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...
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...
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
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...
Business
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Iraq economy likely to grow this year, says IMF
BAGHDAD, IRAQ – Economic growth of the country is projected to continue amid fiscal expansion, an International Monetary Fund (IMF)...
Business
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Business
Dubai’s real estate soars with notable market growth
The emirate's residential market witnesses an 18% sales surge and a 26% rental increase due to investor confidence and a...
- The emirate's residential market witnesses an 18% sales surge and a 26% rental increase due to investor confidence and a preference for larger homes.
- The city's office market thrives, with rents surpassing pre-pandemic levels, reinforcing its role as a strategic regional hub for global corporations.
Business
Apple’s changes contradicts European rules, 34 firms complain
Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...
- Companies have expressed doubts about how much Apple's changes would ultimately broaden consumer choice and digital competition.
- Apple in January announced it was modifying how its iOS operating system, Safari browser and App Store operate in the 27-nation EU.
Business
Total value of Saudi Arabia’s export of dates reaches US$389m in 2023
RIYADH, SAUDI ARABIA - According to data released by the National Center for Palms and Dates (NCPD), the value of...
- By the end of 2023, the number of countries importing Saudi Arabian dates had reached 119.
- The total value of date and date-byproduct exports increased by 152.5 percent since 2016.