China remains world’s largest logistics market in terms of demand
BEIJING, CHINA - The logistics sector in the country achieved steady recovery in 2023 and the country remains the world's...Business Economy
Healthcare industry globally faces data hacking threat
DUBAI, UAE - In an age where data is a cornerstone of modern healthcare, the industry faces an escalating threat...Business Global Health Tech & Media
Sharjah International Book Fair world’s largest publishing event in 2021
The Sharjah International Book Fair (SIBF) has emerged as the world’s largest book fair this year, attracting the participation of...The fair saw the participation of 546 publishers and literary agents from 83 countries.
In the run up to the fair, SIBF Publishing Conference serves as a platform for buying and selling rights and signing book deals.
Trade surges 69% to AED15.84bn between UAE and Italy in 2021
Trade between the United Arab Emirates (UAE) and Italy has surged 68.6 percent to AED15.84 billion in the first half...Imports too showed remarkable strength touching AED11.33 billion while exports hovered around AED3.65 billion
Direct trade amounted to AED12.954 billion, whereas free zone trade totaled AED2.839 billion
Air Arabia Q3 net profit $56 million
The airline said it served over 1.9 million passengers from its five hubs.The company’s turnover for the said quarter increased by 174 percent to AED804 billion, compared to AED294 million in the corresponding period last year.
During the first nine months of the year, Air Arabia added 43 new routes to its global network from its hubs in the UAE, Morocco, and Egypt.
ADX, Bahrain Bourse partner to unlock joint opportunities
The parties agreed on a strategic plan to implement new measures over the next nine months to strengthen ties between...As part of the agreement, ADX and BHB have agreed to introduce a number of products and services including Exchange Traded Funds (ETFs)
As part of ADX’s strategy for growth announced at the beginning of the year, the exchange is forging partnerships with global exchanges
TAQA nine-month net income $1.17 bn
The total revenue is 11 percent higher than the same period last year.TAQA’s Board of Directors announced an interim cash dividend of AED618 million ($168.25 million).
The EBITDA was AED14.4 billion ($3.92 billion), an increase of 20 percent from last year.
Apple loses bid to stall apps bypassing pay system in Epic Games case
A judge rejected Apple's request to delay letting App Store offerings bypass its payment system as ordered by the court...Epic filed the lawsuit to break Apple's grip on the App Store, accusing the iPhone maker of operating a monopoly in its shop for digital goods or services.
The judge reasoned that Apple's policies not allowing app developers to steer users to payment platforms outside the App Store as being a factor in the "antitrust conduct."
ACWA Power loss in Q3 $5.8 million
The company said losses due to IPO-related issues and payments.The company's profit in the same quarter a year ago was SR541 million.
The net profit of the first nine months of this year also went down by half to SR434 million.
Elon Musk loses $50 billion as Tesla shares fall for third day
Elon Musk, the CEO of Tesla lost $50 billion in two days as shares of Tesla fell for the third...According to Bloomberg Billionaires Index, this is the biggest two-day fall in its history.
his drop in net worth of Elon Musk reduces the gap between him and Jeff Bezos, the second richest man of the world to $83 billion.
ADNOC Drilling 9M revenue $1.7 bn
This was the company's first quarterly disclosure since listing on ADX.The Company reported an EBITDA of $785 million and a net profit of $460 million for nine months of 2021.
The onshore revenue for the nine months was $847 million, up 10 percent compared to the same period last year.
EDB, NBF agree to provide credit guarantee and co-lending for SMEs in UAE
The Emirates Development Bank (EDB) has signed an MoU with the National Bank of Fujairah (NBF) to offer credit guarantees...NBF will offer up to AED10 million financing to an SME, and 50 percent of the facility amount will be either guaranteed or co-lent by EDB.
The program also aims to support UAE citizens in the startup journey by offering financing facilities of up to AED1 million.
