Real estate transactions worth over US$74m take place in Qatar in week
DOHA, QATAR - The volume of real estate trading in the country in sales contracts at the Department of Real...
Business
Saudi Arabia, China sign MoU to develop air transport cooperation
Beijing, China - Saudi Arabia and China on Thursday signed a memorandum of understanding (MoU) to develop air transport cooperation. The...
Business
Business
First commercial flight lands in Kabul after Taliban takeover
An international commercial flight touched down in the Afghan capital on Monday, the first since the Taliban retook power last...
- ‘There was hardly anyone on the plane, around 10 people... maybe more staff than passengers’
- Qatar Airways operated several charter flights out of Kabul last week
Business
Saudi mega power plant still seeking takers
The Ras Al Khair plant produces 1.05 million cu m of desalinated water per day and generates 2.65 GW of...
- Saudi Arabia was planning to sell 60 percent stake in the Ras Al Khair plant and raise $2 billion
- However, bidders backed out after considering several factors, including the plant’s age and its waning technology
Business
Adnoc Drilling sets IPO share price
The initial price is set at AED2.30 (around $0.63) per share.
- The subscription period for the Adnoc Drilling IPO will close on September 23 for UAE retail investors
- It will close on September 26 for qualified domestic and international institutional investors
Business
What’s the impact of the Apple app store court ruling?
Apple was forced to loosen the grip it holds on its App Store payment system. The tech giant requires developers...
- Apple takes a commission of up to 30 percent of app purchases or transactions.
- It maintains that 85 percent of the approximately 1.8 million apps at the digital shop pay nothing to the company.
Analysis
GCC insurance firms battle pandemic woes
It has been a roller coaster ride for insurance companies in the GCC countries and the health care sector since...
- Experts see up to 40 percent rise in premiums in the next two to three years.
- Abu Dhabi-based Daman Insurance looking at new markets such as Kuwait and Bahrain.
Business
DFM to unveil new equity futures contracts
In order to diversify investment opportunities, the Dubai Financial Market (DFM) will roll out new equity futures contracts on individual...
- Investors can trade DFM equity futures through eight brokerage firms
- DFM sees growing investor interest in equity futures
Business
Saudi Sidra Capital buys UK office for $26m
Sidra Capital, the Saudi Arabia-based investment firm, has bought an office building in the United Kingdom for $26 million.
- The Countryside House HQ in Brentwood is a Grade A commercial property that has been fully let to Countryside PLC, an FTSE 250 company
- Property undergoing $11m refurbishment
Business
Shuaa Capital CEO now owns 30 percent of the firm
The CEO of the UAE-based Shuaa Capital has bought 57, 966, 523 shares in the financial firm, taking his personal...
- Shares were sold by Shine Investments in Commercial Projects
- In 2019, Shuaa Capital, which has $14 billion in assets under management, merged with Abu Dhabi Financial Group (ADFG) in 2019
Business
UAE investors behind Bahrain’s $492m tourism investment
Investments from UAE-based property developers helped Bahrain’s tourism sector remain buoyant during the pandemic.
- Capital investment into MEA last year decreased 82 percent from 2019, dropping to $1.6 billion.
- Bahrain ranked first in MENA for the number of tourism jobs created in 2020 and second for the number of tourism FDI projects.
Business
Air Arabia resumes flights to Saudi Arabia
Flights between Sharjah and Riyadh, Jeddah and Dammam to start from Sep 14
- Customers can now book their direct flights between Sharjah and Riyadh, Jeddah and Dammam by visiting Air Arabia's website
- All passengers traveling to the kingdom are required to download "Tawakkalna" mobile app
Real estate transactions worth over US$74m take place in Qatar in week
DOHA, QATAR - The volume of real estate trading in the country in sales contracts at the Department of Real...
Business
Company News
Latest News
Airbus Q1 net profit at $514m
Business
EITC posts Q1 revenue at $936m
Business
HSBC reports bumper profits
Revenue jumped $12.3 billion to $36.9 billion.
Toyota posts bumper Q1 net profit
The automaker's profit surged 78 percent to US$9.1 billion.
BP profit plunges to $1.8bn
Despite the drop, BP hiked dividend.
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Economy
Musk caves in to furore, removes giant, flashing X sign
The X, installed on the roof of the company's downtown office last week, was part of owner Elon Musk's bid...
- San Francisco's Department of Building Inspection and City Planning received 24 complaints about the sign
- The owner of the property where X is renting offices will have to pay the cost of permits to install and remove the sign
Business
Inma Holding profit tumbles
Its net profit fell 53.8% in H1 of 2023 to US$0.92m.
- Its earnings per share(EPS) declined to reach QR 0.059 as of 30th June 2023 versus EPS QR 0.128 for the same period in 2023
- The company posted a 61.7% jump in net profit in 2022, reaching $2.69 million in comparison to a net profit of $1.67 million
Business
Thriving businesses elevate UAE’s position globally
The country ascends four spots in Kearney's 2023 Global Services Location Index, reflecting its thriving business environment and emergence as...
- The Gulf country ascends four spots in Kearney's 2023 Global Services Location Index, reflecting its thriving business environment and emergence as a tech hub with 4,000+ startups
- Jordan, Saudi Arabia, Qatar, Kuwait, Oman, and Lebanon debut on the Kearney's 2023 GSLI, while Egypt's ranking has dropped due to rising labor costs and digital focus deficit