‘Middle East is a promising area with a lot of initiatives going on in the UAE, Saudi Arabia’
Beyond AI, new technologies will leverage artificial intelligence to drive the next phase of the Fourth Industrial Revolution, Alphaeus Hanson,...
Economy
Public-Private collaboration is crucial to tackling physical inactivity crisis: WFSGI CEO Emma Zwiebler
Emma Zwiebler, CEO of the World Federation of the Sporting Goods Industry (WFSGI), sat down exclusively with TRENDS at the...
Business
Business
DEWA, France’s satellite operator Eutelsat discuss cooperation
DUBAI, UAE - MD and CEO of Dubai Electricity and Water Authority (DEWA) Saeed Mohammed Al Tayer spoke of the...
- DEWA CEO highlighted organization’s key initiatives and projects to promote sustainability, renewable and clean energy, and energy efficiency.
- These include DEWA’s space program (Space D) which supports the National Space Strategy 2030.
Business
ADNOC to float 4% minority stake in ADNOC Gas on ADX
ADNOC Gas, formed in January 2023 through the consolidation of ADNOC’s gas processing and LNG businesses, is a large-scale integrated...
- ADNOC Gas, formed in January 2023 through the consolidation of ADNOC’s gas processing and LNG businesses, is a large-scale integrated business operating across the gas value chain
- The company’s twelve-month adjusted revenues to October 2022 totaled $24.9 billion, with the company delivering adjusted EBITDA of $8.7 billion and net income of $4.8 billion
Mercedes profits jump in 2022
The group sold over two million cars in 2022
- Net profit jumped by 34 percent to 14.8 billion euros ($15.7 billion) last year, the Stuttgart-based group said, while revenues were up 12 percent year-on-year to 150 billion euros
- The group sold more than two million cars in 2022, a five-percent increase on the year before, driven by strong demand for the S-Class model and the all-electric EQS
Business
Dubai records over $544 million in realty transactions
Dubai, UAE-- Dubai real estate market has recorded deals worth AED2 billion ($544 million) on Thursday, according to Dubai Land...
- The deals included 475 sales transactions worth AED1.38 billion.
- The sales included 412 villas and apartments worth AED1.06 billion.
Business
Centrica 2022 profit US$4bn
Firm's profit rose due to gas and crude oil prices spike.
- Britain's government of Prime Minister Rishi Sunak is temporarily subsidizing electricity and gas bills this winter.
- Centrica expanded its stock buyback scheme to hand another $360 million to shareholders.
Business
Etihad Airways to run three Abu Dhabi-Lisbon flights a week
Abu Dhabi, UAE - Etihad Airways is introducing a new direct service between Abu Dhabi and Lisbon, effective from 2nd...
- The airline will be connecting Abu Dhabi to Portugal’s capital city right in time for the summer holidays.
- Etihad Airways will be offering travelers nearly 160 weekly flights to 21 destinations in Europe this summer.
Business
Mawani and Bahri launch Europe-Asia cargo service via Jeddah port
Riyadh, Saudi Arabia -- The Saudi Ports Authority (Mawani) and Saudi shipping giant Bahri have jointly announced the addition of...
- The service will increase Bahri’s shipping network coverage and bolster international supply chains.
- Vessels on the new service will set sail from the ports of Bremerhaven, Antwerp, and Montoir, in Europe, before calling at Jeddah.
Business
DMCC reports 17 percent diamond trade growth in 2022
Dubai, UAE--- Dubai Multi Commodities Centre has reported a 17 percent year-on-year increase in the value of diamond trade in...
- The UAE has witnessed soaring growth over the past three years, with rough diamond trade rising by a total value of 72 percent and polished by 50 percent, DMCC said.
- DMCC reported a 42 percent rise in the polished category and a 7 percent rise in rough.
Business
Investopia, Mubadala ink strategic partnership
DUBAI, UAE - Investopia, the global investment platform launched by the UAE Government, and Mubadala, the sovereign investor, announced a...
- Mubadala and its portfolio companies will expand their participation across the different activities taking place during Investopia.
- The pact will include the participation of Mubadala’s senior leadership in the program, the firm's engagement in the various activities targeting start-ups.
Business
Abu Dhabi Chamber, India’s FICCI explore areas of collaboration
ABU DHABI, UAE - The UAE and India share solid relations, said the Abu Dhabi Chamber of Commerce and Industry...
- The Indian delegation was headed by the Assistant Secretary-General of the Federation of Indian Chambers of Commerce & Industry.
- The delegation included representatives of over 30 private companies across a wide range of industries.
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‘Middle East is a promising area with a lot of initiatives going on in the UAE, Saudi Arabia’
Beyond AI, new technologies will leverage artificial intelligence to drive the next phase of the Fourth Industrial Revolution, Alphaeus Hanson,...
Economy
Company News
Amlak Q3 net profit AED $73m
Business
Latest News
Aramex Q3 net profit down
Business
Rabigh 9M net loss $879m
Business
Yango shakes up UAE transportation sector with innovative tech and safety features
DUBAI -- In the heart of the UAE, a significant transformation is taking place in the transportation sector. As the...
Business
SAMA seeks public feedback on financial governance amendments
Riyadh, Saudi Arabia -- The Saudi Central Bank (SAMA) has invited interested parties and specialists concerned with “Key Principles of...
Business
India’s L&T secures EPC contract for Saudi Arabia’s Amaala project
New Delhi, India - Larsen & Toubro (L&T) secured a major Engineering, Procurement, and Construction (EPC) contract for the Amaala...
Business
Most Read
Apple to appeal US watch ban
The company contends that the ITC finding was in error.
- The ban on Apple's latest smartwatch models came into effect Tuesday, with the Apple Watch Series 9 and Apple Watch Ultra 2 no longer available in stores or online
- The ban is the latest legal tussle involving big tech companies over valuable patents that has also seen Google battle in court against Sonos in a fight over speaker tech
Opinion
Bahrain emerges as a thriving hub for tech startups
Entrepreneurs equipped with the right skills, a robust business strategy, and the ability to forge meaningful collaborations are well-positioned to...
- Bahrain is witnessing an increasing demand for digital transformation across various industries.
- Entrepreneurs in the Gulf country need innovation, adaptability, and strong networks for success.
Business
UAE insurance sector witnessed expansion in 2022: CBUAE
Abu Dhabi, UAE--The insurance sector in the UAE witnessed growth and expansion across various key indicators during 2022, according to...
- The growth in the insurance sector is expected to shore up the market's liquidity and make it more resistant to any future downturns
- According to the CBUAE report, the number of direct premiums written expanded by 11.2 percent year-on-year to 9.8 million in 2022