Public-Private collaboration is crucial to tackling physical inactivity crisis: WFSGI CEO Emma Zwiebler
Emma Zwiebler, CEO of the World Federation of the Sporting Goods Industry (WFSGI), sat down exclusively with TRENDS at the...
Business
Masdar targets 100 GW of clean energy by 2030
Abu Dhabi, UAE - Fatima Al Suwaidi, Head of Development & Investment (APAC) at Masdar, has affirmed the company's ambitious...
Business
Arts & Culture
AI game gains popularity during Chinese New Year festivities
SHANGHAI, CHINA - Young Chinese flocking home for Lunar New Year this weekend have turned to an AI chatbot game to...
- The new game uses an AI chatbot to simulate the barrage of squirm-inducing questions young people can expect to face.
- The annual inquisition as extended families gather for China's biggest festival is a cultural touchstone across the country.
Business
Barclays bank to stop financing new oil, gas projects
London, United Kingdom -- British bank Barclays said Friday it would stop directly financing its energy clients' new oil and gas...
- The bank added it would scale back lending for existing fossil fuel projects as the sector faces intense pressure from activist investors to help tackle climate change.
- The British lender's move to curb financing of oil and gas projects follows similar announcements from European bank heavyweights BNP Paribas, Credit Agricole, HSBC and ING.
Business
Etihad Atheeb 9M profit $47m
Higher revenues from various segments boosted profit.
- Allowance for impairment in trade receivables and finance charges (FCs) declined during the same period, Argaam reported.
- On a quarterly basis, the telecom operator's third quarter leapt from SAR 47.9 million in Q2 2023/24.
Business
DMCC witnesses 10 percent rise in US companies in 2023
DUBAI, UAE – DMCC successfully concluded its most recent Made for Trade Live tour of the US, hosting events in...
- DMCC sees opportunity for American businesses in Dubai after the success of the latest Economic Policy Dialogue held between the US and UAE
- The events saw 100 American executives attend in which speakers advised on the opportunities on offer to American businesses in the UAE
Business
Aramex Q4 net profit doubles
The firm reported a marginal YoY decline in Q4 revenue.
- Aramex said the revenue growth in International Express was offset by the decline in revenues from other products.
- The company posted a 2 percent YoY growth in gross profit for Q4 2023, reaching AED 389 million and remained stable for the full year.
Business
Hermes profit soars 28 percent
The luxury giant posted a profit of US$4.6bn in 2023.
- The company will disburse a 4,000-euro bonus to all employees early this year as part of "its policy of sharing the fruits of growth"
- Its sales climbed 14.5% in Japan and 12.9% in the rest of the Asia-Pacific region, with the group opening its 33rd store in China
Economy
OPEC Fund grants US$30m loan to Uganda to build key road link
Vienna, Austria--The OPEC Fund for International Development (OFID) has granted a US$30 million loan to support the development of a...
- The construction of the road will provide better, faster and safer transport connections in the central-east region of the country
- The Islamic Development Bank (IsDB) along with the government of Uganda will co-finance the road project in the African nation
Business
L’Oreal net profit jumps 8.4%
The company's profit surged to US$6.8bn last year.
- The cosmetics giant in statement said its net profit jumped to $6.8 billion while sales grew 7.6 percent
- In North Asia, its sales fell 5.8 percent to $11.52bn, but in South Asia sales jumped 23.2 percent to $3.66bn
Business
GCC retail pins hope on customer loyalty programs
Retailers in the region are relying on card-linked offers, utilizing data analytics, mobile apps, and blockchain to enhance engagement and...
- Retailers in the region are relying on card-linked offers, utilizing data analytics, mobile apps, and blockchain to enhance engagement and personalize shopping experiences.
- The sector are overcoming integration challenges through education, and embracing new market trends like personalized offers, digital wallets, and gamification in loyalty programs.
Business
Emaar 2023 revenue at $7.3bn
Emaar property sales rose to US$ 11 billion in 2023.
- Emaar also achieved 63 percent growth in EBITDA, reaching US$4.4 billion (AED 16 billion) during 2023 as compared to 2022.
- This performance was supported by growth in tourism, a continued upward trend in retail sales and a consistent increase in real estate demand.
Public-Private collaboration is crucial to tackling physical inactivity crisis: WFSGI CEO Emma Zwiebler
Emma Zwiebler, CEO of the World Federation of the Sporting Goods Industry (WFSGI), sat down exclusively with TRENDS at the...
Business
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Investcorp Capital names new CFO
Business
Electric cars credited with lower CO2 emissions in US neighborhoods
LOS ANGELES, US – The booming use of electric vehicles in parts of California is reducing CO2 emissions in those areas,...
Business
Britain expands investigation into Vodafone-Three UK merger
London, United Kingdom - Britain's competition regulator deepened Thursday its probe into Vodafone's planned merger of British mobile phone operations with...
Business
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Business
RAKBANK, DP World sign pact
The aim is to offer trade finance solutions to businesses in UAE.
- This strategic partnership leverages DP World's extensive trade network and real-time data insights.
- It empowers RAKBANK with enhanced risk assessment capabilities and streamlined access to financing.
Business
Apple explores making personal robots
It is working on a robot that may be helpful to people.
- Apple is reported to have transferred employees from the shuttered car division to generative artificial intelligence projects
- The robot project is being overseen by Apple’s hardware engineering division and its AI and machine learning group
Business
OPEC+ decides to keep oil production levels unchanged
Vienna, Austria--The participants of the 53rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum...
- The Joint Ministerial Monitoring Committee of OPEC+ agreed to keep current oil production levels unchanged
- It lauded Russia for announcing that its adjustments in the next few months will be based on production instead of exports