Asian markets rally after Wall Street highs, oil prices slide
"The weakness of yesterday's US retail sales release have given market doves a new lease of life and allowed them...
Business
Richard Leopold is new Bentley Regional Director for UK, Middle East, Africa, India
Leopold replaces Sarah Simpson who leaves Bentley to join Porsche GB as CEO. The UK, Middle East, Africa...
Saudi insurance merger to create massive investment fund
The merger will create cost savings of tens of millions of riyals GOSI and the PPA are major investors in...
Dubai real estate records $2.9b investment in May 2021
11,387 new investors enter the market, comprising 66 percent of total registered investors since the beginning of 2021 Hadaeq Sheikh...
Danube Group chairman hails UAE investor environment
Sajan says UAE provides incentives and legislations that encourage investment and commerce Thanks UAE leadership for amending federal laws regulating...
Aramco disburses in full international trust certificates for $6 billion sukuk
The company issued 30,000 sukuk with a par value of $200,000 each The sale, launched on June 9, was Aramco’s...
Payment24 introduces ‘vehicle biometrics’ to fast track refueling
Payment24’s FastLane identifies any vehicle enrolled in the system as it drives into the forecourt It allows petroleum companies and...
Morgan Stanley alum to raise $600 m for clean energy funds
Founded by Ahmad Atwan, VC Fuel intends to raise $100m for debut venture fund and seek $500m for an infrastructure...
Emirates ramps up operations over summer to serve strong travel demand
Airline will operate flights to 124 destinations in July, close to 90% of pre-pandemic network Expands A380 network to 15...
Bananas with GI tag from India shipped to Dubai
20,000 metric tons of Jalgaon Banana, grown in the Maharashtra state of India, exported to Dubai Fibre-rich fruit is grown...
RELEX to service Majid Al Futtaim Carrefour stores
RELEX servicing will be initially rolled out to stores in the UAE and then extended to other areas The partnership...
Asian markets rally after Wall Street highs, oil prices slide
"The weakness of yesterday's US retail sales release have given market doves a new lease of life and allowed them...
Business
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Infosys Q1 profit drops
Business
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Barwa Q1 net profit $64.55m
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SoftBank to sell Alibaba stake
Business
Jordan, World Bank sign US$250m agreement to boost water efficiency
Amman, Jordan--Jordan and the World Bank have signed a $250 million financing agreement for a water sector efficiency project in...
Economy
Middle East tackles AI hurdles, embraces opportunities
The region, rich in history and culture, is expected to accumulate substantial global AI benefits, reshaping its traditional sectors and...
Business
Commercial transport sector added $4.38bn to Dubai economy, says RTA
DUBAI, UAE - Commercial transport sector contributed AED16.1 billion ($4.38bn) to Dubai's economy in 2022, said Mattar Al Tayer, Director-General,...
Economy
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Business
Lebanon’s poverty means more work for craftsmen
As inflation averages 171% in 2022, one of the highest rates worldwide, people prefer to fix old items such as...
- Despite the crash, Lebanese officials have failed to enact reforms demanded by international donors that would unlock bail-out funds.
- The Lebanese pound has lost around 98 percent of its value against the US dollar, and most of the population has been plunged into poverty.
Business
Almarai profit rises 27% in H1
The higher earnings were driven by an increase in revenue.
- The first-half results were also lifted by Almarai’s full acquisition of International Dairy and Juice Limited (IDJ) despite higher finance costs. Â
- The company’s Q2 2023 net profit rose 7 percent to SAR557.1 million, compared to SAR520.36 million in the year-earlier period.
Business
Herald, SAIF Zone sign agreement
Herald aims to expand its presence in the region.
- Under the new deal, Herald Holdings has secured 173,000 square feet (sq.ft) on lease in SAIF Zone to construct a logistics facility.
- The facility will offer comprehensive warehousing services and seamless cargo transportation by air, land, and sea.