Masdar, TotalEnergies $2.2bn venture to push renewable energy growth in Asia
Dubai, UAE -- Masdar and TotalEnergies have signed a binding agreement to establish a $2.2 billion 50/50 joint venture aimed...
Business
UAE real estate gains momentum on strong 2025 base as Mar sales surge
Dubai, UAE -- The UAE’s real estate sector extended its upward trajectory in March, with robust project launches, steady construction...
Business
Business
Maaden raises $1.25bn in sukuk offering
The Sukuk were offered in a five-year and a 10-year tranche.
- The five-year tranche of $750 million consists of 3,750 Sukuk based on the minimum denomination and total issue size.
- Maaden said the annual return on the five-year tranche is 5.25 percent and 5.50 percent for the 10-year tranche.
Business
UAE announces top-up tax for multinational enterprises
Abu Dhabi, UAE - The Ministry of Finance has announced the issuance of Cabinet Decision No. 142 of 2024 on...
- The top-up tax will apply to entities that are members of Multinational Enterprises (MNEs) operating in the UAE with annual global revenues of €750 million or more
- To bolster the UAE’s competitiveness as a leading investment hub, the top-up tax has been structured to exclude Investment Entities
Big Tech’s AI spending rattles markets
Amazon and big tech peers Microsoft and Google saw their stock prices fall on concerns over high AI investment costs....
- Meta's stock surged 18 percent in January as investors endorsed its AI strategy
- Amazon forecasts 5-9 percent growth in Q1 2025, with sales between US$151 and US$155.5 billion
Exclusive: Green investments lead to tangible returns, says WEF’s PhilipsÂ
Public-private partnerships are essential for advancing sustainable urban development and meeting net-zero targets, Vivian Brady Phillips, Head of Strategic Initiatives,...
- Public-private partnerships are essential for advancing sustainable urban development and meeting net-zero targets, Vivian Brady Phillips tells TRENDS
- Technology plays a crucial role in sustainability, enabling energy-efficient operations, smart city connectivity, and digital waste tracking
Business
UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn
Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...
- He said that of all the positive indicators, the most encouraging is the increasing contribution of non-oil exports to UAE's foreign trade.
- Last year, they climbed 27.6 percent in to reach a record AED561.2 billion – nearly 70 percent of the AED800 billion target.
Business
DAE net profit up 36.2%
Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.
- Total assets reached more than US$13 billion by the end of 2024 compared to US$12.26 billion in 2023.
- DAE said it acquired 83 aircraft (owned: 30; managed: 53) and sold 68 (owned: 19; managed: 49).
Dubai airport clocks record 92.3 million passengers
A record 92.3 million passengers travelled through Dubai's international airport last year, its operator said on Thursday, extending a post-pandemic...
- The UAE has now been ranked as the world's busiest international air hub for a decade
- The airport was targeting 400 international destinations, up from 272 currently
Business
Borouge 2024 net profit $1.24bn
The company said it will maintain a $1.3bn dividend for 2025.
- EBITDA climbed 14 percent year-on-year to $2.48 billion, driven by a 4 percent year-on-year revenue increase to $6 billion.
- Sales volumes reached their highest-ever level of 5.3 million tonnes, supported by strategic positioning in high-growth markets across Asia, the Middle East and Africa.
World Economic Forum
Risks are interconnected, need collaborative solutions, says WEF’s Mark Elsner
Davos, Switzerland – Mark Elsner, Head, Global Risks Initiative, World Economic Forum sat with TRENDS during WEF’s summit in Davos...
- The Global Risks Report 2025, with insights from over 900 experts, identifies state-based armed conflict as the most immediate risk for 2025.
- The report was circulated ahead of the Davos meeting, which serves as a platform for advancing dialogue, cooperation, and partnerships.
Geostrategy
Norway nears 100% goal of all-electric cars
By comparison, the share of electric cars in Europe was just 13.6 percent in the full-year 2024, a decline for...
- A total of 9,343 new cars were sold in January, of which 8,954 were all-electric, the Norwegian Road Federation (OFV) said.
- Of the 50 most-sold models, only two were non-electric, the first of which came in 33rd place, the OFV said.
Masdar, TotalEnergies $2.2bn venture to push renewable energy growth in Asia
Dubai, UAE -- Masdar and TotalEnergies have signed a binding agreement to establish a $2.2 billion 50/50 joint venture aimed...
Business
Company News
DP World 2025 revenue $24.4bn
Business
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Khalifa Education Award begins judging stage
Geostrategy
Saudi, Qatar airlines adjust flights as regional tensions disrupt travel
Dubai, UAE -- Airlines has extended the suspension of flights to several Gulf destinations as regional tensions continue to affect...
Geostrategy
UAE consolidates its position as global hub for cross-border e-commerce
ABU DHABI, UAE -- The United Arab Emirates has consolidated its position as one of the world’s leading global and...
Business
Empower distributes $701 million dividends since listing
Dubai, UAE -- Emirates Central Cooling Systems Corporation PJSC (Empower) said it has distributed AED2.575 billion in dividends to shareholders...
Business
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Business
BYD 2025 revenue surges
The EV manufacturer reported net profit of $.3.3bn for 9M 2025.
- In the third quarter alone, BYD reported revenue of 194.99 billion yuan ($27.4 billion), while quarterly net profit reached 7.82 billion yuan ($1.1 billion).
- The automaker said global sales reached 3.26 million vehicles in the first nine months of 2025.
Business
Aramco net income $28bn
Capital investment during Q3 2025 $12.9bn on investments in energy projects.
- The company also reported free cash flow of approximately $23.6 billion in the quarter.
- The company is expanding gas production capacity and investing in new projects including the Jafurah gas development project.
Business
e& revenue up 23%
Consolidated net profit reached $2.94 billion during 2025.
- The telecom group also reported continued growth in its subscriber base and digital service offerings across its operating markets.
- During the third quarter of 2025, the company reported consolidated revenue of AED53.5 billion for the first nine months of the year.