30% productivity leap: Building the machinery of tomorrow
By embracing digital tools, AI, and sustainable practices, companies can optimize production, redefine their role, and propel themselves towards a...
Business
Germany shares observations on Qatar hosting Autonomous e-Mobility Forum
In its efforts toward sustainable transportation, the German embassy is the first diplomatic representation in Doha to utilize an electric...
Business
Business
Borouge Q3 net profit up 22%
The rise in net profit was driven by 16% increase in sales.
- The company has committed a dividend of $1.3 billion (15.9 fils per share) for the 2023 financial year, which equates to a 6.3 percent current dividend yield.
- Third-quarter revenue increased 6 percent quarter-on-quarter, reaching $1.5 billion, and declined 11 percent year-on-year. On a year-on-year basis, net profit declined by 9 percent
Business
Saudi Ministry of Investment and Agility sign MoU to boost healthcare sector
Riyadh, Saudi Arabia-- Saudi Arabia and Agility have signed a memorandum of understanding (MoU) to introduce cutting-edge health technology and...
- The agreement includes the potential to widen digital health services and localizing the supply chain for innovative new medical technologies
- The MoU looks to widen people's access to preventative health services to combat chronic diseases such as cardiovascular disease and breast cancer
Business
HSBC Q3 profit up
Its pre-tax profit more than doubled to US$7.7bn.
- The banking giant reported third-quarter revenue grew 40 percent to $16.2 billion
- It announced a new $3bn share buyback program, after two similar initiatives this year
Interview
‘ESG, AI and robotics remain FII’s investment focus’
FII Institute remains committed to innovative and sustainable technology investments, Anthony Berkley, ACT Director and Head of Investments, tells TRENDS.
- FII Institute remains committed to innovative and sustainable technology investments, Anthony Berkley, ACT Director and Head of Investments, tells TRENDS.
- Its portfolio includes pioneering firms in AI and robotics, reflecting a focus on impactful solutions in critical areas like sustainability, health, and education.
Business
Hamriyah Freezone and Amazon UAE sign lease agreement for new logistics center
Sharjah, UAE--Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics centre which will...
- The agreement supports Amazon UAE’s commitment to investing across the country in order to shore up economic growth and innovation
- The freezone's infrastructure and location together with Amazon's technology are expected to boost customer convenience and reliability
Business
Saudi Exchange to launch Single Stock Options contracts
Riyadh, Saudi Arabia – The Saudi Exchange on Sunday announced its intention to launch the Single Stock Options (SSOs) contracts,...
- SSOs contracts will be available to trade on 27 November 2023, enabling local and international investors to hedge and manage portfolio risks effectively
- The contracts will be cleared and settled by the Securities Clearing Center Company (Muqassa) in line with international best practices
Business
Arab Bank posts net profit
It posted a profit of $630 million in January-September 2023.
- The Group maintained its strong capital base with a total equity of $10.8 billion.
- Excluding the impact of devaluation of several currencies against the US dollar, loans grew by 4 percent.
Business
Hamriyah Freezone Authority, Amazon UAE ink pact for logistics center
SHARJAH, UAE - Hamriyah Freezone Authority (HFZA) and Amazon UAE have signed a lease agreement for a new logistics center...
- Once launched, the new center will enable a seamless delivery experience across the Northern Emirates.
- HFZA’s location and over 20 years of Amazon’s technology and operational expertise will enhance convenience for customer orders.
Business
Elm net profit up 43%
The profit growth was driven by 27% revenue increase.
- The rise in revenue resulted from a surge in digital business revenue by 42.70 percent.
- The third-quarter net profit grew 22.2 percent to SAR 334 million, from SAR 273.36 million in Q3 2022.
Business
Sulaiman Al Habib 9M profit $405m
The Group reported a nearly 16% year-on-year rise in revenues.
- The higher revenues were driven the hospital and pharmacy segments, due to the increase in the number of patients and inpatients occupancy.
- In Q3 2023, the net profit climbed 30 percent to SAR 544.8 million from SAR 420.6 million in Q3 2022.
30% productivity leap: Building the machinery of tomorrow
By embracing digital tools, AI, and sustainable practices, companies can optimize production, redefine their role, and propel themselves towards a...
Business
Company News
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GSK profit in 2023 falls
Business
GCC emerges as a cryptocurrency investment hub
Driven by government initiatives, economic diversification and a tech-savvy population, the region is becoming a prominent center for cryptocurrency investment,...
Business
Saudi holdings of US Treasuries surge to $131.9b in December 2023
ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...
Economy
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Business
OpenAI valued at $80bn in new deal
With this deal, the value of the firm has tripled in 10 months.
- The deal would have the San Francisco-based firm selling existing shares to investors led by Thrive Capital
- The tech firm led a revolution in artificial intelligence when it placed its ChatGPT program online in late 2022
Business
Saudi Arabia aims to build ties with Canada in scientific and research fields
Riyadh, Saudi Arabia-- Saudi Arabia is exploring investment opportunities in education and aiming to attract investments to the kingdom from...
- The Saudi education minister explored investment opportunities in education, besides seeking to foster scientific and research collaboration between the two countries
- The visit of the Saudi delegation also looked to consolidate the partnerships between the kingdom's ministry of education and Canadian universities and colleges.
Opinion
Zero trust remains an ongoing cybersecurity evolution
Achieving Zero Trust Data Resilience is not an overnight task but a journey requiring organizational alignment, continuous adaptation, and the...
- Zero Trust is a mindset, not a destination, requiring continuous evolution in cybersecurity practices.
- Cybersecurity is an arms race, with the need to adapt and evolve to remain ahead of online threats.