Walking sharks, bombing crocodiles: Italian Brainrot memes only kids know
Shouty, crude and often nonsensical Italian voiceovers feature in many of the clips made by people in various countries that...
Arts & Culture
Electric ‘air taxis’ could debut in Japan from 2027
Tokyo, Japan -- Airline ANA said Thursday that, together with a US start-up, it hopes to have electric "air taxis"...
Business
Business
More than dozen private joint-stock companies list in UAE in 2022
Abu Dhabi, UAE-- The number of private joint-stock companies which listed in the UAE's capital markets during 2022 went up...
- According to SCA, twelve companies listed on the Abu Dhabi Securities Exchange and one company listed on the Dubai Financial Market
- The listing of private joint-stock companies enable them to access a large capital base, besides opening the way to raise a company's brand value
Business
Stable oil price achieved by OPEC, OPEC+ to benefit member states: Saudi oil chiefÂ
Baghdad, Iraq - The Organization of the Petroleum Exporting Countries (OPEC) and OPEC+ alliance have succeeded in achieving stable oil...
- The Saudi minister made the statement during a celebration hosted in the Iraqi capital, Baghdad on Friday marking the Diamond Anniversary of the OPEC's founding
- Both the OPEC and the OPEC+ have succeeded in achieving stability in markets, thanks to consensus among all OPEC member states, Al-Saud said
Economy
Saudi Arabia scouts Europe for business tie-ups in healthcare, mining sectors
Riyadh, Saudi Arabia-- Saudi Arabia is aiming to establish a slew of business partnerships in healthcare and mining sectors with...
- In their meetings with CEOs of British companies, the Saudi officials discussed strategic healthcare partnerships, digital transformation and biotechnology
- In Germany, the Saudi delegation met with investors and representatives of major companies to explore investment opportunities in the industrial and mining sectors
Economy
RAKEZ entices Indian investors with ‘lucrative’ business prospects
Ras Al Khaimah, UAE-- Looking to boost economic cooperation and convince businesses across India to invest in the free zone,...
- RAKEZ's team met with many business chambers, industry associations, such as the Bombay Industries Association, Federation of Indian Export Organization
- Its CEO Ramy Jallad noted with satisfaction the overwhelming response from businesses and startup founders, which showed their high level of interest in Middle East
Business
Govt investments play key role as gaming revolution sweeps MENA with 60% population embracing esports
MENA region boasts one of the highest shares of gaming mobile app downloads, accounting for 50 percent compared to the...
- MENA region boasts one of the highest shares of gaming mobile app downloads, accounting for 50 percent compared to the global average of 40 percent, says a latest BCG report.
- Game streaming is projected to touch 200 million users by 2025 as mergers and acquisitions fuel gaming industry growth with 650+ deals in the first half of the year 2022
Business
Dubai records US$3.4bn in weekly real estate transactions
DUBAI, UAE - A total of 3,625 real estate and properties transactions valued at US$3.4 billion (AED12.5 billion) were conducted...
- The DLD report showed that 189 plots were sold for US$620 million.
- The report showed 2,753 apartments and villas were sold for US$1.9 billion.
Business
Mubadala invests $200m in Bicycle Capital
Bicycle Capital is a growth equity firm focusing on startups.
- Bicycle Capital has received $440 million commitments so far.
- Mubadala's $284 billion portfolio is spread across the globe.
Business
ADDED partners with Valeo to set up electric cars technology hub
Dubai, UAE -- Abu Dhabi's Department of Economic Development (ADDED) has joined forces with Valeo, a global automotive technology company,...
- The partnership aims to accelerate the growth of the automotive industry in the emirate and provide support to local electric car startups.
- Valeo, known for its advanced technologies and sustainability vision in green cities, plans to explore new areas of development through the integration of its expertise in the hub.
Business
Micron to invest $600m in China plant
Beijing had banned its chips from critical infrastructure projects.
- China's cybersecurity watchdog last month said Micron had failed a national security review, telling operators of "critical information infrastructure" to stop buying its products.
- About 10 percent of Micron's $30.8 billion annual revenue last year came from China, according to company data.
Business
Dubai International Chamber opens Europe’s first representative office in UK
DUBAI, UAE - Dubai International Chamber (DIC), one of the three chambers operating under Dubai Chambers, inaugurated on Friday a...
- The new office will focus its efforts on strengthening relationships with key public and private sector stakeholders.
- The office will support UK firms seeking to relocate to expand in Dubai and grow their business through the emirate.
Walking sharks, bombing crocodiles: Italian Brainrot memes only kids know
Shouty, crude and often nonsensical Italian voiceovers feature in many of the clips made by people in various countries that...
Arts & Culture
Company News
Oil prices rise after US, UK strike Houthi rebels
Market Report
ADQ, ADNEC Group sign agreements
Business
Latest News
QNB net profits up 8% in 2023
Business
Asian markets rally after Wall Street highs, oil prices slide
"The weakness of yesterday's US retail sales release have given market doves a new lease of life and allowed them...
Business
Mawani completes Red Sea Gateway Terminal at Jeddah Islamic Port
Riyadh, Saudi Arabia - The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah...
Business
Most Read
Business
AI in the Middle East: From potential to profit
The region is making significant strides in integrating AI into various sectors, promising substantial productivity gains and innovation, a latest...
- The region is making significant strides in integrating AI into various sectors, promising substantial productivity gains and innovation, a latest report points out.
- The Boston Consulting Group report reveals that 61% of Middle Eastern executives anticipate over 10 percent productivity gains from AI and GenAI in 2024.
Business
Americana Restaurants posts profit.
The annual net profit in 2022 was US$470 million.
- The company demonstrated resilient performance, despite US$106 million impact of unfavorable foreign exchange movements.
- Adjusted EBITDA increased to $550.8 million, reflecting a 2.8 percent growth year-on-year with a healthy adjusted margin of 22.8 percent.
Business
QEWC 2023 net profit US$426m
QEWC market share in supply of electricity was 61 percent.
- The earnings per share amounted to US$0.38 (QR 1.41) as of December 31, 2023.
- QEWC reported revenue of $799 million in 2023 compared to $747 million in 2022.