Boeing to cut 10% of workforce
The company has projected a large third-quarter loss.
Waldorf Astoria to open in Madinah by 2028
With more than 300 luxury rooms, three dining concepts, and various facilities, the hotel will merge global luxury with Madinah’s...
Business
Business
Cryptocurrency Ether witnesses meteoric rise since launch
NEW YORK, US – Bitcoin has captured the limelight in recent weeks as it surged to a new record high, yet...
- Launched in 2015, Ether is by far the second-largest digital currency in terms of total value, now estimated at over $460 billion.
- Bitcoin's rise has been well-documented, but Ether's has been even more impressive, surging almost 72 percent year to date.
Market Report
Non-Jordanian investors own 47% of ASE market value as of February 2024
AMMAN, JORDAN – Data released by the Amman Stock Exchange reveals that non-Jordanian investors bought shares worth US$12.5 million (JD8.9...
- From the beginning of 2024 till end of February, non-Jordanian investments in the stock exchange totaled $21.8 million in purchases.
- The contribution of Arab investors in the non-Jordanian group accounted for US$11.7 million or 93.6 percent in February.
Business
Doctors play key role in enhancing healthcare system
“Emirati doctors play a key role in enhancing the healthcare system and promoting health and wellness throughout society. We look...
- UAE Minister of Health highlights the contributions of Emirati doctors on Emirati Doctor's Day.
- Abdul Rahman bin Mohammad bin Nasser Al Owais praises doctors for their dedication and excellence.
Business
Aramco profit down in 2023
The oil giant posted a 24.7% fall in net profit to US$121.25bn.
- Aramco said the decline reflects the impact of lower crude oil prices and lower volumes sold
- Saudi Arabia said last week it was extending its oil supply cuts of one million bpd through June
Business
Lufthansa cabin crews to go on strike
The announcement came after the airline's record profits.
- The strike will cover flights out of Frankfurt on Tuesday and from Munich on Wednesday, with Lufthansa's subsidiary CityLine also affected
- The latest walkout began last Thursday, with Lufthansa ground staff staging a nationwide two-day strike after a previous walkout in February
Business
Ooredoo partners with Dropbox
It will enable customers to access Dropbox's tools.
- The partnership will enable business customers across Ooredoo’s markets to access Dropbox’s fast, secure, and reliable syncing and collaboration software
- Ooredoo CEO said the partnership with Dropbox underlines the company's commitment to deliver comprehensive digital solutions for their business customers
Business
GCC records surge in women’s workforce participation
Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS...
- Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS report suggests.
- This journey from traditional roles to transformative leadership signifies a key moment in GCC's history, setting a global benchmark for gender parity and inclusivity.
Business
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
- During the first two months of 2024, India, the US, Saudi Arabia and Iraq accounted for the majority of ACI’s exports.
- The chamber's exports to the US surged during the first two months of 2024 to about US$297 million compared to US$275 million.
Business
Doha Bank bond issue oversubscribed four times
Doha, Qatar - Doha Bank has successfully issued $500 million in international bonds, garnering a total order book of $2...
- The achievement follows an extensive marketing campaign by Doha Bank's management, engaging with investors globally to present the bank's objectives and performance overview
- The positive response from investors reflects confidence in Doha Bank's future prospects and the robust fundamentals of the Qatari economy
Business
Stable credit conditions make GCC firms resilient
Gulf companies benefit from supportive credit environments, ensuring resilience in 2024 despite global economic challenges and geopolitical risks, says a...
- Gulf companies benefit from supportive credit environments, ensuring resilience in 2024 despite global economic challenges and geopolitical risks, says a report.
- GCC entities are poised to handle higher refinancing and interest costs through improved performance and non-oil growth, maintaining stable debt levels, it adds.
Boeing to cut 10% of workforce
The company has projected a large third-quarter loss.
Company News
CBI, zypl.ai ink partnership
Business
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RAKBANK, DP World sign pact
Business
Apple’s latest iPad signals the company’s AI-powered future
San Francisco, United States - Apple on Tuesday announced a line of new iPad tablets revamped with a powerful AI chip...
Business
NEOM, Saudi Red Sea Authority to partner in marine tourism
NEOM, Saudi Arabia -- Saudi Red Sea Authority (SRSA) has signed a memorandum of understanding (MoU) with NEOM to collaborate...
Business
Gaza truce talks resume in Egypt, without Israel for now
Mediators from Qatar, Egypt and the United States have been waiting for Hamas to respond to a proposal that, according...
Business
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Business
As ‘news deserts’ spread, US journalism fights on
Baltimore, United States - Baltimore Banner reporter Matti Gellman is first to leap in with questions during a recent press appearance...
- For more than two decades, since the internet upended the advertising and print model on which newspapers had been based, the industry has been in crisis
- Nearly half of US counties have just one news source, the report said, often a weekly newspaper. And 228 are on a so-called "watch list" at high risk of losing even that
Business
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...
- New players are emerging, offering advanced digital solutions that boost shareholder returns and revolutionize customer experiences
- Siloed thinking, a failure to integrate new technologies with existing operational models, and an overreliance on traditional lean manufacturing methods can hinder progress
‘Dubai, Abu Dhabi, Riyadh, Bahrain have reinforced position as top GCC tourist spots’
GCC region is a hidden gem, offering a distinct blend of Arabic culture and history, Fahim Jalalli, CEO of Kanoo...
- What began with Emirates and Dubai has expanded to include Abu Dhabi, Qatar, Bahrain, and Saudi Arabia, says Fahim Jalalli, CEO of Kanoo Travel
- The region hosts numerous trade shows, conferences, and exhibitions, and have so many hotels that are capable of accommodating tens of thousands of attendees, he adds