Ajman real estate transactions reach $560 million in March
Ajman, UAE --Â Real estate transactions in Ajman reached AED 2.06 billion ($560 million) in March 2025, marking a significant...
Business
Business
Tabreed ups foreign ownership limit
The limit will increase from 49% to 100%.
- Tabreed shareholders, in September, gave a go-ahead to remove the limit of shares that foreigners can invest in.
- It reported a net profit of US$65.4 million for the first half of the year, an increase of 3 percent compared to a year ago
Business
Nike shares soar as profits top estimates
Profits for the Q1 came in at $1.3 billion.
- Profits for the quarter ending at November 30 came in at $1.3 billion, the same as in the year-ago period while revenues jumped 17 percent to $13.3 billion
- In the most recent quarter, Nike's gross margin declined compared with the prior quarter due to higher markdowns, especially in North America, Nike said.
Business
Musk doubtful about reliability of Twitter CEO poll
In the poll results which were posted on Monday, 57 percent of voters, or 10 million votes, favored Musk stepping...
- In the poll results which were posted on Monday by the Twitter's new CEO, 57 percent of voters or 10 million votes favored Musk stepping down
- Polling company HarrisX on Tuesday tweeted out their own poll of Twitter users, in which 61 percent of respondents voted to keep Musk as CEO
Business
Sonatrach signs deal with VNG AG to boost ties in hydrogen sector
Algiers, Algeria-- Sonatrach of Algeria and VNG AG of Germany have signed a memorandum of understanding for the construction of...
- According to the Algerian authorities, the proposed plant will have a production capacity of 50 MW
- Sonatrach said the agreement will explore opportunities for cooperation in the field of hydrogen and of green ammonia to be exported to Germany
Business
AstraZeneca partners with G42
The two will manufacture 'innovative' drugs in Abu Dhabi.
- The agreement focuses on collaboration in four key areas including localizing innovative industries, research and development, innovation and sustainability at a global scale
- It cements the emirate’s position as a hub for research and innovation in life sciences and is the latest in a series of longstanding partnerships with key players in the industry
Interview
‘OPEC+ predictions more accurate as it focuses on market fundamentals and stays away from politics’
In all economic spheres from financial to commodities, credibility is a key ingredient to building the trust and confidence that...
- Playing politics with statistics and forecasting and not maintaining objectivity tend to backfire and result in loss of credibility, says Saudi Energy Minister Prince Abdulaziz
- OPEC+ has maintained its demand figures for 2021 while some others have grossly and consistently underestimated historical and current demand resulting in discrepancies
YEARBOOK 2023
GCC cautious as more cyber attacks feared in 2023
Businesses in the region are working closely with their governments to get cloud security solutions implemented to reduce the success...
- Increased use of cloud-based apps and software has been observed in the GCC due to the businesses undergoing digital transformation
- Businesses in the region are working closely with their governments to get cloud security solutions implemented to reduce the success rates of phishing attempts
Business
European Union to end two Amazon inquiries after agreement
Amazon, and its software, will be forbidden from analyzing non-public third-party seller data, and will treat all sellers equally when deciding...
- EU vice-president Margrethe Vestager announced Amazon's commitments and hailed them as a victory for smaller retailers selling products on Amazon's online marketplace.
- An Amazon spokesperson said the firm, which operates the world's biggest online store, was pleased to have responded to the European Commission's concerns.
Business
Nearly 2,000 business executives attend World Corporate Summit in Dubai
DUBAI, UAE - Nearly 2,000 global business executives and investors attended the World Corporate Summit in Dubai to share in...
- The business leaders were also building partnerships with over 100 roundtables, 20 networking sessions.
- The summit took a 360-degree view at ways to improve the world economy.
Business
Antibiotics shortages hit nations as surging illnesses spur demand
Hospitals in many countries have come under pressure from a rising number of illnesses including what has been dubbed a...
- But ramping up production of antibiotics has proved difficult for drug makers, particularly for cheap generic medicines that offer a slender profit margin.
- Pharmaceutical companies who had cut back production because of the previously falling demand are now scrambling to meet skyrocketing orders, causing delays.
Ajman real estate transactions reach $560 million in March
Ajman, UAE --Â Real estate transactions in Ajman reached AED 2.06 billion ($560 million) in March 2025, marking a significant...
Business
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South Korea posts 32% jump in export of eco-friendly vehicles
Seoul, South Korea--South Korea's exports of eco-friendly vehicles surged 32.5 percent year-on-year to a record high during the first 11...
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FTA issues guide to determine natural persons subject to corporate tax
ABU DHABI, UAE - The Federal Tax Authority (FTA) has issued a new guide outlining the criteria to determine natural...
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Artists utilize technology against AI copycats
NEW YORK, US - Artists under siege by artificial intelligence (AI) that studies their work, then replicates their styles, have teamed...
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Oman to expand production of green hydrogen to boost non-oil economy
Hong Kong - The government of Oman’s targets to expand local green hydrogen production could support key credit metrics, such as...
- The government aims to raise renewable energy-based hydrogen production to at least one million metric tonnes (mt)/year by 2030.
- Local state-owned enterprise Hydrogen Oman (Hydrom) signed six investment agreements, worth over US$38 billion, with partners in 2023.
Geostrategy
SFD-financed Arkiz Agricultural Project in Mauritania inaugurated
Dubai, UAE -- The Arkiz Agricultural Project in Mauritania, which has been financed by the Saudi Fund for Development (SFD)...
- The project will improve the efficiency of Mauritania's water, irrigation and drainage facilities, while delivering agricultural equipment and potable water to farmers.
- Since 1979, the fund has contributed toward 20 development projects in Mauritania, at a value of over $665 million.
Business
$661m plot of land among weeklong real estate deals in Dubai
The emirate recorded a total of 3,785 real estate transactions worth AED 16.6bn ($4.51 billion) during the week ending 22...
- The sum of the amount of mortgaged properties for the week was 2.29bn, with the highest being a land in Al Safouh Second, mortgaged for AED 509.2 million.
- A total of 216 plots were sold for AED 4.91bn 2,729 apartments and villas were sold for AED 7.49bn. A total of 257 properties were granted between first-degree relatives.