Nissan to shrink EV production costs
The automaker will slash production costs by 30 percent.
Business
EU imports US$120.5bn worth of energy products in Q4 2023
BRUSSELS, BELGIUM – In the fourth quarter of 2023, the EU imported US$120.5 billion (€111.3 billion) worth of energy products...
Business
Business
Musk says tweet about buying Manchester United was a joke
The world's richest man has a habit of posting provocative statements on Twitter for fun and Musk was at it...
- Musk, who recently sold nearly $7 billion worth of Tesla shares, is in a major legal battle in the US state of Delaware over his aborted plan to buy Twitter
- Manchester United, one of the biggest clubs in world football but suffering a prolonged slump, are owned by the Glazer family
Business
Dallah reports 52% profit rise
The healthcare company saw its profit vault to $40m in H1.
- The company's stock however posted a 1.9 percent drop in early Tuesday trading, but then rebounded to close 0.9 percent higher at SR118
- The uptick in revenues came on the back of continued growth in operations and higher hospital admissions during the six-month period
Business
Abu Dhabi Airports teams up with ICP to boost passenger service
The partnership aims to achieve the highest levels of service excellence at all terminals and facilities of Abu Dhabi Airports.
- The agreement stems from Abu Dhabi Airports and ICP’s keenness to adopt best practices in areas of security, safety and air transport
- Shareef Hashim Al Hashmi, CEO of Abu Dhabi Airports, said the collaboration is intended to enhance passenger experience at Abu Dhabi airports
Business
Qassim Cement’s profit tumbles
The Saudi firm posted a 73% fall in profit to $14m in H1.
- Following the news of financial results, the company stock tumbled 2.45 percent at the end of Tuesday's closing
- Its revenue also declined by 30 percent during the first half to stand at $78.66 million
Analysis
Policies, infra make Dubai hub for talent, innovation
For decades, the emirate has been a global player with a plethora of capital, talent, corporate tax incentives and ground-breaking...
- For decades, the emirate has been a global player with a plethora of capital, talent, zero corporate tax and ground-breaking technologies, says the latest BCG report
- Dubai's unfettered access to global consumer markets makes business activities such as innovation, hospitality, logistics and tourism easier to perform than anywhere else
Business
US acts to make hearing aids affordable
In October, the cost of hearing aids will be down by an estimated $2,800 per pair as there would be...
- At $5000 a pair, safe and effective and high quality hearing aids have been unaffordable for many Americans.
- Children, as well as people with severe hearing loss, would still need a prescription.
Economy
UAE busy in strengthening its food security system
The UAE is strengthening its food security system through policies that include promoting cooperation with other countries and markets, diversifying...
- The UAE is strengthening its food security system through policies that include promoting cooperation with other countries and markets.
- The policies include diversifying sources, attracting local and foreign agricultural investment.
Business
Kuwait’s National Fund shored up 132 SMEs during pandemic
Kuwait's National Fund for SME Development (SME Fund) has helped resolve the problems of 132 small and medium-sized enterprises (SMEs)...
- Founded in April 2013 under Act 98, the government Fund approved establishing 1,422 projects and joint agreements with 992 SMEs.
- Some SMEs offered essential backing to the national economy during pandemic in areas such as medical services, logistics and foodstuff.
Business
Non-Arab foreigners invest $4.23bn in UAE stocks since Jan 2022
According to Abu Dhabi and Dubai financial markets, non-Arab foreign investors purchased local stocks worth AED70.27bn from the beginning of...
- The purchases of non-Arab foreign investors in the Dubai Financial Market totaled some AED18.75bn since the start of this year.
- The UAE has been ranked first in the Arab world and 19th globally for its ability to attract foreign direct investment in a report by UNCTAD.
Business
Walmart Q2 revenue $152.9bn
The retail giant sales surged, partly due to inflation.
- Revenues for its second fiscal quarter ending July 31 were $152.9 billion, up 8.4 percent from the year-ago period
- Profits rose 20.4 percent to $5.1 billion, with some of the increase connected to the accounting for an asset sale in Brazil
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Nissan to shrink EV production costs
The automaker will slash production costs by 30 percent.
Business
Company News
ICIEC, SAPICO ink pact
Business
Latest News
SAMI launches radio systems line
Business
Boon or blight? E-scooters around the world
Geostrategy
Chinese BYD posts record Q3 profit
The third-quarter profit of $1.42bn is its highest-ever single-quarter earnings.
Business
SABIC Agri-Nutrients profit falls
SABIC Agri-Nutrients Q3 net profit fell 55% to $280 million.
Business
Most Read
Business
Mulk, Ajman Holding form JV
Collaboration in the T10 Cricket League key element of the JV.
- The joint venture will also promote the Alubond range of products, Mulk International’s premier brand and the world’s largest metal composite panel manufacturer.
- Mulk International, has production facilities of Alubond and operations in Asia, Europe, Africa and the Middle East with a sales network of more than 100 countries.
Business
Borouge Q3 net profit up 22%
The rise in net profit was driven by 16% increase in sales.
- The company has committed a dividend of $1.3 billion (15.9 fils per share) for the 2023 financial year, which equates to a 6.3 percent current dividend yield.
- Third-quarter revenue increased 6 percent quarter-on-quarter, reaching $1.5 billion, and declined 11 percent year-on-year. On a year-on-year basis, net profit declined by 9 percent
Business
Saudi Ministry of Investment and Agility sign MoU to boost healthcare sector
Riyadh, Saudi Arabia-- Saudi Arabia and Agility have signed a memorandum of understanding (MoU) to introduce cutting-edge health technology and...
- The agreement includes the potential to widen digital health services and localizing the supply chain for innovative new medical technologies
- The MoU looks to widen people's access to preventative health services to combat chronic diseases such as cardiovascular disease and breast cancer