Stock markets diverge before Nvidia results, Federal Reserve minutes
Stock markets diverged as traders awaited earnings from US tech darling Nvidia, in addition to minutes from the Federal Reserve...
Market Report
Business
Emirates to receive three A380 by November
The delivery will take the airlines' total fleet of A380s to 188 units.
- Airline to also reinstate A380 flights on key destinations worldwide in October
- The deliveries will bring the carrier’s total fleet of A380s to 188 units in November, when the last double-decker is scheduled to arriveÂ
Business
UAE forms new law to punish erring ministers and officials
Any minister or senior official found guilty of corruption could be relieved of their job.
- People can submit complaints directly to the public prosecution
- Those accused may see their travel permits revoked, and even assets frozen
Business
Price tag on the planet? Helping business value nature
Putting a monetary value on nature means that damaging resources such as breathable air and drinkable water becomes not just...
- Experts are divided on how to measure "natural capital", and some argue that it should not be done at all.
- As the IUCN World Conservation Congress kicks off in France on Friday, conservation of nature will remain an urgent question.
Business
Meat grown in lab to be on menu in MENA
An American startup Eat Just has tied up with Doha Venture Capital (DVC) and Qatar Free Zones Authority (QFZ) to...
- Facility to produce lab-grown meat without slaughtering livestock
- The large-scale plant, to be built in Qatar’s Umm Alhoul Free Zone, will house Eat Just’s cultured meat division, GOOD Meat
Stella Stays eyes $12bn Bahrain push
This is part of its expansion plans in the Middle East region.
- Stella Stays operates a portfolio of managed properties in the UAE, Bahrain and Canada
- The startup, launched in late 2019, has grown to manage nearly 300 properties as of August
Business
Israel mission in Dubai eyes Gulf oil deal
Environmentalists had voiced anger over the plan to ship Emirati crude to Israel's Red Sea port of Eilat.
- Ilan Sztulman Starosta, who heads Israel’s first consulate in Dubai, expects the trade between the two countries to surpass $1 billion within a year.
- About 200,000 Israelis have visited the UAE since the establishment of ties.
Business
Ooredoo’s B2B app makes business solutions easier
Free to all Ooredoo business offers customers with around the clock access and two secured log-in access levels.
- Free to all Ooredoo business offers customers with around the clock access and two secured log-in access levels
- Employees can view their own accounts, pay personal bills, top-up credit and add roaming services
Business
Consortium awarded exploration rights for Abu Dhabi’s Block 5
ABU DHABI: The Abu Dhabi National Oil Company (ADNOC) on Tuesday awarded exploration rights for Abu Dhabi’s Offshore Block 5...
- The consortium will hold a 100 percent stake in the exploration phase.
- ADNOC has the option to hold 60 percent stake in production phase of the concession.
Economy
Sports sector adds $1bn to Dubai economy each year
The growth in the sector is a result of the Dubai community’s increasing interest to participate in sports activities over...
- Around 1.5 million people regularly engage in sports and physical activities in the emirate, acccording to the Dubai Sports Council
- This has led to an increase in the number of national and international sporting events being hosted in Dubai
Business
HSBC offering Saudi’s first climate-focused investment fund
DUBAI: HSBC Saudi Arabia has said it is offering the first environmental initiative investment fund in the kingdom, which will...
- The fund will provide customers participation and direct access to investments that help reduce the impact of climate change.
- SABB’s Corporate & Private Banking clients among suitable clients in the kingdom.
Company News
Latest News
Saudi club Al-Ahli signs Manchester City player Riyad Mahrez
London, United Kingdom - Manchester City forward Riyad Mahrez has left the treble winners to join Saudi side Al-Ahli, the two...
Arts & Culture
Dubai records $2.88 billion in weeklong real estate transactions
Dubai, UAE -- A total of 3,252 real estate transactions worth over AED 10.6 billion ($2.88 billion) were conducted during...
Business
Most Read
Business
Italy’s Eni Q2 profits down
Adjusted net profit also fell down 49 percent in the second quarter.
- Like its competitors, Eni benefited last year from the spike in gas and oil prices, fuelled by the economic recovery after the pandemic and Russia's invasion of Ukraine.
- Eni posted a record net profit of 13.8 billion euros in 2022, its best result in more than two decades.
Business
Tabreed H1 23 net profit $105m
New customers and projects were added in H1 2023.
- In the first half of the year, Tabreed's revenue increased by 9.4 percent YoY to US$290 million, from US$265 million in H1 2022.
- Earlier this month, Tabreed started operating the cooling infrastructure, officially commencing its first operations in India.
Business
SAB H1 profit up 59%
The bank's profit in Q2 increased by 43% compared to Q2 2022.
- SAB’s net profit dropped by 12.2 percent from SAR 1.76 billion in Q1 2023.Â
- H1 profit rise was mainly due to an increase in net special commission income, income from FVSI financial instruments.