Meta chief discusses AI risks with Japan PM during Asia tour
The 39-year-old mixed business with pleasure while in Japan, going skiing with his family and learning about sword-making from a...
Business
Iran becomes world’s ninth biggest steel producer, says WSA
TEHRAN, IRAN – The Middle Eastern country has improved its global standing in steel production, becoming the ninth largest producer...
Economy
Business
ADNOC Distribution opens two stations in Sharjah
The openings support the company’s commitment to delivering on its promise to provide greater fuel retailer convenience to customers and...
- The openings support the company’s commitment to delivering on its promise to provide greater fuel retailer convenience to customers and neighborhoods
- The fuel-only Al Talaa offers fast and efficient refueling for customers, while the Al Madean station provides the full fuel and retail offering with an onsite ADNOC Oasis store
Business
No fear of inflation becoming a ‘runaway train,’ says IMF chief
Global finance officials are worried about rising inflation pressures but there it is little fear that it will become a...
- However, in advanced economies “policymakers have the tools” to deal with inflation
- With supply chain bottlenecks growing in the face of surging demand, policymakers have focused attention on rising prices
Business
Response Plus Holding of UAE posts net profit of $10.9m
Response Plus Holding, the UAE healthcare investment and management firm, has posted a net profit of $10.9 million during the...
- Its revenue for the nine-month period climbed to 197.7 million dirhams from 2.1 million dirhams last year
- As a result of revenue growth and improved margins, gross profit reached 60.1 million dirhams
Business
Facebook ‘metaverse’ to become reality soon
The technology might, for example, allow someone to don virtual reality glasses that make it feel as if they're face-to-face...
- The technology might, for example, allow someone to don virtual reality glasses that make it feel as if they're face-to-face with a friend
- Metaverse enthusiasts point out that the internet is already starting to blur the lines between virtual experiences and "real" ones
Business
Oman and Lebanon explore new trade avenues
Businessmen and stakeholders from Oman and Lebanon have discussed investment and trade exchange.
- The discussions took place during the Omani-Lebanese Business Forum organized by the Oman Chamber of Commerce and Industry
- The forum was organized on the sidelines of an official visit by a Lebanese business delegation to Oman
Business
Saudi Arabia tops region’s maritime connectivity progress
Saudi Arabia has scored 70.68 on the Maritime Connectivity Index.
- The global index measures the level of interdependence of the world's ports with shipping line networks quarterly
- It aims to help countries identify challenges and find opportunities to develop and improve their performance in the field of logistics services
Business
Newcastle fans celebrate new era for the club under Saudi ownership
Hundreds of supporters sported traditional Saudi headdress and flew flags of the Gulf kingdom ahead of the Magpies' first match...
- Newcastle fans celebrated the departure of unpopular former owner Mike Ashley
- The fans are already dreaming big as they aim to follow in the footsteps of Manchester City
Business
Jordan, Saudi Arabia investors launch Fly Aqaba
The new airline, Fly Aqaba, was set up with $20 million in private sector investment, said Nayef Bakhit, president of...
- Flights will connect Aqaba to Amman as well as European and other Arab cities "at competitive prices"
- The Covid-19 pandemic has badly dented Jordan's tourism industry, which represented 14 percent of its GDP
Research
Robotics set to alter job markets in Gulf region
There will be ample job opportunities in artificial intelligence, robotics, automation, advanced manufacturing, virtual reality, augmented reality and big data...
- There will be ample job opportunities in artificial intelligence, robotics, automation, advanced manufacturing, virtual reality, augmented reality, and big data
- Administrative and secretarial jobs, data entry, accounting, accounting records management and payroll services will become extinct, says a World Economic Forum report
Business
Qatar Islamic Bank net profit jumps 14 percent to $692m
Qatar Islamic Bank has said that its net profit for the first nine months of 2021 has jumped 14 percent...
- The Islamic lender made impairment provisions of 1.19 billion riyals for the period ended 30 September 2021
- Total income for the period was 6.12 billion riyals compared with 5.96 billion riyals for the same period in 2020
Meta chief discusses AI risks with Japan PM during Asia tour
The 39-year-old mixed business with pleasure while in Japan, going skiing with his family and learning about sword-making from a...
Business
Company News
Latest News
Alcoa, EGA ink supply pact
Business
GFH Financial Group Q2 net profit $30m
The net profit increased by 32.74 percent compared to Q2, 2022.
Business
Luxury real estate boom in Ras Al Khaimah’s waterfront districts
Ras Al Khaimah, UAE - The existing and upcoming waterfront and island developments in Ras Al Khaimah have witnessed a...
Business
Most Read
Business
Huawei H1 revenue at US$43.3bn
The firm works to diversify its business operations.
- The Shenzhen-based company has for several years been at the center of an intense tech standoff between China and the US.
- Since 2019, sanctions have cut the company off from global supply chains that gave it access to US-made components and technologies.
Business
ADNIC net profit $55.64m
The company's insurance revenue reached $582 million.
- Its underwriting profitability was robust with a combined ratio of 87.60% and a net insurance service profit of AED178.1 million.
- Charalampos Mylonas, CEO of ADNIC, said the company was the first amongst our peers to implement IFRS 17 Insurance Contracts (IFRS 17) as of 1 Jan, 2023.
Business
Emaar reports 15% profit growth in H1 2023
The company achieved property sales of $5.5bn in the period.
- Recurring revenue records growth of 11% in H1 2023, supported by increased tenant sales and robust tourism recovery
- S&P, Moody's, and Fitch upgraded Emaar's Credit Ratings to BBB, Baa2 and BBB, respectively, with a stable outlook