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Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Avia to buy 40 Boeing aircraft

The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.

Emirates half-year profit $2.5bn

The record profit is subject to new 9% corporate tax for the first time.

Lulu’s IPO raises $1.72bn

The proceeds make it the largest UAE IPO of 2024 to date.

Riyadh tripartite meet pledges to implement Beijing Agreement

Riyadh, Saudi Arabia -- The second meeting of the Saudi-Chinese-Iranian Joint Tripartite Committee to follow up on the Beijing Agreement...

Magritte’s ‘Empire of Light’ to fetch nearly $100m at New York auction

New York, United States -- With a Magritte painting estimated to sell for nearly $100 million, drawings by pop artist Keith...
  • The seminal 1954 work is one of a series of paintings from the Surrealist master depicting the interplay of shadow and light.
  • Its estimated price is $95 million, which would easily shatter the previous record for a Magritte, $79 million in 2022.

End of a love affair: news media quit X over ‘disinformation’

Paris, France -- News outlets have begun quitting X, formerly Twitter, once a favorite of global media but now accused of...
  • Sweden's newspaper of reference, the left-liberal Dagens Nyheter (DN), on Friday became third major media outlet to stop publishing its articles on X.
  • "Since Elon Musk took over, the platform has increasingly merged with his and Donald Trump's political ambitions," said editor-in-chief Peter Wolodarski.

Lebanon economic losses top $5 billion in year of clashes: World Bank

Beirut, Lebanon -- More than a year of clashes that recently escalated into war have cost Lebanon more than $5 billion...
  • The losses are "largely concentrated in the commerce and tourism and hospitality sectors... as well as in the agriculture sector", the Bank said in a report.
  • "The final cost of damage and losses for Lebanon associated with the conflict is expected to significantly exceed those presented in this assessment," the report said.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.
  • Salik reported 355.6 million revenue-generating trips, which increased 5.1 percent YoY to drive total revenue of AED1.640 billion.
  • Revenue from toll usage, comprising 86.7 percent of total revenue, rose 5.1 percent YoY to AED1,422.2 million in the nine-month period.

Saudi-hosted summit says Mideast peace requires end to Israeli occupation

The summit's closing statement said that "a just and comprehensive peace in the region... cannot be achieved without ending the...
  • The international community should "launch a plan with specific steps and timing under international sponsorship" to make a sovereign Palestinian state a reality, it added.
  • The leaders also condemned "horrific and shocking crimes" by Israel's army, saying they occurred "in the context of the crime of genocide".

Avia to buy 40 Boeing aircraft

The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.
  • Avia's first firm order with the aviation giant comes with an option to add another 40 jets later, Boeing and Avia said in a statement.
  • The purchase announcement came shortly after striking workers at Boeing last week approved a new contract proposal, ending a more than seven-week stoppage that cost it billions

Saudi crown prince demands Gaza, Lebanon ceasefires at Arab summit

Prince Salman also called on Israel not to attack Iran, highlighting improving ties between Saudi Arabia and its former regional...
  • Prince Mohammed bin Salman said the international community must "immediately halt the Israeli actions against our brothers in Palestine and Lebanon".
  • A draft resolution for the summit stresses "firm support" for "national rights" for the Palestinian people, "foremost among which is their right to freedom".

Arab, Muslim leaders fly to Saudi Arabia for talks on Gaza, Lebanon

Riyadh, Saudi Arabia -- Arab and Muslim leaders have begun arriving in Saudi Arabia for a summit scheduled for Monday that...
  • The Saudi foreign ministry announced the summit in late October during the first meeting of an "international alliance" pushing for a two-state solution.
  • The 57-member OIC and 22-member Arab League include countries that recognize Israel and those firmly opposed to its regional integration.

Bitcoin hits $80,000 for the first time on Trump return optimism

London, United Kingdom -- Bitcoin soared to a new record high on Sunday, as traders bet that Donald Trump's return to...
  • It has been rising since Republican candidate Trump won last Tuesday's US presidential election over sentiment that he will ease regulations on digital currencies.
  • During his first presidency Trump referred to cryptocurrencies as a scam, but has since radically changed his position, even launching his own platform for the unit.

Global food prices reach 18-month high, vegetable oil cost soars

Paris, France -- Global food prices rose in October to their highest level in 18 months, with a sharp increase in...
  • The FAO Food Price Index, which tracks monthly changes in international prices of a basket of food commodities, reached 127.4 points last month, a 2% increase from September.
  • It was the highest since April 2023 but still 20.5 percent lower than the peak reached in March 2022 following Russia's invasion of agricultural powerhouse Ukraine.

Riyadh tripartite meet pledges to implement Beijing Agreement

Riyadh, Saudi Arabia -- The second meeting of the Saudi-Chinese-Iranian Joint Tripartite Committee to follow up on the Beijing Agreement...

Latest News

Lebanon economic losses top $5 billion in year of clashes: World Bank

Beirut, Lebanon -- More than a year of clashes that recently escalated into war have cost Lebanon more than $5 billion...

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Saudi-hosted summit says Mideast peace requires end to Israeli occupation

The summit's closing statement said that "a just and comprehensive peace in the region... cannot be achieved without ending the...

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Saudi crown prince demands Gaza, Lebanon ceasefires at Arab summit

Prince Salman also called on Israel not to attack Iran, highlighting improving ties between Saudi Arabia and its former regional...
  • Prince Mohammed bin Salman said the international community must "immediately halt the Israeli actions against our brothers in Palestine and Lebanon".
  • A draft resolution for the summit stresses "firm support" for "national rights" for the Palestinian people, "foremost among which is their right to freedom".

Arab, Muslim leaders fly to Saudi Arabia for talks on Gaza, Lebanon

Riyadh, Saudi Arabia -- Arab and Muslim leaders have begun arriving in Saudi Arabia for a summit scheduled for Monday that...
  • The Saudi foreign ministry announced the summit in late October during the first meeting of an "international alliance" pushing for a two-state solution.
  • The 57-member OIC and 22-member Arab League include countries that recognize Israel and those firmly opposed to its regional integration.

Bitcoin hits $80,000 for the first time on Trump return optimism

London, United Kingdom -- Bitcoin soared to a new record high on Sunday, as traders bet that Donald Trump's return to...
  • It has been rising since Republican candidate Trump won last Tuesday's US presidential election over sentiment that he will ease regulations on digital currencies.
  • During his first presidency Trump referred to cryptocurrencies as a scam, but has since radically changed his position, even launching his own platform for the unit.