Business

Agthia 9M profit nearly triples

Third-quarter revenue increased 14.4 percent.

UAB nine-month profit rises 6%

Loan growth, lower impairment charges boost earnings

du 9M profit up 10.8%

Revenue grows as connectivity demand supports earnings

Al Rajhi Bank 9M profit up

Revenue growth lifts earnings despite higher provisions

Mashreq prices Dim Sum bond

UAE bank raises offshore renminbi funding

Billionaire Bezos announces restrictions on Washington Post opinion coverage

Washington, United States - The Washington Post will no longer run views opposed to "personal liberties and free markets" on...

Business

Saudi Arabia’s sports fund invests in DAZN streaming service

Paris, France - Saudi Arabian sports investment fund SURJ, linked to the kingdom's sovereign wealth fund, has acquired a minority stake...

Business
Science

World’s first space tourist plans new flight to Moon with SpaceX

Musk has promised the rocket will complete its first orbital test this year, and a version of Starship has already...
  • The weeklong mission would see Starship fly within 125 miles of the lunar surface before returning home
  • The voyage will take place after Elon Musk's company has finished developing its prototype Starship rocket
Business

Video highlights: Futuristic TOP CEO 2022 discusses economic opportunities

The TOP CEO Conference, held in Dubai in Q2, discussed several burning global and regional issues of the time. It...
  • The TOP CEO Conference in Dubai in the second quarter of 2022 discussed several burning global and regional issues of the time
  • It brought together Arab and international business leaders and experts to discuss several topics under the theme of The Great Business Reset
Business

Auctioneers unveil Microsoft co-founder’s $1bn art collection

Allen co-founded Microsoft with Bill Gates in 1975, becoming fabulously rich as the company grew into the computing behemoth it...
  • Five centuries of touchstone works featuring some of the most significant creators in history are being sold next month
  • The collection of more than 150 pieces includes work by Vincent Van Gogh, Claude Monet, Paul Gauguin and Jasper Johns
Business

Customers feel better with ‘Buy Now, Pay Later’ plans

Buy Now, Pay Later services provide customers the functionality of credit cards-- easy payments with no cash. But BNPL usually...
  • BNPL providers pay retailers upfront and lend money to customers while taking on all of the program's administrative costs and credit risk. 
  • The appeal of BNPL also lies in the fact that vast amounts of consumer data can be used by retailers to enhance customer loyalty by offering more targeted products.
Business

ENOC unveils service station of future for public at Expo City

Dubai, Abu Dhabi -- ENOC Group announced Wednesday that its Service Station of the Future is now open to the...
  • Expo City Dubai is now ready to host 145,000 residents and workers, becoming the UAE’s first 15-minute city.
  • This includes amenities in close proximity to the 85 start-ups and small businesses that occupies the commercial space.
Economy

IMF says countering inflation with tax cuts would be ‘too costly’

The fund's comments, in its latest Fiscal Monitor report, come as food prices have surged by half since 2019 while...
  • Countries all around the world are facing more pressing and more painful trade offs," said Vitor Gaspar, director of IMF's fiscal affairs.
  • Countries may need to raise added revenues and contain the growth of other expenditures as they prioritize policies, the fund said.
Business

Yellow Door closes $400m equity raise

It plans to deploy $1bn in sustainable energy projects.
  • Yellow Door said in a statement that the funding was substantially provided by YDE’s newest and now controlling shareholder, Actis.
  • Existing shareholders International Finance Corporation (IFC), Mitsui & Co., and APICORP also increased their equity commitments.
Business

Wio Bank, Stripe sign partnership

Will enable SMEs to access e-commerce faster.
  • They will also ensure easy onboarding and a simple pay-as-you-go pricing model.
  • Users can soon sign up on the Wio Business app and be set up with a payment gateway to optimize payments within minutes.
Business

ADNIC, JAFZA sign insurance pact

JAFZA is home to over 9000 companies, including Fortune 100 firms.
  • ADNIC will provide pre-underwritten insurance products for health and office insurance with exclusive pricing.
  • Through this partnership, the Jafza community will benefit from hassle-free online enrolment for health insurance policies.
Business

Meta unveils new virtual reality headset Quest Pro

Meta said it is partnering with Microsoft and others to tune popular business and productivity software to virtual worlds using...
  • The $1,500 Meta Quest Pro features a number of new features that are meant to improve users' perception of truly being in the presence of other people
  • The headset makes it possible to view not only virtual worlds but also the real environment of the user, thanks to high-resolution outward-facing cameras

Billionaire Bezos announces restrictions on Washington Post opinion coverage

Washington, United States - The Washington Post will no longer run views opposed to "personal liberties and free markets" on...
Business

Company News

Latest News

UAE presents its maritime contributions at IMO meet in UK

DUBAI, UAE - Presenting its category B candidacy in the International Maritime Organization (IMO) Council at the organization’s focus group...
Business

Eve Air Mobility, flynas ink MoU

The firms will explore starting eVTOL services in Saudi Arabia.
Business

Google to pay Canadian media $73m annually after a deal with Ottawa

Ottawa, Canada -- The Canadian government and Google have reached a deal to support the country's media, heading off an...
Business

Most Read

Business

Saudi Arabia’s PIF to buy 10 percent stake in London’s Heathrow airport  

Saudi Arabia's sovereign wealth fund is to buy 10 percent of London's Heathrow airport from Spanish infrastructure giant Ferrovial, whose...
  • Heathrow, which is one of the world's busiest airports, is owned by the consortium FGP Topco Limited.
  • Ferrovial bought its stake in Heathrow in 2006 and initially held 56 percent of the hub, before reducing its interest.
Business

Aster to separate its India and GCC businesses

Dubai, UAE - Aster, an integrated healthcare provider, is separating its India and GCC businesses, subject to regulatory and corporate...
  • Under the plan, a consortium led by Fajr Capital has entered into an agreement to acquire a 65% stake in the ownership of the GCC business
  • The separation plan will unlock value for the shareholders by allowing both the India and GCC businesses to adopt a market-focused strategy
Economy

SUV sales ‘offset’ carmakers’ electric gains: Greenpeace

The SUVs produced by Toyota, Volkswagen, and Hyundai-Kia have all posted sales increases of more than 150% over the past...
  • Greenpeace report said that SUVs emit approximately 12 percent more carbon dioxide than sedans
  • Volkswagen SUV sales soared by 270% over the last 10 years, while Toyota SUV sales have risen by 158%