Gazans fear renewed displacement after Israeli strikes
Residents say the strikes have targeted neighborhoods east of the so-called Yellow Line -- a demarcation established under the truce...
Geostrategy
China’s smaller manufacturers look to catch the automation wave
Yancheng, China -- In a light-filled workshop in eastern China, a robotic arm moved a partially assembled autonomous vehicle as workers...
Geostrategy
Business
Atlantis Dubai first Eastern Hemisphere Certified Autism Center resort
Dubai, UAE -- Atlantis Dubai becomes the first resort destination in the Eastern Hemisphere to gain the Certified Autism Center...
- To meet IBCCES requirements, Atlantis Dubai ensured that over 80 percent of its colleagues received training in autism and sensory awareness.
- More than 90 percent of guest-facing colleagues across both resorts underwent training in Autism & Sensory Awareness (ASA).
Business
Arabian Travel Market’s sold-out Travel Tech area grows 56% YoY
Dubai, UAE -- More than 100 of the world’s leading travel technology companies will be exhibiting at Arabian Travel Market...
- 33 percent more exhibitors participating this year, thanks to unprecedented demand from companies looking to showcase their innovations in front of a global audience.
- The global travel technology market was valued at $9.4 billion in 2022 and is projected to reach $21 billion by 2032.
Market Report
Geopolitical tensions boost oil, weigh on equities
Geopolitical tensions sent oil prices climbing and weighed on equities as investors also continued to worry about prospects for interest...
- Moscow has escalated its aerial attacks on Kyiv, targeting key infrastructure in the wake of Ukrainian attacks on Russian oil facilities.
- Russia is a key producer of oil, while the Gaza-Israel war has given rise to worries about Middle Eastern crude supplies.
Business
ADNIC approves cash dividend of $69m
The company had posted its highest-ever net profit of $109.1m for 2023.
- Earnings per share (EPS) had climbed year-on-year (YoY) to AED 0.70 in 2023 from AED 0.63.
- During 2023, ADNIC's total insurance revenue hit AED 4.64 billion, down from AED 4.66 billion a year earlier.
Business
Mubadala acquires KELIX bio
KELIX bio is a specialty pharmaceutical business.
- KELIX bio was incepted in November 2020, and has since acquired manufacturing businesses in India, Egypt, Malta and Morocco.
- Mubadala said the acquisition aligns with Mubadala's goal to position the UAE prominently in the global life sciences sector.
Geostrategy
European Union probes Apple, Google, Meta under new digital law
Among six firms named as market "gatekeepers" under the EU's landmark Digital Markets Act -- along with Amazon, TikTok owner...
- The European Commission, the EU's antitrust regulator, said it suspects the measures the firms have put in place so far "fall short of effective compliance".
- Under the new rules, the commission can impose fines of up to 10 percent of a company's total global turnover. This can rise to up to 20 percent for repeat offenders.
Arts & Culture
Paris crowns champion waiters in one-of-a-kind ‘cafe race’
Paris, France -- Visitors to central Paris were treated Sunday to the sight of hundreds of aproned waiters surging through the...
- First born in 1914, the "course des garcons de cafe" was held on March 24 for the first time since 2011 -- four months before the city hosts the Olympics in July-August.
- The 200 contestants started and finished the race at city hall by the Seine river, set on their way by mayor Anne Hidalgo.
Business
Boubyan Bank okays 8% cash dividend
The Bank's general assembly also approved 6% in bonus shares.
- The Bank managed a record growth rate of 39 percent, while registering KD 80.4 million ($262.75 million.
- Chairman Boubyan Bank Abdulaziz Abdullah Dakheel Al-Shayahe said the bank continued its precautionary approach by allocating KD 31.7 million in provisions.
Geostrategy
Gaza fighting rages as UN chief decries ‘horror and starvation’
Guterres urged an end to the "non-stop nightmare" endured by Gaza's 2.4 million people in a visit to the Egyptian...
- Deadly fighting meanwhile rocked Gaza, where Hamas reported 21 deaths on Saturday at an aid distribution point on the outskirts of Gaza City.
- Hamas said they were killed by Israeli "tank fire and shells". Israeli forces also pressed on with their offensive in and around the Al-Shifa hospital complex.
Business
Petro Rabigh net loss up 320% in 2023
The company narrowed losses to $367 million in Q4.
- The company said the losses piled up primarily due to the challenging market conditions adversely affecting the margins for both refined and petrochemical products and other factor
- The company’s accumulated losses as of December 31, 2023, amounted to SAR 6.40 billion representing 38.34 percent of the company’s share capital of SAR 16.71 billion.
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
Gazans fear renewed displacement after Israeli strikes
Residents say the strikes have targeted neighborhoods east of the so-called Yellow Line -- a demarcation established under the truce...
Geostrategy
Company News
Latest News
Mubadala acquires stakes from GHH
It acquired an 80 percent stake in Global Medical Supply Chain.
Business
Musk’s AI startup raises $6bn more, Saudi and Qatari funds among investors
Paris, France -- Billionaire tech mogul Elon Musk's startup xAI said it had raised $6 billion from investors in its latest...
Business
Most Read
In stabilization bid, Syria’s new ruler declares all weapons under state control, including Kurdish arms
Ahmed al-Sharaa announced all weapons, including those held by Kurdish-led forces, will come under state control, emphasizing unity and coexistence...
- Sharaa spoke alongside Turkish Foreign Minister Hakan Fidan, after earlier meeting with Lebanese Druze leaders and vowing to end "negative interference" in the neighbouring country
- Turkey has maintained strong ties with Syria's new leaders, and has continued military operations against Kurdish-held areas in northeastern Syria
Geostrategy
Pope again condemns ‘cruelty’ of Israeli strikes on Gaza
"And with pain I think of Gaza, of so much cruelty, of the children being machine-gunned, of the bombings of...
- The mounting criticisms of Israel appear to mark a change in the pope's tone in recent weeks. He has consistently called for peace since the beginning of the Israel-Hamas war
- At the end of September, the Pope also criticized Israel's "immoral" use of force in Gaza and in Lebanon
Geostrategy
Tunisia women herb harvesters struggle with drought and heat
In Tunisia's highlands, women harvest wild herbs to earn a living, but drought is making their work harder, shrinking incomes...
- Tunisia produces around 10,000 tons of aromatic and medicinal herbs each year, according to official figures.
- Rosemary accounts for more than 40 percent of essential oil exports, mainly destined for French and American markets.