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...
Saudi Arabia submits official bid to host FIFA World Cup 2034 after successful Qatar event in 2022
The next steps include official visits by FIFA and a comprehensive evaluation of the bid.
Economy
Business
Over 4,800 take part in Dubai corporate volunteering program
Over 4,800 employee volunteers participated in Dubai Chamber of Commerce’s 'Give & Gain 2022' initiative. Volunteers dedicated 17,460 hours across...
- Volunteers dedicated 17,460 hours across projects benefitting more than 147,000 individuals
- The month-long event is part of Dubai Chamber of Commerce ENGAGE Dubai corporate volunteering program
Business
Saudi Esports Federation allies with ASUS Republic of Gamers for Saudi eLeagues
Gamers8, the largest esports and gaming event worldwide, takes place during eight weeks from July 14.
- Gamers8, the largest esports and gaming event worldwide, takes place during eight weeks from July 14
- The event features top esports action alongside a series of festivals, concerts, shows, and more
Business
Elon Musk deal to buy Twitter in danger: report
Twitter shares slid late Thursday after a Washington Post report that Elon Musk's $44 billion deal to buy the social...
- According to the Post, however, Musk has been unable to pin down the percentage of Twitter accounts that are not genuine
- Twitter shares, which were already trading lower than the price offered by Musk, sank about four percent on the news
Business
Summer break, Eid push up Saudi air ticket prices
The kingdom, which has 15 domestic airports, is witnessing a significant increase in the prices of domestic flights, ranging between...
- Saudi Arabia's domestic airports are witnessing active travel due to the summer break and Eid al-Adha
- There has been an increase in the prices of domestic flights tickets, ranging between 32% to 314%
Business
British Airways staff halts strike after better pay offer
A strike by British Airways staff at London Heathrow Airport this summer has been called off after an improved pay...
- Members of the GMB and Unite unions recently backed action as surging inflation erodes the purchase power of wages.
- Unions had previously threatened a "summer of strikes" after last month's vote, but had not given any precise dates.
Business
Eid: Sharjah Economic Development Department to intensify market campaigns
Sharjah Economic Development Department (SEDD) said it is ready for Eid al-Adha to ensure the safety of markets through the...
- The campaigns carried out by SEDD included all food service establishments, retail and wholesale stores, men's and women's salons, and gold markets.
- These establishments include Al Jubail market, livestock markets and others, in addition to various economic activities that are in great demand at this time.
Economy
Record exports help US trade deficit reach its lowest in 2022
The US trade deficit with China declined again, falling $2.8 billion to $32.2 billion in May, on another big drop...
- Surge in oil sales, natural gas and consumer goods pushed American exports up by $3 billion to $255.9 billion.
- Multiple export categories set records, including industrial supplies, autos and parts, and also petroleum.
Economy
17 institutions win Real Estate Excellence Award in Sharjah
The Sharjah Real Estate Registration Department has announced that 17 institutions have won the Real Estate Excellence Award. The awards...
- Sharjah Real Estate Registration Department awards are part of a plan to make the emirate an attractive global destination
- One of the plans are to attract investors and consolidate the emirate's position as a sustainable knowledge economy
Economy
Common Reporting Standards to be mandatory in UAE, says CBUAE
Common Reporting Standards is a global methodology for the automatic exchange of financial accounts and tax-related information with other financial...
- The CRS is a global method for the automatic exchange of accounts with other financial regulatory organizations across the world
- The CBUAE is keen to comply with global standards as part of its mission to enhance monetary policy and financial stability
Business
Dubai records real estate transactions worth $435 million Wednesday
Dubai real estate market recorded 454 sales transactions worth AED1.24 billion ($337 million), in addition to 96 mortgage deals .of...
- The sales included 436 villas and apartments worth AED1.1 billion, and 18 land plots worth AED148.73 million.
- Mortgages included 92 villas and apartments worth AED206.75 million and four land plots valued at AED52.27 million.
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...
Company News
e& capital invests in Maxbyte
Business
Latest News
Chinese BYD posts record Q3 profit
The third-quarter profit of $1.42bn is its highest-ever single-quarter earnings.
Business
SABIC Agri-Nutrients profit falls
SABIC Agri-Nutrients Q3 net profit fell 55% to $280 million.
Business
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Business
Mulk, Ajman Holding form JV
Collaboration in the T10 Cricket League key element of the JV.
- The joint venture will also promote the Alubond range of products, Mulk International’s premier brand and the world’s largest metal composite panel manufacturer.
- Mulk International, has production facilities of Alubond and operations in Asia, Europe, Africa and the Middle East with a sales network of more than 100 countries.Â
Business
Borouge Q3 net profit up 22%
The rise in net profit was driven by 16% increase in sales.
- The company has committed a dividend of $1.3 billion (15.9 fils per share) for the 2023 financial year, which equates to a 6.3 percent current dividend yield.
- Third-quarter revenue increased 6 percent quarter-on-quarter, reaching $1.5 billion, and declined 11 percent year-on-year. On a year-on-year basis, net profit declined by 9 percent
Business
Saudi Ministry of Investment and Agility sign MoU to boost healthcare sector
Riyadh, Saudi Arabia-- Saudi Arabia and Agility have signed a memorandum of understanding (MoU) to introduce cutting-edge health technology and...
- The agreement includes the potential to widen digital health services and localizing the supply chain for innovative new medical technologies
- The MoU looks to widen people's access to preventative health services to combat chronic diseases such as cardiovascular disease and breast cancer