Turkish Airlines profits soar
In December, the airline ordered 230 Airbus planes.
Iran-Turkey trade expands to US$930m in first two months of 2024
Tehran, Iran--The trade exchanges between Iran and Turkey in the first two months of 2024 reached $930 million, showing a...
Business
Business
Mubadala, ENGIE to create digital platform for electric vehicles in Gulf
Mubadala Investment Company and ENGIE signed an agreement to explore the development of a digital platform for charging electric vehicles...
- The two companies will work on a joint solution for the installation and operation of charging infrastructure for Electric vehicles (EVs) in UAE.
- EVs are important in supporting decarbonizing the mobility sector as transport sector is known to be a contributor in global carbon footprint.
Business
Nintendo profits rise as demand booms
The rise is also attributed to the popularity of the Switch.
- The company, which has benefited from a string of popular titles including "Pokemon Legends: Arceus", posted a 2021-22 net profit of 477.7 billion yen.
- Uncertainties linked to the global chip shortage and potential production and transport delays caused by Covid-19 lockdowns could hit future profits.
Business
All that glitters: How the money-spinning IPL turned cricket into gold
IPL teams receive a share of television rights, around 15 percent of ticket sales and sponsorship money as well. They...
- IPL expanded to 10 teams this year from the original eight. Lucknow Super Giants and Gujarat Titans are the new franchises
- Disney paid $2.55 billion for a five-year television and digital rights deal to broadcast IPL tournaments on Star India
Business
Emirates Steel Arkan Q1 profit $19.62m
The firm said the impact of Emirates Steel and Arkan merger was positive.
- The company announced revenues of AED2.04 billion for the first quarter of 2022, compared to AED233.5 million in 2021.
- It said the net profit was boosted by enhanced operational performance and higher sales volumes.
Geostrategy
France says EU deal on Russia oil embargo possible this week
The embargo on Russian oil, which is part of a sixth package of EU sanctions under discussion, is being resisted...
- New discussions on the Russian oil embargo are expected to be held between European leaders by telephone on Tuesday
- It will involve French President Emmanuel Macron, EU Commission President Ursula von der Leyen, and Hungary's Prime Minister Viktor Orban
Business
Sony logs record full-year sales
However, net profit dipped 14% from the last year's record high.
- A lockdown-fueled gaming boom has slowed down, but Sony has seen success in other sectors
- Spider-Man: No Way Home has overtaken Avatar as North America's third-highest-grossing film
Business
Agthia Group Q1 revenue is Dh1b
The company’s net revenues are up 58% year-on-year.
- Net profit increased to AED 82 million, growing at a higher rate vs revenue and supported by the consolidation of margin accretive acquisitions in 2021
- Strong start to 2022 builds on successful first year of Agthia’s five-year growth strategy
Analysis
‘Workplaces must prioritize mental health’
In many industries, working from home is the way of the future and a better working and mental lifestyle, Quartz...
- People tense or stressed at work are more than three times likely to plan to look for a new job
- In contrast, employees who feel supported are more likely to stay, lowering turnover costs
Science
Saudi Space Commission looks to explore cooperation with NASA
Saudi Space Commission Board of Directors Chairman Abdullah Amer Alswaha is on a tour of the US to develop the...
- The two countries discussed opportunities for strategic cooperation to develop the space sector
- They also mulled investment in future joint projects to achieve mutual economic and strategic goals
Market Report
Bitcoin falls below $30,000, lowest since July 2021
Bitcoin slumped below $30,000 for the first time since July 2021 on Tuesday as cryptocurrencies track sinking markets with investors...
- Bitcoin's value has more than halved since a November surge that saw the token hit a record of nearly $69,000
- Traditional investors have been offloading bitcoin and other digital tokens along with other volatile assets like tech stocks
Turkish Airlines profits soar
In December, the airline ordered 230 Airbus planes.
Company News
Inma Holding profit tumbles
Business
Latest News
Red Sea Global launches Saudi’s first seaplane company
TABUK, SAUDI ARABIA - Red Sea Global (RSG), the multi-project developer behind the world’s most ambitious regenerative tourism destinations -...
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,...
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...
Business
Most Read
Geostrategy
Qatar signs joint cooperation agreements with IMF on SDRs
Dubai, UAE - Qatar has signed two agreements with the International Monetary Fund (IMF) on its contributions towards IMF's poverty...
- Under one of the agreements, Qatar's contribution will be a loan from the special drawing rights account, a soft loan (an implicit contribution to the aid).
- Under the Resilience and Sustainability Trust fund agreement, contributions will be in the form of subscription packages consisting of loans, deposits and reserves.
EasyJet, Airbus sign US$20bn deal
The no-frills airline will buy 157 aircraft from Airbus.
- The airline on Thursday said it had "entered into conditional arrangements" with European planemaker Airbus for 157 aircraft
- Together the deal was worth $19.9 billion and "will deliver lower fuel burn, CO2 emissions and operating costs per seat", EasyJet said
Business
Jarir’s 9M profit down marginally
The fall was attributed to an increase in non-operating expenses.
- The third-quarter net profit rose by 8 percent to SAR 296.3 million, from SAR 273.72 million in Q3 2022, driven by a 4.8 percent rise YoY in sales.
- Total shareholders’ equity, no minority interest, stood at SAR 1.79 billion as of Sept. 30, 2023, down from SAR 1.80 billion a year earlier.