Tariffs could lift Boeing and Airbus plane prices even higher
New York, United States -- Commercial plane prices, already lifted in recent years due to pandemic supply chain shocks, are...
Business
Future-proofing hospitality asset value needs financial rigor with emotional intelligence
The GCC’s luxury hospitality sector has become a global benchmark, yet behind every polished facade lies an increasingly complex financial...
Opinion
Market Report
Stocks mostly rise ahead of key US jobs data
Stock markets mostly advanced as traders awaited key US jobs data and after news of falling inflation in the eurozone....
- The Fed along with central banks worldwide last year kickstarted a string of aggressive rate hikes to battle decades-high inflation.
- Official data showed that annual inflation in the eurozone dropped for a second month in a row, to 9.2 percent in December.
Business
DEWA wins award at Global Excellence Assembly Awards 2022
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) has been awarded  with the Global Excellence Assembly Awards 2022, based...
- DEWA is the only entity worldwide to win this category in the second round of the award this year.
- DEWA scored 94 percent in the evaluation conducted by the International Council of Excellence according to the Baldrige model.
Business
Dubai records over $762 million in realty transactions Thursday
Dubai, UAE---Dubai real estate market recorded deals worth AED2.8 billion ($762 million) on Thursday, Dubai Land Department said. These included...
- These included 516 sales transactions worth AED1.73 billion, in addition to 71 mortgage deals of AED596.74 million.
- The sales included 455 villas and apartments worth AED1.5 billion, and 61 land plots worth AED235.09 million.
Economy
Saudi Arabia, Clarity AI ink MoU to develop sustainability in private sector
Under the MoU terms, the Ministry of Economy and Planning and Clarity AI will work together to explore potential areas...
- Under the MoU terms, the Ministry of Economy and Planning and Clarity AI will work together to explore potential areas of cooperation, such as using big data
- They are discussing cooperation in training Saudi cadres to understand and analyze sustainability data, and participate in events and activities of common interest
More political storms for TikTok after US government ban
Owned by Chinese tech giant ByteDance, TikTok has become a political punching bag for US conservatives who allege that the...
- Democrats have joined the groundswell of criticism and Joe Biden last week signed a new law that bans the use of TikTok on government-issued devices
- The mood towards TikTok soured last month when ByteDance was forced to admit that employees improperly accessed TikTok data to track journalists
Business
Abu Dhabi Islamic Bank raises its ownership in ADIB Egypt to over 52%
ADIB stated that it had acquired 9.6 million shares from National Investment Bank, in a disclosure to the Abu Dhabi...
- ADIB stated that it had acquired 9.6 million shares from National Investment Bank, in a disclosure to the Abu Dhabi Securities Exchange (ADX) on Thursday
- In the third quarter of last year, ADIB reported its highest quarterly net profit of more than $0.27 billion as impairments dropped and operating income rose
Business
Samsung Electronics flags sharp Q4 profit drop on falling demand
to further tighten finances spurred by concerns over deteriorating consumer sentiment caused [by] continued high global interest rates and weak...
- The South Korean tech giant said operating profits for the October-December period likely slumped to $3.4 billion, a stinging year-on-year drop from 13.87 trillion
- In a statement, Samsung said fourth-quarter profits were "well below current market expectations", blaming the performance on macroeconomic issues
Opinion
Gold jumps out of the gate to kick off 2023
Traders' conviction at the beginning of a new trading year always tends to be low for fear of catching the...
- Gold, together with silver and platinum, is among a few commodities trading up as the new year gets under way, writes Ole S Hansen, the Head of Commodity Strategy at Saxo Bank
- Gold’s newfound resilience and momentum from December has been carried over to January as investors seek shelter from what has been forecast to be another overall challenging year
Economy
Lawyers protest in Tunisia against new taxes on legal services
Tunis, Tunisia - Dozens of Tunisian lawyers protested on Thursday against newly imposed taxes on legal services, part of a 2023...
- Led by Bar Association head Hatem Mziou, lawyers gathered outside the Palais de Justice in Tunis as well as other sites, after the association called for a "day of rage".
- The budget, unveiled last week, imposes new taxes to claw the North African country's deficit back to near five percent of GDP, as it awaits an international bailout.
Business
Alpha Dhabi and Mubadala form JV
They will co-invest in global credit opportunities.
- Mubadala will hold 80 percent ownership in the Abu Dhabi Global Market-based joint venture entity, with the remaining 20 percent to be held by Alpha Dhabi.
- The venture will leverage Mubadala’s long-term and strategic partnership with Apollo, one of the world’s largest alternative asset managers.
Tariffs could lift Boeing and Airbus plane prices even higher
New York, United States -- Commercial plane prices, already lifted in recent years due to pandemic supply chain shocks, are...
Business
Company News
Empower 9M revenue $618m
Business
BMW Q3 profit drops 7.7%
Business
Latest News
SAIC 9M net profit 38%
Business
Norway fund drops Aramco, 11 other Gulf firms over ’rights concerns’Â
KLP, which manages over 700 billion kroner ($70 billion), said the exclusion amounted to $15 million. The fund dropped 11...
Geostrategy
UAE farm harvests $5.6m from carbon credits in eco-friendly agriculture triumph
Dubai – An innovative agricultural project in the United Arab Emirates, has generated $5.6 million euros from carbon credit sales. The...
Business
Most Read
Geostrategy
UAE’s budget carrier Air Arabia to launch daily flights to Kabul
Last month flydubai, another low-cost Emirati airline, became the first international carrier to resume flights to Afghanistan since the chaotic...
- Last month flydubai, another low-cost Emirati airline, became the first international carrier to resume flights to Afghanistan
- Last year, GAAC signed a contract to manage Afghanistan's air traffic, an agreement that was expected to bring back international airlines
Business
AD Ports, RSPA to develop and operate terminal in Egypt’s Safaga Port
Cairo, Egypt -- AD Ports Group (AD Ports) has signed a concession agreement with the Red Sea Ports Authority (RSPA)...
- The Safaga Port definitive agreement, sanctioned under the Law on the Granting of Commitment Contract issued on 1st November 2023, will see an investment of US$200 million.
- The terminal, spanning approximately 810,000 square meters, will feature a 1,000-metre quay wall and will handle diverse cargo types.
Business
Cornerstone laid for $40 million logistics park at King Abdulaziz Port
Riyadh, Saudi Arabia -- The cornerstone was laid for an integrated SAR150 million ($39.99 million) Logistics Park at Dammam's King...
- The area of the new park is 100,000 sq. meters, with capacity of 300,000 TEUs annually.
- It aims to facilitate the growth of shipping connectivity, and global logistics services, and to raise the quality and efficiency of services.