US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...
Business
Business
Waha Capital’s profit rises by 23%
The company recorded a full-year revenue of $192m in 2022.
- Its total assets under management stood at $1.74 billion at the end of 31st December, 2022, an increase of 12 percent from the $1.55 billion
- Last year the company was recognised by Forbes Middle East as one of the region’s “Top 30 Asset Management Companies” for the second consecutive year
Business
Emirates and Air Canada sign MoU to boost cargo services
Dubai, UAE-- Emirates SkyCargo and Air Canada Cargo have inked a Memorandum of Understanding (MoU) to provide additional benefits to...
- They will collaborate on a variety of projects, including extending cargo interline alternatives and block space arrangements
- Both have extensive expertise in hauling specialised cargo such as oil and gas drilling equipment, car components, and medicines
Business
A nation or business can’t leave talent off the field
“If you leave people off the field, you have a blind spot – as a country, as a business, in...
- If you are not inclusive as a country, all you are doing is punishing yourself because you are leaving your talent off the field, says Steven Bartlett, a British entrepreneur
- "It is a competitive advantage to be inclusive in the boardroom when key decisions are made because if you are not, you are only hurting yourself," Bartlett adds
Business
Burjeel’s profit surges by 52%
The group's net profit rose to $96 million during 2022.
- The group recorded a revenue of $1.06 billion, up 17% YoY, driven by 125% growth
- Hospital inpatient footfall increased by 17%, outpacing outpatient footfall growth of 15%
Business
UAE MoIAT, Sharjah FDI Office ink MoU to promote investment
SHARJAH, UAE - The UAE's Ministry of Industry and Advanced Technology (MoIAT) and Sharjah Foreign Direct Investment Office (Invest in...
- The aim of the MoU is to support sustainable economic growth within a supportive economic environment.
- The MoU enhances cooperation between MoIAT and the Sharjah Foreign Direct Investment Office (Invest in Sharjah), through work and partnerships
Business
International Defense Conference 2023 to begin in Abu Dhabi
Abu Dhabi, UAE - The International Defense Conference 2023 will be held on 19th February at the ADNOC Business Centre...
- The event will shed light on the rapid development of artificial intelligence and advanced technologies.
- The previous edition of IDC was held in 2021, brought together 24 international experts, over 400 on-ground participants.
Business
Dubai Chamber encourages firms to apply for parent-friendly label
DUBAI, UAE - As many individuals in the UAE face challenges in balancing work and family obligations, parent-friendly workplace policies...
- Working families in the UAE often need to make difficult trade-offs to fulfill their commitments.
- Research has shown that flexible working options are important to 90 percent of the UAE workforce.
Business
Amid record turnout, deals worth $9 billion made at LEAP23
Riyadh, Saudi Arabia–- Investments, launches and announcements valued at more than $9 billion were made at the 2nd edition of...
- A record 300,000 people from more than 100 countries visited the event, making it the largest global gathering for technology and digitization developments in terms of turnout.
- LEAP’s organizers announced that next year’s edition will be held from March 4-7. About 1000 international investors were hosted this year.
Business
Industry experts discuss fintech at Sharjah Investment Forum 2023
SHARJAH, UAE - Financial innovation and technology trends in global financial services sector were in the spotlight during a panel...
- Fintech and traditional financial institutions are intertwined and depend on each other.
- Fintech reaches populations who may not have access to traditional banking system.
Business
Saab 2022 net profit at $211m
Revenue rose as countries boost military spending.
- Order intake for the Swedish company totaled US$6.1 billion in 2022, a 45 percent increase from the previous year.
- They soared by 144 percent in the fourth quarter alone to US$2.8 billion year on year.
US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...
Business
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Tabreed 9M profit at $218m
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Siemens posts record profit
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SEC, Emaar Economic City sign agreements
RIYADH, SAUDI ARABIA - The Saudi Electricity Company (SEC) and its subsidiary National Electricity Transmission (NET) have signed here two...
Business
CES gadget fest a showcase for AI-infused lifestyle
The annual Consumer Electronics Show gathering boasts more than 3,500 exhibitors and is expecting some 130,000 visitors. Companies big and...
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Oil prices slump but stock markets mostly higher
Wall Street indices enjoyed solid gains, including the Dow, which mustered a 0.6 percent advance in spite of an eight...
- US and European oil futures fell around four percent after top exporter Saudi Arabia cut the price of its crude, weighing also on shares of energy majors, analysts said
- Drop in oil prices weighed on energy shares, with Shell down 2.9 percent as investors reacted to mixed trading update ahead of British oil major's annual earnings due next month
Business
Samsung expects profit dip
The tech giant forecasts profit to fall to US$2.1bn for Q4.
- The tech giant said in October that it expected better conditions for the memory market in 2024
- The South Korean firm is expected to release its final earnings report for 2023 at the end of this month
Business
Bitcoin surpasses $47,000, first time since March 30, 2022
Abu Dhabi, UAE - Bitcoin surged above $47,000 on January 9, marking its highest value since March 30, 2022, as...
- Bitcoin, originating in 2008 under the pseudonym Satoshi Nakamoto, operates as a decentralized digital currency
- The robust trading volumes in Bitcoin mining firms signal a heightened investor interest, underlining the increasing prominence of cryptocurrencies