TOURISE 2025: Riyadh to host premier summit for sustainable tourism
Riyadh, Saudi Arabia -- Saudi Arabia's Minister of Tourism, Ahmed Al-Khateeb, has officially unveiled TOURISE, a groundbreaking global platform set...
Business
ADQ, Orion to establish JV
Business
Readying for jobs of tomorrow: WEF’s Till Leopold stresses upskilling
World Economic Forum
Turkey says increasing energy exports to war-torn Syria
Damascus, Syria -- Turkish Energy Minister Alparslan Bayraktar said Thursday in Damascus that his country would ramp up energy exports...
Business
Geostrategy
WTO ministers struggle to forge deals as talks go into overtime
ABU DHABI, UAE – World trade ministers were locked in disagreement Thursday on fisheries subsidies, agriculture and digital customs duties as...
- The meeting opened with disagreements between the body's 164 member states on key issues that dominated the agenda of the talks.
- They include fisheries subsidies, agriculture and a moratorium on customs duties for digital transactions.
Business
Major stock markets trade mixed as US inflation data awaited
London, United Kingdom - Major stock markets traded mixed Thursday before the release of US inflation data that could present a...
- Shares in Air France-KLM slumped nine percent after annual profit fell short of expectations as it fell into a final-quarter loss
- Yen jumped on rising expectations of a hike to Japanese interest rates, as other central banks look to reduce borrowing costs
Business
QFC signs two MoUs
MoUs with BFB, Partior were inked during Web Summit 2024.
- The MoU with Bahrain FinTech Bay establishes comprehensive frameworks for cooperation in joint research projects.
- Under the MoU, each entity shall provide support, assistance and resources to start-ups from the QFC and BFB.
Business
Abu Dhabi residential sector achieves record growth in 2023, says report
ABU DHABI, UAE - Abu Dhabi’s residential sector has witnessed one of the best years on record, where a total...
- The increase in demand for residences has been driven by several positive initiatives and announcements by the government.
- Off-plan transactions accounted for approximately 84 percent of all villa and townhouse transactions.
British Airways profit soars six-fold
The company said it was 92% booked for the first quarter of 2024.
- Profit after taxation jumped to 2.7 billion euros ($2.9 billion) in 2023 from 431 million euros in 2022, the airline conglomerate said in a results statement
- The company also issued a rosy outlook rooted in "robust" demand, adding that it was 92-percent booked for the first quarter of 2024 and 62-percent booked for the first half
Electronic Arts announces job cuts
The company is cutting about 5 percent of its workforce.
- The company behind hits including soccer game "FC24" is also "sunsetting" some titles and stopping development of others it thinks will not be successful
- The annual report Electronic Arts last year indicated it had 13,400 employees, meaning about 670 positions are being eliminated
Business
Egypt signs several MoUs with global developers in renewable energy
Cairo, Egypt--Egypt has signed seven Memoranda of Understanding (MoUs) on Wednesday in green hydrogen and renewable energy with seven global...
- The agreements to set up geen hydrogen projects represent a new step or the Sovereign Fund of Egypt in its partnerships with global companies
- The green projects are expected bring in investments of $12bn for the pilot phase and $29bn for the first phase, for a total of $40bn over 10 years
Business
Air France-KLM posts profit
The airline reported record revenue of US$32.49bn in 2023.
- The airline also posted revenue of $32.49bn, while adding that it had returned to positive equity for the first time since 2019
- The airline alongwith subsidiary Transavia transported a total of 93.6 million passengers last year, up 10.3 million on 2022
Business
Singapore’s Petrozo Energy setting up Sharjah base to target Middle East
Sharjah, UAE – Petrozo Energy, a leading Singapore-based oil and gas company, has announced a plan to establish a new...
- Petrozo operates a global network with offices across Indonesia, India, Thailand, the UAE, Hong Kong, Bangladesh, the USA and other countries
- The company is renowned for its extensive portfolio, producing a variety of products including fuel oils, petrochemicals, bitumin and naphtha
Business
QDB signs MoU with Global Ventures
The collaboration is expected to boost private sector in Qatar.
- The two agreements align with the bank's initiatives to bolster the private sector and create investment opportunities
- The collaboration will enhance the provision of training programs and field training to equip investors and fund managers
TOURISE 2025: Riyadh to host premier summit for sustainable tourism
Riyadh, Saudi Arabia -- Saudi Arabia's Minister of Tourism, Ahmed Al-Khateeb, has officially unveiled TOURISE, a groundbreaking global platform set...
Business
Company News
ADQ, Orion to establish JV
Business
Readying for jobs of tomorrow: WEF’s Till Leopold stresses upskilling
World Economic Forum
Latest News
Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath
World Economic Forum
Tech and sustainability drive Singapore’s smart tourism vision
To realize its vision for “smart tourism”, Singapore Tourism Board is leveraging cutting-edge technologies like artificial intelligence, data analytics, and...
Interview
The Transformative Power of Travel
The framework for future-proofing tourism revolves around three core pillars: People, Planet, and Purpose. This vision is particularly evident in...
Geostrategy
AI’s US$19.9tn contribution: Insights from Tealium on digital economy’s future
By 2030, every dollar spent on AI-powered solutions is expected to generate US$4.60 in economic value, according to global analyst...
Interview
Most Read
Analysis
Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...
- The logistics market revenue in 2023 was US$485 billion by airways, US$2.85 trillion by waterways, US$2.09 trillion by railways and US$3.52 trillion by roadways.
- In the Arabian Gulf countries, the focus of the logistics and transport industry is moving from the UAE to Saudi Arabia.
Interview
The future of luxury residential development needs to be green and smart
The GCC luxury market segment has experienced significant growth, driven by an increase in the number of high-net-worth individuals. Accommodating...
- In the GCC, there's also a real focus on community. Dubai is the United Nations of the world, wherein one residential building might have neighbors from different nations.
- We try to future-proof our building, technologically speaking, to allow people to evolve and go forward, says Belton.
Opinion
New-Age Growth Comes Home to the GCC
The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading...
- The GCC’s ongoing “giga” projects, economic diversification, focus on the digital economy, and emerging technologies all signal a promising future.
- With over US$2 trillion invested in capital-intensive projects, the GCC’s future looks increasingly secure, despite persistent negative portrayals in parts of the Western media.