Iran president says ‘rioters’ must not disrupt society
Pezeshkian accused the United States and Israel of "trying to escalate this unrest with regard to the economic discussion and...
Geostrategy
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
Business
Response Plus net profit surges in 2023
The Group's profit increased by 68% YoY to $13.52 million.
- The Group's equity increased to AED230.04 million as of December 31, 2023 from AED222.9 million in the previous year.
- The Earnings Per Share (EPS) increased to AED 0.25 in 2023 from AED 0.15 a year before, reflecting the Group’s commitment to profitability and shareholder value creation.
Business
Qatar’s Industrial Production Index surges 5.5 percent in Jan
Doha, Qatar -- Qatar's Industrial Production index (IPI) in January 2024 reached 108.7 points, an increase of 4 percent compared...
- In the mining sector, the index showed an increase by 4.9 percent compared to December 2023.
- In the water supply sector, a decrease of 0.9 percent was noticed in the production of 'water' between Dec 2023 and Jan 2024.
Business
Asian markets struggle as US data dents Fed rate cut optimism
Equities across the world had surged Thursday in response to the central bank's closely watched dot plot projection that it...
- All three main US indexes clocked up record highs for a second straight day on the back of a tech rally as traders contemplated an end to the era of two-decade-high rates.
- However, Asia struggled to maintain the momentum after a string of data reminded investors that the world's largest economy was still in rude health.
Business
ESG buys additional stakes in 2 firms
The stakes were acquired in Vision Factory and Decovision.
- ESG had acquired 60 percent stake in Vision Factory, a key player in furniture and joinery production, in 2022.
- ESG’s latest acquisition in Decovision, a premier provider of interior design and engineering services, increases its stake to 85 percent.
Business
Sharjah Islamic Bank signs Murabaha pact with Turkiye Wealth Fund
Sharjah, UAE -- Sharjah Islamic Bank (SIB) and the Turkiye Wealth Fund (TWF) have signed a Shariah-compliant Murabaha facility worth...
- This agreement, facilitated by Dogan Investment Bank, marks the first time the Turkish Sovereign Wealth fund has launched Shariah-compliant financing from an international source.
- The Turkiye Wealth Fund (TWF) is the entity responsible for the sovereign ownership of strategic and high-importance assets in Turkiye, including Turkish Airlines.
Business
UAE unveils National Policy on Biofuels aimed at emissions cut
The policy aims carbon emissions reduction through increased consumption of biodiesel by 20 percent by 2050. “It will lower the...
- The policy has been developed by the Ministry of Energy and Infrastructure in coordination with its strategic partners from the public and private sectors.
- Al Mazrouei said the policy supports the objectives of the National Energy and Water Demand-side Management Programme and the UAE Net Zero by 2050 Strategic Initiative.
Business
Emarat partners with Al Maryah Bank
Al Maryah gets first naming rights for Emarat fuel stations.
- Under this partnership, Al Maryah Community Bank becomes the inaugural entity, both locally and globally, to secure the rights to name a fuel station.
- Through Mbank Wallet application, customers can execute transactions by scanning the QR code at the checkout counters using their mobile phones.
Arts & Culture
‘Cultural initiatives key to nation’s advancement’
"Poetry holds a distinguished position among literary arts, especially within the Arabic language. As the foundational literary form in Arabic,...
- UAE’s Minister of Culture highlights the significance of cultural endeavors and poetry in social and individual advancement.
- World Poetry Day celebration emphasizes the foundational role of poetry in Arabic heritage and language, adds Sheikh Salem.
Business
Tabreed approves record dividend
The cash dividend of 15.5 fils per share was okayed at Tabreed's AGA.
- As disclosed in the company’s recent full-year results for 2023, this represents an increase of 15 percent over the previous year.
- Tabreed’s AGA also confirmed the appointment of two new board members: Geert Bunkens and Marion Deridder Blondel.
Business
Real estate deals worth $23bn recorded in Abu Dhabi in 2023: ADREC
Abu Dhabi, UAE -- Real estate deals worth AED 87.1 billion ($23.71 billion) were recorded in Abu Dhabi during 2023,...
- The value of buying and selling activities surged by 159.5 percent compared to 2022, reaching AED61 billion.
- ADREC reported this increase based on 15,653 transactions, representing a 73.7 percent rise from 2022.
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
Iran president says ‘rioters’ must not disrupt society
Pezeshkian accused the United States and Israel of "trying to escalate this unrest with regard to the economic discussion and...
Geostrategy
Company News
Latest News
Egypt to access $1.2 billion in funding after deal with IMF
Washington, United States -- The International Monetary Fund said Tuesday that it has reached a deal with Egyptian authorities allowing the...
Economy
Mubadala acquires stakes from GHH
It acquired an 80 percent stake in Global Medical Supply Chain.
Business
Most Read
Honda and Nissan expected to begin merger talks
Honda and Nissan were poised Monday to announce the start of talks on a merger to help the Japanese giants...
- Their collaboration would create the world's third-largest automaker
- Honda and Nissan's partnership could include a manufacturing tie-up
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