Emirates expects first 777X delivery in H2 2026
Boeing had pushed back the first delivery to 2026 from 2025.
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.
Company News
ADNOC Gas net income $3.37bn
Business
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AD Ports net profit up
Business
Rolls-Royce makes record deliveries
It delivered 6,032 cars in 2023, the highest in its 119-year history.
Business
Bahrain Steel raises $450m SLL
The company produces and supplies high-grade iron ore pellets.
Business
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Business
ADQ appoints new ADX chairman
The company also appointed two new Board directors.
- Ghannam Butti Al Mazrouei is the Secretary-General of the Emirati Talent Competitiveness Council, where he oversees an AED24bn program.
- Al Mazrouei also serves on the boards of Abu Dhabi Retirement Pensions and Benefit Fund and AafaQ Islamic Finance.
Business
Vinfast to build EV factory in India
It is part of the company's planned US$2bn investment.
- According to a VinFast statement, the facility will be in the southern state of Tamil Nadu
- In August last year, the firm listed on the Nasdaq as its valuation skyrocketed and then crashed
Business
China’s Evergrande says head of EV arm detained
At the time of its establishment in 2019, Evergrande NEV said it aimed to become the world's leading manufacturer of...
- Once China's biggest real estate developer, Evergrande has reported more than $300 billion in liabilities and its troubles have become a symbol of the nation's years-long property
- The firm's electric vehicle arm NEV said Monday that Liu Yongzhuo - listed on its website as its president - had "been detained in accordance with the law on suspicion of illegal