Amazon tycoon Jeff Bezos, his fiancee Lauren Sanchez arrive in Venice for lavish wedding
Bezos, 61, and Sanchez, 55, are said to have booked out the city's finest hotels for a star-studded guest list...
Business
Aldar nets $953m in sales at Fahid
Aldar said 42 percent of the buyers are under the age of 45.
Geostrategy
Business
P&G earnings solid on higher pricings
Its Q1 profits rose 1% to $3.4 billion, on a 4% increase in revenues.
- P&G shares rose 2.7 percent in pre-market trading following the results, which were better than expected.
- While there was a fall in sales volumes, this was offset by a 10 percent surge in product pricing -- boosting sales gains.
Business
Norway’s sovereign wealth fund posts $84 billion quarterly profit
According to a ranking by the Sovereign Wealth Fund Institute (SWFI), the Norwegian fund is the biggest in the world,...
- The robust showing, representing a return of 5.9 percent, erases about half of the fund's massive $165.4-billion loss last year amid turbulence over the start of the war in Ukraine
- The fund, one of the world's biggest investors, was worth a dizzying $1.34 trillion at the end of March, or almost $245,000 for each of Norway's 5.5 million inhabitants.
Musk all the way: Pope loses Twitter verification Tesla’s stock fall, rocket explodes
Shares of Tesla slumped after reporting a drop in quarterly earnings and hinting the Musk-led company could face further profit...
- Twitter began the mass removal of blue ticks, with the symbol previously signifying a verified account vanishing from users including the Pope, Trump and Justin Bieber
- Despite the failure to complete the flight test and reach orbit, SpaceX and Musk, the founder and CEO of the private space company, declared it a success
Business
Digital platforms are transforming the way GCC countries attract investments
Since the beginning of 2023 alone, three digital and physical platforms have been launched by Qatar, Oman and Kuwait to...
- The Qatar Investment Promotion Agency launched the latest Gulf investment platform on April 4, 2023
- The most prominent investment platform in the UAE is "Invest in Dubai", launched in February 2021
Business
Bahrain: The ultimate destination for natural pearl lovers
Customers at a Bahrain jewellery store study displays of pearls that are, unusually, 100 percent natural -- the result of...
- While rare elsewhere, natural pearls prised from seabed oysters by divers are the only variety produced in the Gulf kingdom, which is fiercely proud of its pearling tradition
- A tiny island state neighbouring Qatar, Bahrain is the sole country worldwide to have banned the cultivation of artificial pearls, which have flooded the market since the 1920s
Market Report
Stock markets slip on auto woes, economy fears
Global equities mostly slid on auto sector woes and economic fears about the prospect of more interest rate hikes aimed...
- The dollar fell against its main rivals and crude oil tanked more than two percent.
- Europe's main equity markets were mostly lower after a mixed session in Asia.
Business
Nokia Q1 earnings down
Nokia's share price was down seven percent at $4.35.
- Nokia's earnings per share amounted to six cents, weaker than the seven cents expected in a survey of analysts by financial data firm FactSet.
- Despite the mixed results, Nokia remains on track to "deliver another year of growth in 2023," said an official.
Business
Dubai real estate sector deals increase by 80% in Q1 to $42.75 billion
Dubai, UAE – Dubai’s real estate sector recorded deals worth AED157 billion ($42.75 billion) in the first quarter of 2023,...
- Transactions worth AED528 billion were recorded during the year 2022, a 44.7 percent increase in volume and 76.5 percent increase in value compared to 2021.
- The number of new investors entering the emirate’s real estate market in Q1 2023 rose to 13,338, a 12 percent growth from Q1 2022
Science
SpaceX Starship, world’s biggest rocket, explodes during first flight test
Starship, the most powerful rocket ever built, exploded during its first flight, but Elon Musk congratulated his SpaceX team on...
- The Starship spacecraft that will eventually carry crew and cargo had been scheduled to separate from the first-stage rocket booster three minutes into the flight.
- Despite the failure to complete the full 90-minute flight test and reach orbit, SpaceX and Musk, the founder and CEO of the private space company, declared it a success.
Economy
WTO, WBG, WEF launch scheme for trade, climate mitigation efforts
GENEVA, SWITZERLAND - The World Trade Organization (WTO), the World Bank Group (WBG) and the World Economic Forum (WEF) on...
- The initiative Action on Climate and Trade (ACT) . which starts with a pilot phase, will focus on working with participating developing economies.
- ACT will provide participating economies with tailored insights so that they can plan for the impacts of climate change on trade.
Amazon tycoon Jeff Bezos, his fiancee Lauren Sanchez arrive in Venice for lavish wedding
Bezos, 61, and Sanchez, 55, are said to have booked out the city's finest hotels for a star-studded guest list...
Business
Company News
ADX signs MoU with SZSE
Business
Latest News
Alaska Airlines to take US$150m hit
It grounded the Boeing 737 MAX after in-flight safety episode.
Business
UAE, Malaysia sign MoU to enhance ties in digital-infrastructure sector
Abu Dhabi, UAE-- The UAE and Malaysia have signed a memorandum of understanding (MoU) to boost investment cooperation in the...
Business
WEF24: Investor confidence fuels sustainable growth
GFH Financial Group has made significant investments in healthcare, education, logistics, and private lending in Saudi Arabia and the UAE,...
Interview
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Business
Vodafone Qatar 2023 profit up
The 2023 net profit of Vodafone Qatar increased to $148 million.
- Vodafone Qatar’s net profit for the nine months ending September 2023 reached US$107 million.
- This reflects a growth of 17.3 percent compared to the same period in 2022, mainly driven by higher EBITDA.
Business
Microsoft lays off 1,900 staff
The move comes after Activision Blizzard gaming buyout.
- Alongside the layoffs, Blizzard president Mike Ybarra said he was leaving the company.
- Microsoft launched its blockbuster takeover in January 2022, an acquisition that made it the world's third-largest gaming company by revenue.
Business
EDGE bags another big order
The group will supply 200 unmanned helicopters to UAE defense ministry.
- The unmanned VTOL systems will be manufactured by Switzerland-based EDGE entity, ANAVIA.
- In November 2023, EDGE acquired a 52 percent majority shareholding in ANAVIA, which manufactures unmanned helicopters.