Rotana announces the soft opening of Dar Rayhaan in Saudi Arabia
Abu Dhabi, UAE – Rotana, one of the leading hotel management companies in the region with over 100 properties in...
Business
DIB logs 15% net profit growth
Business
EasyLease revenue grows by 37.5%
Business
Aston Martin H1 revenue up
Business
Business
e& Q1 net profit $653m
Its consolidated revenues rose 0.8 percent to AED13.3 billion.
- At constant exchange rates, revenue rose 3.5 percent and EBITDA was up 2.8 percent year-over-year
- The number of Etisalat UAE subscribers reached 13.1 million in Q1 2022
Business
Alwaleed blinks as Musk buys Twitter
Prince Alwaleed is one of the wealthiest businessmen in the Middle East, but Elon Musk is the richest person in...
- Last week, KHC Chairman and Twitter shareholder Prince Alwaleed rejected Elon Musk's bid to acquire Twitter Inc for $54.20 per share
- Alwaleed had stated that the deal proposed by Musk did not ‘come close to the intrinsic value’ of the popular social media platform
Business
UAE’s first waste-to-energy plant set be commissioned
The 30 MW plant will displace almost 450,000 tonnes of CO2 emissions a year and preserve the equivalent of 45...
- The 30 MW plant will displace almost 450,000 tonnes of CO2 emissions a year and preserve the equivalent of 45 million m3 of natural gas
- BEEAH and Masdar have begun exploring opportunities for the Emirates Waste to Energy company to open similar plants across the UAE and the wider region
Business
Indian PM meets UAE business delegation on visit to Kashmir
Modi said a total of $4.97 billion private investment is on its way to Jammu and Kashmir.
- Modi said a total of $4.97 billion private investment is on its way to Jammu and Kashmir
- In August 2019, New Delhi revoked Article 370 of India’s constitution that lent the then state its autonomous status within the Indian Union
Business
Arab Brazilian Chamber, FUNAG sign cooperation MoU
The agreement is expected to reinforce the ABCC’s operations in the cultural area and allow for it to get closer...
- The cooperation agreement apparently provides for a collaboration in research, studies, and academic activities in areas of common interest
- These include bilateral relations and diplomatic history, trade, investment, science, technology and innovation, sustainable development, and energy
Business
HSBC Q1 pretax profits down 30%
Higher-than-expected credit losses and inflation are to blame.
- Tuesday's results of London-based HSBC were published against the backdrop of Russia’s invasion of Ukraine
- The bank said the war was exacerbating inflationary pressures and contributing to higher ECL charges
Analysis
New trends drive Arab automotive growth
From pre-owned cars to electric vehicles, a number of trends are driving the growth of the automobile sector in countries...
- Saudi imports of cars grew from 544,000 in 2020 to over 546,000 in 2021
- Around 28% of those polled in the UAE said they prefer to buy a used car online
Business
Musk’s world and we just live in it
Buying Twitter is just the latest conquest for Musk, who has revolutionized the car industry, sent his own rocket to...
- Musk, 50, last year became the world's richest person taking the title from Amazon's Jeff Bezos
- His new guise as a social media overlord will fuel controversy over his political views, business methods and outsized personality
Business
Elon Musk reaches deal to buy Twitter for $44 bn
"Free speech is the bedrock of a functioning democracy, and Twitter is the digital town square where matters vital to...
- The sale was a dramatic shift for the board, which had originally maneuvered to block Musk from taking the social media network private
- Musk had taken a major stake in the firm earlier this month before lining up last week some $46.5 billion in financing to push forward with the purchase
Business
GM plans electric Corvette
Traditional carmakers are in a race to make more electric vehicles.
- GM has set a goal of overtaking Tesla in terms of sales of electric vehicles
- To achieve that, it plans to invest $35 billion in electric and autonomous vehicles by 2025
Company News
Meta posts big earnings
Business
Latest News
DIB logs 15% net profit growth
Business
EasyLease revenue grows by 37.5%
Business
Major airlines cancel dozens of flights to Tel Aviv
Air France-KLM group's low-cost carrier Transavia announced it was cancelling all flights from Paris and Lyon to Tel Aviv up...
Geostrategy
In a world first, EU gives nod to green bond standards
Brussels, Belgium - European Parliament has adopted a new voluntary standard for the use of a “European Green Bond” label, the...
Economy
Qatar Chamber forms two committees to develop insurance sector
Doha, Qatar - The Qatar Chamber (QC) has established two technical teams to further develop the country’s insurance sector. One...
Economy
Most Read
Business
Dubai Customs strengthens partnerships with courier firms to expand e-commerce
DUBAI, UAE - Dubai Customs recently convened an extensive meeting with the courier and express shipping companies, aimed at bolstering...
- Dubai Customs unveiled its cutting-edge e-commerce project, strategically leveraging blockchain technology to streamline supply chain operations.
- It also addressed all queries from participating companies and shared insights into the department's systems in this context.
Economy
FAO raises its forecast for global cereal production in 2023
ROME, ITALY - The Food and Agriculture Organization of the United Nations (FAO) raised its forecast for global cereal production...
- The higher forecast is almost entirely based on recent and more positive yield estimates for the Russian Federation and Ukraine.
- There will be increased wheat consumption while global rice utilization is forecast at 520.5 million tons.
Economy
Circular economy is a critical pathway to build sustainable future: Almheiri
Dubai, UAE-- Terming the circular economy as a critical pathway that builds a sustainable future by preserving natural resources, reducing...
- Almheiri noted that the UAE is keen to promote the circular economy that contributes to sustainable growth through the cooperation of all key stakeholders
- The review meeting took note of the pioneering efforts and actions taken by partners across the UAE to support the country's transition toward a circular economy