Countries where the X social network is banned and why
Paris, France - With its ban of X, which went into effect on Saturday, Brazil joins a small club of countries...
Business
Chinese EV company Xpeng shares up 6% post mass-market car launch
Xpeng shares rose after the Chinese electric car company launched its new mass-market Mona brand on Tuesday with prices starting...
Business
Twitter Q2 revenue at $1.18bn
Twitter reported disappointing results on Friday, a miss that the social network attributed to "headwinds" including the uncertainty related to...
- Twitter missed expectations with revenue of $1.18 billion, due to "advertising industry headwinds"
- Uncertainty related to the pending acquisition of Twitter by an affiliate of Elon Musk is also touted as a reason for the results
Geostrategy
‘Bilateral ties strengthened with UAE President’s France visit’
The French Ambassador to the UAE, Xavier Chatel, described the first official visit to France of UAE President Sheikh Mohamed...
- The French Ambassador to the UAE described the first official visit to France of UAE President as successful
- Sheikh Mohamed bin Zayed Al Nahyan's visit underscores deep-rooted friendship between the two countries
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.
Countries where the X social network is banned and why
Paris, France - With its ban of X, which went into effect on Saturday, Brazil joins a small club of countries...
Business
Company News
Latest News
Evergrande posts H1 loss
Business
Shell reports rise in profits
The company announces a buyback of shares worth $3.5bn.
ADX partners with HSBC to develop digital assets
Abu Dhabi, UAE - Abu Dhabi Securities Exchange (ADX) and HSBC Bank Middle East Limited are working together in the...
Business
ACWA Power 9M net profit up 22%
The company said higher operating income was the main driver.
Business
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Business
SABIC 9M net loss $277m
The company had posted a net profit of $4.32bn in 9M 2022.
- In the third quarter period, the petrochemicals giant swung to a net loss of SAR 2.9 billion, against a net profit of SAR 1.84 billion in Q3 2022, Argaam reported.
- SABIC cited stagnation in global demand for chemicals, which weighed on average selling prices, and led sales value to drop by SAR 7.3 billion year-on-year (YoY).
Interview
‘Business-based peace initiatives to ease tensions’
The Ukraine-Russia conflict and Gaza crisis are impacting investor confidence and economies in Jordan, Egypt, and Israel, Iyad Malas, CEO...
- The Ukraine-Russia conflict and Gaza crisis are impacting investor confidence and economies in Jordan, Egypt, and Israel, Iyad Malas, CEO of Al Ghurair Group, tells TRENDS.
- Iyad Malas highlights the need for digital transformation and the importance of public-private partnerships in digital investments, notably in infrastructure and healthcare.
Business
Iran ramps up oil production to 3.4m bpd, up from 2.9m bpd
Tehran, Iran-- Iran has ramped up its oil production to 3.4 million barrels per day (bpd), up from about 2.9...
- Iran's oil minister said the boost in the production is in line with measures taken by the current government of the Islamic republic
- According to officials in the oil sector, about 40,000 bpd have been added to the country’s oil production from the Sepehr and Jafir oilfields