Data Integrity: The foundation of true data freedom
Ensuring data integrity has become more challenging, leaving organizations at risk of data loss and corruption. during migration
Business
Troubled Boeing faces investors and awaits strike vote
Boeing, the beleaguered aviation giant announces what is expected to be its biggest quarterly loss in four years, and striking...
Business
Business
Vodafone Qatar profit up 61%
Net profit for H1 2022 reaches $60 million.
- The increase in profit is mainly due to growth in earnings before finance, tax, depreciation and amortization
- Vodafone Qatar commenced commercial operations in 2009 with a capital of QR 4.277 billion
Business
Elon Musk sells about $7bn worth of Tesla shares
Amid a high-stakes court battle with Twitter over a $44 billion buyout deal, Elon Musk has sold nearly $7 billion...
- According to filings published on the Securities and Exchange Commission's website, the Tesla boss sold some 7.9 million shares between August 5 and 9
- Twitter has been engaged in a legal battle with the mercurial Tesla boss over his effort to walk away from the April agreement to buy the company
Business
DIFC unveils wealth center
The center will be a hub for high-net-worth individuals.
- The center will look to provide advisory and concierge services, education and training, outreach and high-end networking, besides undertaking research and issuing publications
- Tarek Hajjiri, CEO for the new project, said that the new center will play a unique role in guiding family businesses in relation to governance, succession, ownership, wealth
Business
Macroeconomic issues may hit logistics across GCC
The Covid-19 pandemic, regional lockdowns, and Ukraine war have been disrupting trading lane in air and maritime freight, affecting the...
- The Covid-19 pandemic, regional lockdowns, and Ukraine war have been disrupting trading lane in air and maritime freight, affecting the global supply chain, say experts
- Saudi Arabia and the UAE are both striving to reduce operational costs and facilitate faster deliveries by adopting smart port technologies and integrating port value chain
Business
Micron to invest in chip production
The firm will invest $40bn by the end of the decade.
- There has been a global shortage of computer chips in recent months caused by production and transportation snags.
- The spending on US production is part of the company's planned $150 billion global investment in manufacturing.
Business
Southern Cement H1 profit $40mn
Profit fell 42 percent compared to H1 2021.
- In comparison to 2021, the profit declined by 42 percent, when it was $68.4 million.
- The company’s net profit in second quarter 2022 dropped 30 percent to $16.22 million
Business
Dubai realty market records deals worth $653 million on Tuesday
Dubai real estate market recorded 436 sales transactions worth AED971.4 million ($264 million), in addition to 101 mortgage deals of...
- The sales included 360 villas and apartments worth AED738.88 million, and 76 land plots worth AED232.51 million.
- The emirate's real estate market record realty transactions worth over AED1.6 billion on Monday.
Business
Three day Ajman Dates festival concludes, promotes palm plantation
The seventh edition of three-day Liwa Ajman Dates and Honey Festival at the Emirates Hospitality Center in Ajman, concluded. Organized...
- The event acted as a platform for promotion of palm plantation, and production of dates, honey and fruits.
- People visited the festival in huge numbers, which included many events aimed at reviving the cultural Emirati heritage
Economy
WUWM Abu Dhabi 2022 to discuss global food chain
The World Union of Wholesale Markets (WUWM) Conference 2022, which will be held in the Middle East for the first...
- The World Union of Wholesale Markets (WUWM) Conference 2022 will be held in the Middle East for the first time
- As the world’s largest network of wholesale markets, WUWM represents the industry’s most significant suppliers of fresh food
Economy
Jordan forms a PPP council to boost mining sector
Jordan's Minister of Energy and Mineral Resources on Tuesday announced the formation of a Public-Private Partnership (PPP) council for mining,...
- This Public-Private Partnership is part of the plan for implementation of the economic modernization vision
- The minister said that there is a need for establishing a research center for mining and metallurgy as part of the vision
Data Integrity: The foundation of true data freedom
Ensuring data integrity has become more challenging, leaving organizations at risk of data loss and corruption. during migration
Business
Company News
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PIF to buy Hadeed, Rajhi Steel
Business
Export Bahrain and Alibaba sign MoU to boost global trade
Manama, Bahrain--Export Bahrain and Alibaba.com have signed a memorandum of understanding (MoU) to boost global trade and economic growth in...
Business
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Business
UAE rides property-market boom as demand soars
Global firms looking to hire space for offices and demand from govt, local dwellers have turbocharged the sector, driving property...
- Demand for office space in Abu Dhabi was primarily fueled by government and semi-government institutions, which remain the city's primary tenants
- To cope with the high demand, Dubai will supply the market with an extra 72,000 square meters of office space by the end of the fourth quarter
Business
Aramex Q3 net profit down
It posted a five-percent decline in revenues to US$367m.
- It reported a decrease in net profit to $2.61 million in Q3 2023, a notable decline from $10.78 million recorded in Q3 2022
- Aramex, however, posted a 4% YoY increase in gross profit and a resilient EBITDA of $36.48m for the third quarter of 2023
Business
Oil slumps below $80 for first time since July, stocks wobble
Brent crude, the main international contract, briefly dropped more than 2 percent to hit $79.80, before bouncing back above $80...
- Crude had already plunged about four percent the previous day on news that China's exports fell at a faster pace than predicted in October.
- The drop in oil prices provided some support to stocks, but they still struggled. After opening with modest gains, Wall Street's main indices slipped into the red.