Shipping insurance rates soar on Red Sea missile attacks
Maritime container transport has sunk by almost one third so far in 2024 compared with a year earlier, according to...
Business
Rolls-Royce back into profit
The engine maker swung to profit of $3bn from a loss of $1.64bn in 2022.
Business
Business booms in Dubai, best in two years
Business activity has grown in Dubai at the fastest rate since September 2019, and is likely to improve further on...
- Expo 2020, further easing of COVID-19 restrictions to boost economic activity
- “We remain optimistic that private sector business conditions will improve further in Q4 2021 as Expo 2020 gets underway
Business
AD Ports plans new $154m terminal
The new terminal will be at the Khalifa Port in Abu Dhabi.
- The terminal will be managed by a joint venture where AD Ports Group will have a 30 percent stake
- CMA CGM’s subsidiary CMA Terminals will have a 70 percent stake in the JV
Science
Saudi institute invests $500,000 to research farming in space
The equity investment was reportedly a part of Interstellar Lab's latest $3-million seed round.
- The non-profit FII Institute has made the investment in the French firm Interstellar Lab
- The Paris-based firm designs closed-loop bio domes for sustaining life on Earth, the moon, and Mars
Business
Iran mulls preferential trade agreement with Lebanon
The director-general of the Iranian Trade Promotion Organization’s Office of Arabian and African Countries has said Iran is in talks...
- Lebanon is currently suffering under one of the world’s worst economic crises since the mid-1800s
- The situation is such that senior economist Nasser Saidi has said hyperinflation is imminent in the country
Research
HNWIs drive up luxury car sales in Gulf region
Being home to most of the high net-worth individuals in the Middle East, Saudi Arabia, the UAE and Qatar are...
- Porsche Middle East and Africa’s successful implementation of new retail strategy helps in achieving the targets in Q1 2021.
- GCC governments are committed to increasing sustainability by reducing carbon emissions.
Investors to sue Boeing’s Board of Directors for 737 crashes
Boeing has already lost $20 billion in fines, lost orders, and other costs, due to these two crashes, both of...
- A Delaware judge observed that while those who died in the crashes were the primary victims, Boeing shareholders were secondary victims
- She has allowed the Board of Directors to be prosecuted on charges that they did not make good-faith decisions about the safety of the aircraft
Business
Iker Casillas to launch goalkeeper training center in Dubai
Called the Iker Casillas Goalkeeper Training Center, this will be the first such facility by the Real Madrid goalkeeper outside...
- The center is to be established in partnership with Dubai’s Fursan Hispania FC
- It will be helmed by former Spain international footballer Michel Salgado
Business
Japanese-French consortium to operate Dubai Metro now
The change in operators coincided with the 12th anniversary of Dubai Metro, which started operation on September 9, 2009.
- The operation and maintenance contract of Dubai Metro and Tram with Keolis-MHI LLC spans 15 years
- Of these, nine are base years, and six years are renewable every two years
Business
Bitcoin may touch $100,000 in Q1 of 2022
Standard Chartered has forecast that Bitcoin will touch the magical figure of $100,000 in the first quarter of 2022, and...
- On Wednesday, Bitcoin was trading at a little more than $46,000
- Ethereum and Binance Coin were trading at $3,413 and $409, respectively
Business
Eltizam Group buys Inspire Integrated for $10m
Continuing with its expansion strategy, Eltizam Asset Management Group, a subsidiary of the Abu-Dhabi based International Holding Company, acquired Inspire...
- Acquisition part of ltizam Asset Management's expansion strategy
- Inspire Integrated, which will continue to operate under the same name, specializes in infrastructure and real estate solutions
Shipping insurance rates soar on Red Sea missile attacks
Maritime container transport has sunk by almost one third so far in 2024 compared with a year earlier, according to...
Business
Company News
Pfizer Q1 profit at $5.5bn
Business
Latest News
French footballer Maximin to play for Al-Ahli after three-year deal
Paris, France - French winger Allan Saint-Maximin on Sunday signed a three-year deal with Saudi Arabia's Al-Ahli after leaving English club...
Arts & Culture
UAE oil giant ADNOC pledges to ‘accelerate’ zero-carbon plan
ADNOC "is accelerating its decarbonization plan to advance its net-zero ambition to 2045, compared to its previous target of 2050,"...
Geostrategy
Aldar expands into Dubai, Bahrain
The company announces $95 million investment for expansion.
Business
Most Read
Business
PIF-owned SEVEN starts construction of $346m Almadinah project
Riyadh, Saudi Arabia – Saudi Entertainment Ventures (SEVEN), a wholly owned subsidiary of the Kingdom's sovereign wealth fund, the Public...
- The $346-million project, which is expected to be completed in 2025, is being developed by BUJV, a joint venture by AL BAWANI CO. LTD. and UrbaCon Trading & Contracting.
- SEVEN is investing more than SAR 50 billion to build 21 entertainment destinations which will provide unique and innovative world-class entertainment experiences.
Business
QGIRC net profit down
The first half 2023 profit of $9.64m was 25% less than that of H1 2022.
- Earnings per share (EPS) amounted to QR 0.040 as of 30th June 2023 versus Earnings per share (EPS) QR 0.054 for the same period in 2022.
- QGIRC has a network of branches located across Qatar and an overseas branch in the United Arab Emirates.
Economy
In Asia expansion push, Masdar to develop 2GW clean energy in Malaysia
Abu Dhabi, UAE--Abu Dhabi Future Energy Company (Masdar) and Citaglobal Berhad have signed a memorandum of understanding (MoU) for developing...
- The two companies will join hands to build projects across the renewable energy mix in the picturesque Malaysian state of Pahang
- Masdar sees Southeast Asia as a key investment destination, where it has already built the region's biggest floating solar facility in Indonesia