The retailer said the profit soared due to growth in sales.

The fund, to be managed by a subsidiary of G42, will invest in late-stage growth companies with disruptive technologies and strong business fundamentals in an effort to accelerate global innovation.

TikTok will use automated systems and human fact-checkers to assess the accuracy of content, prompting users to "reconsider" sharing posts with unsubstantiated information, Han said.

The gold and jewelry sector in Saudi Arabia has recorded a 36 percent growth in sales as the economy shows signs of recovery

Dubai International Airport, a major aviation hub, is gearing up to help ease transit travel for World Cup supporters ahead of the tournament starting in November, its director said Wednesday. The first World Cup ever held in a Middle Eastern country is set to kick off in Qatar on November...

The Ministry of Human Resources and Emiratisation said in its private sector workforce report that the construction sector accounted for the largest chunk of new work permits issued during Q2, followed by the business services sector and the trade and repair services sector.

Travel recovery witnessed in the UAE and Saudi Arabia has been very strong, according to a survey of nearly 2,000 travel enthusiasts conducted by Collinson.

Russia's war in Ukraine has caused turmoil in European energy markets, especially in Germany, which is heavily dependent on Russian gas.

The Fund purchased 1.8 million shares of Microsoft, 4.7 million class A shares of Zoom, and 213,000 class A shares of Alphabet.

Bassam al-Sheikh Hussein held bank staff hostage in Beirut last week to demand access to his trapped savings. After a long stand off Hussein turned himself in after the bank agreed to let him draw out $30,000 of his more than $200,000 in trapped savings.

ACWA Power Company will join hands with Uzbekistan in order to enter into  a $2.4 billion deal for a 1,500-megawatt wind project, a bourse filing disclosed.

The world's richest man has a habit of posting provocative statements on Twitter for fun and Musk was at it again when he told his more than 103 million followers: "Also, I'm buying Manchester United ur welcome." The billionaire Tesla and SpaceX CEO made the comment in reply to another...

Extreme weather has become more frequent owing to climate change, scientists say, and this will likely grow more intense as temperatures rise, impacting economies and societies around the world. Multiple major cities in China have recorded their hottest days ever this year, and the country's national observatory issued a red...

The healthcare company saw its profit vault to $40m in H1.

The partnership aims to achieve the highest levels of service excellence at all terminals and facilities of Abu Dhabi Airports.

The Saudi firm posted a 73% fall in profit to $14m in H1.

In October, the cost of hearing aids will be down by an estimated $2,800 per pair as there would be no requirement to see a doctor or audiologist.

The UAE is strengthening its food security system through policies that include promoting cooperation with other countries and markets, diversifying sources, and attracting local and foreign agricultural investment.

Kuwait's National Fund for SME Development (SME Fund) has helped resolve the problems of 132 small and medium-sized enterprises (SMEs) during Covid emergency, said its Director-General Adel Al-Hasawi Under instructions of the cabinet, the Fund is working on applications from 72 SMEs for benefiting from the act on stumbling projects....

According to Abu Dhabi and Dubai financial markets, non-Arab foreign investors purchased local stocks worth AED70.27bn from the beginning of the year to the end of last week, compared to sales of some AED54.73bn during the same period.

The retail giant sales surged, partly due to inflation.

Spanish Prime Minister Pedro Sanchez said Tuesday he hopes a gas pipeline linking the Iberian Peninsula to central Europe through France could soon become a reality. Europe is currently undergoing an energy crisis as it struggles to rapidly reduce its dependence on Russian gas following the invasion of Ukraine.

Dubai’s Department of Planning and Development, Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation, has completed about 16,000 transactions through its Licensing Department during the first half of 2022, registering a growth of 22 percent compared to the same period last year. The Licensing Department provides...

Iraq plans to establish free-trade zones adjacent to Baghdad and Najaf airports and another one near the Iraqi-Jordanian border, which is part of a joint economic city and one of the most important future projects. The country is also working to open free-trade zones near the Iraq-Saudi Arabia border.

The UN brokered agreement lifted a Russian blockade of Ukraine's ports and established safe corridors through the naval mines laid by Kyiv.

This amounts to an increase of 29% over last year.

The gains were due to high demand for coal and copper.

The new ACH160 is one of the world’s most technologically advanced helicopters with a new rotor blade design that results in significantly reduced noise, according to a statement posted on LinkedIn.The company will obtain six new ACH160 helicopters, with the first being set to join the fleet early in 2023.

The Global Business Travel Association now projects business travel will regain its 2019 level of $1.43 trillion in mid-2026, 18 months later than predicted in the group's last forecast in November. "Recovery has hit some headwinds," GBTA said in a statement that outlined a gradual improvement from a 2020 low...

The Group is planning a new acquisition in Egypt.

Governor of the Central Bank of Jordan (CBJ) Adel Sharkas said that terror financing is a threat to national economies, adding the Kingdom is committed to combating the menace.

The airline will buy 10 planes and lease the 10 others from Avolon.

The Museum of the Future has signed a strategic partnership agreement with Dubai Electricity and Water Authority (DEWA) to showcase unique technologies and solutions related to the future of environmental sustainability and renewable energy.

The Central Bank of Bahrain (CBB) said Monday the monthly issue of the Sukuk Al-Salam has been oversubscribed by 152 percent. Subscriptions worth BD 65.445 million ($173.5) were received for the BD 43 million issue, which carries a maturity of 91 days. This is issue number 256 of the short-term...

Dubai Financial Market (DFM) said Monday that it has obtained the approval of the Securities and Commodities Authority (SCA) to allow the Dubai Gold and Commodities Exchange (DGCX) licensed brokerage firms to become DFM derivatives members and to provide their services in the market for the first time. Currently, there...

Oil prices slipped in Asian trade, with both main contracts down around two percent as the stuttering Chinese economic recovery added to concerns about demand.

The 89.49% stake in Giza Systems will cost it $158m.

The study highlighted how the government sector in the kingdom has almost completely converted to electronic payment methods for all outward payments to individuals, business establishments or other government agencies.

Real GDP increased at a growth rate of 11.8% in Q2 2022, driven by the significant increase in oil activities by 23.1% while the non-oil activities increased by 5.4%

The profit fell to $5m in HI due to rising cost of raw materials.

The company completed its earlier investment program during the period between the second quarter of 2020 and Q2 2022.

The first phase of the project includes organizing field visits and inspection campaigns, as well as electronic or digital follow-up of holiday homes, their operators, and owners.

Russia has come under increasingly tough sanctions since its February invasion of Ukraine, while Iran has faced stringent sanctions reimposed in 2018 when the United States unilaterally pulled out of a nuclear deal between Tehran and world powers.

Improvement in underwriting and investment push profits up.

Dubai’s Roads and Transport Authority (RTA) announced that the number of riders using public transport and shared mobility clocked nearly 304.6 million during the first half of 2022.

The Saudi Central Bank (SAMA) said a study revealed that electronic payments increased from 44 percent in 2019 to 62 percent of all payments by volume in 2021.

The year-on-year growth in net profit was 59 percent.

The jump in profit was driven by growth in sales of dairy.

Net income leapt 90% for the world's biggest oil producer, which clocked its second straight quarterly record after announcing $39.5bn for Q1.

H1 2022 EBITDA up 66 percent $1.6 billion.