Turkish Airlines inks big Boeing deal after Erdogan visits US
Istanbul, Turkey -- Turkish Airlines announced on Friday a deal to buy up to 225 Boeing jets, one day after...
Business
Americans would dominate board of new TikTok US entity: W.House
A deal for the Chinese parent company of popular video-sharing app TikTok to sell its US operations would see the...
Business
SAIB profit jumps 17% in 2023
Business
WEF24: The story of Africa is being reclaimed
World Economic Forum
Business
Cage fight with Zuckerberg will be in Italy, says Musk
WASHINGTON, US - Elon Musk said that his much-hyped cage fight with Mark Zuckerberg would take place in Italy, as authorities...
- Musk said on his X social media platform - formerly known as Twitter - that arrangements were advancing.
- Meta chief Zuckerberg responded on his Threads social network, posting a photo of himself shirtless and pinning down an opponent.
Business
EDGE signs agreement with Turbomachine to jointly build engines
Abu Dhabi, UAE--EDGE has signed an agreement with Turbomachine to work together on the development of engines, including turbofan and...
- The agreement will enable both to work together on the development of engines, including turbofan and propellant fan
- The Brazilian company specialises in research, innovation, and engineering and development of gas turbine engines
Geostrategy
US to invest $1.2 bn on facilities to pull carbon from air
The two projects -- in Texas and Louisiana -- each aim to eliminate one million tons of carbon dioxide per...
- Direct Air Capture (DAC) techniques focus on that CO2 emitted into the air, which is helping to fuel climate change and extreme weather.
- Each of the projects will remove 250 times more CO2 from the air than the largest carbon capture site currently in operation, the Energy Department said.
Arts & Culture
Riyadh to host Peace and Sport Middle East Forum in Oct
Riyadh, Saudi Arabia -- For the first time, Riyadh will host the Peace and Sport Middle East Forum, powered by...
- The forum will be held under the theme, “Sport is an answer for peace”, at the Cultural Palace in Riyadh-based Diplomatic Quarter
- The kingdom will be hosting several big sporting events as it aims to attract foreign interest as it diversifies its economy away from oil
Economy
Brazilian striker Firmino scores hat-trick on Saudi debut
Jeddah, Saudi Arabia--Brazilian forward and former Liverpool star Roberto Firmino hit a hat-trick on his Saudi Pro League debut on Friday...
- The Brazilian striker scored the goals in the 6th, 10th and 72nd minutes for the team who also fielded several new signings
- Saudi Pro League backed by the kingdom's sovereign wealth fund has lured big names from the major European leagues
Business
Saudi League to be broadcast on Fox Sports in USA
The American network will launch the deal with broadcasts of two games on Monday featuring Ronaldo and Karim Benzema. Fox's...
- Ronaldo's arrival in the kingdom has sparked off big money acquisitions and the league will reach fans across the US
- Clubs across Saudi Arabia have deployed their huge budgets to win over football stars like French striker Benzema
Economy
Kazakhstan keen to bolster joint investments with UAE: Razdykovich
The Kazakh minister said his country hopes to benefit from the UAE's experience in tourism and development sectors as he...
- The minister evinced his country's keenness to shore up cooperation with the UAE, particularly in sectors seen as crucial by both countries
- He pledged to support Emirati investors in order to boost areas of cooperation, reaffirming that Abu Dhabi will "always be an important partner for us"
Business
Dubai records 2.6bn in weekly real estate transactions
Dubai, UAE - A total of 3,103 real estate and properties transactions valued at approximately $2.64 billion in total were...
- The weekly DLD report noted that 235 plots were sold for about $609 million, 2,302 apartments and villas were sold for approximately $1.57 billion
- Madinat Hind 4 recorded the most transactions for this week, with 72 sales transactions worth roughly $28.17 million
Business
ADX profits vault to $11.70bn
It posted gains in one week on the back of company results.
- The value of stocks on the bourse increased to $781 billion at the end of Friday's session as against $770 billion at the close of last Friday
- Over the week, the equities market saw an inflow of liquidity exceeding $2.34 billion, split between $1.81bn in ADX and $539m in the DFM
Business
Stock markets drop over fears of more interest-rate hikes
In Asian stock market trading, Hong Kong extended the week's losses Friday, even as e-commerce titan Alibaba surged on a...
- Official data Thursday that showed US inflation rising less than expected in July failed to stop bets on the Federal Reserve raising borrowing costs
- Across the Atlantic, better-than-expected UK growth data Friday increased the likelihood of more BoE tightening, boosting the pound
Turkish Airlines inks big Boeing deal after Erdogan visits US
Istanbul, Turkey -- Turkish Airlines announced on Friday a deal to buy up to 225 Boeing jets, one day after...
Business
Company News
Latest News
SAIB profit jumps 17% in 2023
Business
Over 70% report revenue surge in UAE from digital payments, Visa finds
Dubai, UAE - More than 70% of surveyed retailers in the UAE have experienced increased revenue and higher customer footfall since...
Business
Most Read
Opinion
Cyber insurance shapes the future of cybersecurity
Cyber insurance, particularly around ransomware, is moving towards a world where insured businesses have strong cyber resilience, well-defined disaster recovery...
- Rising cyber-attack and ransomware effectiveness boosts demand for cyber insurance, leading to increased premiums and stricter coverage rules amid impact on businesses.
- Business risks have evolved from physical to digital, propelling cyber insurance toward a predicted $84.62 billion industry by 2030, highlighting the sector's rapid growth.
Business
UAE records more than 25% growth in international card spending in 2023
Dubai, UAE--Total spending using international cards in the UAE witnessed a growth of more than 25% during the year 2023....
- Transactions via cards and digital payment solutions in the Middle East and North Africa surged by 20% in value and over 50% in volume
- A study found that Middle Eastern consumers are increasingly prioritising sustainability, with 9 out of 10 adults willing to take action
Business
Parkin to give more shares to retail investors in its IPO
Dubai, UAE - Parkin Company on Tuesday announced an increase in the number of shares offered in the UAE Retail...
- The UAE Retail Offer has been increased to 89,964,000 ordinary shares from 74,970,000 ordinary shares
- Parkin is expected to commence trading on the DFM on March 21, 2024, under the symbol “PARKIN”