Sweden’s gaming group Embracer divests Russian assets
Stockholm, Sweden - Swedish gaming group Embracer, which owns the Borderlands franchise and the Tomb Raider license, announced on Thursday that...
Business
Business
DFM 2021 net profit $28m
Its total revenues reached AED294.6m in 2021, reduces expenses by 4 percent.
- In the fourth quarter of 2021, the net profit increased by 269 percent to AED65.7 million compared to AED17.8 million in the corresponding period of 2020.
- The company's Board of Directors recommended a 3 percent cash dividend to the shareholders, which is equivalent to AED240 million.
Business
Oman and Syria agree to boost cooperation ‘in all fields’
The foreign ministers of Syria and Oman have held discussions on how to promote cooperation between the two countries on...
- They also underscored the importance of dialogue and resolving various issues through peaceful political solutions in a manner that serves aspirations of peoples
- The talks laid emphasis on the keenness of the two countries' leaderships to enhance and develop these relations in all fields
Business
Arada awards $87m housing contract in Aljada project
Arada has awarded an AED322 million ($87m) contract to build eight premium apartment buildings in Aljada, the AED24 billion lifestyle...
- The contract involves eight Tiraz buildings form part of Naseej District, the new creative neighborhood at Aljada, containing 920 homes.
- Spread over a 24 million square foot area, Aljada is Sharjah's largest ever project and a transformational destination for the Emirate.
Geostrategy
Qatar emir meets Biden in shadow of Ukraine tensions
The move underscores the Qatar’s strategic importance, including in a scramble to shield European allies from potential Russian energy cutoffs.
- US President Joe Biden recognized Qatar's place in the US military's global footprint: It hosts Pentagon's Central Command and a huge airbase
- Biden also announced he was designating Qatar a “major non-NATO ally,” which opens the door to closer military and commercial ties
Business
Lebanon power cuts turn cafes into coworking spaces
For the patrons filling Beirut's cafes these days, the most important things are good lighting and stable wi-fi.
- The power cuts have left many already with no option but to plant themselves in cafes all day
- The 23-hour power cuts and the falling quality of many internet connections have complicated matters
Business
Boeing sells 34 cargo planes to Qatar Airways
This deal with Qatar Airways should boost Boeing and its latest widebody plane the 777X.
- Qatar Airways also has purchase rights for another 16 777X cargo planes
- It also signed a letter of intent to buy 25 737 MAX planes worth $6.7 billion
Analysis
Low-code, no-code tools decode GCC’s digital gains
The growth of low-code tools, heightened by digital transformation, is expected to bring about general employee upskilling across several industries...
- Businesses adopt many tools when they are going through a digital transformation
- They are often categorized as low-code or no-code, depending on how much programming they need
Business
Business accelerator set to develop cybersecurity sector in Saudi Arabia
Saudi National Cybersecurity Authority (NCA) has launched a business accelerator specialized in the foundational technologies and priority emerging technologies in...
- The launch of the accelerator comes in a strategic partnership with the Saudi Information Technology Company (SITE)
- The accelerator will support the most growing sectors in cybersecurity by activating national and international partnerships
Business
New York Times buys ‘Wordle’
The deal was made for an "undisclosed price in the low seven figures."
- Created by engineer Josh Wardle, the game consists of guessing one five-letter word per day in just six tries
- Now millions play it daily, fueled in part by the ease of sharing spoiler-free results on social media
Infographics
Social media dominate popular websites in region
Globally, the top three websites -- Google, Youtube and Facebook -- woo more than 152 billion visits monthly, outpacing the...
- Beside Google, Youtube and Facebook, there are a few other online giants who have unmatched dominance in the cyberworld.
- Together, the top three websites woo more than 152 billion visits monthly, outpacing the next 47 websites combined
Company News
Latest News
ADNOC L&S gets new VLCC
Business
Alibaba names new CEO, chairman
Business
Care secures $93.3m Murabaha facility
The long-term facility was obtained from Gulf International Bank.
Business
ADES prices IPO $3.33-$3.60 per share
The book-building process starts Sunday and run through Sept. 14.
Business
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...
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Economy
Global food prices drop in August: FAO
Led by staples other than rice and sugar, the Food and Agriculture Organization of the United Nations revealed that its...
- Its Cereal Price Index dropped by 0.7% from July and International wheat prices dipped by 3.8% in August
- But in contrast, the FAO All Rice Price Index climbed up by 9.8% from July to reach a 15-year nominal high
Geostrategy
UAE President, Indian Prime Minister discuss strengthening bilateral, trade ties
NEW DELHI, INDIA - UAE President Sheikh Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi met to...
- The meeting was held on the sidelines of the 18th Group of 20 (G20) Heads of State and Government Summit in New Delhi.
- The two sides also exchanged views on various regional and international developments of mutual interest.
Business
Jordan-ASEAN Economic Forum to be held in March 2024, says ACC
AMMAN, JORDAN - Chairman of the Amman Chamber of Commerce (ACC) Khalil Haj Tawfiq said the Jordanian Economic Forum with...
- ACC will host the forum, in cooperation with Malaysia, Indonesia, the Philippines, Thailand and Sultanate of Brunei.
- Trade exchanges between Jordan and ASEAN grew by 42 percent during 2022, compared to 2021, ACC's statistical data said.