Troubled Boeing faces investors and awaits strike vote
Boeing, the beleaguered aviation giant announces what is expected to be its biggest quarterly loss in four years, and striking...
Business
Bank Albilad posts net profit
Business
Volvo Cars posts profit
Business
US considering Google breakup following monopoly ruling
The US Department of Justice (DOJ) made recommendations for Google’s search engine business practices on Tuesday, according to US media....
Business
Business
Meta to disallow ads targeted at teens based on gender
The company formerly known as Facebook is facing increasing pressure and fines to curb its practice of delivering narrowly targeted...
- Meta said that the changes reflected feedback from parents and experts and would comply with new rules in several countries on content geared at young people
- After a long legal tussle, Meta was handed a 390-million-euro ($413-million) fine last week as part of a years-long tussle with the European Union over advertising
Business
Foreign assets up 0.41% to $116bn in October 2022
The latest statistics of the Central Bank attributed the monthly increase in foreign assets to the rise in bank balances...
- The latest statistics of the Central Bank attributed the monthly increase in foreign assets to the rise in bank balances with banks abroad by 2.2 percent
- Central Bank statistics indicated that other foreign assets reached AED58.12 billion at the end of last October, a decrease on a monthly basis of 8.3 percent
Business
Dubai Chamber of Commerce launches printing and publishing unit
Dubai, UAE--Dubai Chamber of Commerce has launched the printing and publishing business group to boost the sector’s competitiveness and support...
- According to Sharjah Publishing City, the UAE’s publishing sector is expected to grow to US$650 million by 2030
- The newmbusiness group is part of the chamber’s plans to increase the number of business groups that represent economic sectors and activities in Dubai
Opinion
Modern management tools help employers manage operations in greater depth & detail, even remotely
As Emiratization and Saudization requirements are mandatory for all businesses operating in the region, and large expatriate workforces are also...
- In the fast-paced and adapting modern world, businesses must strive to stay on-top of ever-changing regulations and environments in which they operate
- Technology is helping to maintain business organization through detailed management software, to structure, analyse, review, assess and monitor employees as well as businesses
Business
Airbus tops Boeing in 2022 plane orders
Airbus sold 661 planes as against Boeing's 480.
- In terms of deliveries, Airbus finished the year having 661 planes arrive with clients, much higher than Boeing's 480
- Both companies have been forced to reset expectations about their capacity to build planes as quickly as the industry would like
Business
Privacy remains key concern as facial recognition technology makes GCC travel sector secure, efficient
Face and iris recognition technology vary by country in the region, and expecting it to be implemented in many airports...
- Facial recognition techniques vary in each country, and expecting it to be implemented in many large airports around the world in a short time is unrealistic, says an expert
- People and organizations involved in the passenger moving process must strike a proper balance in terms of how they can begin implementing biometric technologies, he adds
Economy
Saudi Arabia’s industrial production rose 8.6% in November 2022, says GASTAT
RIYADH, SAUDI ARABIA - The General Authority for Statistics (GASTAT) published Tuesday on its official website the results of the...
- In November 2022, mining and quarrying grew by 5.7 percent compared to November 2021.
- Manufacturing activity increased by 19.7 percent compared to the same month of the previous year.
ADNOC Gas set up as processing, operations and marketing firm
ADNOC said the company combines the operations, maintenance and marketing of the ADNOC Gas Processing and ADNOC LNG businesses into...
- Ahmed Mohamed Alebri has been appointed as Chief Executive Officer (Acting) of ADNOC Gas, Peter Van Driel as Chief Financial Officer, and Mohamed Al Hashemi as COO.
- As announced in November 2022, ADNOC intends to proceed with an initial public offering of a minority stake in ADNOC Gas on ADX.
Business
Masdar inks deal to produce 1GW of clean energy in Kyrgyzstan
ABU DHABI, UAE - Masdar has announced the signing of an agreement with the Ministry of Energy of Kyrgyz Republic...
- The projects, with a total capacity of up to 1 gigawatt (GW), start with a 200-megawatt (MW) solar photovoltaic (PV) plant.
- The 200 MW plant is scheduled to begin operation by 2026.
Market Report
Stocks mostly drop as traders track China, US rates
Major stock markets mostly dropped as warnings that US interest rates would continue to rise and remain elevated offset growing...
- Sentiment is still closely linked to the outlook for US monetary policy as the Federal Reserve battles to bring inflation down from four-decade highs.
- Policymakers appear determined to keep lifting borrowing costs until they achieve their goal of two percent inflation.
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Troubled Boeing faces investors and awaits strike vote
Boeing, the beleaguered aviation giant announces what is expected to be its biggest quarterly loss in four years, and striking...
Business
Company News
Ghitha Holding Q3 profit of $33m
Business
Bank Albilad posts net profit
Business
Volvo Cars posts profit
Business
Latest News
Mercedes-Benz profit slumps
Business
ADCB profit up 22 percent
Business
Tabreed gets US$163m Green Revolving Credit Facility
ABU DHABI, UAE - Tabreed on Thursday announced the successful closure of its inaugural US$163 million (AED600 million) Green Revolving...
Business
Saudi ministry explores investment with Chinese groups in aquaculture
Shenzhen, China - Saudi Ministry of Environment, Water and Agriculture discussed ways to enhance investments between the Kingdom and China...
Business
Most Read
Economy
Mawani gets 79.01 points in UNCTAD’s Liner Shipping Connectivity Index for Q4 2023
RIYADH, SAUDI ARABIA – The Saudi Ports Authority (Mawani) attained its highest improvement in the UNCTAD's Liner Shipping Connectivity Index...
- This development aligns with the objectives of the National Transport and Logistics Strategy (NTLS).
- This achievement adds to the recent major records, including a score of 77.66 during Q3.
Business
MBC IPO retail subscription begins
MBC Group runs a group of TV and radio channels.
- The subscription process for the retail tranche of MBC Group will run for five days until December 18.
- The Capital Market Authority approved, on November 21, the company's request to float 33.25 million shares in an IPO.
Business
OPEC+ cartel’s grip on oil market loosening as demand slows: IEA
Slowing demand growth and rising US crude production will make it more difficult for OPEC+ to continue to prop up...
- The Paris-based IEA, which advises oil-consuming nations, noted that prices had fallen by around $25 per barrel since September highs.
- Efficiency improvements and a booming electric vehicle fleet have also been lowering oil demand, it added.