Dubai diamond trade hits record $41.7 billion in 2025, DMCC says
Dubai, UAE -- Dubai's diamond trade rose to a record $41.7 billion in 2025, surpassing its previous high set in...
Business
Business
Commerzbank net profit $2.4bn
This is the bank's biggest net profit in 15 years.
- The lender said it had "benefited from strong customer business and persistently high interest rates".
- Like other European lenders, Commerzbank was boosted by the European Central Bank's unprecedented streak of rate hikes last year, aimed at taming red-hot inflation
Business
ATO partners with ISM to boost tourism in the Middle East
Jeddah, UAE--The Arab Tourism Organization (ATO) has signed a partnership agreement with the International Strategic Management (ISM) company to achieve...
- The ISM will collaborate with the ATO to achieve its goals, harmonizing them with the Arab League's Sustainable Development Plan
- The partnership between the ATO and ISM will enable the Arab countries to develop tourist destinations to achieve sustainable development
US allies warn Israel against ‘catastrophic’ Rafah operation
The leaders of Australia, Canada and New Zealand on Thursday warned Israel against a potentially "catastrophic" ground offensive in the...
- In the face of mounting international pressure and a death toll that Gaza authorities say has now topped 28,000, Netanyahu has vowed to press ahead
- Netanyahu has promised Israeli forces will soon conduct a "powerful" operation in Rafah -- a city filled with countless Gazans displaced by fighting elsewhere in the territory
Business
Airbus profit drops 11 percent
The group plans to deliver "around 800" aircraft in 2024.
- The group said it had received orders for 2,094 aircraft in 2023, beating a previous record dating back to 2013
- Group revenues increased by 11 percent to 65.4 billion euros, with commercial aircraft revenues increasing 15 percent
Business
WSG has ushered in a new decade of positive impact: Hamid Al Zaabi
Dubai, UAE-- The World Governments Summit (WGS) has ushered in a new decade of positive impact, inspiring governments and societies...
- Al Zaabi said digital transformation has become a reality and threats from the transition affect the economic and social security of countries
- He said the anti-money laundering office has enhanced the fight against financial crimes and protects the nation's economic security
Business
ADNOC L&S profit spikes 138%
Its revenue jumped 41% to US$748 million in 2023.
- The company reported 93% hike in EBITDA to $876 million (AED3,217 million) as all business segments continued to perform strongly
- Its board of directors recommended distributing a cash dividend of $130m, equivalent to 6.45 fils per share, for the second half of 2023
Business
Cisco to cut thousands of jobs
Nearly 5% of its workforce will be hit by the cuts.
- According to several experts, job cuts can become a new trend for Silicon Valley in a big pivot to artificial intelligence
- It posted a revenue of $12.8bn in the quarter ending in late January, down 6% from the same quarter a year earlier
Opinion
Strengthen emotional security to thwart cyberattacks
While love, loneliness, and excitement are easily exploitable emotions, any factor impacting someone’s emotional state can make them a target....
- Social engineering exploits individual vulnerabilities, using human nature to gain the unauthorized access.
- Heightened emotions, such as those around Valentine’s Day, can make individuals more susceptible to cyberattacks.
Business
Global LNG demand to rise more than 50 percent by 2040: Shell
"Demand for natural gas has already peaked in some regions but continues to rise globally, with LNG demand expected to...
- Steve Hill, executive vice president for Shell Energy, said China was likely to dominate LNG demand growth in the current decade
- Industry and many governments argue that LNG is a "bridge fuel" between coal and renewables such as wind and solar
Economy
UAE economy posts best growth rates in comparison to others: IMF official
Dubai, UAE-- The UAE's economy has recorded the best growth rates in comparison to other economies in the region, according...
- The IMF official said the country's non-oil sector has significantly contributed to the country's economic resilience
- He said the UAE's diversification strategy has played a vital role in boosting the efficiency of the private sector
Company News
Latest News
‘Hell is Us’ looks to break mould of big-budget gaming
Paris, France - Developer Jonathan Jacques-Belletete has taken a gamble on forthcoming game "Hell is Us", hoping to ape the...
Business
Boeing in talks to sell up to 500 planes to China: Bloomberg
New York, United States -- US aviation giant Boeing is in talks to sell up to 500 aircraft to Chinese...
Business
Google packs new Pixel phones with Artificial Intelligence
New York, United States -- Google on Wednesday unveiled new Pixel 10 smartphones, showcasing artificial intelligence (AI) capabilities woven into...
Business
Most Read
Business
Google and Australia’s national newswire strike AI deal
Sydney, Australia - Australia's national newswire has agreed to provide content to Google's Gemini artificial intelligence to improve its responses,...
- The deal would help deliver real-time information to "enhance" responses in the Gemini app, said Nic Hopkins, Google's head of news partnerships for Australia and New Zealand
- Australian Associated Press, which was established 90 years ago, said its journalism would ensure timeliness and accuracy in the information Google's products provide
Business
Big-ticket events boost international tourism and economic growth
Dubai, UAE --  ‘Big-ticket’ events are playing a pivotal role in driving international tourism and accelerating economic growth, according to...
- In the GCC alone, the event and exhibition market is expected to reach US$827 million by 2029.
- Global business travel reached a record US$1.4 trillion in 2024 and is projected to rise to US$2 trillion by 2030.
Business
Dubai International Chamber attracts 31 MNCs to Dubai in H1
Dubai, UAE -- Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has announced...
- It attracted 143 companies to Dubai during H1 2025, representing a 138 percent increase compared to the 60 companies attracted in H1 2024.
- A total of 112 small and medium-sized enterprises (SMEs) were attracted during H1 2025.