Maldives and Eagle Hills sign terms for $12 billion waterfront destination
The project, known as Maldives Waterfront and Marina, is planned as an integrated tourism and residential destination combining hotels and...
Business
UAE non-oil trade with BRICS countries reaches $312 billion, says minister of foreign trade
Dr. Thani bin Ahmed Al Zeyoudi said trade with BRICS countries grew 28.5 percent in 2025 from the previous year,...
Business
Business
UK publisher of Daily Express, Mirror tabloids announces job cuts
London, United Kingdom - The British media group which owns the Daily Express and Daily Mirror tabloids on Monday announced...
- While 135 jobs would be created focusing on live news and video, 321 posts would be axed, the British news giant told AFP via email
- "The changes we are seeing in the landscape right now demand a wholesale change in how we operate and how we tell stories," said Higgerson
Business
ADCB to raise $1.66bn
The rights issue aimed at boosting growth.
- The rights issue will increase ADCB's issued capital from AED 7.32 billion to AED 7.91 billion by issuing up to 592.2 million new shares.
- The new shares will be priced at AED 10.3 each, a 30% discount to ADCB’s closing share price on September 4, 2025.
Business
EGA H1 revenue $4.11bn
Net profit before GAC $445 million.
- The company's primary hot metal production remained steady at 1.34 million tons.
- EGA sold 1.37 million tons of cast metal to over 400 customers in more than 50 countries, up from 1.31 million tons in H1 2024.
Business
Tesla proposes package for Musk that could top $1 trillion
New York, United States -- Tesla unveiled on Friday a proposed compensation package for Elon Musk that could top $1...
- The plan potentially provides Musk -- already the world's wealthiest person -- with up to 12 percent of additional total company shares.
- Tesla's current market capitalization is just over $1 trillion, down somewhat from its peak following recent weak earnings.
Business
EU hits Google with $3.47 billion fine despite Trump threats
Brussels, Belgium -- The EU slapped Google with a massive 2.95 billion euro ($3.47 billion) antitrust fine for favoring its...
- Google immediately vowed to appeal the decision by the European Commission, which accused the US firm of distorting competition in the 27-nation bloc.
- The fine comes despite threats by Trump to go after Europe for regulations seeking to rein in US tech giants.
Business
Amazon’s Starlink rival lands first major airline deal
Washington, United States -- JetBlue Airways will become the first airline to use Amazon's Project Kuiper satellite network to power...
- The partnership will see JetBlue implement Project Kuiper's low orbit satellite technology on select aircraft beginning in 2027.
- This will enhance the US airline's existing service with faster speeds and lower latency than traditional satellite systems.
Science
Norway experiments with electric plane in real-life test
Oslo, Norway -- An electric plane took to the skies between the Norwegian airports Stavanger and Bergen on Thursday, simulating...
- The small aircraft -- an Alia built by US aircraft manufacturer Beta -- flew the 160 kilometers in a test run by the Norwegian affiliate of the transport company Bristow.
- The flight took 55 minutes and simulated a cargo flight route in southeastern Norway.
Business
Qatar ready to invest $21 bn in DR Congo: Kinshasa
Kinshasa, DR Congo -- Qatari investment firm Al Mansour Holding hopes to invest $21 billion in the Democratic Republic of...
- Group founder and royal family member Sheikh Mansour bin Jabor bin Jassim Al Thani visited the DRC capital Kinshasa on Tuesday as part of an African tour.
- The investment would be in various sectors, including agriculture, finance, mining, pharmaceuticals and hydrocarbons.
Business
Global bond selloff spreads to Japan, gold hits record high
Wall Street stocks opened mostly higher, with shares in Google parent-company Alphabet shooting up nearly seven percent after winning a...
- Yields on 30-year Japanese government bonds rose to an all-time high of 3.29 percent on Wednesday, while 20-year yields reached their highest since 1999.
- The selloff in Japanese debt mirrors widespread moves in the United States and Europe, with investors spooked over substantial piles of government debt globally.
Business
Borouge to pay $660m H1 dividend
Its net profit for H1 was $474 million.
- The company also reaffirmed its intention to pay a total dividend of 16.2 fils per share for 2025.
- Since its June 2022 IPO, Borouge shareholders have approved $4.24 billion in dividends.
Maldives and Eagle Hills sign terms for $12 billion waterfront destination
The project, known as Maldives Waterfront and Marina, is planned as an integrated tourism and residential destination combining hotels and...
Business
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PIF-backed SURJ launches venue venture radia with Live Nation, OVG
Dubai, UAE -- SURJ Sports Investment Co, owned by Saudi Arabia's Public Investment Fund (PIF), has launched a joint venture...
Business
EDGE to acquire 100% stake in Brazilian firm AKAER
Dubai, UAE -- UAE defense and advanced technology group EDGE has agreed to acquire a 100 percent stake in Brazilian...
Business
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OpenAI loses appeal against EU refusal to register its name as trademark
Dubai, UAE -- OpenAI, the owner of the ChatGPT chatbot, lost Wednesday its appeal against the EU's refusal to register...
- The US firm had sought to overturn a decision by the European Union Intellectual Property Office (EUIPO) that accepted protecting OpenAI's logo but not the name.
- EUIPO had ruled that the combination of the two common words in English, "open" and "AI", could describe many business activities in the area of artificial intelligence.
Business
Youth account for over 30 percent of EWEC workforce, utility says
Dubai, UAE -- Abu Dhabi's Emirates Water and Electricity Company (EWEC) said young professionals now make up more than 30...
- Utility expands graduate, AI and leadership training to build skills for UAE's energy transition.
- EWEC said its two-year graduate development programme includes departmental rotations, technical training and mentoring.
Business
Sharjah real estate transactions rise 9.3 percent to AED29.5 billion in H1
Dubai, UAE -- Sharjah's real estate transactions rose 9.3 percent year on year to about AED29.5 billion ($8.03 billion) in...
- The Sharjah Real Estate Registration Department said it completed 59,460 transactions during the six-month period, up 23.7 percent from a year earlier.
- Sales transactions totalled 16,426 across 202 areas, covering 85 million square feet, a 4.7 percent increase from the first half of 2025.