Tawuniya Q1 2023 net profit $20m
Business
Finland firm to slash 1,150 jobs
Business
Tecom secures $2.06bn loan
Business
Vodafone merges with Hutchison
Business
Business
Apicorp to allot $1bn for green energy
The bank will make the investment over the next two years.
- Currently, green assets comprise more than 13 percent of the bank’s overall portfolio
- This is equal to around $550 million in loans and direct investments
Business
Adnoc Drilling sets IPO share price
The initial price is set at AED2.30 (around $0.63) per share.
- The subscription period for the Adnoc Drilling IPO will close on September 23 for UAE retail investors
- It will close on September 26 for qualified domestic and international institutional investors
Business
Knight Frank strengthens UAE team
The company hires two members for Industrial and Logistics.
- Company credits Maxim Talmatchi, who was hired as manager and co-head of Industrial and Logistics, with 300 successful transactions.
- Dumitru Mamaliga, hired as industrial surveyor, has focused in the industrial and logistics sector in the UAE since 2017.
Kuwait Airways to resume New York flight
The destination is in high demand from business travelers, tourists.
- Two kinds of aircraft will be operated for the route.
- The airways has resumed operations from various destinations.
DGCX, Zimbabwe exchange ink pact
DGCX will extend technical support and skills to VFEX.
- The aim of the agreement is to establish an international commodities exchange in Zimbabwe.
- The one-year agreement was signed during the visit of a high-level Zimbabwean ministerial delegation.
Business
Lanzone is new Yahoo boss
Yahoo has been gradually supplanted by titans like Google
- Yahoo has been gradually supplanted by titans like Google and was bought this year by private equity firm Apollo Global Management in a deal for Verizon's media properties.
- Yahoo remains popular with internet users, particularly for its financial and sports news, and claims 900 million monthly users.
Business
WhatsApp users may encrypt backups
FB was recently accused of breaching WhatsApp users’ privacy.
- Mark Zuckerberg has announced that WhatsApp will let users encrypt chats they choose to back up
- The facility will be available for users of devices that can run Apple’s iOS and Google’s Android
Business
TIER takes e-scooter service to Bahrain
This came as part of TIER’s ongoing expansion in the Middle East.
- Bahrain is the third country in the Middle East and 14th overall where TIER has a presence
- It launched in Bahrain by collaborating with the country’s Ministry of Transportation and Telecommunications
Business
Adnoc Drilling eyes $86m rigs
Adnoc, Adnoc Drilling, and H&P have formed an alliance for this.
- The rigs are expected to be delivered and commissioned in stages over a 12-month period
- The process is subject to acceptance upon successful completion of a final inspection on customary terms and conditions
Business
AD Ports plans new $154m terminal
The new terminal will be at the Khalifa Port in Abu Dhabi.
- The terminal will be managed by a joint venture where AD Ports Group will have a 30 percent stake
- CMA CGM’s subsidiary CMA Terminals will have a 70 percent stake in the JV
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Company News
Jamjoom Tadawul debut on Jun 20
Business
Bupa renews contract with SABIC
Business
Latest News
Tawuniya Q1 2023 net profit $20m
Business
Finland firm to slash 1,150 jobs
Business
Tecom secures $2.06bn loan
Business
Turkish Airlines orders 10 A350 Airbus
The airline disclosed no financial details in a statement.
Business
Mubadala, Petrobras sign MoU
The two parties will explore potential investment in a biofuel project.
Business
Emirates NBD invests in Komgo
The equity investment was made by Emirates NBD's Innovation Fund.
Business
Most Read
Business
Alahmadi joins SHUAA Board
He is set to be part of the Board's Investment Committee.
- Alahmadi's career includes stints at global giants like Mubadala and Rothschild & Co. More recently, he was associated with the CEO Office of ADQ
- His current portfolio also includes a position as an independent member of the Audit and Risk Committee for ADX-listed firm, Presight AI Holdings.
Business
Estithmar opens new subsidiary in Jordan
The subsidiary was set up in partnership with a Jordanian company.
- In August, Estithmar Holding subsidiary Elegancia Healthcare established a branch in Iraq.
- Estithmar Holding had signed agreements with the Iraqi investment authority worth $7 billion.
Business
SABIC-Sinopec China plant opens
The plant is located in their jointly owned petrochemical firm.
- Sinopec SABIC Tianjin Petrochemical Company, established in 2009, consisting of nine manufacturing units.
- The production capacity of the new polycarbonate factory is 260,000 tons per year.