The $10 mn bag: Original Birkin smashes records at Paris auction
Paris, France -- The first-ever Birkin bag designed by French luxury brand Hermes for celebrity Jane Birkin sold for 8.58...
Arts & Culture
Nvidia tops $4 trillion as US stocks shrug off latest tariffs
After Congress gave Trump a big win last week with his fiscal package, the Republican's aggressive trade posture has returned...
Business
Business
France-UAE ties get robust as non-oil trade soars
Baroux also commends the UAE as the most promising market for French exports in the region, with over 600 French...
- Non-oil trade between France and the UAE rose to €7.318 billion in 2022, representing a 21% increase from the previous year
- The surge in trade signifies a significant 16.8 percent growth in bilateral economic relations between the two countries
Business
Advertising executive Linda Yaccarino is new CEO of Twitter
Elon Musk has chosen top ad executive Linda Yaccarino to take the day-to-day reins of Twitter as he fights to...
- Elon Musk said he would remain in charge of design and technology at Twitter while Yaccarino would focus primarily on business operations
- Linda Yaccarino will face an uphill battle trying to attract major companies to come back to the platform.
Business
Dubai Chambers briefs EU Missions about UAE Corporate Tax Law
DUBAI, UAE - Dubai Chambers has hosted a workshop for commercial attachés of EU Diplomatic Missions to provide them with...
- A workshop on Corporate Tax Law saw the participation of 13 officials from EU embassies and attaché offices in the UAE.
- Dubai Chambers said the workshop will bolster the strong trade and business relations with the European markets.
Business
Salik Q1 net profit $74.89m
Salik recorded the highest level of quarterly revenue-generating trips.
- The company achieved net profit of AED275 million during the quarter, with a net profit margin of 52.9 percent, the company said.
- Toll usage revenue, which contributed 87 percent to total revenue, increased 7.9 percent year-on-year.
Geostrategy
Iraq awaits Turkey’s response to resume Kurdish oil exports
The Kurdish regional government had for years earned billions of dollars in revenues exporting crude oil to Turkey without the...
- Iraq's Oil Minister Hayan Abdel Ghani had on Thursday said that crude exports from the Kurdish region through the Turkish port of Ceyhan would resume Saturday.
- But on Friday the Kurdish natural resources minister, Kamal Mohamed, told a Kurdish television channel that the resumption of exports was still awaiting approval from Ankara.
Business
Tabreed Q1 net profit $64.37m
Tabreed's total connected capacity rose to 1.276 million RT.
- Its revenue increased by 10 percent year-on-year to AED464 million from AED420 million in Q1 2022.
- The company's profit from operation increased by 12 percent to AED172 million compared to AED154 million in Q1 2022.
Economy
UAE tops the world in 5 labor market competitiveness indices
DUBAI, UAE - The UAE has topped several global labor market indices issued by international entities and institutions in a...
- These indices include lack of labor disputes, low cost of severance compensation for workers, and working hours.
- The UAE also stood out for the low cost of severance compensation in the Global Innovation Index 2022.
Business
Europe charges up car battery drive with new plants in Germany, France
The continent has been racing to produce more electric vehicles as part of its green transition, with the clock ticking...
- Sweden's Northvolt will build a multi-billion-euro plant in northern Germany, which will supply around one million electric vehicles with batteries a year.
- In France meanwhile, Taiwanese battery maker ProLogium announced it will invest 5.2 billion euros ($5.7 billion) in building a new factory in Dunkirk.
Business
Dubai records $2.55 billion in weeklong real estate transactions
Dubai, UAE -- A total of 3,112 real estate and property transactions, valued at AED 9.4 billion ($2.55 billion), were...
- The DLD weekly real estate report noted that 170 plots were sold for AED 1.89 billion, while 2,261 apartments and villas were sold for AED 5.34 billion.
- The top three transactions were a land in Al Safouh Second, sold for AED300 million, followed by a land in Saih Shuaib 4.
Business
Allianz Q1 posts net profit $2.2bn
Firm said the profit was driven by higher prices for policies.
- The unit's strong performance helped offset lower revenues at its life and health division and its asset management arm.
- Allianz confirmed that full-year operating profits remained stable at US$15.4 billion, "plus or minus US$1.08 billion".
The $10 mn bag: Original Birkin smashes records at Paris auction
Paris, France -- The first-ever Birkin bag designed by French luxury brand Hermes for celebrity Jane Birkin sold for 8.58...
Arts & Culture
Company News
Latest News
Al Saqr names chairman of board
Business
Abu Dhabi records real estate deals worth $1.36 billion in Jan
Abu Dhabi, UAE -- Real estate transactions in the Emirate of Abu Dhabi amounted to over AED 5 billion ($1.36...
Business
Shell annual profit drops to US$19.4bn
Its revenue dived almost a fifth percent to US$316.6 billion.
Business
Shares in India’s Paytm dive 20%
Banking arm asked to stop accepting fresh deposits.
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The DCO Council announces multilateral initiatives to bridge digital divide
Manama, Bahrain - The Digital Cooperation Organization (DCO), a global intergovernmental organization dedicated to fostering digital prosperity for all by...
- Topics of discussion included cross-border market growth; the value of data; human-centric and sustainable digital economy
- The DCO Council also announced the joining of Bangladesh, Qatar, and Greece as the new member states
Business
Air cargo demand rebounds in 2023 amid economic uncertainty
Geneva, Switzerland-- Air cargo demand rebounded in 2023 with a particularly strong fourth quarter performance despite economic uncertainties, according to...
- Carriers across the Middle East recorded a jump in demand of 1.6 percent for international operations in 2023 compared to 2022
- Airlines in the region posted an 18.3% increase in December in demand for both global and international operations compared to 2022
Business
Rise of GenAI boosts phishing threats during holidays
The sophistication of GenAI-driven phishing attacks requires robust security, including advanced DDoS protection and proactive cyber resilience strategies, says an...
- The sophistication of GenAI-driven phishing attacks requires robust security, including advanced DDoS protection and proactive cyber resilience strategies, says an expert.
- Emad Fahmy of NETSCOUT recommends establishing strong passwords, exercising caution online, and extensive use of VPNs to enhance cybersecurity amid rising threats.