Turkey’s Pegasus Airlines says to buy 200 Boeing 737 aircraft
Istanbul, Turkey -- Turkey's Pegasus Airlines said Thursday it would buy 200 Boeing 737 MAX 10 aircraft in its largest-ever order...
Business
World’s rarest coffees to be auctioned for first time in Dubai
Dubai, UAE -- Coffee aficionados and industry leaders will converge in Dubai this February at World of Coffee (WOC) Dubai...
Business
Geostrategy
UAE minister calls for using digital tech in building peace
New York, USA - Omar Sultan AlOlama, UAE's Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications,...
- The UAE minister said it is important to address hate speech, racism, intolerance and other forms of extremism.
- He said issues like climate change, extremism, health emergencies could be solved by boosting peacebuilding architecture.
Business
Ajman witnesses 13 percent first quarter growth in new licenses
Ajman, UAE -- The emirate of Ajman has issued a total of 1,483 business licenses during the first quarter of...
- Import and export, retail perfumes, general trade, and wholesale trade of women's ready-made clothing are among the newest commercial licenses issued in Ajman during this period.
- Renewal of licenses grew by 3 percent and process of issuing permits by 9 percent year on year.
Business
$14m plot of land among $2.83bn weekly realty deals in Dubai
Dubai, UAE -- A total of 3,050 real estate transactions worth AED10.4 billion ($2.83 billion) were recorded in Dubai during...
- The DLD report showed that 189 plots were sold for AED1.19 billion, 2,239 apartments and villas were sold for AED5.11 billion.
- Al Hebiah Fifth recorded the most transactions for this week by 63 sales transactions worth AED188.2 million.
Geostrategy
Iran expels four Azerbaijan diplomats in tit-for-tat move
Tehran, Iran -- Iran has expelled four Azerbaijani diplomats, state media reported Friday, saying the move was "in response" to...
- Azerbaijan's foreign ministry last month said it had notified the Iranian ambassador that "four employees of the Iranian embassy were declared personae non gratae" with 48 hours.
- Baku accused the embassy staff of carrying out activities "incompatible with diplomatic status" but did not elaborate.
Business
Empower Q1 revenue up 6%
The company posted a 5.7 percent year-on-year growth in net profit.
- For the last twelve months (Apr 2022 to Mar 2023), the company's consolidated revenue was AED 2.82 billion, compared to AED 2.53 billion (Apr 21 to Mar 22).
- The company attributed the first quarter growth to a rise in demand for its services across various regions of Dubai.
Business
ADX New York roadshow attracts major institutional investors
Dubai, UAE – A roadshow led by the Abu Dhabi Securities Exchange (ADX) in collaboration with JP Morgan in New...
- The two-day show attracted major institutional investors in the US and welcomed senior representatives from the Exchange and JP Morgan.
- The event attracted more than 60 CEOs, CFOs, in addition to senior management from institutional investors from across the US.
Geostrategy
Artificial Intelligence dangers: White House summons tech giants
Vice President Kamala Harris and other administration officials will discuss ways to ensure consumers benefit from AI while being protected...
- The lack of rules has given Silicon Valley freedom to put out new products rapidly -- and stoked fears that AI technologies will wreak havoc before the government can catch up.
- A range of experts in March urged a pause in the development of powerful AI systems to allow time to make sure they are safe.
Business
UAE and Lithuania Chambers agree to set up Business Council
Sharjah, UAE -- The UAE Federation of Chambers of Commerce and Industry (FCCI) and its Lithuanian counterpart have signed an...
- The two sides also agreed to strengthen economic relations and increase investment flow between the two countries.
- The newly formed council will strengthen mutual trade relations by organizing visits and offering support to Emirati and Lithuanian companies.
Business
Major energy companies in West earn $40 billion in Q1 net profits
The surging profits prompted outcry from critics as Britons face a cost-of-living crisis, which has topped the agenda for Thursday's...
- France's TotalEnergies saw net profit advance 12 percent to $5.6 billion in the first quarter. ExxonMobil posted a record Q1 profit $11.4bn, while Chevron earned $6.6bn.
- Falling costs and a better performance at its chemicals division saw Shell's profit surge 22 percent to $8.7bn from a year earlier.
Business
SABIC Q1 profit down 90%
The company expects Q2 margins to remain under pressure.
- The company said in a statement that its revenue for the first quarter reached SAR 39.69 billion ($10.58 billion), a decrease of 8 percent compared to the previous quarter.
- The Shareek program will play a key role in the company's next growth phase, said CEO Abdulrahman Al-Fageeh.
Turkey’s Pegasus Airlines says to buy 200 Boeing 737 aircraft
Istanbul, Turkey -- Turkey's Pegasus Airlines said Thursday it would buy 200 Boeing 737 MAX 10 aircraft in its largest-ever order...
Business
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Flying’s never been safer, risk of death halving every decade: MIT study
Washington, United States -- Flying can be a nerve-wracking experience for many people -- but a new study out Thursday finds...
Geostrategy
Gaza civil defence says Israel strikes on two schools kill more than 18
Senior civil defense official Mohammad al-Mughayyir said 60 people were also wounded and more than 40 still missing in the...
Geostrategy
Oil and gas sector in Arab countries attracts projects worth $406bn
Kuwait: -- The oil and gas sector in Arab countries attracted 610 projects implemented by 356 foreign and Arab companies,...
Business
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Geostrategy
Bangaldesh Nobel winner Yunus ready to lead after Hasina flees
Dhaka, Bangladesh -- Bangladesh Nobel winner Muhammad Yunus said Tuesday he is ready to head a caretaker government, a day after...
- Microfinance pioneer Yunus, 84, is credited with lifting millions out of poverty -- earning the enmity of ousted Hasina and the wide respect of millions of Bangladeshis.
- Army chief General Waker-Uz-Zaman announced Monday the military would form an interim government, saying it was "time to stop the violence".
Business
Abu Dhabi to host Loop CEE travel fair for first time in Middle East
Abu Dhabi, UAE -- The Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Miral will host...
- The luxury travel fair is being organized by the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) and Miral.
- Over the course of five days, each exhibitor will have the opportunity to conduct 62 appointments, each lasting for 15 minutes.
Geostrategy
G7 foreign ministers met by videoconference over Mideast: Italy
Rome, Italy -- G7 foreign ministers met by videoconference Sunday to discuss the Middle East and expressed "strong concern" over the...
- "Together with our partners, we have expressed strong concern about recent events that threaten to determine a regionalization of the crisis," Italian foreign minister said.
- The foreign ministers, it said, "reiterated the priority of a favorable conclusion of the negotiations on the ceasefire in Gaza and the release of hostages".