Reforms help Saudi banking sector post robust growth
The financial sector plays vital role in the Kingdom's economy, with a 9.5% surge in operating income and 10.9% increase...
Business
Russia not in danger of trading oil at a loss, says Lavrov
MOSCOW, RUSSIA – Russia does not see the risk of trading oil at a loss due to the redistribution of...
Business
Business
QIIB profit climbs 7.7 percent
Its net profit for H1 of 2023 jumped to US$169 million.
- The bank's earnings per share (EPS) amounted to QR 0.41 as of June 30, 2023 versus EPS QR 0.38 for the same period in 2022.
- Chairman of QIIB's board of directors said that the results posted by the bank are in harmony with the strength of the Qatari economy
Economy
Qatar Free Zones Authority, Qatar Development Bank to support foreign investors
Doha, Qatar-- The Qatar Free Zones Authority has joined hands with Qatar Development Bank to support foreign investors and firms...
- The agreement will enable both to widen the areas of cooperation to serve companies investing in free zones, allowing them to use a variety of services
- The partnership is expected to create a suitable investment climate in Qatar and at the same time provide support to investors to achieve growth in businesses
Business
KEZAD Group, Al Jazeera Steel Products to establish $68m rolling steel mill
Abu Dhabi, UAE - Khalifa Economic Zones Abu Dhabi or KEZAD Group, and Al Jazeera Steel Products Co, held the...
- The establishment of the mill over an area of 210,000 square metres in KEZAD aims to enhance steel manufacturing capabilities
- The 450,000 tonnes per annum medium section mill will answer the growing customer demand for its products
Business
Sharjah Sustainable City sales surge
The sales in H1 of 2023 climbed on the back of high demand.
- The sales were seen to be driven by a deep understanding of the UAE real estate market, offering residents a unique and exclusive experience
- Sharjah Sustainable City offers the best of both worlds to customers with unique designs, spacious layouts, and cutting-edge smart home technologies
Business
General Motors Q2 profits up
Revenues were recorded at $44.7 billion, up 25 percent.
- General Motors (GM) reported profits of $2.6 billion, up 52 percent from the year-ago level.
- GM scored higher deliveries compared with the year-ago period in both North America and China.
Business
Aldar to redevelop two malls
The plan is part of AED 1bn revitalization project.
- The first phase of the project will focus on enhancing the customer experience and solidifying Al Jimi Mall's position as the go-to shopping hub for both residents and visitors.
- The redevelopment plan seeks to increase the Gross Leasable Area (GLA) by a significant 20 percent, expanding it to 91,000 square meters.
Business
Sharjah posts $149 million in first half realty transactions
Sharjah, UAE -- Sharjah real estate sector recorded deals worth AED549.4 million ($149.5 million) for the first half of 2023,...
- The transactions were facilitated through the department's branches located in the Central region and the cities of Khorfakkan, Dibba Al-Hisn, and Kalba.
- The cash trading volume in the central region accounted for AED231 million, with Khorfakkan reaching AED185.4 million.
Economy
200 digital companies participate in Dubai Chamber’s China roadshow
Dubai, China - The roadshow of Dubai Chamber of Digital Economy across five cities of China saw the participation of...
- The delegation held more than 55 business meetings in cities such as Shanghai, Shenzhen, Hainan, Jinan, and Beijing
- These meetings served to introduce Chinese companies to Dubai's thriving digital ecosystem and facilitate their potential expansion into the emirate
Unilever profit jumps on asset sale
The firm's profit after tax rose 22 percent to $3.9 billion.
- Profit after tax rose 22 percent to $3.9 billion in six months to the end of June from a year earlier, Unilever said in a statement
- British consumer goods giant Unilever said it gained 497 million euros from the sale of personal-care business Suave in North America
Business
Multiply Group Q2 2023 profit is $108m
The group's public market portfolio stands at $9.1bn.
- The profit from Multiply Group’s operating entities witnessed a surge of 33.6% in Q2 2023, compared to the same period last year
- Multiply Group is seeing more value accretive acquisition opportunities emerge globally across its operating verticals and investment arm
Reforms help Saudi banking sector post robust growth
The financial sector plays vital role in the Kingdom's economy, with a 9.5% surge in operating income and 10.9% increase...
Business
Company News
Latest News
Google CEO says more layoffs are likely this year
SAN FRANCISCO, US - Google CEO Sundar Pichai has warned employees that more layoffs are in store at the search engine...
Business
Qatar’s IPI declines by 1.5 percent in November 2023
DOHA, QATAR – The Industrial Production index (IPI) of Qatar in November 2023 reached 91.7 points which is a fall...
Economy
EDGE Group, São Paulo government partner on public security initiative
Abu Dhabi, UAE -- EDGE, one of the world’s leading advanced technology and defense groups, has announced that it will...
Business
Most Read
Europe new car sales rebound in 2023: industry group
Automakers are facing a 2035 deadline set by the European Union to phase out sales of new combustion engine vehicles....
- Sales of new electric cars shot up by 37 percent year-on-year and accounted for 14.6 percent of those overall, European Automobile Manufacturers' Association said
- Figures marked a stark turnabout from those of 2022, when new vehicle registrations dropped to their lowest levels since 1993 as component shortages hindered automakers
Samsung’s AI pivot
Part of the company's bid to reclaim smartphone throne.
- Mobile devices will become the primary access points for AI, with Samsung aiming to be a leader on that path, Samsung president T.M. Roh said
- The premium S24 Ultra unveiled at an event was said to have the capability to translate foreign language phone calls and texts while they were taking place
Business
Bayer to cut jobs in Germany
The slashing of jobs follows huge third-quarter losses.
- According to a company press release, the job cuts will be enforced immediately and completed by the end of 2025
- The pharmaceutical giant, the makes Aspirin, employs around 22,000 in Germany and more than 100,000 worldwide