Masdar targets 100 GW of clean energy by 2030
Abu Dhabi, UAE - Fatima Al Suwaidi, Head of Development & Investment (APAC) at Masdar, has affirmed the company's ambitious...
Business
Over 300 keynotes, panels, main sessions at 1 Billion Followers Summit’s third edition
Dubai, UAE - The third edition of the 1 Billion Followers Summit, the world’s first and largest event dedicated to...
Business
Business
Newmont offers to buy Newcrest
If the deal is sealed, it would be gold sector's largest acquisition.
- Newmont's offer calls for the merged firm to be 70 percent owned by the Denver, Colorado-based company and 30 percent owned by the Australian firm.
- Newcrest's share price rose 9.27 percent to $16.90 (A$24.53) on the ASX on Monday.
Business
Adani shares tank again as Indian opposition stages protests
The group owned by tycoon Gautam Adani has lost around $120 billion in value since the claims were levelled by...
- Trading in Adani Total Gas and in Adani Power was again suspended after the stocks fell five percent
- Shares in flagship Adani Enterprises were down 2.0 percent, having been off almost 10 percent in volatile early trade
Business
Invictus 2022 net profit $123.62m
The profit increased by 62 percent compared to 2021.
- The company's revenue grew by 103 percent from AED 2.94 billion in 2021 to AED 5.98 billion in 2022.
- In a bourse disclosure, the company said the rise in revenue and net profit was driven by volume growth and entry into new markets and categories.
Business
Burjeel signs MoU with Leejam
The two will run wellness centres in Saudi Arabia.
- The two will operate a network of more than 60 physiotherapy, rehabilitation and wellness centres in Leejam clubs across the kingdom
- The joint venture is supported by the Saudi ministry of sport, as it continues to promote initiatives aimed at improving and developing the sports environment in the kingdom
Business
Renault, Nissan approve alliance
The carmakers said that they "rebalanced" their relationship.
- The agreement includes Nissan taking a stake of up to 15 percent in Renault's new electric vehicle venture Ampere
- The Renault board approved the deal on Sunday while Nissan signed off on it on Monday, a week after the agreement was announced
Business
DP World handled 79mn TEU across its container terminals in 2022
The company’s growth was driven by Asia Pacific, the Americas and Australia region, the Group Chairman and CEO Sultan Ahmed...
- The company’s growth was driven by Asia Pacific, the Americas and Australia region, the Group Chairman and CEO Sultan Ahmed Bin Sulayem
- Jebel Ali’s high-margin origin and destination cargo grew by 8.6 percent, with overall volume growth steady at 1.7 percent for the year, the top executive said
Economy
Middle East talent hunt pits UAE against Saudi Arabia
The two biggest economies of the region are leaving no stone unturned to hire the most talented professionals in order...
- Corporate groups are enticing chief executives from corporations in the West with an array of choices, including large joining bonuses and buying out extended notice periods
- Recruiters hiring for Saudi Arabia have a harder time though to convince professionals to relocate to the kingdom than do headhunters recruiting for the UAE
Economy
Dubai’s government, private sector to discuss future at Innovation Talks
DUBAI, UAE - The Innovation Talks series will bring together heads and representatives of Dubai government departments, and experts from...
- The three-day Innovation Talks series will include keynote sessions and knowledge seminars.
- The series emphasizes the importance of innovation, especially in providing services and increasing the effectiveness of procedures.
Business
By 2022 end, Saudi mining complexes in 13 provinces reach 377
Riyadh, Saudi Arabia---Saudi Arabia's Ministry of Industry and Mineral Resources said Sunday that the number of mining complexes in the...
- The Makkah region had the highest number (76) complexes, followed by the Riyadh region with 60 complexes.
- More than 20 different minerals, including gravel, gold, iron, copper, granite and marble, are found in these complexes.
Business
Qatar’s Hamad International Airport aims to beat passenger record
The airport recorded 39.5 million passengers in 2019 before the coronavirus pandemic struck, and last week announced that with the...
- Tourism minister and Qatar Airways chief executive Akbar Al-Baker said capacity restrictions at the airport held back numbers last year.
- The wealthy Gulf state is spending billions of dollars expanding capacity at Hamad airport to 70 million people a year and increasing Qatar Airways routes.
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Masdar targets 100 GW of clean energy by 2030
Abu Dhabi, UAE - Fatima Al Suwaidi, Head of Development & Investment (APAC) at Masdar, has affirmed the company's ambitious...
Business
Company News
Latest News
FTA issues guide to determine natural persons subject to corporate tax
ABU DHABI, UAE - The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural...
Geostrategy
Artists utilize technology against AI copycats
NEW YORK, US - Artists under siege by artificial intelligence (AI) that studies their work, then replicates their styles, have teamed...
Science
Hamriyah, Deira ports report $3.30bn in customs declaration
Dubai, UAE -- Hamriyah and Deira ports have reported 62,454 customs declarations, totaling AED 12.133 billion ($3.30 billion), with 19...
Business
Most Read
Geostrategy
SFD-financed Arkiz Agricultural Project in Mauritania inaugurated
Dubai, UAE -- The Arkiz Agricultural Project in Mauritania, which has been financed by the Saudi Fund for Development (SFD)...
- The project will improve the efficiency of Mauritania's water, irrigation and drainage facilities, while delivering agricultural equipment and potable water to farmers.
- Since 1979, the fund has contributed toward 20 development projects in Mauritania, at a value of over $665 million.
Business
$661m plot of land among weeklong real estate deals in Dubai
The emirate recorded a total of 3,785 real estate transactions worth AED 16.6bn ($4.51 billion) during the week ending 22...
- The sum of the amount of mortgaged properties for the week was 2.29bn, with the highest being a land in Al Safouh Second, mortgaged for AED 509.2 million.
- A total of 216 plots were sold for AED 4.91bn 2,729 apartments and villas were sold for AED 7.49bn. A total of 257 properties were granted between first-degree relatives.
Business
Export Bahrain and HKTDC sign agreement to ramp up trade ties
Manama, Bahrain--Export Bahrain and Hong Kong Trade Development Council (HKTDC) have signed a strategic partnership agreement to strengthen trade ties...
- The agreement between the two sides looks to foster mutually beneficial trade and economic cooperation
- As per the dea, both sides will facilitate access to a wide range of opportunities for enterprises in both countries