Dubai receives 3.67 million visitors in first two months of 2024
Dubai, UAE--Dubai received 3.67 million overnight visitors in January-February 2024, with an increase of over 18 percent year-on-year (YoY), figures...
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
Market Report
Pound sinks against dollar on UK political uncertainty
The British pound sank against the dollar on political uncertainty after the resignation of UK Prime Minister Liz Truss, while...
- The dollar strengthened also on expectations that the US Federal Reserve would press ahead with its program of bumper interest rate hikes.
- Traders were girding for another possible intervention by Tokyo after the dollar went above 150 yen.
Business
UAE-UK Business Council to promote trade, investment
The UAE-UK Business Council hosted its 20th Plenary Meeting in Abu Dhabi, co-chaired by Ahmed Al Sayegh, Minister of State,...
- A new project on opportunities for UK-UAE collaboration on the decarbonization of the built environment was also announced.
- The Business Council announced it will support the Cherie Blair Foundation for Women.
Business
EasyLease net profit $8.91m
The total revenue in Q3 ended Sept reached AED156.11 million
- The company will reach 30,000 motorbikes by the end of 2022, doubling the size of its fleet from a year earlier.
- Easy Lease said it will open local offices in Saudi Arabia and Bahrain before the end of this year, targeting a 10 percent share by the end of 2023 of the Saudi Arabian market.
Business
Google fined $162m by Indian watchdog over market dominance
Android had a suite of Google apps pre-installed on its phones, including the company's own search engine, "which accorded significant...
- The company's Android mobile operating system is by far the dominant player in India and is run on 95 percent of all the country's smartphones
- The Competition Commission of India (CCI) said Google had configured the platform to unlawfully crowd out rivals to its popular apps, including YouTube
Business
Big staff cuts likely at Twitter: report
Twitter had filed a lawsuit to hold Musk to the terms of the takeover deal he inked in April, even...
- While pitching his deal to buy Twitter to investors, Musk said he planned to get rid of nearly three-quarters of the firm's workers
- Staff cuts at the San Francisco-based company would likely hamper the platform's ability to moderate abusive posts or keep data secure
Business
DXB to welcome 2.1m passengers over 10-day school holiday break
October 30 is expected to be the busiest day with daily traffic exceeding 259,000 passengers.
- October 30 is expected to be the busiest day with daily traffic exceeding 259,000 passengers
- Passenger numbers are rising rapidly towards 2019 levels on the back of strong recovery throughout 2022
Business
Medicare net profit up 4.58% in first nine months of 2022
The earnings per share amounted to $0.54.
- Data issued by the company, published on Qatar Stock Exchange website, Thursday, indicated that earnings per share amounted to $0.54
- The Group was established in 1996, and was listed on Qatar Stock Exchange in 1997, with a capital of $77 million
Business
Global players steer towards UAE as Abu Dhabi sails well to become ‘best’ superyacht destination
The UAE capital -- which now boasts 5,325 registered vessels -- is well on its way to become a key...
- The UAE capital -- which now boasts 5,325 registered vessels -- is well on its way to become a key hub for the international superyacht industry, says a report
- The completion of more than 150 new superyachts worth US$3.9bn in 2022 points to Abu Dhabi's entry into this premium industry, which may benefit UAE's economy
Business
Nokia Q3 profit at $419m
The Finnish company reports net sales of $6billion.
- Finn company Nokia reported a 22-percent rise in profit to $419 million
- Nokia CEO Pekka Lundmark said the quarter demonstrated that he was delivering on the ambition to accelerate growth.
Business
Ericsson Q3 profit at $480m
Firm is making 'pricing adjustments' as inflation soars.
- Ericsson's shares closed down 15 percent on the Stockholm stock exchange.
- The lower profits were partly due to Ericsson's $6.2 billion acquisition of US cloud communications company Vonage.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Dubai receives 3.67 million visitors in first two months of 2024
Dubai, UAE--Dubai received 3.67 million overnight visitors in January-February 2024, with an increase of over 18 percent year-on-year (YoY), figures...
Business
Company News
Latest News
Messi’s World Cup jerseys up for $10m auction
If the jerseys sell for above $10m, that could make the sale the most valuable collection of sports memorabilia ever...
Business
48% of people in UAE expect cross-border payments surge in 2024
Dubai, UAE -- Nearly 48 percent of individuals in the UAE anticipate an uptick in cross-border payments over the next...
Business
Saudi EXIM Bank, Obeikan AGC ink pact
Obeikan AGC Glass will have an export credit insurance policy.
Business
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Geostrategy
Attack in area claimed by Sudan, S. Sudan, leaves 32 dead
A government representative for Abyei condemned the attacks that occurred early Sunday in two counties by armed militias and soldiers...
- Bulis Koch Aguar Ajith, information minister for Abyei said the latest "barbaric attacks on civilians" were a continuation of deadly violence that broke out last week in the region
- Security Council this month voted unanimously to extend the 12-year-old UN peacekeeping mission in Abyei which currently comprises some 4,000 military and police personnel
Business
First internationally recognized renewable ammonia shipment made
Dubai, UAE -- Abu Dhabi-based Fertiglobe, a strategic partnership between ADNOC and OCI Global, has completed the maiden shipment of...
- The renewable ammonia was generated at Fertiglobe's facilities in Egypt utilizing renewable hydrogen from its Egypt Green Hydrogen electrolyzer pilot.
- This eco-friendly ammonia will play a crucial role in producing near-zero emissions synthetic soda ash, a vital component in laundry powder, for consumer goods giant Unilever.
Business
OpenAI faces leadership crisis as staff threaten to follow Altman to Microsoft
This mass discontent follows the unexpected dismissal of OpenAI co-founder Sam Altman, whose leadership in AI advancements like ChatGPT has...
- This mass discontent follows the unexpected dismissal of OpenAI co-founder Sam Altman, whose leadership in AI advancements like ChatGPT has been crucial.
- Reports had also been circulating that Altman is planning to launch a new AI venture and announcement was expected as soon as this weekend