Sharjah Chamber registers 30,000 memberships in H1
Dubai, UAE -- The Sharjah Chamber of Commerce and Industry (SCCI) reported an impressive surge in registered memberships in the...
Business
Saudi launches one-stop platform for summer travel offers and experiences
Dubai, UAE -- Saudi Arabia's tourism authority has launched a digital platform bringing together travel offers and tourism packages from...
Business
Business
UAE leads in cybersecurity for unmanned systems
"The digital transformation, which relies on artificial intelligence technologies, has touched all sectors and contributes to improving the quality of...
- Dr. Mohamed Hamad Al Kuwaiti stresses the importance of cybersecurity in unmanned and autonomous systems.
- The UMEX and SimTEX exhibitions showcased the UAE's esteemed position as a global hub for unmanned systems.
Geostrategy
Apple to make changes to App Store in Europe
iPhone users can download alternative app stores.
- The changes expected to take place in March will curtail the dominance of the App Store
- The company said on Thursday the Digital Markets Act has created "privacy and security risks"
Business
Global Islamic finance market to touch US$4.9trn in 2025, says Malaysian official
Hong Kong-- The global Islamic finance market would touch US$4.9 trillion by 2025, according to Yazrin Syakhairi, Malaysian Trade Commissioner...
- The official said the Islamic finance market is seeing significant and rapid growth worldwide, surpassing the size of US$2.2 trillion in 2022
- He said the Islamic finance industry has seen a noticeable growth in the Middle East and the Association of Southeast Asian Nations (ASEAN)
Business
Alaska Airlines to take US$150m hit
It grounded the Boeing 737 MAX after in-flight safety episode.
- The airline's financial hit is the latest ripple effect from the episode, which prompted regulators to ground 171 MAX 9 planes
- With 65 planes affected by the grounding, Alaska Airlines expects to bring the jets back into service beginning Friday
Business
UAE, Malaysia sign MoU to enhance ties in digital-infrastructure sector
Abu Dhabi, UAE-- The UAE and Malaysia have signed a memorandum of understanding (MoU) to boost investment cooperation in the...
- The agreement envisages setting up collaboration by developing bilateral relationships between public and private organisations
- The trade ties between the UAE and Malaysia have climbed up, with non-oil trade volume surpassing $2.22bn in H1 of 2023
Interview
WEF24: Investor confidence fuels sustainable growth
GFH Financial Group has made significant investments in healthcare, education, logistics, and private lending in Saudi Arabia and the UAE,...
- GFH Financial Group has made significant investments in healthcare, education, logistics, and private lending in Saudi Arabia and the UAE, its CEO tells TRENDS in Davos.
- To counter potential US recession and inflation, the group's strategy emphasizes investing in digital payments, mobile apps, and AI technologies for robust growth.
Market Report
UAE, KSA lead as tech and energy drive IPOs in GCC
The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both...
- The 2024 outlook for GCC IPO markets shows strong potential with diversified sector participation, bolstered by government support for both state-owned and private offerings.
- ADNOC Gas' large IPO underscores the region's market robustness, while the technology sector reclaims the lead in IPO proceeds, showcasing dynamic market strength.
Business
Vodafone Qatar 2023 profit up
The 2023 net profit of Vodafone Qatar increased to $148 million.
- Vodafone Qatar’s net profit for the nine months ending September 2023 reached US$107 million.
- This reflects a growth of 17.3 percent compared to the same period in 2022, mainly driven by higher EBITDA.
Business
Microsoft lays off 1,900 staff
The move comes after Activision Blizzard gaming buyout.
- Alongside the layoffs, Blizzard president Mike Ybarra said he was leaving the company.
- Microsoft launched its blockbuster takeover in January 2022, an acquisition that made it the world's third-largest gaming company by revenue.
Business
EDGE bags another big order
The group will supply 200 unmanned helicopters to UAE defense ministry.
- The unmanned VTOL systems will be manufactured by Switzerland-based EDGE entity, ANAVIA.
- In November 2023, EDGE acquired a 52 percent majority shareholding in ANAVIA, which manufactures unmanned helicopters.
Sharjah Chamber registers 30,000 memberships in H1
Dubai, UAE -- The Sharjah Chamber of Commerce and Industry (SCCI) reported an impressive surge in registered memberships in the...
Business
Company News
Emirates Islamic Q1 profit $394m
Business
Latest News
Coca-Cola agrees to use real cane sugar in its US production
Washington, United States - Beverage giant Coca-Cola has agreed to use real cane sugar in its US production, President Donald...
Business
China’s Baidu to deploy driverless cars on Uber
Beijing, China -- Chinese internet giant Baidu plans to launch its driverless cars on ride-hailing app Uber in Asia and...
Business
Most Read
Business
Salini awarded $600m contract for 400 retail units in Diriyah Square
Riyadh, Saudi Arabia -- Diriyah Company has announced the award of a major new $600 million (SAR2.249 billion) contract for...
- Diriyah Square is located at the heart of Diriyah, the City of Earth, within the unique Najdi-inspired architectural Diriyah Masterplan.
- It is designed to develop a vibrant retail district featuring a mix of 400 iconic retail, leisure, and dining brands.
Business
Low-cost carrier Wizz Air to stop Abu Dhabi operations
Budapest, Hungary -- Hungarian low-cost airline Wizz Air said Monday that it would end its Abu Dhabi operations, which have...
- The airline will exit its  Abu Dhabi hub starting from September.
- The seventh biggest European airlines in terms of daily flights operated around 30 routes in the Middle East.