Global passenger demand grows 4% in July: IATA
GENEVA, 31st August 2025 (WAM) -- The International Air Transport Association (IATA) said Sunday that global passenger demand grew by...
Business
Labubu fans flock to stores after launch of mini dolls
Beijing, China -- A dozen furry dolls strung together on a metal chain dangled from Labubu fan Maki Li's neck...
Business
Geostrategy
Ukraine grain deal failed to achieve objective, says Putin
Russian President Vladimir Putin said the main objective of the deal that allowed Ukrainian grain exports to resume was not...
- A memorandum on unhindered Russian food and fertilizer exports had been signed in parallel to the grain deal.
- "The main goal of the deal, namely the supply of grain to countries in need, including on the African continent, has not been implemented," Putin said.
Business
ADNOC in talks with OMV
Talk merger of shareholdings in Borouge, Borealis.
- Borouge is listed on the ADX with 54 percent owned by ADNOC.
- Borealis is owned 75 percent by OMV with ADNOC holding 25 percent.
Business
60 percent of Jordan’s consumption contains plastic, rubber, says JCI
AMMAN, JORDAN - Plastic and rubber products cover 59.7 percent of the Kingdom's domestic consumption, a report by the Jordan...
- The report indicated that plastic and rubber products are well-established industries in Jordan.
- According to the report, the sector has 641 establishments geographically spread across the Kingdom.
Business
ADX grew 20 percent in 2022, says CBUAE
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE)’s Financial Stability Report for 2022 said the FTSE ADX...
- The Abu Dhabi Securities Exchange (ADX) trading value increased by 21.9 percent to AED 451 billion ($122.78bn)
- Foreign investment in ADX increased, with total net foreign investments recording an inflow of AED 24 billion ($6.53bn) in 2022
Business
UAE-India trade rose to US$384bn in 2013-22
ABU DHABI, UAE - The significant growth in the volume of non-oil trade between the UAE and India signifies the...
- CEPA will help deliver the target of reaching US$100 billion in non-oil trade annually over the next five years.
- During 2020-2022, non-oil trade between the UAE and India has grown from US$27.9 billion to US$51.4 billion last year.
Business
Saudi Arabia’s robotics commercial records rise by 52% in Q2
Riyadh, UAE - Commercial registrations in Saudi provinces for the robot technologies sector increased by 52 percent by the end...
- According to the Ministry of Commerce's recent business sector bulletin, Riyadh City topped Saudi provinces in the issuance of commercial registrations for the sector
- Robotics is one of the Kingdom’s promising sectors and is among the opportunities listed by Saudi Arabia’s Vision 2030 for the business sector
Business
Saudi Arabia sails towards ambitious maritime goals
"The noteworthy achievements include substantial developments in logistics services, fostering a closer relationship with the International Maritime Organization, and supporting...
- Saudi Arabia has made remarkable strides in the maritime sector, says Saudi Ambassador to the UK, Prince Khalid bin Bandar bin Sultan bin Abdulaziz
- The strides include significant developments in logistics services, collaboration with International Maritime Organization, and marine environmental conservation
Business
US banks express caution on economy as Fed rate hikes boost earnings
Results of large US banks released underscored the boon from higher interest rates, as executives described the world's biggest economy...
- JPMorgan and Wells Fargo both reported huge increases in second-quarter profits.
- Citi experienced a drop, citing an anemic investment banking market for revenue drop.
Business
Cryptocurrencies rise in value after United States SEC court loss
The increases came after a federal judge in Manhattan partially dismissed the SEC's case against the creators of the XRP...
- In a second day of gains, Ethereum was up 5.69 percent in the past 24 hours and Elon Musk-supported Dogecoin was up more than 7 percent.
- Bitcoin, the main asset in the crypto space, was up 2.3 percent over the past 24 hours. Coinbase gained nearly 25 percent.
Economy
UAE banking sector is resilient, says CBUAE in its report
ABU DHABI, UAE - The Central Bank of the UAE (CBUAE) on Friday issued its Financial Stability Report for 2022....
- The report discusses global, local macroeconomic conditions, domestic asset markets and provides a detailed assessment of the UAE banking system.
- The report also contains an analysis of other important developments across the UAE financial sector such as digitalization and sustainability.
Global passenger demand grows 4% in July: IATA
GENEVA, 31st August 2025 (WAM) -- The International Air Transport Association (IATA) said Sunday that global passenger demand grew by...
Business
Company News
ASML profit soars to US$8.5bn
Business
Latest News
Iran becomes world’s ninth biggest steel producer, says WSA
TEHRAN, IRAN – The Middle Eastern country has improved its global standing in steel production, becoming the ninth largest producer...
Economy
Chevron $53bn Hess deal in danger
Rivals' challenge to the control of a key oil asset can derail the acquisition.
Business
UAE announces US$2,722 penalty for late corporate tax registration
ABU DHABI, UAE – The Ministry of Finance on Tuesday announced the issuance of Cabinet Decision No. 10 of 2024...
Business
Most Read
Business
AI entity is Board Observer in IHC
IHC is a pioneer in leveraging AI for decision-making.
- Aiden Insight is a virtual entity endowed with sophisticated AI capabilities, and is set to revolutionise the way IHC handles the global investment landscape.
- This initiative by IHC is powered by AI capabilities of G42 in collaboration with Microsoft, setting a new benchmark for artificial intelligence development.
Business
Rat on a plane sparks worries for Sri Lanka’s airline
Colombo, Sri Lanka - Sri Lanka's national airline on Tuesday blamed a rat for grounding a plane for three days, sparking...
- The stowaway rodent was spotted enjoying the SriLankan Airlines Airbus A330 flight from the Pakistani city of Lahore on Thursday
- An airline official said the plane has now resumed flights, but that the grounding had a knock-on effect on the entire schedule
Business
Multiply Group acquires Backlite Media
The buyout is part of its plan to boost media business.
- The acquisition seamlessly complements the group’s existing portfolio, which includes Media 247 and Viola Communications
- BackLite Media, a premier advertising company, has assets in landmark locations in the UAE with revenues of $63.17m in 2023