Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...
Social media platform X to shutter local operations in Brazil
Social media platform X, formerly Twitter, will shutter its local operations in Brazil following a bitter legal tussle over the...
Opinion
Integrity of digital infrastructure crucial for companies
For businesses who feel they have no choice but to pay cybercriminals in order to unlock their files, they not...
- Businesses across the globe are losing the battle when it comes to defending themselves against ransomware attacks
- A robust security strategy is therefore one of the key pillars of an overarching digital transformation plan, says an expert
Business
Reforms make Dubai region’s most open realty market
Revised lending norms, focus on sustainability and improved digital services and data availability help the emirate advance in JLL's Global...
- Lending reforms, focus on sustainability and improved digital services and data availability help the emirate advance in JLL's Global Real Estate Transparency Index
- Despite moving up one spot in the global rankings, Abu Dhabi is still classified as having 'Partial Transparency' in its governmental practices, the JLL index points out
Geostrategy
UAE, Türkiye discuss enhancing relations in various sectors
A UAE delegation led by Minister of Industry and Advanced Technology Dr Sultan bin Ahmed Al Jaber has concluded a...
- A UAE delegation led by Minister of Industry and Advanced Technology was on a two-day visit to Türkiye aimed at enhancing cooperation
- The visit included meetings with senior government and private sectors officials as well as a UAE-Türkiye Investment Workshop
Geostrategy
Biden holds joint investment talks with UAE, Israel and India
US President Joe Biden held joint investment talks Thursday with Israel, India and the United Arab Emirates, as Washington seeks...
- The multilateral summit was convened in Jerusalem where Biden is on his first Middle East tour as president.
- During the summit the UAE announced it would invest 2 million euros (dollars) in agricultural projects in India.
Economy
European stocks fall on fears of aggressive Fed interest rate hike
Europe's main stock markets slid at the open on Thursday, as a fresh spike in US inflation reinforced expectations of...
- In initial deals, London's FTSE 100 index lost 0.3 percent to 7,138.54 points compared with the closing level on Wednesday.
- In the eurozone, Frankfurt's DAX index slid 0.2 percent to 12,733.34 points and the Paris CAC 40 shed 0.4 percent to 5,977.05.
Business
Twitter down for short period in US, Europe, restored later
Twitter experienced a widespread but seemingly brief outage in the United States and parts of Europe on Thursday. The Downdetector...
- The Downdetector website showed that outage reports spiked in the United States around 1200 GMT and by around 1245 GMT reports of outages to Downdetector were dropping off
- Short term service disruptions on social media platforms happen periodically while long-term service outages on social media platforms are not common
Economy
ADFD, ADEX to give US$92m loan for Bahrain water supply project
Abu Dhabi Fund for Development and the Abu Dhabi Exports Office signed two loan agreements with the Electricity and Water...
- AED will provide US$ 41mn to the Electricity and Water Authority in Bahrain to finance a water supply network project
- ADEX will provide US$ 51 million for the project which aims to enhance the capacity of the water transmission networks
Business
Bank Muscat net profit up 5 percent
The bank said profits up despite lower net interest income and higher expenses.
- The Bank said that net interest income from conventional banking and net income from Islamic financing reached 166.25 million riyals.
- Operating expenses went up by 8 percent to 102.71 million riyals.
Business
UAE imports of Spanish fruit and vegetables top AED181m
Spain exported a total of 22,827 tonnes of fruit and 17,753 tons of vegetables to the UAE last year.
- Spain exported a total of 22,827 tonnes of fruit and 17,753 tons of vegetables to the UAE last year
- The Fruit Attraction 2022, the leading exhibition for the fruit and vegetable sector, is scheduled to be held from October 4-6 in Dubai
Business
Saudi Ports Authority reports 16% jump in cargo in June
Saudi Arabia has reported a 16 percent increase in cargo volumes to 27.1 tons in June 2022, according to the...
- According to figures 27.1 million tons went through the nine ports managed by the authority, compared to 23.4 million in June 2021
- According to Mawani, Saudi ports received 1,126 vessels in June, rising by 13.6 percent compared to the same period last year
Asia shares edge up and dollar down; oil gains
Asian shares crept cautiously higher on Monday, while the dollar and bond yields were on the wane ahead of inflation...
Company News
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Vietnam’s VNG files for US IPO
Business
Firms listed on Qatar Stock Exchange post 9M profit of $10.27bn
Doha, Qatar -- Companies listed on the Qatar Stock Exchange have reported a net profit of QR 37.42 billion ($10.27...
Business
Foreign investments rise in NE China due to several projects
SHENYANG, CHINA – Investments in the country’s northeast have grown over the past years as several multinational corporations put in...
Business
Bupa Arabia’s 9M 2023 up 27%
The third quarter net profit fell 23% compared to the Q3 2022.
Business
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Economy
Saudi Arabia’s Q3 real GDP falls by 4.5% on decreased oil activities
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) decreased by 4.5 percent in the third quarter of...
- Non-oil activities and government activities grew by 3.6 percent and 1.9 percent respectively in the third quarter due to a 17.3 percent fall in oil activities.
- Seasonally adjusted real GDP decreased by 3.9 percent in the third quarter compared to the previous quarter, due to a decrease in oil activities and government activities.
Business
Burjeel Holdings profit surges
Its revenue spiked to US$898m in the first 9 months of 2023.
- The company posted a162.6 percent increase to $37.30 million during the third quarter of 2023
- It plans to set up two medical centres in Dubai and Abu Dhabi and one Burjeel Day Surgery Centre in Al Dhafra
Samsung Q3 profit down 77.57%
The company's third-quarter profit was well above the first quarter's 640 billion.
- Samsung announced third-quarter operating profits of "2.4 trillion won ($1.7 billion) based on strong sales of flagship models in mobile and strong demand for displays"
- The company said net profit dropped 37.7 percent year-on-year to 5.8 trillion won -- though it represents a rebound from the second quarter's 1.7 trillion won