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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 families ‘spend 5 times minimum wage’ on food

The Mediterranean country is battling what the World Bank has described as one of the planet's worst financial crises since...

Smart cards and robots: Saudi Arabia’s ‘digital hajj’

The digital system also allows the authorities to guide the tens of thousands who attend the annual event, which in...

Netflix turning to games as streaming growth slows

Analysts said the Netflix move is not aimed at disrupting the expanding gaming market but keeping its own viewers interested...

Saudi Arabia gets tougher on shadow economy

Following the introduction of an anti-concealment law early this year, Saudi Arabia has stepped up its efforts to crack down...

Turkey faces uproar by seeking shift on Cyprus

On a trip to the north of divided Nicosia on Tuesday, Turkish President Recep Tayyip Erdogan said there should be...

Powering Iraqi homes one switch at a time

Iran decided last month to cut power supplies to Iraq, saying the it owes it more than $6 billion in...

What’s in store for UAE as OPEC+ decides to increase oil output?

The UAE’s oil production limit fixed by the OPEC+ in 2018 is not a reflection of its full production capacity,...

UAE, Saudi leaders meet after rift over oil policy

Two key leaders of Saudi Arabia and the United Arab Emirates met in Riyadh on Monday, emphasizing the ties between...

Israeli spyware taps 50,000 phone numbers worldwide

An Israeli firm accused of supplying spyware to governments has been linked to a list of tens of thousands of...

ADCB’s H1 net profit surges 76% to AED 2.524 billion

Abu Dhabi Commercial Bank has reported  a 76 per cent jump in first-half net profit to AED2.524 billion on the...

ABB to pay US$315m fine

Two affiliates of ABB pleaded guilty to bribery charges.

Company News

Latest News

GCC seeks to tap green hydrogen demand

The GCC countries see hydrogen as a key factor in fuel transition and have drawn up plans to export green...

Saudi customs seize drugs at port

Alert officials of Saudi customs prevented an attempt to bring in contraband drugs into the kingdom at Jeddah Islamic Port,...

Saudi British Bank posts $245m net profit in Q2, year after big losses

A year after posting billions in losses, Saudi British Bank (SABB), an affiliate of HSBC Holdings, has posted a sizeable...

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‘Potential hijack’ of ship off UAE coast: UK maritime security agency

The MarineTraffic website, which categorises the vessel as an asphalt and bitumen tanker, said it was travelling to Sohar, a...

Israel can ‘act alone’ against Iran after ship attack: Bennet

Bennett said Israel had shared intelligence with the United States, Britain and others also tying Iran to the attack.

UAE’s non-oil economy picks up in July, strongest in two years

Latest IHS Markit UAE PMI says firms hoped easing of COVID-19 restrictions and the Expo 2020 later this year would...