Dar Alarkan 2024 profit up 32%
The company's net profit increased by 81.5 percent in Q4 2024.
Business
Nvidia showcases AI chips as it shrugs off DeepSeek
San Francisco, United States - Nvidia chief Jensen Huang is expected to showcase cutting-edge chips for artificial intelligence (AI) and...
Business
Business
Twitter suspends verified accounts impersonating @elonmusk
A decision that will likely raise question marks over its commitment to free speech, Twitter has suspended many verified accounts...
- Comedian Kathy Griffin, whose blue-ticked account has two million followers, was among those who were locked out after crossing the mercurial CEO
- Actions so far have included firing half the firm's global workforce, and announcing an $8 a month charge for the previously free blue tick verification
Economy
China sees steady foreign trade growth in first 10 months
The European Union and the United States were China's second-largest and third-largest trading partners during the period, respectively.
- The European Union and the United States were China's second-largest and third-largest trading partners during the period, respectively
- China's trade with countries and regions participating in the Belt and Road Initiative posted robust year-on-year growth
Business
Microsoft co-founder’s art to fetch US$1bn at auction
Expected to fetch more than $1 billion at the two-day sale in New York, late Microsoft co-founder Paul Allen's art...
- The collection is also unique for its value: several masterpieces are estimated to fetch more than $100 million
- Allen left Microsoft in 1983, due to health problems and a deteriorating relationship with Gates, who remained in charge of the company until 2000
Business
EU warns of retaliation against US electric car subsidies
Paris, France - The European Union threatened Monday to take retaliatory measures against the United States for electric car subsidies...
- EU is upset about Washington's "Inflation Reduction Act", which includes vast spending on green energy initiatives.
- If US doesn't take into account the views of EU, the bloc could "go to the WTO" and make its arguments against it.
Economy
Food prices declined in October, says Jordan trade minister
AMMAN, JORDAN - Jordan Minister of Industry, Trade and Supply and Minister of Labor Yousef Shamali said Monday that food...
- The minister attributed the decline to falling oil prices and its impact on production and transport costs.
- He said that the fall in the prices of food is also due to measures taken by the government.
Infographics
Oman’s Loan-to-Deposit ratio best in GCC
The Gulf region’s loan-to-deposit ratio fell by 160 basis points in the second quarter of 2022, due to higher customer...
- The loan-to-deposit ratio dropped below 80 percent for the first time in seven quarters in August.
- A drop in LDR means increased level of liquidity, which in turn indicates that banks are more capable of dealing with unforeseen events like loan losses.
Geostrategy
‘UAE President’s speech at COP27 outlined vision for climate action’
SHARM EL SHEIKH, EGYPT - UAE Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed Al Jaber said that...
- UAE Minister of Industry said effective climate action accelerates opportunities for sustainable economic and social development.
- The minister said that the President's speech emphasized that continuity and perseverance are at the core of the UAE’s strategy.
Market Report
Stocks rise, oil falls tracking China lockdown policy
Stock markets mostly rose, extending last week's strong gains, while oil prices fell after China reaffirmed its commitment to its...
- The dollar was down against key rivals ahead of this week's US midterm elections.
- Global markets and oil prices were buoyant last week on hopes Beijing may begin to roll back policies aimed at stamping out the disease within its borders.
Business
2 Emirates NBD India branches
The branches cater to northern, southern areas.
- In 2017, the bank inaugurated its first full-fledged branch in India’s commercial centre, Mumbai.
- The bank’s 60-second zero-fee digital funds transfer service to India, DirectRemit, has facilitated 2.5 million remittances to India.
Economy
Jordan’s real estate trading up 23% in January-October of 2022
AMMAN, JORDAN - Jordan's real estate trade picked up by 23 percent to US$6.8 billion (JD4.875 billion) in 2022's January-October...
- State's revenue from the real estate market stood at US$344 million by the end of October in Jordan.
- Trade volume in the Jordanian real estate market went up in October 2022 by 21 percent compared to October 2021.
Dar Alarkan 2024 profit up 32%
The company's net profit increased by 81.5 percent in Q4 2024.
Business
Company News
Latest News
Battles continue across Gaza as UN holds vote on ceasefire
Israeli forces maintained a relentless bombardment and ground invasion across Gaza two months after Hamas's deadly attack sparked a war...
Geostrategy
Dubai faces warehouse shortage, says new report
DUBAI, UAE — The supply of under construction warehouse stock in Dubai’s industrial market stands at 1.56 million square feet according...
Business
Vietnam TikTok entrepreneurs turn job losses into livestream gains
Bac Giang, Vietnam - Vi Thi Anh spent half a decade doing monotonous low-paid work in industrial hubs near Vietnam's capital...
Business
Most Read
Business
Over-confidence leaves UAE consumers prone to online frauds: Visa study
Dubai, United Arab Emirates – Over-confidence is leaving consumers in UAE open to becoming victims of fraud, according to Visa’s...
- Ninety-percent respondents likely to disregard the warning signs that suggest online criminal activity even though 61% claim to be savvy enough to sidestep scams.
- Just over one in two people (54 percent) in the UAE has been a victim of a scam at least once compared to the global average of 52 percent.
Business
Sidra Medicine, GlobeMed Qatar sign pact on medical services
DOHA, QATAR – Sidra Medicine and GlobeMed Qatar have signed an agreement to offer eligible insured members of payers contracted...
- The insured members contracted with GlobeMed Qatar will have access to Sidra Medicine’s women’s and pediatric medical services.
- This collaboration marks a significant step in offering insured members enriched healthcare experience in Qatar.
Business
US’ first high-speed train to run between LA and Las Vegas in 2028
Washington, United States -- The United States will have its first high-speed train -- between Los Angeles and Las Vegas --...
- This project called Brightline West, from the name of the Florida-based company that will build and operate it, will receive up to $3 billion in financing, the administration said
- While high-speed rail is the norm in much of Europe and Asia, particularly in China and Japan, the United States has long lagged behind.