Rolls-Royce back into profit
The engine maker swung to profit of $3bn from a loss of $1.64bn in 2022.
Business
solutions signs $118m contract
Business
Inditex posts record profit
Business
DEWA launches camp for women
The two-month virtual camp is said to feature six learning tracks.
- The virtual self-development camp is being attended by 200 participants across different divisions
- It will focus on balancing personal and professional lives, career success tools, and self-development and adjusting to change
SABIC inks $6bn China deal
Saudi Basic Industries Corporation is the chemical arm of Aramco.
- SABIC’s deal in China is expected to see it build a mega petrochemical complex in the country
- The total investment going into the project will reportedly be 40 billion yuan ($6.18 billion)
Business
Google to appeal €500m French fine
The fine, issued by the French Competition Authority in July, was the biggest in the agency’s history for a failure...
- The fine, issued by the French Competition Authority in July, was the biggest in the agency’s history for a failure to comply with one of its rulings
- The watchdog said Google had failed to negotiate with media companies in a battle over the internet giant’s use of snippets of articles, photos and videos in search results
Business
Windows 11 rollout from October 5
Microsoft said the first rollout would upgrade Windows 10 PCs.
- The free upgrade for Windows 10 PCs will be phased and measured with a focus on quality
- Computers that come preloaded with Windows 11 will also become available for purchase from October 5
Business
OptiNAND: WD’s new disk feature
Data retention, performance enhanced in the new architecture.
- OptiNAND offers customers a solution to meet the demand for storing vast amounts of data.
- A drive works smarter with enhanced firmware algorithms.
Stella Stays eyes $12bn Bahrain push
This is part of its expansion plans in the Middle East region.
- Stella Stays operates a portfolio of managed properties in the UAE, Bahrain and Canada
- The startup, launched in late 2019, has grown to manage nearly 300 properties as of August
Meydan taps Empower for cooling
Empower will also acquire the existing cooling plant in the area.
- The total capacity provided would be 382,000 RT
- It will serve the needs of 750 existing and upcoming buildings in the city
Business
Bahrain mall eyes $159m expansion
The expansion work on The Avenues will be launched in Q3 2021.
- The expansion will add a leasable area of approximately 40,000 sq m to the shopping center
- The total gross leasable area will reportedly be approximately 77,500 sq m
Business
DEWA’s sustainability report out
It focuses on social, economic and environmental aspects.
- The 8th annual Sustainability Report 2020 focuses on DEWA’s efforts in promoting sustainability with its social, economic and environmental aspects
- The authority follows the best international practices as well as sustainable and integrated systems that ensure providing value-added services
Husqvarna Construction gets new GM
With this, the company eyes growth in the MEA region.
- Jeff Bennett’s broader responsibilities include achieving rapid growth in emerging markets, and shaping the company future
- He is also expected to spearhead the organization’s efforts to arrive at a competitive position in the MEA region
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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
Rolls-Royce back into profit
The engine maker swung to profit of $3bn from a loss of $1.64bn in 2022.
Business
Company News
HSBC relaunches SVB UK
Business
solutions signs $118m contract
Business
Inditex posts record profit
Business
Latest News
EGA H1 net profit $533 million
The firm expects growth in primary production and recycling business.
Business
Lego first half profit dips 17%
But the toy giant's market share grew as sales rose slightly.
Business
Ryanair inks pact with Joramco
The airline is likely to carry 300m passengers a year by 2034.
Business
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Geostrategy
French President says change in existing world order would weaken West, Europe
PARIS, FRANCE - Attempts to change the existing world order threaten to weaken the West and especially Europe, French President...
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
- Emmanuel Macron said the role of the UN Security Council, International Monetary Fund and World Bank are constantly being challenged.
Business
AviLease acquires aircraft leasing platform
The $3.6bn deal will see AviLease acquire a portfolio of 100 aircraft.
- The combined platform will own and manage 167 of the latest technology, fuel efficient aircraft, consisting of 145 owned valued at around $6 billion.
- AviLease arranged $2.1 billion of competitive bridge financing commitments from four banks: BNP Paribas, Citibank N.A., HSBC Bank Middle East and MUFG Bank.
Business
SAMI launches radio systems line
PIF-owned SAMI will be partnering with the Ministry of Defense.
- SAMI CEO Waleed Abdulmajeed Abu Khalid underlined the partnership in strengthening relationships with L3Harris, the world's leading defense company.
- In June, SAMI signed an agreement with Safran Helicopter Engines for engine maintenance and repair.