Air Arabia Egypt marks its first flight to Istanbul
CAIRO, Egypt – Air Arabia Egypt on Sunday commenced its first non-stop flight from Cairo International Airport to Sabiha Gökçen...
Business
Dubai receives 3.67 million visitors in first two months of 2024
Dubai, UAE--Dubai received 3.67 million overnight visitors in January-February 2024, with an increase of over 18 percent year-on-year (YoY), figures...
Business
Business
Mawani, SGP ink US$266m pact
The aim is to establish multiple logistics zones in the Kingdom.
- The objective is to establish logistics zones that will enhance efficiency of the sector, improve service quality and generate additional job opportunities.
- This initiative is expected to strengthen the role of the logistics sector in supporting the national economy.
Economy
World Investment Forum 2023 ends with call for greater private and public investment
Abu Dhabi, UAE – UNCTAD's 8th World Investment Forum came to a close on Friday in Abu Dhabi with a...
- The week-long event saw the convergence of 8,000 participants, including government officials, international organizations, policymakers, 700 CEOs and investors
- Held against the backdrop of a fragmented global economy, the forum addressed the profound impact on global trade and investment
Business
Volkswagen revenue up
The automaker made sales to the tune of US$83.5bn in Q3.
- The automaker's operating profit for the quarter also increased, to around $5.19 billion, on an operating margin of 6.2 percent.
- The company's sales saw a 20-percent jump in Western Europe, delivering 2.34 million vehicles over the July-September period
Business
Palms Sports posts Q3 profit
Its revenues rose 77% to US$92m in the same period.
- The company's revenue from contracts climbed 77% in Q3, surging from $58.43 million to $92 million
- Its CEO and MD Fouad Darwish said they expect Q4 to "a healthy growth year for Palms Sports"
Business
KSA, Kuwait lead as Islamic banking prospers in GCC
With the support of Vision 2030 projects and a surge in real estate lending, the banking sector's performance in the...
- With the support of Vision 2030 projects and a surge in real estate lending, the banking sector's performance in the Gulf region has been commendable, says a report
- Despite challenges such as intricate transactions and the demand for universal standards, the potential of financial technology and green financing is immense, it adds
Business
Lebanon national carrier halves flights amid fears of Israel war
BEIRUT, LEBANON -  Lebanon's national carrier on Friday said it was cutting more than half of its flights as tensions along...
- Only eight of the Middle East Airlines company’s 22 planes would operate as of next week, with the rest of the fleet relocated to other airports.
- Other airlines, including Swiss International Air Lines and Germany's Lufthansa have already temporarily suspended Beirut flights,
Business
DCT signs MoU with Microsoft to transform Abu Dhabi tourism
Dubai, UAE -- The Department of Culture and Tourism - Abu Dhabi (DCT Abu Dhabi) and Microsoft have signed an...
- Activities under the MoU will also drive growth, foster innovation and enhance knowledge among DCT Abu Dhabi employees.
- The MoU spans across the optimization, automation, and modernization of IT and security infrastructure and will be enabled by Microsoft’s cloud computing platform Azure.
Business
Air Arabia launches non-stop flights between UAE’s Sharjah, Egypt’s Giza
SHARJAH/ ABU DHABI, UAE - Air Arabia announced the launch of a new route operating between Sharjah and Giza city...
- The non-stop flights will connect Sharjah International Airport with Giza and will have a frequency of five weekly flights.
- British Airways announced that it will launch daily flights from London to Abu Dhabi next year.
Business
MAWANI and SGP sign $266m contract
They will establish a logistics zone in King Abdulaziz
- The zone will provide major logistics services, unique solutions, integrated services, and environmental systems, including warehouses and yards.
- It will also include a warehouse and re-export area to provide sorting, regional distribution, and value-added operations.
Indian firm halts uniform sales to Israel police over Gaza war
Maryan Apparel in the southern state of Kerala said it had supplied around 100,000 uniforms to Israel's police force for...
- Statement of Maryan Apparel said that a strike on a hospital and the "loss of thousands of innocent lives" in the conflict had prompted the decision
- According to the statement, the Indian firm will fulfil its existing commitments to Israel, which end in December, but will not take new orders
Air Arabia Egypt marks its first flight to Istanbul
CAIRO, Egypt – Air Arabia Egypt on Sunday commenced its first non-stop flight from Cairo International Airport to Sabiha Gökçen...
Business
Company News
Dubai Investments buys GFP stake
Business
Hamad Al Marar is EDGE CEO
Business
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DAE, Turkish Airlines ink pact
Business
Strengthen emotional security to thwart cyberattacks
While love, loneliness, and excitement are easily exploitable emotions, any factor impacting someone’s emotional state can make them a target....
Opinion
Global LNG demand to rise more than 50 percent by 2040: Shell
"Demand for natural gas has already peaked in some regions but continues to rise globally, with LNG demand expected to...
Business
UAE economy posts best growth rates in comparison to others: IMF official
Dubai, UAE-- The UAE's economy has recorded the best growth rates in comparison to other economies in the region, according...
Economy
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Business
Sony hikes net profit forecast
It now predicts full-year net profit to touch US$6.1 billion.
- The conglomerate now predicts full-year net profit of $6.1 billion
- Sony also announced it would spin off its financial services division
Opinion
CFOs at forefront of ESG integration in businesses
"The CFO's role as an ESG guardian and promoter varies significantly across organizations. CFOs with limited ESG experience should deepen...
- Integration of ESG into finance sectors highlights the evolving expectations from CFOs.
- In-house research shows 89 percent of CFOs rate communication as the most vital skill.
Business
Boeing expects Q1 hit from MAX troubles
The airline backs intensified oversight from the FAA.
- The company said it will support oversight from the Federal Aviation Administration after a near-catastrophic Alaska Airlines incident
- The Federal Aviation Administration grounded more than 170 MAX 9 planes for about three weeks. after the Alaska Airlines emergency