Google hit by US$272m fine in France
It breached an agreement on terms for paying media firms.
Business
AstraZeneca to buy Fusion
The $2.4bn deal is its latest expansion into cancer treatments.
Business
DFM H1 profit up up 63 percent
The second quarter profit increased by 134 percent.
- The net profit of the second quarter of 2022 increased by 134 percent to AED35.9 million compared to Q2- 2021's level of AED15.3 million.
- The Company's total consolidated revenue reached AED163.8 million in H1-2022 compared to AED136.6 million during H1-2021.
Arts & Culture
Johnny Depp sells his artwork for £3 mn
The art retailer said that Johnny Depp's collection of prints called "Friends & Heroes" was "a testament to those he...
- Depp wrote on Instagram on Thursday morning that the prints were going on sale online at Castle Fine Art, which runs a network of UK galleries
- The art retailer said that Johnny Depp's collection of prints called "Friends & Heroes" was "a testament to those he has known well and others who have inspired him as a person."
Business
Pfizer profit up 78% in June quarter
The company's earnings jumped on strong sales of Covid19 products.
- In the quarter ending June 30, profits were $9.9 billion, up 78 percent from the year-ago period following a 47 percent jump in revenues to $27.7 billion
- US officials last month approved emergency authorization to Pfizer and Moderna for Covid-19 vaccines in under-five-year-olds
Geostrategy
Saudi Crown Prince ends Europe trip with deals, MoUs
Strategic partnership remains in focus as Mohammed bin Salman leaves France after heading a wide-ranging talks along with French President...
- Strategic partnership remains in focus as Mohammed bin Salman left France today after heading a wide-ranging talks along with French President Emmanuel Macron
- Earlier, a delegation of senior Saudi ministers held separate talks with their French counterparts at at the Elysée Palace
Geostrategy
UAE, Kenya to begin negotiations on free trade agreement
UAE and Kenya announced their intention to begin talks for a Comprehensive Economic Partnership Agreement (CEPA) between the two countries...
- UAE and Kenya announce their intention to begin talks for a Comprehensive Economic Partnership Agreement
- If inked, the CEPA pact will be the first free trade deal between UAE and an African nation
Business
Aldar Properties profit up 44 percent
Net Profit of Aldar in Q2 2022 amounted to $229 million.
- Aldar's group sales rose to a record level of AED 5.33 billion ($1.45bn) for H1 2022.
- Sales surge was driven by strong domestic and international demand for existing inventory.
Business
ADNOC eyes stake in key Egypt firm
ADNOC Distribution will acquire 50 percent stake in TotalEnergies Egypt.
- ADNOC Distribution said it will acquire a 50 percent stake in TotalEnergies Egypt for about US$186 million
- The acquisition will also see the refurbishment of several service stations to full ADNOC branding
Business
TotalEnergies doubles Q2 profit
Rising oil, gas prices are yielding bumper profits across the sector.
- TotalEnergies profit amounted to $5.8 billion in the period from April to June.
- TotalEnergies second-quarter sales were up 37 percent at 74.8 billion euros.
Business
FAB profit up 50 percent
The company's net profit amounted to $2.18 billion.
- FAB said the total income was AED12.5 bn, up 31% year-on-year
- Customer deposits reached AED648 billion, up 8% sequentially
Business
Etihad profit for H1 $296 million
The profits rose despite 60 percent hike in fuel costs.
- Etihad carried 4.02 million passengers in H1 2022, over 3 million more than last year (H1 2021: 980,000), with an average seat load factor of 75 percent.
- Passenger loads increased consistently over the first six months, rising by 21.9 percentage points as travel demand recovered.
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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
Google hit by US$272m fine in France
It breached an agreement on terms for paying media firms.
Business
Company News
Latest News
China’s GDP rises above forecasts, boosted by robust recovery efforts
BEIJING, CHINA - China's Gross Domestic Product (GDP) grew by 4.9 percent year-on-year in the third quarter, surpassing economists' predictions...
Economy
Al Seer Marine, L3Harris renew pact
They have partnered with each other for the past six years.
Business
Microsoft announces $3.2 billion investment in Australia
Details of the deal were outlined by bosses at the US tech giant and by Australia's prime minister, Anthony Albanese,...
Most Read
Business
RAKBANK reports highest ever net profit
The bank's income increased by 35.4% year-on-year.
- The bank's income increased by 35.4% year-on-year, thanks to continued growth in low-cost deposits and expansion across all segments of its business
- The bank maintained strong credit quality, with a cost of risk at 2.5% and an impaired loan coverage ratio of 210.3% for the YTD through September 2023
Investigation
Funding key challenge for Middle East innovators
Deep-tech companies in the Middle East are facing challenges due to limited funding and inadequate R&D centers, leaving entrepreneurs seeking...
- Deep-tech companies in the Middle East are facing challenges due to limited funding and inadequate R&D centers, leaving entrepreneurs seeking a more supportive ecosystem
- Startups struggle to monetize intellectual property, and despite universities' support to develop IPs, the main challenge for them is achieving sustainability and profitability
Investigation
Funding key challenge for Middle East innovators
Deep-tech companies in the Middle East are facing challenges due to limited funding and inadequate R&D centers, leaving entrepreneurs seeking...
- Deep-tech companies in the Middle East are facing challenges due to limited funding and inadequate R&D centers, leaving entrepreneurs seeking a more supportive ecosystem
- Startups struggle to monetize intellectual property, and despite universities' support to develop IPs, the main challenge for them is achieving sustainability and profitability