Dubai Chambers legal events draw 1,551 business representatives in H1
Dubai, UAE -- Dubai Chambers said it organized 15 legal events during the first half of 2026, attracting 1,551 representatives...
Business
ADNOC Okays $6.2bn Umm Shaif project to expand UAE supply
Dubai, UAE -- Abu Dhabi National Oil Company (ADNOC) has approved a final investment decision (FID) worth $6.2 billion to...
Business
Business
Foxconn net profit jumps 33%
Its net profit for October-December rose to US$1.6bn.
- The company said net profit for October-December rose to Tw$53.1 billion (US$1.6 billion)
- The strong figures follow better-than-expected profits in its third quarter thanks to rising demand
OpenAI partners with Le Monde and Prisa Media
Prisa Media chief executive Carlos Nunez called the OpenAI alliance a "step toward the future of news" where technology and...
- OpenAI will be able to use content from Le Monde and Prisa Media publications including El Pais, Cinco Dias, and El Huffpost to train the models powering its AI
- In the coming months, ChatGPT users will be able to get summaries of news content from the publishers along with links to original articles, according to OpenAI
Business
ADNEC to organize first Bitcoin MENA Conference in Abu Dhabi
Abu Dhabi, UAE--ADNEC Group has announced the launch of the region's first Bitcoin MENA Conference 2024 set to take place...
- The even will be co-organised by Capital Events and BTC Inc., the parent company of Bitcoin Magazine and the Bitcoin 2024 conference
- The hosting of the conference marks a significant milestone in the world's largest Bitcoin conference’s expansion into the MENA region
Business
Ramadan influences consumer habits, retail strategy
The ongoing fasting month brings traditional practices and modern shopping habits together, impacting market trends significantly in the Gulf region.
- The ongoing fasting month brings traditional practices and modern shopping habits together, impacting market trends significantly in the Gulf region.
- From altered shopping hours to a rise in e-commerce and spending on traditional foods and gifts, Ramadan shapes retail landscape in unique ways.
Inditex posts record net profit
Inditex, the world's biggest fashion retailer, is owned by Zara.
- The net profit of Inditex reached 5.4 billion euros ($5.9 billion) last year, up 30 percent from 4.1 billion euros in 2022
- The figure was in line with the expectations of analysts polled by financial data firm FactSet, who predicted profits of 5.36 billion euros
Business
Adidas posts 2023 loss
In 2024, it expects sales to grow at a "mid-single-digit rate".
- The loss of 75 million euros ($82 million) followed a profit of 612 million euros the previous year
- Two Yeezy sales in 2023 brought in 750 million euros, well below the 1.2 billion euros of revenue the logo had generated in 2022
Business
Volkswagen profit up
It delivered some 9.2 million cars to customers in 2023.
- Its profit rose 13.1 percent to $19.6 billion from the previous year
- The German auto giant expects vehicle deliveries to advance this year
Business
Over 70% report revenue surge in UAE from digital payments, Visa finds
Dubai, UAE - More than 70% of surveyed retailers in the UAE have experienced increased revenue and higher customer footfall since...
- The study focused on two groups of merchants - those accepting digital payments for 1-4 years and those exclusively dealing in cash transactions
- 95% of digital payment-accepting merchants believe that the value derived from digital payment acceptance are on par with or exceed the associated costs
Business
Thousands of international companies join Dubai Chamber of Commerce in 2023
Dubai, UAE--A study undertaken by Dubai Chamber of Commerce has revealed that Indian investors topped the list of nationalities of...
- Some 15,481 new Indian-owned companies became members in 2023, representing year-over-year (YoY) growth of 38 percent
- Pakistan ranked second in terms of new company memberships in 2023, with the chamber welcoming 8,036 new businesses in 2023
Opinion
Cyber insurance shapes the future of cybersecurity
Cyber insurance, particularly around ransomware, is moving towards a world where insured businesses have strong cyber resilience, well-defined disaster recovery...
- Rising cyber-attack and ransomware effectiveness boosts demand for cyber insurance, leading to increased premiums and stricter coverage rules amid impact on businesses.
- Business risks have evolved from physical to digital, propelling cyber insurance toward a predicted $84.62 billion industry by 2030, highlighting the sector's rapid growth.
Dubai Chambers legal events draw 1,551 business representatives in H1
Dubai, UAE -- Dubai Chambers said it organized 15 legal events during the first half of 2026, attracting 1,551 representatives...
Business
Company News
DEWA profit after tax $789m
Business
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IHC H1 net profit $2.94 billion
Business
Abu Dhabi awards contract for mega solar project
Dubai, United Arab Emirates -- Abu Dhabi, the capital of leading oil producer the United Arab Emirates, said Friday it...
Business
Silver price hits decades high as gold rush eases
Stock markets, meanwhile, were mixed as traders weighed a slew of issues: massive AI investments, corporate results, US interest rates,...
Business
Gold tops $4,000 for first time on political, economic worries
US and European stock markets mostly rose while Asian equities fell as investors also kept tabs on the AI investment...
Business
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Business
GITEX25: G42 to host fireside chat with OpenAI CEO Sam Altman
Abu Dhabi, UAE – G42, the Abu Dhabi-based technology group, Wednesday announced its participation at GITEX Global 2025 with the...
- The G42 District will serve as a one-stop destination for government officials, business leaders, and visitors to explore how AI is being operationalized across sectors.
- It will feature G42’s full portfolio of companies - including Core42, Khazna, M42, Presight, CPX, Inception, Space42, AIQ, AstraTech and Analog.
Economy
WTO hikes 2025 trade growth outlook but tariffs to bite in 2026
The WTO raised its forecast for trade volume growth in 2025 to 2.4 percent -- up from 0.9 percent in...
- In an unusual move, the global trade body has revised its estimates several times this year due to uncertainties surrounding the new tariffs imposed by the Trump administration.
- Since returning to office in January, Trump has slapped several waves of new tariffs on imports entering the United States.
Business
Ajman records $808 million in real estate transactions in September
Ajman, UAE -- Real estate transactions in Ajman reached AED 2.97 billion in September, achieving a remarkable growth of 53...
- The number of real estate transactions during September reached 1,739, while the number of real estate tradings reached 1,393, with a total value exceeding AED1.87 billion.
- A total of 241 mortgage transactions were registered, with a total value exceeding AED474 million.