Oil prices rise after US, UK strike Houthi rebels
Oil prices surged four percent after US and UK forces launched strikes against Iran-backed Houthi rebels after attacks on ships...Business Economy Energy Geostrategy
Emirates to launch daily Dubai-Tel Aviv flights from Dec.6
Emirates is to start daily flights between Dubai and Tel Aviv on December 6, the airline announced, in the latest...Abu Dhabi-based airline Etihad and Israeli carrier Arkia now also offer regular flights.
Emirates said the new service would also link Israel seamlessly with its global route network.
Finfluencers turn to TikTok to peddle investment advice
Across the globe, investment gurus in their 20s are building huge followings on social media.Fintok and Stocktok finfluencers have made their influence on TikTok
Reels and videos made on stocks and finance education getting viral on this world of entertainment
Toyota lifts annual profit forecast despite production cuts
The world's top-selling automaker has recovered quicker than its competitors from some of the impact from Covid.The world's top-selling automaker has recovered quicker than its competitors from some of the impact from Covid
The global shortage of microchips -- essential components of modern cars -- has forced many automakers to slow or temporarily halt production
Egypt’s Breadfast to expand to Middle East, gets $26M backing
The investors include lead investors Vostok New Ventures and Endure Capital and participating investors JAM Fund (led by Tinder co-founder...The investment is coming two years after Breadfast raised a $2 million
In total, the company has secured more than $30 million
Dubai’s Wednesday realty transactions worth AED1.1 bn
The sales covered 314 villas and apartments worth AED645.92 million, and 29 land plots worth AED216.81 million.The sales covered 314 villas and apartments worth AED645.92 million, and 29 land plots worth AED216.81 million
The mortgages included 52 villas and apartments worth AED123.74 million and 10 land plots valued at AED45.14 million
Nayifat sets IPO offer price
The IPO kicks off on November 7 and ends on November 8.The listing would result in a market capitalization of SAR 3,400 million (USD 907 million)
The book-building process generated an order book of SAR 162 billion that was 136x oversubscribed
UAE provides $10m in aid to Turkey
The United Arab Emirates has announced the provision of $10 million to contribute to the reconstruction of some Turkish regions...the UAE expressed its solidarity with the Turkish people in these exceptional circumstances
The move follows the directives of Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi
Herfy Foods appoints new CEO
Saudi Arabia’s Herfy Food Services Company (Herfy Foods) has appointed Sam Bader as CEO, after he served as acting CEO.“The board of directors of Herfy Food Services Co extends its appreciate and gratitude for the efforts made by Mr Sam Bader during his term of acting CEO"
The company said Bader had started his career with BK USA, then worked for McDonald’s International USA
DCT Abu Dhabi, Hub71 partner to advance tourism, culture through startups
Hub71, Abu Dhabi’s global tech ecosystem, and the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) will...DCT Abu Dhabi will fund the Proof Of Concepts (POCs) of the startups identified for future work.
Hub71 will provide DCT Abu Dhabi with access to a broad pipeline of startups, regionally and globally.
Al Seer Marine net profit $666m
The net profit for the first nine months of 2020 was AED 25.40m.The increase in net profit was driven by a rise in income from investments and recent acquisitions.
The company has acquired Very Large Gas Carriers for transport of LPG through its partnership with BGN International.
