Trump threatens Apple with a 25% tariff if iPhones aren’t made in US
Washington, United States -- US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones...
Business
Ads pressured to evolve as AI changes Google search
San Francisco, United States -- As Google races to lead in artificial intelligence, it faces the challenge of making sure...
Business
Business
Madbouly invites Qatari businesses to invest in Egypt
Egypt is focused on rebuilding the state and infrastructure. The country has dropped unemployment levels from 18 percent to 7.2...
- Qatar businesses are invited to invest in the Egyptian economy and benefit from the opportunities, says the Egypt’s Prime Minister Dr Mostafa Kamal Madbouly
- Egypt's infrastructure projects have contributed to creating economic dynamism and provided the appropriate framework to stimulate the private sector, he adds
Interview
What’s keeping CIOs across Middle East up at night?
Lack of relevant skills, constant innovation in a highly disruptive world while keeping in mind budget constraints and cybersecurity remain...
- Lack of relevant skills, driving constant innovation in a highly disruptive world while keeping in mind budget constraints and cybersecurity remain key concerns, says IDC official
- Cybersecurity spending in the region is about US$4.8bn with prominent spenders being the public sector followed by banking and financial services, telecom and oil & gas, he adds
Business
French court sets aside NGOs lawsuit against TotalEnergies
PARIS, FRANCE - A French court on Tuesday dismissed a landmark case against TotalEnergies for a massive oil project in Uganda...
- The six NGOs argued the development of the East African Crude Oil Pipeline (EACOP) failed to adhere to a "duty of vigilance"
- It is a 2017 law that compels companies to avoid grave harm to human rights, health, safety and the environment
Business
Tesla to open plant in Mexico
The plant is going to be established in Monterrey.
- "The plant is going to be established in Monterrey," Lopez Obrador told reporters after speaking with Musk.
- He said the US company had promised to address the problem of water scarcity in Monterrey.
Business
Yahsat 2022 revenue up 6%
The company recorded a revenue of $433 million for 2022.
- For the twelve-month period, Yahsat delivered growth in revenue and adjusted EBITDA, which increased 6 percent and 7 percent respectively year-on-year.
- Other highlights include Adjusted EBITDA of AED946 million ($258 million), up 7 percent year-on-year, delivering a margin of 60 percent.
Market Report
US, European stocks dip as traders mull US rates outlook
US and European stocks dipped as dealers fretted that the Federal Reserve would push interest rates higher than expected and...
- Oil prices rebounded, while the pound extended gains won on Brexit deal alterations.
- Eurozone bond yields surged higher, with the yield on the benchmark German 10-year government bond rising to a 12 year high.
Business
Iraq, OPEC’s second largest producer, imports oil products
Dubai, UAE-- Iraq has imported oil derivatives - gasoline, kerosene and gas oil - worth more than $5 billion in...
- Iraq produces 4.58 million barrels per day and aspires to reach production of 6 million barrels by 2025
- The total imported quantities of oil derivatives for 2022 increased by 60.43 percent compared to 2021
Business
SABIC 2022 profit down 28%
The firms said margins will continue to be under pressure in H1.
- The net profit of SABIC, which is one of the largest petrochemical companies in the world, after taxes was 16.5 billion riyals ($4.4 billion).
- In a statement, SABIC said that its fourth quarter 2022 net income was 290 million riyals, 84 percent lower compared to Q4 2021.
Economy
Khalifa Fund announces winner of CEO Program
ABU DHABI, UAE - Khalifa Fund for Enterprise Development, in partnership with the Abu Dhabi Department of Economic Development (ADDED)...
- The CEO program is a rigorous nine-month program that aimed to cultivate entrepreneurship and innovation skills.
- The program also helps build and grow ag-food tech ventures and contribute to the UAE's Food Security Strategy.
Business
Bayer 2022 profits $4.3 billion
The profit in 2021 was 1 billion euros, the company said.
- Sales rose by 8.7 percent to 50.7 billion euros, in line with analyst expectations.
- The results were boosted by record sales in the company's agricultural division, up more than 15 percent year-on-year to 25 billion euros.
Trump threatens Apple with a 25% tariff if iPhones aren’t made in US
Washington, United States -- US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones...
Business
Company News
Latest News
ADQ, ADNEC Group sign agreements
They will buy 40.5% stake in TMG Holding’s hospitality business.
Business
Abu Dhabi real estate deals hit $517 million since Jan 1: DARI
Abu Dhabi, UAE -- Real estate transactions in Abu Dhabi amounted to approximately AED 1.9 billion ($517 million) in the...
Business
Lunate Capital launches Shariah-compliant ETF tracking Indian equities
ABU DHABI, UAE - Lunate Capital announced the launch of the Chimera SP India Shariah ETF, a physical, in-kind, liquid,...
Business
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Business
QNB net profits up 8% in 2023
The QNB Group posted a net profit of $4.25 billion.
- The bank said that earnings per share (EPS) amounted to QR 1.55 as of 31st December 2023 compared to QR 1.44 for the same period in 2022.
- The bank's board has announced the distribution of a cash dividend of 65 percent of the nominal share value (QR 0.65 per share).
Economy
Tawazun Council acquires TASNEEF
Subsidiaries of TASNEEF were also acquired.
- This strategic move aims to enhance the council's role in developing national defense industries, the Council said.
- TASNEEF has established a number of services, including issuing rules of relevance to the classification of ships.
Business
Sharjah, Sfax chambers look to boost ties between UAE and Tunisia
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) and the Chamber of Commerce and Industry of Sfax, Tunisia, held...
- The talks centered upon holding joint events and improving coordination to encourage businessmen to participate in exhibitions
- The Sharjah Chamber received an invitation from the Tunisian side to participate in an exhibition at the Sfax International Fair