Its profit vaulted to US$150 million in Q1 of 2023

Elon Musk has chosen top ad executive Linda Yaccarino to take the day-to-day reins of Twitter as he fights to reverse the tide at the struggling platform he bought for US$44 billion last year. Yaccarino is a highly respected advertising executive who stepped down from NBCUniversal "effectively immediately" on Friday.

DUBAI, UAE - Dubai Chambers has hosted a workshop for commercial attachés of EU Diplomatic Missions to provide them with an overview and key highlights of the UAE's Corporate Tax Law. The workshop, organized  in collaboration with Al Tamimi & Company Law Firm, brought together 13 officials representing the commercial...

Salik recorded the highest level of quarterly revenue-generating trips.

Tabreed's total connected capacity rose to 1.276 million RT.

Operating profit dropped 30.4% to 110.55 billion yen.

The firm recorded a net profit of $873 million.

If Musk follows through on the announcement, he will be belatedly fulfilling the promise he made to honor the results of his Twitter poll. A total of 57.5 percent of more than 17 million accounts voted for him to step down.

On Thursday the Kurdish authorities said in a statement that "the Kurdistan regional government and the federal authorities have reached a (final) deal on the resumption of oil exports". Hours later, Iraqi Oil Minister Hayan Abdel Ghani said crude exports would resume from Saturday.

ABU DHABI, UAE - Masdar has signed an agreement with the International Renewable Energy Agency (IRENA) to cooperate on a major international knowledge project setting out the means to triple global renewable energy capacity by 2030. During the UAE Climate Tech Forum in Abu Dhabi, Mohamed Jameel Al Ramahi, CEO...

ABU DHABI, UAE - ADNOC Logistics & Services (ADNOC L&S) announced on Thursday it has signed an agreement with SeaOwl for the design of unmanned Remotely Operated Vessels (ROV). The ROVs are capable of transporting vehicles, equipment and supplies to and from offshore sites, reports say. The innovative design of...

The Bank of England lifted its key interest rate to the highest level since the 2008 financial crisis, noting inflation remained stubbornly high but that the economy would now avoid recession this year. The BoE hiked the rate by a quarter-point to 4.5 percent with UK annual inflation stuck above...

The net profit increased by 17 percent in Q1 compared to Q1 2022,

Aramex said revenue was impacted by currency fluctuations, etc.

Dhahran, Saudi Arabia -- The Saudi Arabian Oil Company (Saudi Aramco) denied reports that its plans for blue hydrogen were temporarily suspended.The company confirmed in a statement today that its goal to produce up to 11 million tons of blue ammonia, a carrier of blue hydrogen, by 2030, remains unchanged,...

Foxconn blamed the plunge on weakened demand.

As per pact, e& is a cornerstone shareholder of Vodafone.

The group declared a dividend of $1.2 billion to its owner.

The company sold 3.16 million vehicles for the year to march 2023.

This is the company's highest-ever quarterly revenue.

The bank took hits across a range of start-up investments.

Cairo, Egypt--Egypt's annual urban consumer inflation in April dipped to 30.6% from 32.7% in March, data from the state statistics agency CAPMAS showed on Wednesday Month-on-month, urban inflation slowed to 1.7% from 2.7% in March and 6.5% in February. Inflation had steadily crept up over the last year after a...

Keeping the Swiss banking division as an independent unit appeals to many in Switzerland -- particularly as it could prevent mass layoffs in the important banking sector. Together, the two banks employ 120,000 people worldwide, including 37,000 in Switzerland.

Abu Dhabi, UAE-- The UAE's gross domestic product (GDP) is estimated to have grown 7.6 percent in 2022, shored up by economic activity across all sectors. The conclusion was made in an annual report released by the Central Bank of the United Arab Emirates (CBUAE), which said that the UAE's...

Its net profit fell 7 percent to US$50 million in Q1 of 2023.

Analysts had foreseen an increase in subscribers for the period, but a hike in prices sent customers turning away from the platform that streams Marvel, Star Wars and Disney content across the globe. The contraction of the Disney Plus subscriber portfolio was mainly due to an 8 percent drop in...

Its transformative power to reshape life has left people awestruck across the world, but the technology that powers ChatGPT might put at risk about 10 million jobs in the GCC.

The company posted a net profit of $104 million for the quarter.

The company attributed the loss to 'unfavorable market conditions'.

Abu Dhabi, UAE - ADNOC and Baker Hughes announced Wednesday a deal to accelerate the development and commercialization of technology solutions for green and low-carbon hydrogen, as well as graphene. The agreement will see ADNOC collaborate with Baker Hughes as a strategic partner to study and pilot, the deployment of...

Dubai, UAE -- The UAE had become a center for foreign investments, leading Arab, regional and global rankings in attracting investments, said Dr. Khaled Hanafi, Secretary-General of the Union of Arab Chambers on the on the sidelines of the Annual Investment Meeting (AIM) 2023. Hanafi stressed that business owners in...

Dubai, UAE - A delegation of Palestinian business executives including 21 start-up representatives visited Dubai Chamber of Digital Economy. It is the first-ever business meeting between Dubai and Palestine, with the delegation involved in 237 meetings, one of the highest ever. Participants at the event included Hashim Shawa, Chairman of...

Abu Dhabi, UAE -- The UAE Ministry of Finance has issued a decision on conditions under which a "person may continue or cease to be deemed an exempt person,”. An official statement said the decision clarifies rules to ensure that businesses remain eligible for a corporate tax exemption if they...

Revenues for the first quarter increased by 5 percent over Q1 2022.

The firm's net profit soared to US$27.14mn in Q1 of 2023.

Abu Dhabi, UAE -- ADNOC has announced its intention to float a 15 percent minority stake in ADNOC Logistics & Services  on the Abu Dhabi Securities Exchange (ADX). The offering is expected to open on May 16, 2023, subject to regulatory approvals and other relevant considerations. ADNOC L&S is a...

Riyadh, Saudi Arabia--Saudi Arabia and South Korea have signed two agreements on Tuesday for future mobility and roads in the latest move to boost cooperation between the two countries. The memorandums of understanding call for cooperation in the future of mobility and innovation in the transport and logistic services sectors...

Since buying Twitter for $44 billion late last year, Musk has made changes in seemingly impulsive ways, sometimes causing chaos for users. The Twitter boss has talked publicly of building an all-purpose "X" application that combines messages, payments and more.

Muscat, Oman--The Central Bank of Oman (CBO) has raised $36.35 million by way of allotting treasury bills on Tuesday, the bank said in a statement. The statement said the value of the allotted treasury bills amounted to $26 million, for a maturity period of 28 days. The average accepted price...

Seeking to widen its foreign trade and grow national economy, the UAE has signed Comprehensive Economic Partnership Agreement (CEPA) negotiations with Thailand. The UAE has already signed several such agreements with many countries, and signing the deal with Thailand is part of that endeavor. The first round of talks will...

The company posted Q1 revenue of US$299 million.

The company also posted its highest-ever quarterly profit.

The $40bn order is the largest ever by an Irish firm for US goods.

French retailer is first foreign supermarket chain in Israel.

Riyadh, Saudi Arabia - A delegation of Saudi Arabia discussed steps to enhance cooperation in maritime transport and ports with South Korea, local media reports said. Led by Saleh Al-Jasser, Saudi Minister of Transport and Logistic Services, the delegation visited South Korea and met Cho Seung-hwan, Minister of Oceans and...

MADRID, SPAIN -  The World Tourism Barometer published its second report of the year, which showed that international tourism is making a strong comeback to pre-pandemic levels. During the first quarter of 2023, twice as many people traveled internationally than in the same period of 2022, with a total of...

The deal would mean Messi potentially joins his arch-rival Cristiano Ronaldo in the Saudi league. There was no confirmation from Messi's current club Paris Saint-Germain, who noted simply that he was under contract until June 30 when contacted by AFP.

The company posted Q1 revenue of US$694 million.

According to Statista's Global Consumer Survey, countries in Africa, Asia, and South America have higher crypto adoption rates than Western countries. Indonesia with 29 percent, and Brazil with 28 percent are other top crypto users. The rate of crypto adoption in the United States is 16 percent.

Koerner will be the only executive from Credit Suisse to remain on board after the bank is absorbed by UBS. The Swiss government strongarmed UBS into buying its rival for $3.25 billion after the collapse of three US lenders in March raised concerns about Credit Suisse's own financial health following...