OPEC+ decides to keep oil production levels unchanged
Vienna, Austria--The participants of the 53rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum...
Business
flynas receives 50th jetliner out of 120 Airbus A320neo ordered
RIYADH, SAUDI ARABIA – flynas, the Saudi air carrier and the leading low-cost airline in the Middle East and the...
Business
Geostrategy
Emir of Qatar to visit Iran to boost World Cup cooperation
Qatar's emir, Sheikh Tamim bin Hamad al-Thani, is to visit Tehran Thursday following the Iranian president's visit to Doha, Iran's...
- Iranian foreign ministry spokesman Saeed Khatibzadeh said Monday that the Qatari leader would visit Tehran "in response to President Ebrahim Raisi's visit to Doha"
- Ties between Doha and Tehran have grown close over the years, with the two countries sharing the world's largest natural gas field
Economy
China, Europe to lead record renewable energy growth in 2022: IEA
The world will set a new record for renewable power capacity this year led by solar energy in China and...
- An additional 320 gigawatts is expected to be installed this year, equivalent to the entire electricity demand of Germany or the European Union's total generation from natural gas.
- Solar energy will account for 60 percent of renewable power growth in 2022, ahead of wind and hydropower, according to the agency, which advises developed nations on energy policy.
Business
Alpha Dhabi Q1 net profit $773m
Revenues stood at AED8.17 billion, a year-on-year increase of 700 percent.
- This was the first set of Q1 results for Alpha Dhabi since its direct listing on ADX in June 2021.
- The company's acquisitions and investments totaled AED5.21 billion.
Business
Toyota posts record net profit
The growth was helped by strong sales and a cheaper yen.
- The Japanese auto giant kept its crown as the world's top-selling carmaker in 2021
- For the current year to March 2023, it said it expects to post an annual net profit of $17.3 billion
Business
Qatar announces first arrests for fake World Cup merchandise
Approved merchandise has gone on sale in stores, but cheap imitations are available in street markets and online. Thousands of...
- FIFA sent out a phone text messages to Qatari numbers to dissuade the illegal use of the tournament emblem
- Approved companies for FIFA World Cup started selling products in stores, but cheap imitations can be found in street markets
Business
Empower provides district cooling services to 17% of the hotels in Dubai
Empower revealed this at the launch of the ‘Arabian Travel Market 2022’, which is being held at the Dubai World...
- Empower revealed this at the launch of the ‘Arabian Travel Market 2022’, which is being held at the Dubai World Trade Centre
- Empower expects its growth in the share of the hospitality sector to go up as a result of dozens of new applications received by the company from developers of new hotels
Business
Final refrain for iPod as Apple stops production
It packed "a mind-blowing 1,000 songs" the company said at the time, and together with Apple's iTunes shop established a...
- It packed "a mind-blowing 1,000 songs" the company said at the time, and together with Apple's iTunes shop established a new distribution model for the music industry
- The trend toward streaming music services, including one by Apple, has made devices designed just for carrying digital tunes around less enticing for consumers
Business
SME development in Gulf region still in early stages
It is essential to know that the governments can't and shouldn't do everything independently to encourage their national talents. A...
- Local talents are in short supply in the region in terms of skills and experience, says Amr Khashoggi, Chairman at Amkest Group
- Due to COVID 19, many employees have got used to working out of home and are not keen on going back to trudging along to the office or factory
Business
ADQ to fund investments worth more than $4 billion in Greece
ADQ will work with the Hellenic Development Bank (HDB), the national development bank of Greece, and Hellenic Development Bank of...
- In 2021, the value of non-oil foreign trade between the UAE and Greece reached nearly AED 2.1 billion.
- The growth of trade, when compared to 2020, was 67 percent, reflecting a significant spike in growth.
Business
Arada awards two deals
Under the $125.23m contracts, a residential district will be built at Masaar.
- Valued at AED228 million, the contract to build 142 villas in the Sendian district of Masaar was won by Kuwait's Al-Kharafi.
- The second contract worth AED232m to build the remaining 288 homes in Sendian was awarded to Intermass, a Sharjah-based contractor.
OPEC+ decides to keep oil production levels unchanged
Vienna, Austria--The participants of the 53rd Meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organization of the Petroleum...
Business
Company News
SABIC AN profit slumps 71% in H1
Business
Latest News
Inma Holding profit tumbles
Business
Disasters cause crop losses worth $3.8trn over 30 years, says FAO
PARIS, FRANCE - Natural and man-made disasters have caused $3.8 trillion in crop and livestock loses over 30 years, the UN's...
Economy
UAE sourced 30% of its gems and jewelry imports from India
Dubai, UAE - The gem and jewelry trade between India and the United Arab Emirates (UAE) has seen substantial growth,...
Business
Delta posts Q3 profits of $1.1b Â
The company’s revenues rose 11 percent to $15.5 billion.
Business
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Business
Dollar sukuk activity for 2023 on course to outpace 2022: Fitch
Dubai, UAE:Â US dollar sukuk issuance for 2023 is on course to outpace 2022 due to funding needs and diversification strategies,...
- The third quarter sukuk issuance in all currencies ($51.7 billion equivalent) issued in core markets was 12.3 percent lower YoY, while bond issuance fell by 17 percent YoY.
- Global outstanding sukuk expanded by 9.8 percent YoY to $823.4 billion at the end of third quarter, with the largest shares in Malaysia (40 percent).
Business
Real estate trading volume in Qatar exceeds US$88m in week
DOHA, QATAR - The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
- Total sales contracts for residential units in the Real Estate Bulletin for the same period is US$19.7 million.
- A weekly bulletin shows that the list of real estate properties traded for sale included vacant lands, houses, hotel.
Business
Container traffic rises 11.66 percent in September, says Mawani Â
RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) reported an 11.66 percent surge in container traffic across its trade...
- Passenger traffic jumped 79.29 percent over the preceding year’s figure of 40,679 passengers to hit 72,934 passengers in 2023.
- Mawani’s ports saw 11.83 percent additional vessels dock at its berths with a tally of 1,040 ships contrary to last year’s 930 ships.