‘GCC set to dominate global cryptocurrency market’
“Oman is emerging as a standout in the regional crypto mining landscape, highlighted by its support of Exahertz, an Omani...
Business
Dubai approves rise in energy, water efficiency programs
DUBAI, UAE – Chairman of the Dubai Supreme Council of Energy Sheikh Ahmed bin Saeed Al Maktoum chaired the 81st...
Geostrategy
Economy
Allotted industrial & commercial land rules in Dubai amended
Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister has issued a decree regulating the grant of title...
- Sheikh Mohammed bin Rashid issued Decree No. (25) of 2022 amending some of the articles of Decree No. (4) of 2010
- Article (1) outlines the definitions in the decree, while Article (2) covers the ownership of granted land
Business
French oil, shipping firms reduce prices under government pressure
French oil group TotalEnergies and shipping giant CMA CGM announced price cuts on Friday as demanded by the government amid...
- French oil group TotalEnergies and shipping giant CMA CGM announce price cuts
- The French government demanded that energy and transport firm cut prices amid calls for windfall taxes
Economy
UAE Federal Tax Authority carries out 9,500 inspections in H1 2022
The Federal Tax Authority expanded its efforts in collaboration with various government departments, ministries and authorities to protect consumers from...
- During the first half of this year, the FTA carried out 9,948 inspection visits in local markets across the country
- Inspections conducted H1 of 2022 increased by 104 percent compared to 4,878 inspections conducted H1 of 2021.
Business
2.6% year-on-year rise in insurance sector assets in Q1 2022: CBUAE
The number of insurance policies increased Y-o-Y by 10.4 percent in Q1 2022 to 2.3 million policies compared to 2.1...
- The number of insurance policies increased Y-o-Y by 10.4 percent in Q1 2022 to 2.3 million policies compared to 2.1 million policies
- Gross Written Premiums increased Y-o-Y by 4.6 percent in Q1 2022 to AED 15.8 billion mostly due to an increase in property and liability insurance premiums
Business
Qatar Airways orders 25 aircraft
The airline ordered 25 Boeing MAX 10 jets worth $3.3bn.
- Boeing has triumphed over its European rival Airbus in the traditional Farnborough battle for orders this year.
- European rival Airbus cancelled a multi-billion-dollar order of 50 single-aisle A321neo jets from Qatar Airways.
Business
Arada H1 property sales up
The developer sold homes valued at $405m in Sharjah.
- The first half results saw completion of the company's first public financing deal, a $350 million sukuk issuance.
- The results come against Sharjah's booming property market, which saw a 65 percent increase in the total value of property sold in 2021.
Business
American Airlines registers Q2 profit
Profits were $476 million compared with just $19 million in the year-ago period.
- US carrier said its first profitable quarter, since the start of the pandemic, was due to operations
- American Airlines expects revenues of 10-12% above the 2019 level in the third quarter of 2022
Business
Amazon expanding health care
It will acquire US health care provider One Medical for $3.9 bn.
- The massive firm has steadily gone far beyond e-commerce, and earlier this year said its telemedicine service was expanding nationwide in the United States.
- One Medical, which has a network of primary care practices and telemedicine services, has grown to over 750,000 members.
Economy
Dubai Health Authority, Visa sign MoU to enhance health tourism
The Dubai Health Authority recently signed a Memorandum of Understanding (MoU) with Visa with the aim of enhancing Dubai's competitiveness...
- Visa cardholders would be given exclusive discounts on medical services by by members of the Dubai Health Experience
- The cardholders will be able to choose a range of medical services, book appointments and plan their treatment itineraries
Business
Dubai records real estate transactions worth $296m on Thursday
Dubai real estate market recorded 379 sales transactions worth AED1.09 billion ($296 million), in addition to 96 mortgage deals of...
- The sales included 359 villas and apartments worth AED755.34 million, and 20 land plots worth AED331.11 million.
- mortgages included 78 villas and apartments worth AED170.89 million and 18 land plots valued at AED148.89 million.
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‘GCC set to dominate global cryptocurrency market’
“Oman is emerging as a standout in the regional crypto mining landscape, highlighted by its support of Exahertz, an Omani...
Business
Company News
Tencent Q2 net income $3.6 bn
Business
Latest News
4.4m travel by SAR in H1 2023
Business
Dubai’s top 10 land deals in 2023 is worth US$2.3bn
DUBAI, UAE – A real estate brokerage based here has compiled the 10 largest land deals in the Emirate since...
Business
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Business
Multiply Group profit soars
Its Q3 revenue posted a 24 percent jump to US$96 million.
- The group posted a 337 percent increase in net profit, excluding fair value changes, to $90.12 million for Q3 2023
- It acquired a 55% majority stake in Media 247, a leading UAE outdoor advertising firm, at an investment of $61.26 million
Navigating the complex landscape of cyber insurance
The cyber insurance industry will persistently evolve as the threat landscape expands. As the criteria for insurability rise, enterprises shouldn't...
- Due to escalating cybercrime, insurance premiums have surged, with 85% of organizations falling victim to ransomware attacks in 2022 alone.
- Insurance is a part of a broader digital resilience strategy, and businesses confront a 'reality gap' between perceived and actual data protection levels.
Business
EasyLease Q3 revenue $57.66m
It's net profit was AED 26.5 million ($7.21m) in Q3 2023.
- it's net profit was AED 26.5 million ($7.21m) in Q3 2023, compared to AED 32.73 million ($8.91m) YoY over Q3 2022.
- Cost-effectiveness, exceptional maneuverability and expedited travel, are driving the popularity of two-wheelers in the UAE.