BYD surpasses Tesla with record revenue
The Chinese EV giant's net profit was $5.55 billion for 2024.
Business
DEWA okays $843m in H2 2024 dividend
DEWA had posted a net profit after tax of $1.96 billion for the full year 2024.
Business
Business
ECI reviews programs, initiatives to align them with ‘Projects of the 50’
Dubai, UAE— Etihad Credit Insurance (ECI) has reviewed its programs and initiatives in a meeting chaired by Abdulla bin Touq...
- Abdulla bin Touq Al Marri commended ECI’s commitment to protecting foreign investments of local businesses and its efforts to enhance UAE exports
- Al Marri said the UAE has achieved significant milestones at the regional and global levels, establishing its position as a leading hub of trade and investment in the region
Business
Al Seer Marine orders 4 new tankers
South Korea's K Shipbuilding will deliver the tankers in 2024.
- K Shipbuilding will construct the medium-range (MR) IMO II/III product tankers at Jinhae Shipyard.
- With these four tankers, Al Seer Marine fleet now totals 12 vessels as the company prepares to transport the transition fuels like methanol.
Business
Google agrees to pay US$392m in a privacy settlement
A statement said it was the largest multi-state privacy settlement by state authorities in US history and included a binding...
- A joint lawsuit by 40 states grew from impatience over the failure of federal authorities to crack down on big tech amid legislative gridlock in Washington
- Since 2018, the US tech giants have faced strict rules in Europe, with Google, Amazon and others subjected to hefty fines over privacy violations
Business
Amazon to layoff 10,000 employees: report
The layoffs would follow an aggressive hiring spree. With business booming due to the coronavirus pandemic, as cooped up people...
- This represents a little less than one percent of the group's total payroll, which had 1.54 million employees worldwide at the end of September
- It doesn't include seasonal workers who are recruited during periods of increased activity like the Christmas holidays
Business
Twitter prank focuses unexpected spotlight on insulin prices
The backlash against Eli Lilly showcased the real-life potential of online disinformation to trigger chaos and financial loss. The company's...
- Eli Lilly stock price tumbled after a parody account stamped with a verification tag purchased for $8 tweeted that insulin was being made available for free
- The prank sparked panic inside Eli Lilly, with officials scrambling to contact Twitter representatives to take it down, but the platform did not react for hours
Geostrategy
UAE urges global efforts for trade at B20 Summit in Indonesia
BALI, INDONESIA - Speaking at the B20 Summit in Bali, Indonesia, Minister of State for Foreign Trade Dr. Thani bin...
- The UAE is working to help the global economy overcome current and future challenges.
- The economy of the future will be based on knowledge and innovation.
Business
Jeff Bezos to donate most of $124 billion fortune to charity
Amazon founder Jeff Bezos for the first time said he will give away most of his $124 billion fortune to...
- In a CNN interview released on Monday, Bezos said he and his partner Lauren Sanchez were "building the capacity to be able to give away this money."
- Asked whether he intended to donate most of his wealth within his lifetime, the 58-year-old Bezos said: "Yeah, I do."
Business
Emaar 9M revenue at US$5.1bn
Robust property sales helped firm enhance revenue.
- Emaar said that EBITDA in 9M 2022 increased by 47 percent to US$ 2.3 billion
- The property giant said net profit in 9M 2022 increased by 124 percent to US$ 1.6billion.
Business
ADNOC Drilling 9M net profit $568m
Onshore revenue for the period was $1.074 bn, up 25% YoY.
- The third quarter revenue was $372 million, up 33 percent year-on-year.
- Offshore revenue for the nine-month period was $431 million, broadly flat versus the prior year.
Geostrategy
UN chief hopeful Russia will extend grain deal
United Nations Secretary-General Antonio Guterres hoped Russia would extend the deal that gives safe passage to Ukrainian grain shipments. The...
- Russia has said it had yet to decide whether to extend the grain deal beyond November 19, the original date in the agreement.
- Both Ukraine and Russia are one of the world's top grain producers.
BYD surpasses Tesla with record revenue
The Chinese EV giant's net profit was $5.55 billion for 2024.
Business
Company News
Sipchem 9M net profit down 67%
Business
United Airlines Q3 profit up
Business
Latest News
SABIC announces 16% H2 cash dividend
The dividend of $1.27 billion is payable on Mar 4, 2024.
Business
PureHealth offer price $0.89 per share
The IPO witnesses demand of over AED 265bn ($72.15bn).
Business
Microsoft and US labor group join hands on AI
The alliance comes as workers and governments are fretting over the potential repercussions of AI on work, with fears that...
Business
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Business
ADX and Abu Dhabi Housing Authority sign agreement to boost data exchange
Abu Dhabi, UAE--The Abu Dhabi Securities Exchange (ADX) and the Abu Dhabi Housing Authority signed a service level agreement to...
- The agreement between the two entities is designed to enhance service and improve overall customer experience for Emiratis
- It will simplify the method used for accessing investor data on ADX, benefiting from Abu Dhabi Housing programs with increased efficiency
Business
Riyadh Season draws 9 million visitors to its entertainment zones
Riyadh, Saudi Arabia - The number of visitors to Riyadh Season has surged to over 9 million, indicating a significant...
- Riyadh Season, marked by the slogan "Big Time," completed the spectrum of entertainment choices with top-tier events and festivals across various zones
- Boulevard City zone emerged as a site filled with entertainment options, along with Boulevard World which features a variety of international cultures
Business
Silal and MBZUAI sign MoU
The agreement will bring AI innovation to food production.
- The two sides will create a framework for the transfer and commercialisation of research, including support for startups and business spinouts
- The agreement corresponds with the National Strategy for Food Security 2051 to develop a national system based on enabling sustainable food production