Air Arabia shareholders approve 20% dividend for FY2023
SHARJAH, UAE – Air Arabia shareholders approved the distribution of a 20 percent cash dividend for the financial year ended...
Business
Dubai receives 1.77m international tourists in January this year
Dubai, UAE--Dubai welcomed 1.77 million international tourists in January 2024, an increase of 21% compared to 1.47 million visitors in...
Business
Business
GM sees strong demand in 2022
In Q4 2021, GM saw global car sales sink
- Profits fell in the final quarter of 2021 as GM saw global car sales sink but the US automaker still managed to notch a record $10 billion in annual profits
- GM signaled it expects comparable profits in 2022 in spite of cost pressures in commodities, freight services and labor
Opinion
Technology changes worker-firm relationship
Technology is allowing firms to shift an increasing share of work outside of their traditional boundaries, reducing costs and improving...
- Together, the rise of work-from-home and the gig economy have loosened the boundaries of the firm, making the ideas of a workplace and a worker more fluid
- Today, technological advances and the emergence of new digital platforms are allowing firms to shift an increasing share of work outside of their traditional boundaries
Analysis
Why do Arabs pitch for European football clubs?
For several years, there has been a rush of investments from GCC countries into European sports. TRENDS explores the reasons...
- Saudi Arabia's Public Investment Fund recently bought Newcastle United for $418 million
- Abu Dhabi’s Sheikh Mansour had picked up Manchester City in 2008
Business
Sanad picks new CEO
Sanad, a subsidiary of Mubadala Investment Company, has appointed Mansoor Janahi as the new Group CEO.
- The appointment is a part of Sanad’s new plan to expand its business beyond the aerospace sector
- The strategy and leadership announcements follow the launch of "Operation AED300bn" last year
Business
Sharjah Shopping Promotions sees 40 percent more shoppers this season
The Sharjah Chamber of Commerce and Industry (SCCI) has seen off another season of the 48-day "Sharjah Shopping Promotions" campaign....
- The volume of purchases throughout the 48-day campaign grew by 25 percent.
- Some 653 shops and stores took part in the event, offering attractive discounts of up to 75 percent on leading brands and various types of goods
Economy
Second instalment of Sunref energy program launched in Palestine
Bank of Palestine (BOP) and Proparco in cooperation with the EU have jointly announced the signing of Sunref II Green...
- The purpose of SUNREF Green Finance Program is to provide solutions to promote energy efficiency and renewable projects.
- The program plays a crucial role in the Palestinian ecological system since energy services’ costs are high.
Business
DP World begins construction of Banana Port in Democratic Republic of Congo
DP World and Government of the Democratic Republic of the Congo (DRC) Tuesday laid the first stone to mark the...
- DP World and Congo government laid the first stone to mark the construction of the port capable of handling the largest vessels in operation.
- The port will have a container handling capacity of about 450 000 TEUs (20-foot equivalent units) per year, and a 30-hectare yard to store containers.
Business
ExxonMobil posts Q4 profit
ExxonMobil reported a profitable fourth-quarter Tuesday to conclude a strong comeback year in 2021 on higher oil prices amid recovering...
- The oil giant reported annual profits of $23 billion last year compared with a loss of $22.4 billion in 2020 when demand was dented by the Covid-19 lockdowns
- In the fourth quarter, ExxonMobil's upstream business benefited from higher prices in oil and natural gas, which surged 63 percent
Business
Oman and Finland seek to boost business ties
Oman and Finland are looking to boost cooperation between the private sectors of two countries, particularly in the fields of...
- The meeting also highlighted aspects of enhancing cooperation between the private sectors of the two countries
- The Finnish minister underscored his country’s keenness in developing relations between the two countries
Business
Silal to deploy IoT sensors in 100 farms for improving productivity
Silal, Abu Dhabi-based food and agritech company, in collaboration with Hoogendoorn, one of the world’s innovators in horticulture, on Tuesday...
- Silal will collaborate with Hoogendoorn, one of the world’s innovators in horticulture.
- This project is aimed at enabling local farmers and advisors to make better decisions on irrigation, fertilization, and crop management to maximize locally-grown fresh produce.
Air Arabia shareholders approve 20% dividend for FY2023
SHARJAH, UAE – Air Arabia shareholders approved the distribution of a 20 percent cash dividend for the financial year ended...
Business
Company News
Latest News
IsDB to finance projects worth US$800m in member states
JEDDAH, SAUDI ARABIA - The Board of Executive Directors (BED) of the Islamic Development Bank (IsDB) approved to finance projects...
Geostrategy
$17.32bn projects launched on first day of Cityscape Riyadh
Riyadh, Saudi Arabia -- The Cityscape Global Exhibition, which kicked off Sunday in Riyadh, witnessed the launch of real estate...
Business
Saudi Arabia’s first social network Jaco attracts 1m users in 2 months
RIYADH, SAUDI ARABIA:Â Â The supervisor of the Kingdom's first social network Jaco - Saudi entrepreneur Fahd Al-Shidi announced that the...
Business
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Business
ADES prices IPO $3.33-$3.60 per share
The book-building process starts Sunday and run through Sept. 14.
- ADES International Holding, an oil and gas driller backed by Saudi Arabia’s sovereign wealth fund, PIF, expects to raise more than $1 billion.
- The offer will comprise 338.7 million ordinary shares-- 101.62 million shares by ADES, the PIF and Zamil Investment Company, and 237.10 million new shares through capital hike.
IMF head urges G20 leaders to deliver promised US$100bn for climate finance
New Delhi, India-- Appealing to G20 members to lead by example in delivering on the promise of US$100 billion per...
- Ahead of COP28, the IMF managing director said that target must be raised to reduce emissions to prevent grave risks to economic well-being
- She urged countries to mobilize domestic resources to finance and manage the green transition through tax reforms, efficient public spending
Business
QFCA, QSE sign agreement with Malaysian firm to advance bonds and sukuk
Doha, Qatar--The Qatar Financial Centre Authority (QFCA), Qatar Stock Exchange and Malaysian Rating Corporation Berhad (MARC) have entered into a...
- The agreement entails organizing events to foster knowledge, develop market infrastructure to support Qatar's bonds and Sukuk market
- The partnership extends to exploring opportunities to establish best standards and practices in the domains of sustainability and debt capital markets