Etihad enters largest summer season with more than 300 daily flights
Dubai, UAE -- Etihad Airways is entering its largest summer season on record, operating more than 300 flights a day...
Business
AI success in life sciences depends on people as much as technology: Bain
Organizations creating the most value from AI are not necessarily those deploying the most technology. Instead, they are redesigning workflows,...
Business
Business
Lunate Capital launches Shariah-compliant ETF tracking Indian equities
ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid,...
- The fund will track the performance of Shariah-compliant Indian equities listed on the Bombay Stock Exchange.
- The Index tracks the performance of the 30 most liquid Shariah-compliant Indian stocks listed on the BSE.
Geostrategy
CBUAE cancels license of First Insurance Brokers Company
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) has cancelled the license of First Insurance Brokers Company...
- The sanction comes as a result of the CBUAE’s decision following the company’s non-compliance with the regulations.
- The CBUAE works to ensure that all insurance companies and related professionals comply with laws and regulations.
Business
QNB net profits up 8% in 2023
The QNB Group posted a net profit of $4.25 billion.
- The bank said that earnings per share (EPS) amounted to QR 1.55 as of 31st December 2023 compared to QR 1.44 for the same period in 2022.
- The bank's board has announced the distribution of a cash dividend of 65 percent of the nominal share value (QR 0.65 per share).
Economy
Tawazun Council acquires TASNEEF
Subsidiaries of TASNEEF were also acquired.
- This strategic move aims to enhance the council's role in developing national defense industries, the Council said.
- TASNEEF has established a number of services, including issuing rules of relevance to the classification of ships.
Business
Sharjah, Sfax chambers look to boost ties between UAE and Tunisia
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Chamber of Commerce and Industry of Sfax, Tunisia, held...
- The talks centered upon holding joint events and improving coordination to encourage businessmen to participate in exhibitions
- The Sharjah Chamber received an invitation from the Tunisian side to participate in an exhibition at the Sfax International Fair
Business
Tesla suspends production in Germany
Houthi attacks in the Red Sea caused a shortage of parts.
- Tesla said the Red Sea attacks had led to delays that created a "gap in the supply chains", resulting in production being suspended
- Houthis have ramped up attacks on commercial and military vessels in the Red Sea in what they say is solidarity with Palestinians in Gaza.
Business
Wars to cast pall over meeting of global VIPs in Davos
Paris, France - The world's political and business elites will convene in Davos next week, with wars in Gaza and Ukraine...
- Russia's nearly two-year-old assault on Ukraine has taken centre stage at previous editions of the World Economic Forum (WEF)
- The gathering "is taking place against the most complicated geopolitical and geoeconomic backdrop in decades", said WEF president Borge Brende
Business
UAE and Costa Rica conclude talks on signing CEPA
Dubai, UAE-- The UAE and Costa Rica have concluded negotiations to sign a comprehensive economic partnership agreement. In this connection,...
- The two countries will eliminate tariffs, reduce barriers to trade, promote private-sector collaboration and create pathways for investment
- Non-oil trade between the UAE and Costa Rica has been growing consistently year-on-year, climbing 23% in 2022 to reach US$60.4 million
Business
NEOM announces Aquellum as futuristic lifestyle community
NEOM, SAUDI ARABIA - The Board of Directors of NEOM has announced Aquellum, a luxury and experiential space embedded within...
- Aquellum is hidden within a breathtaking 450-meter-high mountain range.
- The subterranean digitalized community creates vibrancy and interconnectivity.
Geostrategy
Saudi Arabia signs MoUs with four countries for development in mining industry
RIYADH, SAUDI ARABIA – The Ministry of Industry and Mineral Resources has signed four Memorandums of Understanding (MoUs) with the...
- The roundtable highlighted the need for governments and industry to achieve economic and social development for local communities.
- A total of 79 governments, 13 international organizations, 15 NGOs and seven business associations took part in the roundtable.
Etihad enters largest summer season with more than 300 daily flights
Dubai, UAE -- Etihad Airways is entering its largest summer season on record, operating more than 300 flights a day...
Business
Company News
Latest News
Dar Alarkan 2024 profit up 32%
Business
Chip-maker Micron expands US investment to $200 bn backed by Trump
Washington, United States -- Chip giant Micron Technology on Thursday said it was expanding its domestic investment plan to $200...
Business
The most eye-catching products at Vivatech fair
For humans, spotting the difference between a Lacoste polo shirt and a fake sporting the brand's crocodile logo can be...
Geostrategy
Nvidia marks Paris tech fair with Europe AI push
Paris, France -- Drawing high-powered tech CEOs and a presidential visit, the Vivatech trade fair opened in Paris on Wednesday...
Business
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Business
Sharjah’s real estate sector records $1.49bn in transactions during May
Sharjah, UAE --Â Sharjah's real-estate market during May 2025 recorded a total of 8,415 transactions worth AED 5.5 billion. Â Of...
- Â Of these, 1,574 were sales transactions, accounting for 18.7% of the total, a clear indicator of increasing demand for real estate.
- Mortgage activity remained strong, with 381 mortgage transactions, representing 4.5% of all transactions and totaling more than AED1.1 billion in value.
Interview
A hospitality trailblazer talks resilience in a shifting global landscape
Duncan O’Rourke, CEO, Premium, Midscale, and Economy Division for Middle East, Africa and Asia Pacific at Accor, spells out the...
- The CEO stressed that Accor’s robust development pipeline and ambitious growth across Saudi will deliver 44 additional hotels by 2030.
- Accor's lifestyle division, Ennismore, is now the world’s largest and most innovative lifestyle hospitality player in the industry.
Business
ADNOC Gas announces $5 billion investment in Rich Gas Project
Abu Dhabi, UAE -- ADNOC Gas announced Tuesday it has made a final investment decision on the first phase of...
- UK-based firm Wood secured the largest tranche, valued at $2.8 billion, for work at the Habshan facility.
- Petrofac will lead a $1.2 billion project for the Das Island facility, while Kent Plc will manage a $1.1 billion project covering the Asab and Buhasa sites.