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Business

2PointZero posts profit surge

Growth driven by merger consolidation.

Mashreq Q1 profit rises

Total revenue increased 10% year-on-year.

TECOM profit climbs

High occupancy across assets boosts earnings.

Emirates Stallions Q1 revenue up 11%

The rise helped by strong demand in real estate

ADNOC Distribution 2025 dividend $700m

The company had reported EBITDA of $1.17 bn in 2025.

Trailblazing women transform finance in Arab world

Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.

Business

Asian markets mostly down as China sets 5 percent growth goal

Hong Kong, China - Asian markets largely fell on Tuesday after China set an ambitious five percent annual growth target and...

Business
Business

Record Airbnb bookings in Q1

The firm says results signal travel rebound.
  • Revenue in the first quarter was $1.5 billion, up 70 percent from the same period a year earlier, the company said.
  • The booking platform has found traction around the globe, but is fighting various regulatory challenges in several jurisdictions.
Business

Qatar records real estate transactions worth $57m from Apr 17-21

Qatar recorded real estate transactions worth 207.8 million riyals ($57 million) during the third week of April, a decrease of...
  • The deals in the third week include 32 vacant land deals worth 66.7 million riyals, accounting for 32 percent of the total value of the weekly transactions.
  • The highest average price for residential properties was recorded in Doha Municipality, which witnessed the execution of six deals worth 36.05 million riyals.
Business

Activists urge ad boycott if Musk muddies Twitter water

The groups urged advertisers to require that Twitter maintain its content moderation policies as a non-negotiable term of doing business...
  • Elon Musk’s $44-billion deal to buy Twitter must still get the backing of its shareholders and regulatory bodies
  • He has voiced enthusiasm for dialing back content moderation and no longer banning people for misusing the platform
Business

Increase in Japan’s imports of UAE crude oil in March

This puts the UAE on the top of crude oil providers and at crucial importance for the Japanese energy needs.
  • This puts the UAE on the top of crude oil providers and at crucial importance for the Japanese energy needs
  • Japan's total oil imports in March amounted to 89.15 million barrels, compared to 78.51 million barrels in February
Analysis

Saudi real estate rides high on positive sentiment

Saudi Arabia's real estate sector continues to show promising signs, with increasing tourist numbers, consumers returning to retail stores, and...
  • Q1 2022 saw an increase in the number of units built in Saudi Arabia's residential sector
  • In Q1 2022, Saudi Arabia's house price index rose by 0.4 percent compared to Q1 2021
Business

Pfizer Covid pill sees demand

The drugmaker reported another round of strong earnings.
  • The US pharmaceutical giant said its Paxlovid treatment for the virus would be a valuable means for governments to limit the severity of outbreaks
  • Pfizer Chief Executive Albert Bourla said the company is seeing “very strong signs of increasing demand for Paxlovid as it remains one of the best tools we have.”
Business

VARA of Dubai to make entry into Metaverse through ‘Sandbox’

Dubai’s Virtual Assets Regulatory Authority (VARA) will enter into the Metaverse with the establishment of its Metaverse HQ in the...
  • VARA is the world’s first regulator to make its debut in the Metaverse and seeks to ensure that the regulator is accessible to its industry
  • It was established to provide a secure and progressive operating framework for the virtual asset (VA) sector to be able to scale
Business

Stock markets steady awaiting start of Fed meet

Major stock markets mostly steadied Tuesday, with traders braced for a sharp US interest rate hike to curb soaring inflation....
  • With the increase widely forecast, investors will be closely looking for clues on the outlook for futures rate rises
  • Central banks worldwide are tightening borrowing costs despite concerns such action could hamper financial recovery from the pandemic
Business

Pfizer posts 77% jump in Q1 revenues to $25.7bn

Pfizer reported another quarter of huge revenues growth because of its Covid-19 vaccine on Tuesday, but lowered the company's full-year...
  • Net income jumped 61 percent to $7.9 billion
  • Pfizer confirmed its full-year revenues forecast, in which about just over half of total sales stem from the Covid-19 innoculation and from Paxlovid
Business

Iran oil minister meets Venezuela President amid rising oil prices

The two countries are said to have discussed ways to ‘overcome’ the effects of US sanctions against both nations.
  • Javad Owji's visit to Venezuela came just weeks after a visit by US officials in the midst of rising global oil prices
  • In March, a US delegation held a meeting with Maduro, whose very legitimacy as president Washington disputes

Trailblazing women transform finance in Arab world

Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.
Business

Company News

Latest News

‘Mainstream sustainability for a net-zero future’

“As the UAE gears up to host COP28, it's crucial to involve all partners in hastening climate action, both locally...
Business

Chinese high-end EV brand Zeekr to make Middle East debut

Dubai, UAE - Chinese luxury electric vehicle manufacturer Zeekr, a subsidiary of Geely, is set to make its debut in...
Business

Saudi Arabia eyes global EV role following Lucid’s plant setup

Riyadh, Saudi Arabia  -- Saudi Arabia aims to become a global player in manufacturing electric vehicles (EVs) and related products,...
Economy
INSEAD Day 4- 300x600
INSEAD Day 4- 300x600

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Business

Aramco to invest in LNG

The deal will be Aramco's first international investment in LNG.
  • Aramco is likely to acquire a minority stake worth $500 million in MidOcean Energy, which is managed by the US investment firm EIG.
  • Aramco wants to become "a leading global LNG player", the firm's upstream president Nasir K. al-Naimi said.
Business

New update allows ChatGPT to use internet for fetching data

New York, US - The generative AI platform ChatGPT can now fetch data directly from the internet and gather up-to-date information...
  • "ChatGPT can now browse the internet to provide you with current and authoritative information, complete with direct links to sources," OpenAI said.
  • Until now, ChatGPT's responses to user queries were based on a vast database, which did not contain information from after August 2021.
Geostrategy

Israel sells Arrow 3 missile defense system to Germany for US$3.5bn

TEL AVIV, ISRAEL - Israel's US$3.5-billion sale of its Arrow 3 missile defense system to Germany, sparked by security fears after...
  • Israeli arms exports reached a new record of $12.5 billion dollars last year, double the amount from three years earlier, says its defense ministry.
  • Israel, together with its top ally the United States, has developed hi-tech systems designed to knock incoming rockets and missiles out of the sky.