All six lines of Riyadh Metro are now operational
The Royal Commission for Riyadh City (RCRC) announced that the phased rollout of Riyadh Metro culminated as of Sunday, Jan....
AI as the next frontier: Opportunities for channel partners to lead the way
AI offers an infinite number of selling and upselling opportunities. Resellers with the right strategic long-term approach will clearly develop....
Business
Business
Oman’s MSX-listed banks see 18.6 percent net profit growth in 2023
MUSCAT, OMAN - Omani banks listed on the Muscat Stock Exchange (MSX) recorded net profits of US$1.17 billion (RO453.5 million)...
- The banking sector benefited from economic growth, foreign trade, investment, government revenues.
- The preliminary financial results showed that all seven banks listed on MSX posted higher profits.
Business
Oil sees fluctuating prices, shifting output trends
The crude oil market experienced significant volatility in the year 2023, with prices swinging dramatically, influenced by various global factors.
- The crude oil market experienced significant volatility in the year 2023, with prices swinging dramatically, influenced by various global factors.
- OPEC+ continues to dynamically adjust production, with US output reaching a record high and global demand growth led by non-OECD regions.
Business
GCC’s F&B packaging industry transforms post-COVID
The F&B packaging industry in the region adapts to post-COVID consumer behaviors, emphasizing health, wellness, and sustainability, Abdelghany Eladib of...
- The F&B packaging industry in the region adapts to post-COVID consumer behaviors, emphasizing health, wellness, and sustainability, Abdelghany Eladib of SIG tells TRENDS.
- The sector is also focusing on resilient supply chains and innovative packaging solutions to meet evolving consumer demands and environmental responsibilities, he adds.
Interview
WEF24: Managing risks crucial amid AI advancements
AI can revolutionize work and productivity, but balanced regulation is crucial to prevent misuse, Stephen Pagliuca of Bain Capital tells...
- AI can revolutionize work and productivity, but balanced regulation is crucial to prevent misuse, Stephen Pagliuca of Bain Capital tells TRENDS at Davos 2024.
- Pagliuca highlights the US, South America, and Africa as markets with unique potential and delves into the growing sports industry as an investment prospect.
Business
Airbus and Tata to build helicopter assembly line in India
Paris, France - Airbus will build a helicopter assembly line in India with Indian conglomerate Tata, the European aircraft manufacturer said Friday.The...
- Airbus said the facility -- which will take two years to set up -- would be the first such operation to be run by a private group in India.
- Airbus CEO Guillaume Faury said making the helicopter in India would "unlock the true potential of the helicopter market in the country".
Business
Telegraph boss quits as UK investigates UAE-backed takeover
London, United Kingdom - The head of Britain's Telegraph Media Group has stepped down, the company announced on Friday, as the...
- TMG and parent company Press Acquisitions Limited said that chief executive officer Nick Hugh, in the post since 2017, had left his role with immediate effect
- The announcement came on the day the regulators were due to submit a review to the government laying out the potential impact of the attempted takeover by RedBird IMI
Market Report
Paris stocks hit record thanks to luxury
Europe's main stock markets shot higher, with Paris closing at a record high as shares in LVMH surged on record...
- Hong Kong stocks slumped after rallying for much of the week, as traders awaited guidance on more Chinese stimulus.
- Oil prices fell as traders banked profits from a strong week for crude.
Business
Boeing faces heat over quality control after Alaska Airlines fiasco
The Alaska Airlines episode represents the most serious operational problem for Boeing since two crashes on 737 MAX 8 planes...
- "The quality assurance issues we have seen are unacceptable," said Michael Whitaker, head of the Federal Aviation Administration
- The agency has vowed "more boots on the ground" for a comprehensive investigation of Boeing and contractor Spirit AeroSystems
Economy
US Federal Reserve’s favored inflation gauge rises before rate decision
The US Federal Reserve's favored measure of inflation ticked higher last month, according to government data published. The latest announcement...
- The closely watched "core inflation" measure, which strips out volatile food and energy costs, continued to ease.
- This will likely reassure the Fed that trends are moving in the right direction, despite the latest uptick in headline prices.
Business
Shurooq real estate sales exceed $48 million at ACRES 2024
Sharjah, UAE -- Sharjah Investment and Development Authority (Shurooq) contributed over AED 177 million to the total sales of AED...
- Shurooq said it has been continuously boosting Sharjah’s global investment appeal with revolutionary projects like Sharjah Sustainable City.
- At ACRES 2024 Shurooq showcased phase 4 of this net zero mixed-use development, selling and reserving 42 units that are valued at AED 102.5 million.
All six lines of Riyadh Metro are now operational
The Royal Commission for Riyadh City (RCRC) announced that the phased rollout of Riyadh Metro culminated as of Sunday, Jan....
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Sovcomflot 2023 net profit $900m  Â
Business
US stocks open mixed ahead post fresh economic data
New York, US- Wall Street stocks saw a mixed start to Thursday, as traders digested the latest economic data ahead of...
Market Report
Abu Dhabi Chamber sets up working group to support startups, SMEs
ABU DHABI, UAE – The Abu Dhabi Chamber of Commerce and Industry (ADCCI) has formed a working group specifically for...
Business
TAQA, JERA sign pact with SATORP to develop plant in Saudi ArabiaÂ
ABU DHABI, UAE – Abu Dhabi National Energy Company (TAQA), together with JERA Co., Inc on Thursday announced that they...
Business
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Business
UBS reports lower net profit in 2023
The Swiss government pushed it to buy Credit Suisse last year.
- UBS had reported a $29 billion annual profit in February due to the difference between the value of the assets obtained in the Credit Suisse dea
- In its annual results published on Thursday, UBS said the fair-value estimate has been adjusted by $1.2 billion, decreasing the "negative goodwill" to $27.7 billion
China’s Xiaomi to enter EV market
China's EV sector has grown rapidly in recent years.
- Xiaomi CEO Lei Jun has promised that the SU7 EV will be "the best-looking, best-driving and smartest car" costing under $69,200
- Xiaomi is the world's third-biggest smartphone maker, and its experience in that sector has helped shape its EV strategy
Economy
Aramco CEO terms energy transition strategy a failure
Speaking at the CERAWeek conference in Houston, Saudi Aramco Chief Executive Amin Nasser said that the current transition strategy is...
- ExxonMobil Chief Executive said "we're not on the path" to reaching net zero emissions by 2050
- In November last year, COP28 conference included a call for a transition away from fossil fuels