Search Site

Trends banner

Business

ADNOC Drilling H1 revenue $2.37bn

The company posted a net profit of $692m.

Eni profit falls due to dip in oil prices

Q2 net profit fell by 18% to $637 million.

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

SABIC net loss $322 million

The company's net profit was $66m in Q1 2024
  • Losses were driven by a SAR 1.05 billion drop in gross profit on higher feedstock prices.
  • On a sequential basis, net loss shrank from SAR 1.89 billion in Q4 2024.

PureHealth posts $137m Q1 net profit

The Group's revenue increased 8 percent YoY.
  • EBITDA grew 5 percent year-on-year to AED 1.1 billion and net profit grew 3 percent year-on-year to AED505 million in Q1-2025.
  • haista Asif, Group Chief Executive Officer at PureHealth, commented, “PureHealth’s first quarter results reflect the solid growth witnessed across all core segments."

Trump Organization inks deal to build a golf course and villas in Doha

Doha, Qatar -- The Trump Organization signed on Wednesday its first development deal in Qatar to build a golf course...
  • Eric Trump, executive vice president of the Trump Organization and the US president's son, attended the signing ceremony with Qatari Diar and Dar Global.
  • The 18-hole Trump International Golf Course and Trump Villas are to be constructed as part of a major government-backed development scheme, Simaisma Project.

Borouge Q1 net profit $281 million

The total dividend paid to shareholders in 2024 $1.3bn.
  • Q1 2025 operational performance remained strong, with production volumes rising 7 percent year-on-year in the first quarter of 2025.
  • Revenue in Q1 2025 grew 9 percent year-on-year to $1.42 billion, driven by higher average selling prices and increased sales volumes.

Loyalty Lost: How brands need to adapt to the modern traveler

Dubai, UAE: As 2025 unfolds, travel brands are facing a significant challenge: customer loyalty. Traditional rewards programmes, often based on points systems,...
  • To stay competitive, brands must move away from price-based rewards like discounts, which can boost short-term sales but impact profitability
  • Instead, focusing on personalised offers, exclusive experiences, and tiered memberships is key to fostering long-term customer loyalty

Emirates expects first 777X delivery in H2 2026

Boeing had pushed back the first delivery to 2026 from 2025.
  • In 2024, group's chairman Sheikh Ahmed bin Saeed Al Maktoum urged Boeing to "fix" its problems, warning the embattled aircraft-maker he was unhappy with delays to the 777X.
  • Boeing had been mired in problems including safety concerns after two 737 MAX crashes within five months and another scare involving the aircraft over Alaska in Jan 2024.

Meta releases standalone AI app, competing with ChatGPT

San Francisco, United States -- Social media behemoth Meta unveiled its first standalone AI assistant app on Tuesday as it...
  • Zuckerberg said the app "is designed to be your personal AI" and would be primarily accessed through voice conversations with the interactions personalized to the individual user.
  • The release comes as OpenAI stands as a leader of straight-to-user AI through its ChatGPT assistant that is regularly updated with new capabilities.

Amazon launches first Starlink-rival internet satellites

Project Kuiper, a subsidiary of the online retail giant founded by Jeff Bezos, is playing catch-up with Starlink - SpaceX's...
  • The $10 billion initiative plans to deploy 3,200 satellites into low Earth orbit - the region of space up to 1,200 miles - with hopes of going live later this year
  • SpaceX launched the first batch of Starlink satellites in 2019 and now boasts more than 6,750 operational units, serving over five million customers worldwide

Aramco, unit and Sinopec ink $4bn deal

The two companies will establish a joint venture company.
  • Sinopec and its unit shall contribute $990 million and $1.98 billion in cash, respectively.
  • AAS will allocate the remaining amount, representing 25 percent of the JV’s registered capital.

Amazon set for launch of its first batch of Starlink-rival satellites

Washington, United States -- After delaying an earlier attempt due to bad weather, Amazon is preparing to launch its first...
  • The mission, called Kuiper Atlas 1, is scheduled to lift off from Cape Canaveral Space Force Station in Florida at 7:00 pm local time (2300 GMT).
  • The $10 billion initiative plans to deploy 3,200 satellites into low Earth orbit -- the region of space up to 1,900km above the planet.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

Latest News

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

Eight-country coalition aims to tax luxury air travel

Seville, Spain -- Countries including France, Kenya, Barbados and Spain on Monday launched a coalition to push for taxes on...

Meta’s AI talent war raises questions about strategy

New York, United States -- Mark Zuckerberg and Meta are spending billions to recruit top artificial intelligence talent, triggering debates...

Most Read

Meta spending big on AI talent but will it pay off?

New York, United States - Mark Zuckerberg and Meta are spending billions of dollars for top talent to make up...
  • OpenAI boss Sam Altman recently lamented that Meta has offered $100 million bonuses to engineers who jump to Zuckerberg's ship, where hefty salaries await
  • A few OpenAI employees have reportedly taken Meta up on the offer, joining Scale AI founder and former chief executive Alexandr Wang at the Menlo Park-based tech titan

Trump metal tariffs wreak havoc on US factory

Belcamp, United States --  In the sweltering US summer, metal containers decorated with snowmen and sleighs are taking shape --...
  • At Independent Can's factory in Belcamp, Maryland northeast of Baltimore, CEO Rick Huether recounts how he started working at his family's business at age 14.
  • Huether, now 73, says he is determined to keep his manufacturing company afloat for generations to come. But Trump's tariffs are complicating this task.

Indonesia begins $5.9 bn EV battery project despite environment fears

Jakarta, Indonesia -- Indonesia broke ground Sunday on a $5.9 billion megaproject for EV battery production backed by Chinese giant...
  • Indonesia is the world's largest nickel producer and it is trying to capitalize on its vast reserves.
  • The EV battery project will include a $4.7 billion investment on the eastern island of Halmahera and a $1.2 billion investment in West Java.