Israel arms exports to UAE, Bahrain, Morocco rise sharply after 2023
Sales to countries considered part of the Abraham Accords -- the United Arab Emirates, Bahrain and Morocco who signed groundbreaking...
Business
Indian airline IndiGo orders 30 Airbus A350 widebody planes
New Delhi, India -- Indian airline IndiGo said on Sunday it had signed an order for 30 more Airbus A350-900s,...
Business
Business
Villas, apartments constitute bulk of $626m Dubai realty deals
Dubai, UAE -- Dubai real estate market recorded real estate deals valued at more than AED2.3 billion ($626 million) on...
- The deals included a total of 434 sales transactions worth AED1.83 billion, in addition to 86 mortgage deals of AED426.46 million, and 139 gift deals amounting to AED123.6 million.
- The sales included 395 villas and apartments worth AED944.57 million, and 37 land plots worth AED889.15 million.
Business
ADNIC to pay $62m dividend
At its Annual General Meeting, ADNIC okayed 40% dividend.
- The company’s gross written premiums increased by 20.1 percent to AED5.13 billion ($1.39 billion), compared to AED4.27 billion ($1.16 billion) for the same period in 2021.
- ADNIC's net underwriting income was AED490.9 million ($133 million), compared to AED491.9 million ($134 million) for the same period in 2021.
Google launches Bard, the ChatGPT rival in US and UK
Bard, ChatGPT and other similar artificial intelligence apps churn out essays, poems or computing code on command and have taken...
- Google CEO Sundar Pichai told staff that after testing Bard with 80,000 Google employees, the chatbot would be tested with the public in US and Britain
- People wishing to play with Bard can sign up on a waiting list at bard.google.com website, distinctly separate from the tech giant's search engine
Business
DFM approves cash dividend
The company posted an increase of 41.7% in profit.
- The new fixed dividend policy stipulates that the company annually pays a minimum of 50% of its distributable net profit
- The company also approved the appointment of the Fatwa and Sharia’ Supervisory Board members for the year 2023
Business
EU raids energy drink Red Bull over violation of antitrust rules
If the company raided is guilty of antitrust violations, it risks large fines but can be granted immunity if it...
- EU's executive arm said earlier its teams carried out unannounced inspections Monday at the premises of Red Bull.
- EU authority is probing allegations the company violated antitrust rules that prohibit cartels and restrictive business practices.
Business
Dana Gas proposes dividend
The company had reported a net profit of $182 m for 2022.
- A payout of 4.5 fils per share for the second half of 2022 would take the total dividend payment for 2022 to AED630 million ($171.5m)
- The increased payout reflects higher global energy prices and the company’s good operational performance for the year, Dana said.
Business
Tabreed to pay record dividend
Dividend of 13.5 fils per share highest ever in company's history.
- The dividend marks an increase of 1.5 fils per share on the 12 fils per share equivalent paid to shareholders in 2022.
- Tabreed said it added nearly 55,000 refrigeration tons of new connections in the UAE and across the region.
Business
Bahrain central bank treasury bill issues’ value reaches $5.3 billion
Manama, Bahrain – The Central Bank of Bahrain (CBB) has issued treasury bills with a maturity period of 12 months....
- The issue date of the bills is 23 March 2023 and the maturity date is 21st March 2024.
- With this issue, the total outstanding value of government treasury bills reached BD2 billion ($5.3 billion).
Business
Women leadership key to sustainable future
Women in the region need to be patient, attentive, and teachable to succeed at building a business. The skills women...
- Women in leadership roles can motivate next generation to work towards a sustainable future, says Maryam Al-Mansoori of Rebound Plastic Exchange
- Women can get a head start on their career by picking the brains of successful businesspeople and getting their feet wet at a young age, she adds
Business
Women need more agency to achieve equality
Women's achievements at all levels during the past 50 years are widely regarded as an essential foundation for shaping the...
- Emirati women succeeded in proving themselves in society as mothers and in the financial world as hard workers and leaders, says an expert.
- Women's achievements at all levels during past 50 years form an essential foundation for shaping the UAE's future, adds Alia Al Serkal of du
Israel arms exports to UAE, Bahrain, Morocco rise sharply after 2023
Sales to countries considered part of the Abraham Accords -- the United Arab Emirates, Bahrain and Morocco who signed groundbreaking...
Business
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Apple loosens grip on iPhone apps
Apple will permit developers to include buttons or links in apps.
Business
Sharjah Chamber discusses collaboration with AAAID on trade, investment
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) has held discussions with the Arab Authority for Agricultural Investment and...
Business
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Interview
Government, financial sectors top cyberattack targets
The Middle East's oil and gas sector also stays on hit list of of cyberattackers, Trellix CEO Bryan Palma tells...
- The Middle East's oil and gas sector is a key target for cyberattacks, Trellix CEO Bryan Palma tells TRENDS, stressing the need for widespread cybersecurity investments.
- He emphasizes the critical risks faced by the public sector and financial services, and discusses how XDR and AI technologies are advancing cybersecurity in the region.
Business
Maersk and Hapag-Lloyd ink deal
The cooperation deal between the two will begin February 2025.
- The cooperation, which is set to start in February 2025, will comprise a fleet pool of nearly 300 vessels with a combined capacity of 3.4 million containers
- The CEO of Maersk Vincent Clerc said the agreement will offer a "flexible ocean network" and "strengthen our integrated logistics offering"
Business
Qatar to set up Centre for Fourth Industrial Revolution
Davos, Switzerland -- The war in Ukraine, tensions in the Middle East, monetary policy in 2024, jobs, equitable economic growth,...
- A Centre for the Fourth Industrial Revolution will also be established in Vietnam.
- WEF and GovTech Campus Deutschland announces the establishment of the Global Government Technology Centre Berlin.