AI-Driven technologies drive operational excellence, helping meet sustainability goals
Industrial AI and digital technologies are revolutionizing energy infrastructure, helping companies across asset-intensive sectors achieve operational excellence
Business
Netflix adds millions of subscribers but growth slows
San Francisco, United States - Netflix on Thursday said it added more than five million subscribers in the recently ended quarter...
Business
Analysis
Challenger banks struggle for market share in GCC
Net sentiment for traditional banks is higher than those for challenger banks as the former have a long history in...
- Net sentiment for traditional banks is higher than those of challenger banks as the former have a long history in the market and have proved to be trustworthy and reliable.
- Today consumers expect speed, efficiency and reliability from banks. The digital revolution also creates an opportunity to increase financial inclusion in the Gulf region
Business
Qatar Chamber to promote investment in country during world cup
Qatar Chamber would issue a guide to economic and commercial activities in Qatar 2022, aiming to promote its economy and...
- Qatar Chamber General Manager Saleh bin Hamad Al Sharqi stressed the promotion of economy and investment climate.
- Bin Hamad noted FIFA WC 2022 is a key opportunity to introduce the Qatari economy and the advantages of investment in Qatar.
Business
World’s biggest chocolate plant restarts after scare
The plant, which supplies industry giants such as Hershey but not to consumers directly, was shut down after salmonella bacteria...
- Zurich-based Barry Callebaut said it halted shipments and informed clients in time to prevent contaminated chocolate making its way to shops.
- It identified lecithin, added to smooth food textures, as the source of the contamination, prompting weeks of extensive cleaning.
Economy
UAE foreign ministry, ECI sign MoU to promote trade, investment
The Ministry of Foreign Affairs and International Corporation (MoFAIC) and Etihad Credit Insurance (ECI), the UAE's federal export credit company,...
- MoFAIC and ECI agree to work together to position the UAE as an ideal destination for trade and investment
- They will highlight the UAE's stable and secure environment, investor-friendly legislation and advanced trade finance infrastructure
Economy
Tie-ups with UAE helps boost Indian farm exports by 31 percent
Buyer-seller meets in the UAE on agricultural and food products with registered geographical indication (GI) tags, a week-long mango festival...
- Buyer-seller meets in the UAE on agricultural, food products with registered geographical indication tags helped boost India's exports
- A week-long mango festival in Bahrain, and an international buyer-seller meet in Ladakh attended by buyers from Dubai and Oman also helped
Economy
UAE issues new guidelines for real estate transactions
The Ministry of Economy (MoE) and the Ministry of Justice (MoJ), in partnership with the UAE Financial Intelligence Unit (FIU),...
- The move will help the UAE’s sustainable, evolving approach to the global fight against money laundering and terrorist financing
- The decision was made following multiple meetings and discussions among the MoE, MoJ, FIU, and other competent authorities in the UAE
Business
Jordan real estate trade grows by 20% to $4.41 billion
Jordan has posted a twenty percent rise in real estate trade to $4.41 billion during the first seven months of...
- Jordan's revenue from the real estate market stood at $200 million in the January-July period of 2022, a 33-percent increase from the figure reported in 2021
- In July alone the trade volume went up by 40 percent, touching $695 million
Business
Jordan cabinet meeting debates implementation of reform plan
A cabinet meeting in Jordan discussed ways of implementing the "roadmap" in accordance with the time frame set by the...
- Nasser Shraideh, the Minister of Planning and International Cooperation, briefed the Cabinet on the proposed work methods and mechanisms for implementing the roadmap
- The Cabinet endorsed the Industry Support and Development Fund Regulations for 2022 that would establish the Support and Development of Industry
Business
QAMCO profit rises by 112%
The company's net profit rose to $164 million in H1 of 2022.
- The company's earnings per share (EPS) amounted to QR 0.110 as of June 30 this year as against QR 0.052 for the same period in 2021
- QAMCO, a Qatari Public Shareholding Company, capital amounts to $1.60 billion
Business
Dubai to be pitched as global hub for creative economy
The agreement between the two will see them both offering services to help set up new businesses in creative economy...
- The partnership will aim to double the creative industries’ contribution to Dubai’s GDP to five percent
- It will provide creative businesses with special incentives, such as creative activities, logistics, consultation, banking solutions and services
AI-Driven technologies drive operational excellence, helping meet sustainability goals
Industrial AI and digital technologies are revolutionizing energy infrastructure, helping companies across asset-intensive sectors achieve operational excellence
Business
Company News
Alahmadi joins SHUAA Board
Business
Latest News
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...
Business
Dubai Investments acquires 7.68% more stake in Monument Bank
Dubai, UAE - Dubai Investments, the leading investment company listed on the Dubai Financial Market (DFM), acquired additional 7.68 percent...
Business
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Business
IHC 9M net profit $4.13bn
The Group's third-quarter revenues grew by 9.5 percent.
- In Q3 2023, IHC grew its total assets by 3.3 percent and reduced total liabilities by 1.3 percent (compared to December 2022).
- The Group intends to remain focused on optimizing its balance sheet and improving shareholder returns, IHC said in a statement.
Business
Bayer to cut management jobs
The company recently reported a net loss of US$4.9bn in Q3.
- The chief executive Bill Anderson said in a statement that the company was not happy with "this year's performance"
- Bayer said it plans to remove "multiple layers of management and coordination" by the end of the year
Business
Amanat net profit up 73%
The company posted a 44 percent growth in revenues for 9M-period.
- Revenu growth was driven by strong performance at the Education platform up more than two times, boosted by contribution from the recently acquired Human Development Company.
- Amanat reported an increase in EBITDA by 65 percent year-on-year to AED173.7 million in 9M 2023, on track to significantly exceed the AED188 million recorded in full year 2022.