Business

flydubai launches new flights

Riga, Salzburg, Vilnius flights begin from Dec

ADNOC Gas Q3 profit $1.34bn

Stronger earnings support higher full-year outlook

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

Latifa bint Mohammed awards UK’s Simon Squibb with ‘One Billion Award’ at 1 Billion Followers Summit

Dubai, UAE - Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, presented the...

Business

2025 IT Security Predictions

Cloudflare, a leading connectivity cloud company recently published an Op-Ed by Grant Bourzikas, CSO, tackling IT security predictions for 2025

Business

DEWA organizes virtual seminar, 90 Turkish firms participate

Dubai Electricity and Water Authority (DEWA) has organized a virtual seminar with 90 leading Turkish companies in the energy and...
  • DEWA has a clear strategy and specific goals to increase the share of clean and renewable energy in Dubai’s energy mix
  • The company has launched pioneering projects and initiatives to diversify clean energy sources
Arts & Culture

Christie’s to auction Paul Allen’s $1bn art collection

The November sale of more than 150 pieces spanning 500 years of art will be "the largest and most exceptional...
  • Christie's said all proceeds will go to charitable causes, as per the wishes of Allen, who was an avid art collector, innovator and philanthropist.
  • The auction record for a private collection was set this spring by the US couple Harry and Linda Macklowe, with $922 million fetched in auctions conducted by Sotheby's.
Business

German govt to relook huge gas levy amid outrage

German ministers vowed to reexamine a planned gas surcharge imposed on consumers after it emerged that some energy companies seeking...
  • The levy, to be imposed from October 1, had been grudgingly accepted as a compromise to help prevent the energy market from collapsing.
  • The levy sparked outrage after it emerged that some energy firms which have doubled their revenues in H1 2022, have registered to receive a share.
Business

South Korea wins $2.2bn order in Egypt’s first nuclear plant

The Korea Hydro & Nuclear Power Co. won a contract with Russia’s state-owned Rosatom in the project. The state-owned Korean...
  • El Dabaa plant, with a capacity of 4,800 MW, is Egypt’s first nuclear plant and would be constructed at an estimated cost of $28.75 billion.
  • The contract stipulates that Rosatom will not only build the plant, but will also supply Russian nuclear fuel for its entire life cycle.
Geostrategy

Turkey plays down US sanctions threat over Russia ties

Turkey's finance minister told businesses on Friday they should not be concerned by the threat of sanctions that Washington warns...
  • The value of Ankara's trade with Moscow shot up by nearly 50 percent between May and July this year as NATO member Turkey has refused to join the international sanctions.
  • US Deputy Secretary of the Treasury had warned Turkish banks and companies they would face secondary sanctions if they cooperated with sanctioned Russians.
Business

Facial recognition helps GCC banks verify, curb frauds

The new technology is the most accurate form of identity verification since biometric data is incredibly hard to fake or...
  • The new technology is the most accurate form of identity verification since biometric data is incredibly hard to fake or replicate, and faces cannot be lost, says an expert
  • Facial recognition also aids in post-fraud proceedings and fraud prevention, allowing the bank to divert resources into other areas adds Anton Nazarkin of VisionLabs
Business

Maaden to supply phosphate, ammonia to four Indian firms

The Saudi Arabian Mining Company, Maaden, Thursday signed four memoranda of understanding with Indian fertilizer companies to supply phosphate and...
  • The company signed MoUs with top Indian companies, under which they will discuss ways to enhance joint cooperation in various fields of growth,
  • Ma'aden today exports about 1.7 million tons of phosphate and ammonia products to the Indian market annually.
Geostrategy

Jordan, GCC countries discuss higher education cooperation

Joint Jordan-Gulf Cooperation Council (GCC) working group on the higher education held talks on cooperation and exchange of expertise at...
  • The meeting decided that the Jordanian side would draft executive programs and memoranda of understanding (MoU).
  • The programs would prioritize areas of academic, student, research collaboration and expertise exchange.
Business

Saudi to provide multiple entry visas for tourists during world cup

The move comes as Qatar, which has a population of 2.8 million, tries to accommodate an expected 1.2 million visitors...
  • People with a Hayya Card, reserved for ticket-holders and used to access Qatar during the tournament, will be able to apply for the electronic visas.
  • The Gulf power shares a land border with gas-rich Qatar, which is hosting the first World Cup in the Middle East and the first held in winter months.
Business

Bahri, stc sign logistics deal

Customs clearance assistance is part of the agreement.
  • The stc group has operations in Saudi Arabia, Kuwait, Bahrain, and Oman.
  • The contract was signed by Soror Basalom, President of Bahri Logistics and Ali Alhudhayf, Acting VP of Human Resources and Logistics Support at channels by stc.

Latifa bint Mohammed awards UK’s Simon Squibb with ‘One Billion Award’ at 1 Billion Followers Summit

Dubai, UAE - Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of Dubai Culture and Arts Authority, presented the...
Business

Company News

Latest News

Black Friday is a $74bn opportunity for MENA retail. But is it losing sheen by ‘blindly copying’ the West?

The expected injection of billions of dollars into the retail business through sale of varied items can turn out to...
Business

EgyptAir orders 10 Airbus A350 planes in $3.2bn deal at Dubai Airshow

The transaction is worth $3.2 billion, reports say.
Business

UAE’s Tawazun Council signs deals worth $1.27bn at Dubai Airshow

Dubai, UAE - UAE's Tawazun Council, an independent government entity that works closely with the Ministry of Defense and security...
Business

Most Read

Business

Emirates to build advanced $950m engineering facility at DWC

Dubai, UAE -- Emirates has unveiled a plans to build a $950 million cutting-edge engineering facility at Dubai World Central...
  • Spanning 1 million square meters, the engineering complex is set to become the most extensive and advanced facility of its kind operated by any airline globally.
  • Tailored to meet the evolving needs of Emirates' aircraft fleet through the 2040s, the facility is expected to provide support for the airline's operations.
Business

Denmark, Netherlands top destinations for remote working: Report

Davos, Switzerland -- Denmark, the Netherlands, and Germany have emerged as the leading countries for remote working, offering the best...
  • The Global Remote Work Index, which evaluates 108 countries, is a crucial tool for remote workers seeking the best destinations for their work.
  • A WEF report, which surveyed over 800 companies employing more than 11 million workers, highlights remote working as a significant trend.
Business

ACWA Power, SEC sign PPAs

The agreements signed with SPPC are valued at $3.9 billion.
  • The agreement, signed on November 13, pertains to the development, financing, construction, ownership, and operation of two expansive combined cycle gas turbines power plants.
  • Named Taiba 1 and Qassim 1, these mega-projects are strategically situated in Madinah and Qassim, with a production capacity of 1,800 megawatts (MW) each.