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DAE 9M net profit $310m

The company said this was a 54.9 percent YoY increase in net profit.

ADNEC to acquire ‘Royal Catering’

Royal Catering has more than 2.500 employees.

PIF sets up sarcc company

The new entity will address growing staff accommodation demand.

Boeing to cut 10% of workforce

The company has projected a large third-quarter loss.

AviLease acquires 9 aircraft from Avolon

AviLease had purchased 13 aircraft from Avolon in 2023.

Lebanon: Pharmacies go on strike over medicine shortages

The country is facing what the World Bank has called one of the world's worst economic crises since the 1850s...

Dubai authorities probe Jebel Ali Port blast

Dubai authorities were Thursday investigating an explosion on a container ship carrying flammable materials which unleashed a fireball at one...

Curbs, vaccination drive help GCC minimize COVID-19 impact

Strict restrictions and intensive vaccination drive help the region deal with the pandemic Massive drop in global oil demand and...

Dubai’s consumer confidence surges to a ten-year high, signaling economic recovery

The second quarter of 2021 saw consumer optimism at its highest Consumer confidence rose to 151 points as against 125...

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private...

Oil prices extend gains after OPEC+ talks fail, equities mixed

Brent broke above $77 for the first time since 2018 Breakdown of talks raises the possibility of $100 a barrel...

Disagreement between UAE, Saudi Arabia hobbles OPEC

The UAE on Sunday pushed back against a plan by the OPEC+ group to extend a pact to cut oil...

Fewer restrictions, fast vaccination give Dubai edge in events sector

The emirate plans to host one of the biggest gas conferences and an African investor summit this year Dubai aims...

New standardization, metrology legislation to drive UAE’s industrial sector: Sultan Al Jaber

New UAE standardization and metrology legislation will boost its industrial sector and national economy The standardization regulations will create an...

Saudi Arabia among top 10 in terms of mobile Internet speeds

Recent reallocation of frequency spectrum likely to increase the capacities of radio networks, improve quality of services Country plans to...

Argentina seizes 1.6 tons of cocaine headed for Dubai

Argentine authorities seized 1.6 tons of cocaine hidden in animal feed destined for Dubai and detained 12 people, police said...

Company News

Latest News

RAK Properties net profit rises 348% to AED120m in H1

Revenues of the UAE-based real estate firm, which is listed on the Abu Dhabi Stock Exchange, grew by 121 percent...

Saudi economy likely to grow nearly five percent this year

Saudi economy is expected to grow 4.8 percent in 2021 from 2.2 percent last year, according to the estimates of...

UAE among world’s fastest countries in deploying 5G

The latest technology is likely to accelerate the deployment of tech solutions that enable establishment of smart cities, including smart...

Most Read

Man faces 20 years in prison in US for illegally exporting laboratory equipment to Iran

Reza Sarhangpour Kafrani, aka Reza Sarhang, co-owned the Canada-based company Prolife Global, which conducted business in the US and elsewhere.

CEOs of listed Saudi firms resign in unusual numbers

At least 26 CEOs have resigned from the listed companies of Saudi Arabia in just last six months as the...

WHO urges action to suppress Covid before deadlier variants emerge

The highly-transmissible variant, first detected in India, has now surfaced in 132 territories and is partly to blame for an...