Inditex posts record net profit
Inditex, the world's biggest fashion retailer, is owned by Zara.
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...
Opinion
Business
Only one of its kind wooden Citroen 2CV sells for $225,000
Carpenter Michel Robillard crafted the wooden 2CV's wings out of walnut and its chassis from pear and apple tree wood,...
- The previous high for a 2CV was set in 2016, when an extremely rare 1961 2CV Sahara in almost mint condition was sold for 172,800 euros by Paris-based auction house Artcurial.
- Robillard's model is equipped with an original engine from Citroen's later 3CV model, giving it the extra power needed to propel the naturally heavier wooden structure.
Geostrategy
US, India agree on defense industry cooperation plan
The United States and India agreed a roadmap for military industrial cooperation, as New Delhi seeks to reduce its reliance...
- Moscow and New Delhi have been allies for decades, with Russia by far India's biggest arms supplier.
- India is looking to diversify, both by broadening its sources of imports and ramping up domestic production.
Business
Airlines to fly 4.35bn passengers this year, says industry group
ISTANBUL, TURKEY - Airlines will fly 4.35 billion passengers this year, close to the 2019 record as the industry bounces back...
- The sector will also be back in the green, with net profits forecast to reach $9.8 billion in 2023.
- The association said that its 2022 losses were half as bad as previously estimated at US$3.6 billion.
Business
Oman looks to entice investors at Dhahran Expo to its fishing industry
Muscat, Oman-- Looking to entice investors to the country's fisheries sector, Fisheries Development Oman (FDO) is taking part in Saudi...
- The Omani delegation to the event will showcase investment prospect in the country in areas such as aquaculture, commercial fishing, management of fishing posts
- FDO was set up to develop the fisheries industry in the country by investing in profitable projects that could highlight its economic value to investor
Economy
SEWA concludes extension of ‘crucial’ pipeline to supply fresh water
Sharjah, UAE-- In order to supply water from Al Zubair station to Al Shanouf suburb, Sharjah Electricity Water and Gas...
- Started in July 2022, SEWA employed environmentally-friendly materials to ensure water quality, while catering to the growing demand for freshwater
- Residents in Mahdub, Hadibah, and the new sections of Al Shanouf suburb will now have a sustainable supply of fresh and pure water
Economy
Saudi Arabia’s Al Hilal to sign football star Messi in mega-deal
Al Hilal football club officials are in Paris to seal a mega-deal with Lionel Messi, who is leaving Qatar-owned Paris-Saint...
- According to Saudi media reports, French striker Karim Benzema, who is departing Real Madrid, has signed with Jeddah-based Al-Ittihad
- The kingdom, the world's biggest oil exporter, has poured hundreds of million into sports deals including Ronald's signing and Formula One
Business
AD Ports signs deal with Crystal Offshore to develop repair facilities
Abu Dhabi, UAE--AD Ports Group has signed a 25-year agreement with the Singapore-based company Crystal Offshore, a recognised one-stop logistics...
- As per the deal, Crystal Offshore will construct a base, featuring office facilities and fabrication workshops to provide advanced repairs and refits to jack-up rigs
- According to AD Ports Group, the partnership will add significant value to Khalifa Port's customers and furthermore will expand the many services it offers
Opec+ to extend cuts in oil output into 2024 as prices flag
Vienna, Austria – OPEC+ has decided to adjust the level of overall crude oil production to 40.46 mb/d, starting 1...
- The United Arab Emirates will extend its voluntary cut of 144 thousand barrels per day until the end of December 2024
- Opec+ pumps around 40 per cent of the world’s crude, meaning its policy decisions can have a major impact on oil prices
Economy
UAE’s FTA launches ‘platform’ to educate taxpayers on corporate tax
Abu Dhabi, UAE--The Federal Tax Authority (FTA) has launched what it dubs as a ‘Corporate Tax Virtual Workshops’ awareness platform,...
- The platform will feature educational materials, including 13 virtual awareness workshops in both Arabic and English about ‘registration for corporate tax’
- The FTA has appealed to both private and public joint stock companies resident in the UAE to participate in the awareness workshops
Investigation
Are ‘unethical’ PR tactics harming GCC journalism?
TRENDS investigation uncovers Media-Public Relations Nexus as PR companies in the region are found crossing ethical boundaries to secure favorable...
- TRENDS investigation reveals questionable practices by public relations companies in the Middle East that contribute to the decline in critical reportage in the region
- Journalists disclose inducements from PR firms to secure favorable coverage for their clients; accuse them of blurring lines between editorial and sales, leading to ethical issues
Inditex posts record net profit
Inditex, the world's biggest fashion retailer, is owned by Zara.
Company News
Latest News
UAE creates ‘Parkin’ to oversee parking space operations in Dubai
Dubai, UAE - The UAE has issued a law establishing ‘Parkin’, a public joint stock company (PJSC) that will oversee...
Business
Most owners holding on to Burj Khalifa homes longer: Report
Dubai, UAE -- The total number of homes available for sale in Dubai’s Burj Khalifa declined by 52 percent during...
Business
ROSHN recognized as best place to work in Saudi Arabia for 2023
Riyadh, Saudi Arabia -- ROSHN Group has been recently recognized as "The Best Place to Work in Saudi Arabia" for...
Most Read
BYD overtakes Tesla in EV sales
Tesla's stock slipped after the news was announced.
- Despite losing its quarterly sales crown, Tesla was still top on an annual basis, delivering more than 1.8 million EVs to customers in the year to December
- "Tesla sales is likely to be boosted by the introduction of its "long-promised mass market EV model later this year," says Garrett Nelson, an equity analyst at CFRA Research
Business
Qatari exports to clients surge in 2023 to US$412m: Tasdeer
Doha, Qatar--The Qatar Development Bank's Export Development and Promotion Agency (Tasdeer), a subsidiary of the Qatar Development Bank, announced an...
- According to the agency, some 260 Qatari exporters and 130 companies took part in eight international exhibitions during the past year
- The trade missions undertaken by Qatari companies to Iraq and India generated deals worth approximately $57.41m and $31.31m respectively
Business
‘AD Ports redefines future of maritime and logistics’
"Our achievements demonstrate that traditional approaches no longer suffice in the rapidly evolving global market. We have embraced change, not...
- In 2023, AD Ports Group achieved a 116% revenue surge and expanded globally, notably through the strategic acquisition of Noatum, enhancing its global market presence.
- The group's expansion into African markets with a 30-year concession in Congo and a US$2 billion corporate facility agreement underscore its strong financial standing.