It expects operating profits to jump to US$4.89bn.

In December, the airline ordered 230 Airbus planes.

The World Bank said in its interim damage assessment, this is equivalent to 97 percent of the combined economic output of the West Bank and Gaza in 2022. The report, produced with the United Nations and the European Union, found structural damage affected "every sector of the economy."

Abu Dhabi, UAE--The Arab Bank for Economic Development in Africa (BADEA) expects the bank's annual financing to reach US$2.5 billion by the end of 2024. According to its director general, Dr. Sidi Ould Tah, the annual financing of the bank is witnessing a steady increase, rising from US$2 billion in...

Dubai, UAE-- Outbound travel from China is estimated to almost double this year, compared with 2023 and will only be 22% below its peak pre-pandemic numbers of 155 million tourists in 2019, who spent over $250 billion overseas, according to Oxford Economics Full recovery is expected to materialise in 2025,...

Its net profit spiked to US$3.7 billion in 2023.

The oil ministry and Iranian businesses signed deals worth $13 billion to increase daily oil production in six major fields. The deals have been labelled as Iran's "biggest oil contracts in the past decade" that are aimed to add 350,000 barrels per day to the Islamic republic's daily production.

British telecoms giant sold the business for US$8.7 billion.

It delivered some 9.2 million cars to customers in 2023.

Abu Dhabi, UAE--The UAE construction market size was $94 billion in 2023 and the market will achieve an AAGR of more than 3% during 2025-2028, according to a report released by GlobalData, a data analytics and consulting company, headquartered in London. The growth is attributed to the increase in investments...

Abu Dhabi, UAE--The MENA region's commercial aircraft services market will more than double in value by 2042, according to Airbus’ latest Global Services Forecast (GSF). Growing to US$28 billion from US$12 billion, and registering a 4.4 percent average annual growth, the regional expansion will surpass the global average growth of...

The market value of its net assets crossed US$5.66bn.

The new projects are estimated to value US$26.14 billion.

The US aluminum producer will buy Alumina for US$2.2bn.

Riyadh, Saudi Arabia--Saudi Arabia's Energy Minister Prince Abdulaziz bin Salman bin Abdulaziz revealed on Sunday that an additional 15 trillion standard cubic feet of gas have been proven at Saudi state oil company Aramco's Jafurah field, in addition to 2 billion barrels of condensates. Reserves at Jafurah had reached 229...

The company's revenue spiked to US$22.1bn.

Dubai, UAE-- In the month of May scores of airport developers, officials, and suppliers from around the world will troop into Dubai to participate in the world’s largest annual event dedicated to the airport industry. The 23rd edition of the three-day B2B event at the Dubai World Trade Centre (DWTC),...

It plans to hike investments in the country to US$5 billion.

Its sales jumped 6% to US$27.2bn in half-year results.

Shenzen, China--The total number of high-tech enterprises in south China's Guangdong Province has exceeded 75,000, local authorities have said. By the end of 2023, the province's estimated annual research and development (R&D) expenditure topped 460 billion yuan (about 64.8 billion U.S. dollars), boasting 1.35 million R&D personnel and more than...

With this deal, the value of the firm has tripled in 10 months.

Its revenue jumped 41% to US$748 million in 2023.

The company's revenue for the year 2023 was US$3.05bn.

It posted an 8% jump in net profit to US$337m for last year.

Form Saudi Arabia to the UAE, Qatar to Kuwait, governments of the region compete to jumpstart an industrial sector. But doubts remain whether it can be pulled off.

Its sales in China slumped 35% from April to December.

Abu Dhabi, UAE--The total public expenditure of Arab countries combined jumped by 9.8% to $957.5 billion in 2022, compared to $878.9 billion in 2021, according to the Arab Monetary Fund (AMF). AMF, in its Joint Arab Economic Report, explained that current expenditure in Arab countries increased by about 9.9% to...

The luxury giant posted a profit of US$4.6bn in 2023.

The company's profit surged to US$6.8bn last year.

The parliament ratified by a huge majority of 92 votes out of 133 an amendment to an article that prohibited the central bank from financing the public treasury. The new measure allows the central bank to lend the state US$2.2 billion to be repaid without interest in 10 years after...

The company's revenue for the year 2023 stood at US$16.33bn.

For EU leaders, it is their way or the highway as the wealthy, powerful bloc seeks to tame opposition and browbeat defiant countries and individuals into submission.

The company profit vaulted to US$36bn during the year 2023.

But its sales in China dropped during October to December.

It made record profit on the back of higher interest rates.

Its operating profit for Q4 was US$2.1bn.

Abu Dhabi, UAE-- The UAE and Malaysia have signed a memorandum of understanding (MoU) to boost investment cooperation in the digital-infrastructure sector with an emphasis on data centres in Malaysia. The MoU centres on establishing robust and efficient collaboration through the development of bilateral relationships between public and private organisations....

Hong Kong--Non-oil foreign trade value between the UAE and Hong Kong expanded in the past year, reaching $16.2 billion in the first 11 months of 2023. According to Dr. Patrick Lau, Deputy Executive Director of the Hong Kong Trade Development Council (HKTDC), the United Arab Emirates has solidified its position...

Dubai, UAE--DMCC has kicked off the ninth edition of its global trade roadshow, Made For Trade Live, in London, seeking to attract a greater amount of foreign direct investment (FDI) from the United Kingdom. DMCC is the world’s flagship free zone and Government of Dubai Authority on commodities trade and...

It has shrugged off geopolitical tensions to post high profits.

Kwon, who co-founded Terraform in 2018, was arrested last year in Montenegro and is awaiting extradition to the United States or South Korea. The collapse of the Singapore-based firm's TerraUSD and Luna wiped out around $40bn in investments and caused wider losses in the global crypto market estimated at more...

The Saudi giant will develop the US$6.4bn plant in Fujian.

It pulled out of the US$10bn merger of its Indian operations.

Muscat, Oman--The Oman Investment Authority (OIA) has unveiled a new fund called “Future Fund Oman” valued at US$5.19 billion. The fund will serve a wide range of investment categories, develop the national economy and attract foreign investments. According to the Oman News Agency (ONA), According to the Oman News Agency...

It posted a 7.5% jump in net profit to US$1.18bn last year.

Abu Dhabi, UAE--The Central Bank of the United Arab Emirates (CBUAE) saw its balance sheet soar to $182.43 billion at the end of November 2023, marking a significant surge in its financial strength. This impressive growth is revealed in the bank's latest balance sheet report. The report highlights a robust...

The agreements worth US$3bn were signed with Gujarat.

The developer will expand business in Dubai, Abu Dhabi.

The tech giant forecasts profit to fall to US$2.1bn for Q4.

It is part of the company's planned US$2bn investment.