British Airways profit soars six-fold
The company said it was 92% booked for the first quarter of 2024.
QDB signs MoU with Global Ventures
The collaboration is expected to boost private sector in Qatar.
Business
Business
Volvo Cars sets IPO price
The price is at the bottom end of the range that Volvo announced last week
- The price is at the bottom end of the range that Volvo announced last week
- The carmaker also lowered the amount it plans to raise by going public from $2.9 billion to $2.3 billion
Business
Saudi telecom firm Zain reports 36% dip in net profit
Zain KSA, the Saudi telecom firm, has reported a 36 percent drop in net profit to SR143 million in the...
- The significant dip is due to a 1 percent drop in revenue, as well as rising revenue costs by 19 percent
- Lowering operating expenses and the results of the capital restructuring last year helped compensate for the fall
Business
Alsulaiman Group and Livspace announce a Joint Venture
Both ASG and Livspace have invested about $50 million to fuel regional growth and become market leaders.
- Both ASG and Livspace have invested about $50 million to fuel regional growth and become market leaders
- The JV further plans on strengthening the team by investing in talent across levels while also aiming to reach 500 design partners in the region by 2022
Economy
Bahraini Farmers Market returns with Covid-19 precautions
The market, which reportedly aims to promote Bahrain’s agricultural products and highlight the development taking place in the country’s agricultural...
- This edition of the market will be limited to shops selling local agricultural produce
- It will also feature a number of restaurants without the accompanying recreational activities
Arts & Culture
2,700-year-old wine press found in Iraq
The carvings - 12 panels measuring five metres (16 feet) wide and two metres tall - date from the reigns...
- The carvings -- 12 panels measuring five metres (16 feet) wide and two metres tall -- date from the reigns of Sargon II (721-705 BC) and his son Sennacherib
- Iraq was the cradle of some world's earliest cities. It was once home to Sumerians, Assyrians and Babylonians
Business
India’s SGL opens plant in HFZA
The plant involves an initial investment of AED 50mn.
- Automotive, industrial and construction lubricants and special greases for electric vehicles will be produced at the plant.
- Named Trinity Lubes & Greases FZC, the facility has a production capacity of 48,000 liters annually in the initial stage.
Business
QLM’s net profit in Q3 $20.4 million
Gross written premium as of Sept. 30 was QAR 750 million.
- The gap in gross written premium continues to narrow down as compared to previous quarters, the company said.
- The net investment income by September was QAR 29.2 million, compared with QAR 30.3 million for the same period in 2020.
Business
560 foreign firms operate in Al Wusta governorate of Oman: Official
As many as 560 foreign companies are operating in the Omani governorate of Al Wusta and their capital investments by...
- By the end of Sept. 2021, the capital investment of these firms reached $3.37 billion.
- The number of industrial licenses registered in Al Wusta during the first nine months of 2021 was 177.
Science
China aims to cut fossil energy use to below 20% by 2060
China is targeting an ambitious clean energy goal of reducing fossil fuel use to under 20 percent by 2060, according...
- The document follows a pledge by President Xi Jinping to wean the world's biggest polluter off coal
- But the country has been criticized for pushing ahead with opening dozens of new coal power plants
Videos
The largest Arab container ports in the world
There are about 186 major maritime container ports worldwide. Do you know the names of the biggest container ports in...
- Trade between nations has always made a significant contribution in terms of increasing wealth among the world population.
- Today, more than 80 percent of all trade is seaborne and maritime ports are playing significant for commercial and navigational purposes
British Airways profit soars six-fold
The company said it was 92% booked for the first quarter of 2024.
Company News
Latest News
BT to axe 55,000 employees
Business
Saudi Arabia’s NDMC issues local sukuk worth US$9.57 billion
Riyadh, Saudi Arabia--The Saudi National Debt Management Center (NDMC) has issued new sukuk worth $9.57 billion under the Local Saudi...
Business
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Business
Use of technology, innovation crucial in daily life
"Multi-carrier aggregation is a proven method to enhance both the peak and average throughputs of wireless networks. This deployment underscores...
- du introduces multi-carrier aggregation, promising three times faster data speeds
- Home wireless services, introduced by du in 2021, set to benefit from this innovation
Business
UAE ranks first globally in employing Indians, Saudi second: Minister
New Delhi, India -- The UAE ranks first among the countries in the world in the employment of Indians, currently...
- Taken together, five Gulf countries -- UAE, Saudi Arabia, Kuwait, Qatar and Oman, in that order -- are among the top destinations providing employment for Indians.
- The number of Indians in the UAE last year was 3.419 million and more than 134,000 were added in one year, India's Minister of External Affairs told parliament.
Business
Ma’aden Q2 revenues hit $1.86bn
Record phosphate output boosts the company's performance.
- The firm's net profit records US$93.5 million, reflecting the downturn in commodity prices
- Debt reduction witnessed with long-term borrowings and net debt decreasing by 11% and 9%