Luxury stocks: when good results are not enough
Luxury sales are rising, but investors remain increasingly selective as markets reward durable, high-quality growth over headline gains, says etoro...
Analysis
Business
OPEC chief calls for more investments in oil industry to meet energy demand
Abu Dhabi, UAE--The Organisation of the Petroleum Exporting Countries (OPEC) has called for increased investments in the oil industry to...
- Al Ghais said the investments are crucial for ensuring reliable energy supplies for current and future generations
- At the same time, the secretary general noted the organisation's active involvement in climate change negotiations
Business
Türkiye’s traditional realty charm: Alive or fading?
Driven by its strategic location, cultural heritage, and government incentives, Türkiye's real estate market remains a focal point for regional...
- Driven by its strategic location, cultural heritage, and government incentives, Türkiye's real estate market remains a focal point for the region amid economic fluctuations.
- Despite challenges, the ongoing infras and urban renewal projects in Türkiye, a country straddling Europe and Asia, signal a promising horizon for property investments.
Market Report
Geopolitical tensions boost oil, weigh on equities
Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest...
- Moscow has escalated its aerial attacks on Kyiv, targeting key infrastructure in the wake of Ukrainian attacks on Russian oil facilities.
- Russia is a key producer of oil, while the Gaza-Israel war has given rise to worries about Middle Eastern crude supplies.
Business
Aramco CEO highlights collaboration with Beijing at forum in China
AL-DHAHRAN, SAUDI ARABIA – Aramco President and CEO Amin Nasser outlined the potential for stronger collaboration with Chinese partners in...
- The CEO acknowledged China's economic growth in recent decades, and expressed admiration for the country’s ability to overcome challenges.
- He underscored the possibility of fostering broader economic globalization by strengthening ties with Chinese partners.
Business
RSG, Hyundai Motor ink pact
The two firms will explore opportunities in various areas.
- The two parties will focus on validating and deploying Hyundai Motor Group's eco-friendly mobility solutions.
- They will explore future mobility solutions, such as autonomous vehicles, Advanced Air Mobility and maritime vessels.
Business
ESA, SAP ink agreement
ESA will consolidate operations under a single ERP solution
- ESA will benefit from a streamlined and integrated system, improving visibility and control over all of its operations.
- ESA will be using an integrated supply chain model that eliminates process silos, predicts disruptions.
Business
Nissan to shrink EV production costs
The automaker will slash production costs by 30 percent.
- By 2030, Nissan aims to make electric models at the same price as traditional combustion engine cars, the firm said as it announced a new mid-term strategy
- Japanese auto giant Nissan said Monday it aims to launch 30 new models over the next three years, 16 of which would be "electrified"
Business
SCCI and Thailand look to boost economic cooperation
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry and Thailand have explored ways to boost trade and economic cooperation. In...
- The two sides discussed the potential establishment of a Thai Business Council, under the auspices of the Sharjah Chamber, to stimulate joint investments
- The Thai delegation during its meeting with the SCCI underlined their desire to facilitate the Emirati jewellery designers’ participation in the Bangkok Fair
Business
Feeding fit: Saudi Arabia redefines the poultry sector
In February 2024, Saudi Arabia's poultry industry reached a milestone by producing 100 million kilograms of poultry, thereby setting new...
- In February 2024, Saudi Arabia's poultry industry reached a milestone by producing 100 million kilograms of poultry, thereby setting new benchmarks in the global market.
- This underscores the Kingdom's strategic push towards agricultural innovation, economic diversification, and food security, aligning with the ambitious Vision 2030.
Arts & Culture
World’s only Dragon Ball theme park launched in Saudi Arabia’s Qiddiya City
RIYADH, SAUDI ARABIA – The Board of Directors of the Qiddiya Investment Company (QIC) revealed on Sunday the launch of...
- Nestled within Qiddiya City, just 40 minutes from Riyadh, this never-seen-before anime theme park is set to become a spectacle.
- Inspired by the seven legendary Dragon Balls, visitors can navigate seven distinctively themed zones within the park.
Company News
Latest News
TotalEnergies net profit soars despite lower oil prices
Paris, France -- French oil and gas giant TotalEnergies reported on Thursday a sharp increase in third-quarter net profit despite...
Business
AI chip giant Nvidia becomes world’s first $5 trillion company
New York, United States -- AI chip juggernaut Nvidia became the world's first $5 trillion company on Wednesday, as investors...
Business
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Business
Nvidia to take stake in Nokia
Nvidia share price soars 20%.
- It said it would issue more than 166 million new shares, for which Nvidia would pay $6.01 per share.
- Under the partnership, Nokia "intends to increase its presence in the AI and cloud market with data center aligned networking solutions."
Business
Amazon to cut 30,000 office jobs: media reports
Amazon will lay off tens of thousands of office workers as the e-commerce and tech giant trims costs amid ramped-up...
- The reduction will represent nearly 10 percent of the approximately 350,000 office jobs at Amazon but is reported not to affect the distribution and warehouse workforce
- Amazon chief executive Andy Jassy has lauded the potential of AI to streamline workplace operations, from engaging with customers online to making offices more efficient
Geostrategy
Nigeria refinery aims to be world’s biggest with expansion
Lagos, Nigeria -- Nigeria's Dangote oil refinery, already the largest in Africa, aims to become the biggest in the world...
- "We are more than doubling the barrels... to 1.4 million from 650,000," said Aliko Dangote, a Nigerian businessman who is Africa's richest person.
- The Dangote refinery has sparked monopoly fears as it becomes a powerful player itself.