Business

Agthia 9M profit nearly triples

Third-quarter revenue increased 14.4 percent.

UAB nine-month profit rises 6%

Loan growth, lower impairment charges boost earnings

du 9M profit up 10.8%

Revenue grows as connectivity demand supports earnings

Al Rajhi Bank 9M profit up

Revenue growth lifts earnings despite higher provisions

Mashreq prices Dim Sum bond

UAE bank raises offshore renminbi funding

Abu Dhabi Chamber enhances digital Effortless Certificate of Origin service

ABU DHABI, UAE - Abu Dhabi Chamber of Commerce and Industry (ADCCI) has launched the updated version of its Effortless...
  • The Abu Dhabi Program for Effortless Customer Experience supports Abu Dhabi’s human-centric approach.
  • It enables everyone living and working in the emirate and visitors to carry out tasks quickly, seamlessly and effortlessly.

Investcorp set to invest $1bn in GCC real estate over next five years

The investment in the Dammam warehouse will bring the value of Investcorp’s global warehousing logistics investments to over $4 billion.

Saudi ministry signs hospitality, catering MoUs with 3 firms

Riyadh, UAE---Saudi Arabia's Ministry of Investment has signed MoUs with three companies to develop and market investments in hospitality, tourism,...
  • The MoUs were signed with Kadana Company, Lifestyle Development Company and Jusoor Al-Khaleej Company.
  • The investment ministry is keen to attract investments and enhance their flow into the national economy in various sectors, SPA reported.

UK data shows retailers boosted by higher Christmas prices

London, United Kingdom--British retailers won a boost from higher prices over the key Christmas trading period but the volume of goods...
  • In December, revenue jumped almost seven percent from a year earlier largely thanks to surging food prices
  • UK inflation dipped last month to 10.7 percent but remains close to 40-year highs, forcing consumers to switch to cheaper products

DIFC hosts over 250 companies managing assets worth $450bn

The contribution of financial companies operating from DIFC to the financial services sector in the country exceeded 13% of the...
  • The contribution of financial companies operating from DIFC to the financial services sector in the country exceeded 13% of the nominal GDP of Dubai during 2021, Amiri said
  • The DIFC has already been ranked first in the Middle East and among the top 20 globally on the Global Financial Centres Index for 2022

MENA IPO Summit to attract top industry experts

Dubai, UAE-- Top industry experts will share first-hand knowledge of the IPO process and the opportunities and challenges of becoming...
  • The inaugural summit will shed light on the strong impetus and promising prospects of the initial public offerings (IPOs) sector in Dubai.
  • It will also showcase a roadmap for startups and SMEs in Dubai, including expertise around its regulatory environment, business culture and capital opportunities

Top US court backs WhatsApp suit over Pegasus spyware

WhatsApp sued the Israeli technology firm in 2019, accusing it of targeting approximately 1,400 devices with spyware to steal information...
  • Pegasus gives its government customers -- which have allegedly included Mexico, Hungary, Morocco and India -- near-complete access to a target's device
  • WhatsApp sued Pegasus in 2019, accusing it of targeting approximately 1,400 devices with spyware to steal information from people using the app

Rolls-Royce sells record cars

Sales last year advanced eight percent to a record 6,021 cars.
  • "2022 has been a momentous year for Rolls-Royce Motor Cars," said chief executive Torsten Muller-Otvos.
  • Orders for Spectre, its first all-electric car that launches later this year, beat expectations, the company reported.

European wages to increase at ‘very strong’ rate, says ECB

"Robust labour markets" alongside "increases in national minimum wages" and "trade unions demand(ing) higher wage increases" are also set to...
  • Wage growth over the next few quarters is expected to be very strong compared with historical patterns, the ECB said.
  • In December, inflation in the eurozone dipped under the symbolic figure of 10 percent, after 18 months of uninterrupted increase

Ronaldo to earn $214 million to promote Saudi World Cup bid

The oil-rich kingdom, along with Egypt and Greece, is considering a bid to host world football's 2030 showpiece tournament, and...
  • The arrival of the former Manchester United, Real Madrid and Juventus player came just weeks after neighbouring Qatar became the first Arab nation to host the World Cup.
  • Al Nassr has nine Saudi league titles but never won the Asian Champions League, unlike four-time winners Al Hilal and Al Ittihad, who have lifted the trophy.

UAE foreign trade increases by 49% to reach $1.42 trillion in 2024

The UAE climbed from 17th to 11th globally in merchandise exports and from 18th to 14th in imports between 2021...

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ACC holds workshop in Jordan on dangers of human trafficking

AMMAN, JORDAN - Amman Chamber of Commerce (ACC), in cooperation with Ministry of Justice and Jordan Judicial Council (JJC), organized...

Excel Astra to build facility in KEZAD

The fabrication unit will cost the firm US$5.44m.

Saudi EXIM Bank ink $51bn deal with Turkish firms

Riyadh, Saudi Arabia - Saudi EXIM Bank signed line of credit agreements worth $51 million with Türkiye Finans Katılım Bankası...

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Google agrees to settle $5bn data privacy breach lawsuit

Google has agreed to settle a consumer privacy lawsuit seeking at least $5 billion in damages over allegations it tracked...
  • The lawsuit, filed in a California court, claimed Google's practices had infringed on users' privacy by "intentionally" deceiving them
  • Lawyers for the plaintiffs were seeking at least $5,000 for each user it said had been tracked as they visited Google Analytics in private browsing mode

Saudi’s Maaden announces discovery of new gold reserves

Riyadh, Saudi Arabia - Saudi Arabian Mining Company (Maaden) on Thursday announced a discovery of substantial gold reserves, marking a...
  • The company's exploration program has led to discovery of a gold resource potential spanning across a 100-kilometer stretch from the existing Mansourah Massarah gold mine
  • As of year-end 2023, Mansourah Massarah boasted nearly seven million ounces of stated gold resources and a nameplate production capacity of 250,000 ounces annually

Huawei says expects higher revenue

The company is leading equipment manufacturer for 5G.
  • Sanctions since 2019 have cut the firm off from access to US-made components and technologies, forcing it to diversify its growth sources
  • In 2023, the group expected revenues of more than 700 billion yuan ($99.2 billion), Hu said - an increase of nearly nine percent from last year