The future of luxury residential development needs to be green and smart
The GCC luxury market segment has experienced significant growth, driven by an increase in the number of high-net-worth individuals. Accommodating...
Interview
Future of Humanity – TRENDS’ yearly Special Issue now online
Dubai, UAE -- TRENDS’ yearly Special Issue is out. This year’s edition, titled Future of Humanity, explores key global shifts...
Geostrategy
Business
DEWA approves payment of US$1.29bn in dividend to shareholders
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) which is listed on the Dubai Financial Market (DFM) on Monday...
- DEWA general assembly was chaired by Matar Humaid Al Tayer, Chairman of the Board of Directors of the utility.
- Saeed Mohammed Al Tayer, MD and CEO of DEWA and members of the Board of Directors also took part in the meet.
After backlash, Twitter now calls NPR, BBC, ‘government-funded’
The change in how Twitter refers to Washington-based National Public Radio happened quietly overnight Saturday and comes after the network...
- Elon Musk's social media network has applied the label to BBC's Twitter account, which is funded predominantly by British households paying a license fee
- The decisions will deamplify tweets from both companies, limiting their reach on a platform that remains a major communication tool for media outlets
Business
e& to acquire a majority stake in Careem Super App for $400m
Careem’s ride hailing business will remain fully owned by Uber and continue to be available with all other Careem services...
- Careem’s ride hailing business will remain fully owned by Uber and continue to be available with all other Careem services on the existing app for customers
- The Careem Super App offers over a dozen services including food and grocery delivery, micro-mobility, a digital wallet and suite of fintech services
Business
Microsoft, G42 sign MoU
MoU will leverage core competencies of both the firms.
- The MoU will help explore joint business development and marketing opportunities across a variety of areas G42 covers.
- Microsoft and G42 will be working in the coming months to finalize the development required to ensure regulatory compliance.
Business
SISCO to pay $8.6m dividend
The cash dividend will be paid for the second half of 2022.
- The dividends will be paid from 16 May 2023 and the payment is the final instalment of dividends for the year 2022.
- The company paid a total of 65.28 million riyals in dividends for the second half of 2022.
Business
Temu, Chinese shopping app, wows US amid TikTok fears
Shopping online at Temu, Laurie Silva paid just $1.25 for earrings and $15 for a cardigan -- she is among...
- Temu, which was launched last September, is positioned as an Amazon-like superstore, selling everything from make-up to homeware and electronics
- According to Sensor Tower, Temu has had 33 million US downloads since its launch, with user numbers surging on the month of the Super Bowl
Economy
Egypt sees growth in financial inclusion, touches 65% of adult population
Cairo, Egypt-- Egypt's financial inclusion has widened as total ownership of transactional accounts reached 64.8 percent of the total 65.4...
- The country's financial inclusion rose 147 percent between 2016 and 2022 to 42.3 million citizens who own and use transactional accounts
- Mobile wallets and prepaid cards primarily led to the increase, growing by 54 percent and 31 percent respectively
Economy
IMF, World Bank to consider ‘ambitious reform’ in spring meetings
Washington, United States-- The World Bank and International Monetary Fund's spring meetings get underway later this week with an ambitious reform...
- The IMF estimates globlal growth to drop below three percent this year, and to remain at close to three percent for the five years
- Although Asia's emerging markets might witness a big rise in economic output, nearly 90 percent of world's large economies will see slow growth this year
Business
Dubai Customs to collaborate with Global Innovation Institute to boost services
Dubai, UAE--Dubai Customs has discussed with the Global Innovation Institute (GInI) how they can further enhance their customs services and...
- Dr. Hussam Jumaa said Dubai Customs' strove to achieve the best results in creativity and innovation, stating that innovation has become a solid corporate culture for them
- By obtaining the Innovative Organization certification, Dubai Customs has become the first customs institution in the UAE and the Middle East to obtain the recognition
Business
DIEZ profit zooms 42%
The company reported a 9 percent rise in rental revenue.
- The company reported a 9 percent rise in rental revenue and a 69 percent increase in revenue from commercial licences
- Dr. Mohammed Al Zarooni, Executive Chairman of the DIEZ, said that more than 22,000 companies are based out of the zones.
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The future of luxury residential development needs to be green and smart
The GCC luxury market segment has experienced significant growth, driven by an increase in the number of high-net-worth individuals. Accommodating...
Interview
Company News
Q3 corporate earnings show mixed results in GCC
Market Report
Latest News
Qatar records $222m in realty deals: Registration department
Doha, Qatar -- The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
Business
ACWA Power-led consortium signs deal for wind energy project
Cairo, Egypt -- The Egyptian government signed an agreement yesterday with a consortium led by the Saudi company ACWA Power...
Business
Most Read
Business
Borouge signs supply agreement
The two-year agreement is worth AED 160 million ($43.56 million).
- Under the two-year agreement, Borouge will provide advanced infrastructure solutions to NAFFCO for various infrastructure projects across the region.
- The Guggenheim Museum, the Riyadh city project, Mohamed bin Zayed City and the Yas Island Development Project are some of the projects.
Business
FAB issues first Sukuk globally in 2024
ABU DHABI, UAE - First Abu Dhabi Bank (FAB) has issued a five-year US$800 million Sukuk at US Treasury +85bps,...
- The allocation sees 76 percent directed towards dedicated Islamic investors and 38 percent towards international counterparts.
- The 1.9x oversubscribed order book represented high-quality investors, including international fund managers, supranational and banks.
Houthi attacks idle Suez Canal, deepen Egypt’s economic woes
The man-made waterway - which officially opened in 1869 - is crucial for Egypt, earning it $9.4 billion in transit...
- IMF figures show 35 percent less cargo was transported through the Suez Canal in the first week of 2024 compared with the same period last year
- Analysts say the financial impact will become painful if Houthi attacks keep throttling traffic through the main maritime artery connecting Europe and Asia