Flynas posts 2025 loss despite revenue growth, Q4 profit rebound
Saudi Arabia’s low-cost carrier flynas posted a net loss of SAR 527 million in 2025, compared with a net profit...
Business
Business
Central Bank of Bahrain Sukuk Al Ijara oversubscribed by 186 percent
Manama, Bahrain--The Central Bank of Bahrain (CBB) announces that the monthly issue of the short-term Islamic leasing bonds, Sukuk Al...
- As per reports, subscriptions worth $128.67 million were received for the $69.14 million issue, which carries maturity of 182 days
- The expected return on the issue, which begins on April 4 and matures on October 3, is 5.90%, equivalent to the previous issue
Business
Tesla reports drop in auto sales
The decline was in part due to a weak sales market in China.
- In explaining the drop, Tesla pointed to a hit from the production ramp-up of an updated Model 3 at its California factory and plant shutdowns due to shipping diversions
- Financial services firm Morningstar said the decline also "points to a slowdown in demand for Tesla's vehicles, as the company's competitors may have cut price more than Tesla
Business
FAB, Microsoft forge partnership
The two will work to develop AI-based banking capabilities.
- The new AI Innovation Hub will focus on innovation, sustainability, and customer experience
- It will accelerate the adoption of new innovations and AI technology into financial services
Google to delete incognito search data
The suit filed in June of 2020 sought US$5bn in damages.
- The lawsuit, filed in a California court in June 2020, claimed Google's practices had infringed on users' privacy by intentionally deceiving them with the incognito option
- The settlement calls for no cash damages to be paid but leaves an option for Chrome users who feel they were wronged to sue Google separately to get money
Business
ADQ launches new firm in healthcare sector
Arcera will aim to improve the quality of "human life."
- It will seek to build a global life sciences powerhouse set to make significant contributions to realizing Abu Dhabi’s 2030 Healthcare Life Sciences Vision
- With a workforce of over 6,500 people in 90 countries all over the world, Arcera aims to offer groundbreaking solutions that foster longer and healthier lives
Economy
Gross written premium rises by 12.7% in Q4 2023 to US$14bn, says CBUAE
ABU DHABI, UAE - The UAE insurance sector continued to grow in Q4 2023, as reflected by the increase in...
- The number of licenced insurance companies in the UAE remained at 60, the CBUAE announced in its quarterly economic report.
- The insurance of persons and fund accumulation premiums decreased by 12.4 percent YoY.
Business
New shipping service in Saudi Arabia launched
RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) has announced the addition of the new shipping service 'NRS' by...
- The NRS shipping service will link Jeddah Islamic Port to Yanbu Commercial Port, Neom Port, Aqaba Port in Jordan, and Sokhna Port in Egypt.
- This will further establish the Kingdom's position as a global logistics hub that bridges three continents,
Business
Liberty Media buy MotoGP
Formula One owners paid US$4.5 billion for the deal.
- The acquisition is expected to be completed by the end of 2024 subject to clearances and approvals.
- MotoGP said Liberty Media would acquire "approximately 86 percent" stake from Spain-based owners Dorna.
Economy
Debt, trade barriers drag Asian economies in 2024, says World Bank report   Â
BANGKOK, THAILAND – Asian economies are not doing as well as they could and growth in the region is forecast...
- Asian economies are not doing as well as they could and growth in the region is forecast to slow to 4.5 percent this year from 5.1 percent in 2023.
- A key risk is that the US Federal Reserve and other major central banks might keep interest rates higher than before the pandemic.
Business
Expo Centre Sharjah gives peek into its plan to attract new exhibitors
Sharjah, UAE--Expo Centre Sharjah (ECS) has unveiled its future projects and forthcoming initiatives to develop and enhance the exhibitions sector...
- The ECS intends to expand its operational capacities, augment exhibition areas and venues thereby enticing a broader spectrum of international exhibitors
- The plan was outlined in a meeting of the board of directors designed to meet the business community's aspirations, by providing premier platforms for showcasing products
Flynas posts 2025 loss despite revenue growth, Q4 profit rebound
Saudi Arabia’s low-cost carrier flynas posted a net loss of SAR 527 million in 2025, compared with a net profit...
Business
Company News
Latest News
DeepSeek sparks AI stock selloff
Global investors dumped tech stocks following the emergence of a low-cost Chinese AI assistant startup DeepSeek that would threaten Nvidia....
Hong Kong’s property distress hurting banks
Distressed property sales in Hong Kong are beginning to bite banks with average prices of office buildings, shopping malls and...
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Business
Public-Private collaboration is crucial to tackling physical inactivity crisis: WFSGI CEO Emma Zwiebler
Emma Zwiebler, CEO of the World Federation of the Sporting Goods Industry (WFSGI), sat down exclusively with TRENDS at the...
- In many regions, over 80% of youth aren’t getting enough exercise, and it’s affecting their future health, says Zwiebler
- Technology and sedentary lifestyles are driving a worrying trend in inactivity, especially among youth, she adds
Interview
Davos25: Qatar, Saudi, UAE to lead GCC transformation, says Cytomate COO
DAVOS, Switzerland -- Bilel Al Souaied is an entrepreneur and venture capitalist. He is the COO of Cytomate, a leading...
- Since the discovery of hydrocarbons, GCC has been experiencing several economic models. Some of them proved to be working, some not.
- "We do have one of the most advanced educational ecosystems. Qatar is leading the way in terms of that," Bilel said.
World Economic Forum
Davos25: Kyrgyzstan beckons with lax tax regime, says CEO of country’s tech hub
Davos, Switzerland -- Aziz Abakirov, the CEO of the High Technology Park of the Kyrgyz Republic, represents a unique initiative...
- Companies in Kyrgyzstan High Technology Park enjoy 1% tax on turnover and zero tax on certain activities, including crypto.
- Our main focus is to attract partners who value skilled talent and are looking to collaborate with us, Abakirov said.