Abu Dhabi real estate transactions reach $4.69bn in Jan, Feb 2025
Abu Dhabi, UAE -- Real estate transactions in Abu Dhabi reached AED17.24 billion ($4.69 billion) in the first two months...
Business
Business
DMCC posts record Q1 growth as 708 firms register
A total of 3049 new companies joined DMCC in 2022.
- This is DMCC's best performance in Q1 since its inauguration in 2002, marking a 8.4% increase year-on-year.
- The best performing sectors for DMCC was its traditional core markets, which showed strong results in businesses from various countries.
Geostrategy
Oil cuts in interest of energy markets, says Russia
The Kremlin said oil output cuts by Russia, Saudi Arabia and other major producers that have caused prices to soar...
- Saudi Arabia and other major oil producers announced Sunday a production cut of more than one million barrels per day.
- Russia said it would extend until the end of the year its own voluntary production cut of 500,000 barrels per day.
Geostrategy
China begins security probe into US chipmaker Micron
BEIJING, CHINA - Chinese authorities have begun an investigation into leading US memory chipmaker Micron Technology, a decision Beijing's foreign ministry...
- The probe escalates an already fierce battle between US and China for supremacy in the field of semiconductors.
- US authorities have in recent years sought to prevent the country's advanced chip technology from being exported to China.
Oil market surges as Saudi-led top producers cut output defying US pressure
Sunday's move "caught the markets off guard" and reversed recent oil-price gains, noted ActivTrades analyst Ricardo Evangelista. "With the fizzling...
- Crude futures surged almost eight percent at one stage after multiple members of the OPEC+ exporters' alliance unexpectedly slashed production
- The shock reduction, unveiled Sunday by Algeria, Iraq, Kuwait, Oman, Saudi Arabia and the UAE, will start in May and last until the end of the year
Business
MODON to acquire GE’s Industrial Complex in the Eastern Region
Riyadh, Saudi Arabia -- The Authority for Industrial Cities and Technology Zones (MODON) has signed an agreement with GE whereby...
- Under the pact, initiatives will be launched to support and empower entrepreneurs and SMEs
- The company is also keen to boost its partnerships with major global manufacturers and companies
Business
China Renaissance, investment bank, suspends share trading
Beijing, China--Investment bank China Renaissance suspended trading in its Hong Kong-listed shares on Monday, saying the disappearance of its chairman meant...
- The bank said it could not publish its audited 2022 results in the absence of its chairman having gone missing
- Bao Fan, the group's billionaire chairman and executive director, is among the latest high-profile financiers to fall foul of the authorities
New York Times loses Twitter verification on main account
The New York Times was among news media companies, firms and charities that had already lost their blue tick and...
- The New York Times said it would not pay for a verified business account and would subscribe for a blue tick only for journalists
- As of Sunday, the organization's main account, with nearly 55 million followers, had lost its gold checkmark
Business
NREC 2022 profit declines
The company announced Earnings Per Share of 10.1 fils.
- The company also announced an Earnings Per Share of 10.1 fils for the last year, compared to an EPS of 112.2 fils in 2021
- Its operating revenue came in at $85 million for the year ending December 31, 2022, compared to $106 million in 2021
Economy
Iraq to speed up resumption of oil exports from Kurdistan region
Baghdad, Iraq--Iraqi oil ministry has affirmed the federal government's keenness on speeding up the resumption of the Kurdistan region of...
- The ministry stressed the importance of resuming oil exports in the wake of the decision by the international court, and resolution of "technical issues"
- It also highlighted the significance of revenues in supplying the federal budget as per the agreed quantities, saying that it expressed all of this in bilateral meetings
Business
Improving ICT infrastructure and digital skills to bolster tourism in Emerging Asian economies
The pandemic changed tourist preferences, with greater interest in local travel, nature destinations, and wellness tourism. It also heightened awareness...
- Tourism is beginning to rebound as restrictions implemented in response to the COVID-19 pandemic have been lifted, says an OECD report
- The post-lockdown reopening of China will serve to counterbalance and provide a necessary economic boost for the region, it predicts
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Abu Dhabi real estate transactions reach $4.69bn in Jan, Feb 2025
Abu Dhabi, UAE -- Real estate transactions in Abu Dhabi reached AED17.24 billion ($4.69 billion) in the first two months...
Business
Company News
Gulf Air hit by data breach
Economy
Latest News
Saudi Arabia raises mineral resources estimates to $2.5 trillion
The Kingdom raised its mineral resources estimates from $1.3 trillion in 2016 on the exploration of nearly 30 percent of...
Business
UAE and India sign MoUs to deepen ties in renewable energy, healthcare
Abu Dhabi, UAE--The UAE Ministry of Investment has signed three memorandums of understanding (MoUs) with India, setting out frameworks for...
Business
GCC telecom firms turn to Europe, Asia for expansion
Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home...
Business
Most Read
Geostrategy
Honda unveils futuristic EV series
It will introduce a commercial model in the US in 2026.
- The automaker's "Saloon" model features a low platform with a wide interior and sleek silhouette
- The company set an ambitious target of achieving 100 percent electrified vehicle sales by 2040
UAE startups eye Saudi Arabia for growth, expansion
With both nations offering substantial markets and supportive environment for innovation, startups are exploring new opportunities in the Kingdom.
- UAE-based startups are increasingly turning to Saudi Arabia, leveraging the Gulf's largest economy to scale up their operations.
- With both nations offer substantial markets and supportive environment for innovation, startups explore new opportunities in the Kingdom.
Opinion
Rising threat of lookalike domains poses new challenge
"Detecting these attacks and avoiding falling victim to them is vital, but the ability to take down lookalike domains is...
- Lookalike domains deceive users via SMS, social media DMs, and QR codes.
- DNS vulnerability allows attackers to create authentic-looking fake domains.