Dubai SME, Danube Group partner to aid Emirati-owned SMEs
Dubai, UAE – Danube Group, a leading conglomerate in the Middle East and Dubai SME, a subsidiary of the Dubai...
Business
Algeria signs gas field deal with oil giant ExxonMobil
Algiers, Algeria - Algeria's state oil company announced Thursday it signed a memorandum with ExxonMobil to develop two gas fields, a...
Business
Snapchat to add in-app Amazon shopping
In-app shopping will be available for select products advertised on Snapchat and sold at Amazon, the spokesperson added. People will...
- Snapchat-parent Snap shares shot up more than 7 percent on the news, ending the formal trading day at $12.15 per share
- Snap and Amazon last year unveiled a collaboration that let Snapchat users "try on" eyeglasses using AR then buy those they liked at Amazon
Business
AD Ports net profit up
It posted a 189% jump in revenue in Q3 to US$1.15bn.
- Its EBITDA rose by 28% YoY to $207 million during the third quarter, largely supported by the acquisition of Noatum and Karachi Gateway Terminal
- The company said that the negative net operating cash flows of $158 million were impacted by a temporary deterioration in working capital
Business
Google warns against downloading its AI model from external sources
Washington, US--Google has warned users against trying to obtain its Cold generative artificial intelligence (AI) model from external sources currently...
- According to Google the download delivers malware to victims, stealing sensitive data and starts from a user's social media accounts
- The company is working on Bard tools to integrate them into many of the different services it provides from search engine to Pixel phones
Business
Black Friday is a $74bn opportunity for MENA retail. But is it losing sheen by ‘blindly copying’ the West?
The expected injection of billions of dollars into the retail business through sale of varied items can turn out to...
- In 2021, Black Friday sales notched up $61 billion, followed by a further upswing in sales to $70 billion in 2022, and this year sales are expected to cross the figure
- According to several experts, the annual event continues to draw consumers across the GCC, with nearly 85 percent of them expected to participate in Black Friday
Business
Black Friday is a $74bn opportunity for MENA retail. But is it losing sheen by ‘blindly copying’ the West?
The expected injection of billions of dollars into the retail business through sale of varied items can turn out to...
- In 2021, Black Friday sales notched up $61 billion, followed by a further upswing in sales to $70 billion in 2022, and this year sales are expected to cross the figure
- According to several experts, the annual event continues to draw consumers across the GCC, with nearly 85 percent of them expected to participate in Black Friday
Business
EgyptAir orders 10 Airbus A350 planes in $3.2bn deal at Dubai Airshow
The transaction is worth $3.2 billion, reports say.
- Airbus commercial director Christian Scherer told a news conference the deal marked "an important milestone" in the "long and successful partnership" with EgyptAir
- Airbus, which on Monday announced an order for 30 A220-300s from Latvian budget carrier airBaltic, has been overshadowed by US rival Boeing at this year's Dubai Airshow
Business
UAE’s Tawazun Council signs deals worth $1.27bn at Dubai Airshow
Dubai, UAE - UAE's Tawazun Council, an independent government entity that works closely with the Ministry of Defense and security...
- Four contracts were signed by Tawazun Council on behalf of the Ministry of Defense with local companies, totaling AED 2.7 billion ($740m)
- A contract was signed with “Air Dynamics Solutions” to provide Technical Support and Purchase of Spare Parts and Repair of Aircrafts.
Foxconn reports 11% rise in profit
Foxconn is China's largest private-sector employer.
- Foxconn said net profit for July-September rose to Tw$43.1 billion (US$1.3 billion) from Tw$38.8 billion in the same period last year
- Tuesday's results follow consecutive quarterly profit misses - with January-March seeing a drop of 56 percent and a one percent fall in next three months
Business
Emirates to build advanced $950m engineering facility at DWC
Dubai, UAE -- Emirates has unveiled a plans to build a $950 million cutting-edge engineering facility at Dubai World Central...
- Spanning 1 million square meters, the engineering complex is set to become the most extensive and advanced facility of its kind operated by any airline globally.
- Tailored to meet the evolving needs of Emirates' aircraft fleet through the 2040s, the facility is expected to provide support for the airline's operations.
Business
Denmark, Netherlands top destinations for remote working: Report
Davos, Switzerland -- Denmark, the Netherlands, and Germany have emerged as the leading countries for remote working, offering the best...
- The Global Remote Work Index, which evaluates 108 countries, is a crucial tool for remote workers seeking the best destinations for their work.
- A WEF report, which surveyed over 800 companies employing more than 11 million workers, highlights remote working as a significant trend.
Dubai SME, Danube Group partner to aid Emirati-owned SMEs
Dubai, UAE – Danube Group, a leading conglomerate in the Middle East and Dubai SME, a subsidiary of the Dubai...
Business
Company News
Kuwait leads GCC market gains amid regional tensions
Market Report
Latest News
Global challenges hit M&A activity in Middle East, GCC
Sovereign Wealth Funds emerge as pivotal players, driving economic diversification and strategic cross-border partnerships, says Riccardo Molinari of Bain &...
Business
Ratcliffe unveils electric Ineos car
Jim Ratcliffe is the co-owner of the Manchester United.
Most Read
Business
Chip giant TSMC shifts to Japan
The company produces half the world's chips.
- Taiwan Semiconductor Manufacturing Company, which counts Apple and Nvidia as clients, produces half the world's chips
- But TSMC's customers concerned about supplies of semiconductors want the firm to make more chips away from the self-ruled island
Dow, S&P 500 hit fresh records, but Nasdaq ticks lower
The tech-rich Nasdaq slipped by 0.3 percent to 15,996.82 -- a day after surging by 3.0 percent following strong earnings...
- The Dow Jones Industrial Average, America's blue-chip index, rose 0.2 percent to end the day at a record high of 39,131.53
- The broad-based S&P 500 was barely positive for the day, rising by well under 0.1 percent. Nevertheless, it inched higher to a new record of 5,088.80
Business
Saudi solar company ALUPCO partners with Mexico-based Array technologies
Riyadh, Saudi Arabia - Saudi Arabian aluminum extrusion company Aluminum Products (ALUPCO) has entered into a strategic collaboration with Array...
- ALUPCO, headquartered in Dammam, Saudi Arabia, is recognized as a leading aluminum solutions provider in the Middle East and North African region
- Array Technologies, known for manufacturing solar tracker technology for over 30 years, has operations in Arizona, Australia, Brazil, England, South Africa, and Spain