights
The Group signed an agreement with Panasonic Avionics, in a unique step towards providing the finest audio-visual content viewing experiences for its guests
