Oil slides, stocks rise as Iran-Israel ceasefire holds
The main international and US oil contracts briefly bounced off their lows as Israel and Iran accused each other of...
Geostrategy
MENA Brief | June 19: GCC central banks hold interest rates steady, Diriyah House launched in London
As most currencies in the region are pegged to the US dollar, monetary policy follows the decisions taken in Washington,...
Geostrategy
Business
Dubai records real estate deals worth $843 million in two days
Dubai, UAE – Dubai's real estate market recorded real estate transactions worth AED1.9 billion ($517 million) on Wednesday, Dubai Land...
- Wednesday's sales included 474 villas and apartments worth AED1.13 billion, and 31 land plots worth AED445.47 million.
- On Tuesday, the emirate recorded deals worth AED1.2 billion ($326 million) , including 433 sales transactions worth AED820.06 million
Economy
More rate rises may be needed to tame high inflation, says ECB economist
FRANKFURT, GERMANY - More eurozone interest rate increases will be appropriate to tame high inflation if conditions remain as expected, the...
- The ECB has hiked rates by 3.5 percentage points since July last year in an unprecedented campaign of monetary tightening.
- The central bank holds its next meeting on May 4 and all eyes are on whether policymakers will implement another hike and by how much.
Business
Retail giant Carrefour to offer menstrual leave to workers in France
Paris, France -- French supermarket giant Carrefour said on Wednesday it would allow female employees to take days off if they...
- The move is the latest to allow women extra time off in a country where paid menstrual leave still depends on the individual initiative of employers.
- The company, which has supermarkets all over the world, said the measures would for the moment only apply to workers in France.
Business
M42 acquires Diaverum
Diaverum is world’s third-largest provider of dialysis services.
- Founded in 1991, Diaverum operates across 23 countries, with 440 clinics and over 13,000 employees.
- It has a strong track record of clinical excellence, providing critical care to around 39,000 patients.
Netflix reports mixed earnings as password crackdown coming
The streaming television giant reported a quarterly profit of $1.3 billion, in line with expectations, but said it had delayed...
- Netflix said it expects to begin rolling out its options for paid password sharing this quarter instead
- Market tracker Insider Intelligence forecast that Netflix will bring in $770 million in ad revenue from the new tier this year
Business
United Arab Bank posts profit
The bank's net profit vaulted to US$15mn in Q1, up 80%.
- The jump in the net profit of the bank come on the back of improved net interest income and lower provision charges
- Its operating income rose 5 percent in Q1 of 2023, as against the same period of last year, due to a 38 percent jump in net interest income
Interview
Focus on innovation and sustainability as RAKEZ helps businesses grow
The economic zone supports over 18,000 SMEs and multinational corporations, providing them with simplified processes, customized packages, and digitalized services,...
- The economic zone supports over 18,000 SMEs and multinational corporations, providing them with simplified processes, customized packages, and digitalized services, says Jallad
- RAKEZ offers regular B2B networking opportunities, hosts workshops and seminars, and provides aftercare support to ensure businesses thrive in the UAE and beyond, he adds
Business
Car sales vault in Europe, cross 1 million mark first time since 2021
Paris, France--Sales of new cars jumped last month in Europe, surpassing the level of one million for the first time since...
- Italy posted 40.7 percent jump in car sales while Spain recorded 66.1 percent increase as sales rose in all EU nations
- German carmaker Volkswagen reported high sales, with the group selling 275,753 vehicles across its various brands
Business
OPEC Fund, UNIDO enhance cooperation to advance clean energy transition
Vienna, Austria - The OPEC Fund for International Development (the OPEC Fund) and the United Nations Industrial Development Organisation (UNIDO)...
- They also signed a US$1.5 million technical assistance grant agreement in support of the National Clean Cooking Transition Programme in Madagascar
- We look forward to collaborating with UNIDO to help deliver the Sustainable Development Goals, said OPEC Fund Director-General Dr Abdulhamid Alkhalifa
Business
United Airlines reports Q1 loss
The US airline posted a quarterly loss of US$194mn.
- United Airlines said that its results were hit by higher costs, especially on salaries and for jet fuel
- But the US carrier expects a rebound in demand for tickets in the coming summer months
Oil slides, stocks rise as Iran-Israel ceasefire holds
The main international and US oil contracts briefly bounced off their lows as Israel and Iran accused each other of...
Geostrategy
Company News
Latest News
Pfizer set to acquire Seagen
Business
EDGE bags another big order
The group will supply 200 unmanned helicopters to UAE defense ministry.
Business
NEOM announces its new luxury ecotourism destination Zardun
NEOM, SAUDI ARABIA - NEOM's Board of Directors has announced the launch of Zardun - an exclusive resort and natural...
Business
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Business
Jabal Omar secures $509m Murabaha
The financing agreement was signed with Al Rajhi Bank.
- The term of the facility is two years, Jabal Omar said in a statement to Tadawul, according to Argaam. Â
- The facility will be used to accelerate the completion of project phases under construction and pay financial obligations.Â
Business
Deals worth $26.66 billion signed at Real Estate Future Forum 2024
Riyadh, Saudi Arabia -- Deals worth more than $26 billion were signed at the Real Estate Future Forum 2024, which...
- Over 50 agreements and memoranda of understanding (MoUs) were signed during the event that focused on discussing new innovations.
- The event was attended by 300 speakers from 85 countries, including government officials, private-sector representatives, economists, investors and decision makers.
Business
US approves inspection program to return Boeing 737 MAX to service
The FAA announcement is a major step after the agency grounded 171 MAX 9 planes after the January 5 incident...
- Shortly after Federal Aviation Administration announced inspection protocols on Boeing 737 MAX 9, United Airlines said it expects grounded aircraft to return to service starting
- "We will only return each MAX 9 aircraft to service once this thorough inspection process is complete," said a statement from Toby Enqvist, United's chief operations officer