UAE places sixth among world’s most popular Muslim-friendly destinations
Dubai, UAE -- Mastercard and CrescentRating released the 11th edition of the Global Muslim Travel Index (GMTI), revealing how AI,...
Business
Qatar’s foreign investment jumps 52% as 2025 projects reach record levels
Qatar attracted $3.4 billion in foreign direct investment across 373 projects in 2025, a 52% increase in new investments from...
Business
Business
Ghitha Holding buys stake in MNG Airlines
The acquisition of 44% stake is valued at US$211.20 million.
- The buying of stake in the airline is expected to mark a significant stride towards diversifying Ghitha Holding’s robust portfolio
- The Turkish airline offers specialized services including scheduled and block space charter, aircraft, crew, maintenance and insurance
Business
Abu Dhabi Airports appoints Elena Sorlini as Managing Director and CEO
Abu Dhabi, UAE - Abu Dhabi Airports, the operator of Abu Dhabi's five commercial airports, has announced the appointment of...
- Since joining Abu Dhabi Airports, Sorlini has overseen the successful opening of Abu Dhabi International Airport's new state-of-the-art Terminal A
- Additionally, she has played an important role in maintaining the steady increase of passenger traffic numbers, which continue to experience year-on-year growth
Business
Investors eye UAE’s booming sustainable finance sector
"Numerous opportunities exist in sustainable investments, especially in sectors like building systems, renewable energy, water, food and agriculture, shipping, among...
- The UAE is experiencing remarkable growth in sustainable finance, according to Barclays Private Bank UAE CEO Rasha Badawi.
- Sustainable investment opportunities expanding in the UAE across various sectors including renewable energy and agriculture, she adds.
Business
Jeddah Central Development Company signs 4 contracts worth $3bn
Jeddah, Saudi Arabia - The Jeddah Central Development Company, a company owned by the Public Investment Fund (PIF), signed four...
- The Jeddah Central Development Company will open the Jeddah Central destination to receive visitors at the end of 2027 from inside and outside the Kingdom
- The destination will include the Stadium, the Opera House and the Oceanarium, in addition to a sandy beach, a pier, a seafront promenade, and a marina
IHC net profit soars to US$8.9bn
The company's revenue for the year 2023 stood at US$16.33bn.
- The company's earnings per share (EPS) witnessed a huge rise, more than doubling from AED 6.81 to AED 12.36
- The group said that its preliminary revenue rose to $16.33 billion, marking an 18% increase from the previous year
Business
Gulf realty navigates opportunities and challenges
The GCC real estate sector enters 2024 amidst a complex interplay of global economic challenges and regional opportunities, says a...
- The GCC real estate sector enters 2024 amidst a complex interplay of global economic challenges and regional opportunities, says a latest report.
- With Dubai defying global trends and Saudi Arabia's Vision 2030 spurring growth, the landscape is ripe with potential. Qatar, however, faces correction.
Business
McDonald Q4 profit up
McDonald's cited war in the Middle East as a drag.
- Profits in the quarter grew seven percent to $2.0 billion, while revenues increased eight percent to $6.4 billion.
- Global comparable sales grew 3.4 percent in fourth quarter, down from 8.8 percent in the third quarter and below the annual average
Business
Vodafone Q3 revenue dips
Poor display across Italy, Spain is said to be the reason for loss.
- Revenues dipped 2.3 percent to 11.4 billion euros ($12.3 billion) in the three months to the end of December, compared with a year earlier.
- "We maintained... revenue momentum in the third quarter," said chief executive Margherita Della Valle, adding the group had made "good strategic progress".
Business
Investment in Qatar free zones reaches US$1.3bn, says QFZ chairmanÂ
DOHA, QATAR - Minister of State and Chairman of Qatar Free Zones Authority (QFZ) Dr. Ahmad bin Mohammed Al Sayed...
- The QFZ chairman held a meeting with a delegation led by First Vice-Chairman of Qatar Chamber Mohamed bin Ahmed bin Twar Al Kuwari.
- The delegation paid a field tour to the Ras Bufontas Free Zone to explore the investment benefits and business opportunities within the free zones.
Business
European markets surge as US jobs data batter rate cut hopes
"The markets continue to forge ahead despite a blowout jobs report from the US last Friday which seems to have...
- Fed policymakers had left traders disappointed last week when they said after a meeting that they were unlikely to loosen policy at their next gathering.
- Most of Asia struggled again, however, with Hong Kong and Shanghai extending a sell-off fueled by growing concerns about the Chinese economy
UAE places sixth among world’s most popular Muslim-friendly destinations
Dubai, UAE -- Mastercard and CrescentRating released the 11th edition of the Global Muslim Travel Index (GMTI), revealing how AI,...
Business
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Apple to invest additional $100 bn in US: White House
Washington, United States -- Apple will invest an additional $100 billion in the United States, taking its total pledge to...
Business
60 percent travelers in UAE trust AI to plan their trips: Report
Dubai, UAE -- Â Nearly 60 percent of travelers in the UAE trust Artificial Intelligence (AI) to plan every aspect of...
Business
Globalization must be inclusive, not extractive. Multinationals can lead by example
We’re witnessing a period of dramatic adjustment in international trade, as tariffs and geopolitical tensions disrupt or reorient supply chains....
Business
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Business
Neo Space Group launches Saudi Arabia’s first earth observation marketplace
Riyadh, Saudi Arabia -- Neo Space Group (NSG), a Public Investment Fund (PIF) company, has announced the launch of the...
- NSG stated that the EO Marketplace will bring together a growing network of EO data providers and value-added service providers offering advanced geospatial analytics
- The platform is built to empower public sector agencies, Saudi companies, and international users by offering a wide range of high-resolution satellite imagery
Business
Tesla approves $29 bn in shares to Musk as court case rumbles on
Washington, United States -- Tesla announced an "interim" compensation award worth about $29 billion for Elon Musk on Monday, asserting...
- The award comes as Tesla challenges a Delaware court ruling that struck down a 2018 package of about $55.8 billion.
- The move comes amid a fierce battle for top engineering talent as companies like Google and Meta compete for leadership on artificial intelligence.
Business
Jordan sees decrease in number of tourists over Gaza war
Amman, Jordan -- Jordan has seen a decrease in the number of tourists visiting its famed ancient city of Petra...
- According to figures from the Petra tourism authority carried by official media, 32 hotels have had to shut down and nearly 700 people have lost their jobs.
- Petra, famous for its stunning temples hewn from rose-pink cliff faces, is a UN World Heritage site.