Doha, Qatar— More than ten million passengers traveled through Qatar’s Hamad International Airport in the first quarter of the current year, marking a 44.5 percent jump. The airport, according to Qatar News Agency, received 3.56 million passengers in the month of January, followed by 3.24 million in February, and 3.5...

Microsoft-owned LinkedIn was one of the few US technology companies to successfully operate a social media site in China, where the internet is heavily regulated and censored. The US firm once achieved a rapid rise in the country, benefiting from a culture of connections, or "guanxi", in which one's contacts...

Since Musk bought Twitter, the company has relaxed the moderation of content on the network, letting back many users banned because of messages inciting hatred or spreading misinformation. Market trackers say Twitter revenues have fallen as advertisers avoid the platform.

Doha, Qatar-- Uzbekistan has called for establishing a joint forum for businessmen in Doha or Tashkent to review investment opportunities in both the countries. The appeal was made by the visiting Minister of Investment, Industry, and Trade, Laziz Kudratov. During his meeting with Qatar Chamber Chairman, Sheikh Khalifa bin Jassim...

The Saudi company posts net profit of $31.9bn, down 19.25 percent from a year earlier.

Goertzel was in provocateur mode last week at Web Summit in Rio de Janeiro, the world's biggest annual technology conference, where he told in an interview that AGI is just years away and spoke out against recent efforts to curb artificial intelligence research.

Abu Dhabi, UAE-- Designed to achieve a common Arab vision for the digital economy, the Arab Federation for Digital Economy and the Union of Arab Chambers signed a cooperation agreement at the Entrepreneurs Investment Summit, held in parallel with the Annual Investment Meeting 2023 (AIM) in Abu Dhabi. The agreement...

ABU DHABI, UAE - The Statistics Center - Abu Dhabi (SCAD) has released the Gross Domestic Product (GDP) estimates report for 2022, unveiling a remarkable 9.3 percent  growth by the end of the year, compared to 2021. The new figures position the Emirate as the fastest-growing economy in the Middle...

Net income increased by 35 percent during the quarter.

Unlike other companies that use vertical-launch rockets, Virgin Galactic uses a carrier aircraft that takes off from a runway, gains high altitude, and drops a rocket-powered plane that soars into space before gliding back to Earth.

Growth in revenue driven by surge in demand for electricity, water.

The company posted its highest-ever quarterly sales.

DUBAI, UAE -  The private sector and financial institutions in the Middle East should enhance reporting by including information about how they both impact and depend upon nature and natural capital, says a report.    The report titled 'Nurturing Natural Capital: The Middle East Imperative' was released by the World Government...

Dubai, UAE -- More than 40,000 people – including 30,000 visitors – attended the 30th edition of Arabian Travel Market (ATM), which concluded last week in Dubai. This not only represents a year-on-year increase of 29 percent in attendees compared to 2022, but it also represents a 5 percent increase...

Amman, Jordan-- With an eye on boosting its exports to North America, a range of companies from Jordan will showcase their products at the 18th edition of SIAL Canada food fair, which will kick off in Toronto on Tuesday. The three-day event, which is one of the largest international food...

Riyadh, Saudi Arabia--Saudi Arabia is keen to deepen trade and economic ties with Italy from the current volume of trade estimated to be around US$8 billion. In this connection, the members of the Saudi business sector delegation, represented by the Saudi-Italian Business Council, concluded their visit to Italy, during which...

The insurance firm's net profit fell to US$12.36 million.

The railway track will connect Iran's southwestern town of Shalamcheh with Basra in Iraq in what will be the first such link between the two countries. In this regard, the two signed an MoU in Basra. It outlines the route for the railway line, location of passenger stations, a timeline...

AMMAN, JORDAN -  The ninth session of the Joint Jordanian-American Committee, which was held in the United States, discussed cooperation in trade, agriculture, food security and labor.Secretary General of the Ministry of Industry, Trade and Supply Dana Zoubi chaired Jordan's delegation and Deputy Representative of US Trade Jayme White represented...

The first quarter customer deposits increased by 17% on Q1 2022.

Muscat, Oman -- Pakistan and Oman have agreed to boost air travel between the two countries' airports, reports said. The agreement came after a series of meetings in the Pakistani capital held by officials from both nations. An Omani delegation, led by Naif Ali Al Abri, Chairman of the Civil...

Kuwait City, Kuwait -- At least 31 Kuwaitis have filed candidacy papers for Kuwait's National Assembly election set to take place on June 6.  The candidates presented their documents to the election affairs department affiliated with the Ministry of Interior on Saturday, bringing the total number of candidates to 61,...

The aluminium giant's profit fell 68% to US$126.2mn.

Tehran, Iran--Iran has reported a large increase in its purchases of domestically-grown wheat in the months of April and May. Saeid Raad, CEO of Government Trading Corporation (GTC) of Iran, said on Saturday that wheat purchases in seven provinces with warm climate in south and southeastern Iran had reached some...

Amman, Jordan-- Seeking to widen its economic and trade ties with Jordan, the Iraqi Business Council (IBC) will organize the Jordanian-Iraqi Business and Finance Forum next month in Amman, under the theme: "Building Bridges of Common Prosperity," with “wide” participation from the two countries’ investors, business owners, companies and other...

AMMAN, JORDAN  -  The Amman Chamber of Commerce (ACC)'s export of goods and commodities to Arab and other countries increased during the first three months of 2023 by 58.2 percent compared to the same period last year.According to the chamber's statistical data obtained by Petra, "ACC's exports during the January-March...

Bern, Switzerland-- Seeking to expand its industrial base, Saudi Arabia is keen to widen cooperation with Switzerland in the industrial and mining sectors, besides increasing access to non-oil exports. In this connection, the Saudi Minister of Industry and Mineral Resources, Bandar bin Ibrahim AlKhorayef, held a meeting with Switzerland's State...

The US$218mn capital infusion will foster bank's growth.

Dubai, UAE - The UAE is on track to become a global hybrid working hub, a new report by Workspace has revealed.  Workspace is one of the Middle East’s leading trade show for workplace technology and solutions.   According to the report, 98 percent of UAE businesses revealed that they would...

Sharjah, UAE-- Sharjah showcased its technology-enabled approach to the tourism industry at the Arabian Travel Market (ATM) 2023, highlighting the future of tourism in the region and beyond. Sharjah pavilion at the event demonstrated cutting-edge technologies and groundbreaking concepts, offering a compelling glimpse into the emirate's tourist destinations. Run by...

Ajman, UAE -- The emirate of Ajman has issued a total of 1,483 business licenses during the first quarter of 2023, showing a growth of 13 percent compared to Q1 2022, the Department of Economic Development in Ajman (Ajman DED) said. Import and export, retail perfumes, general trade, and wholesale...

“The United States is a long-standing trade and investment partner for the UAE – and an important ally in the battle to develop alternative sources of energy,” said Al Zeyoudi, UAE's Minister of State for Foreign Trade.

Dubai, UAE -- A total of 3,050 real estate transactions worth AED10.4 billion ($2.83 billion) were recorded in Dubai during the week ending 5th May 2023, according to figures released by the Dubai Land Department (DLD). The DLD report showed that 189 plots were sold for AED1.19 billion, 2,239 apartments...

Abu Dhabi, UAE - Emirates International Investment Company (EIIC) has acquired a 7.6 percent stake in Abu Dhabi Islamic Bank (ADIB) from Mubadala Investment Company.  The transaction brings EIIC's total shareholding in ADIB to 47 percent, demonstrating strong confidence in the prospects for the long-term growth of the UAE's second-largest...

The company posted a 5.7 percent year-on-year growth in net profit.

Dubai, UAE – A roadshow led by the Abu Dhabi Securities Exchange (ADX) in collaboration with JP Morgan in New York has highlighted investment opportunities in UAE’s capital markets following the strong performance of the exchange’s equity benchmarks last year. The two-day show attracted major institutional investors in the US...

The airline was helped by "strong" demand from holidaymakers.

Its operating profit came in at 60m euros.

The bank has urged shareholders to vote down the proposal.

Goldman has been criticized over its multiple roles with SVB, in which it was both advising the California bank and purchasing distressed debt in a deal that ultimately played a central role in SVB's collapse. SVB was seized by federal banking regulators on March 10 following a run on deposits...

Sharjah, UAE -- The UAE Federation of Chambers of Commerce and Industry (FCCI) and its Lithuanian counterpart have signed an MoU to establish the first UAE-Lithuanian Business council besides strengthening economic relations and increase investment flow between the two countries. The MoU was signed at the UAE-Lithuania Business Forum organized...

Frankfurt, Germany - The European Central Bank delivered a smaller interest rate hike Thursday as higher borrowing costs begin to take their toll, but said it had "more ground to cover" in fighting red-hot inflation. It was the seventh-straight increase in the ECB's unprecedented campaign of monetary tightening that began last...

The surging profits prompted outcry from critics as Britons face a cost-of-living crisis, which has topped the agenda for Thursday's local elections in England. They have also rekindled calls for more taxation to help offset sky-high household energy bills caused by key producer Russia's war on Ukraine.

The company expects Q2 margins to remain under pressure.

Its turnover fell by 36.6 percent to $9.9 in the Ocean division.

The firm says sales declined in Europe and China.

Muscat, Oman -- ahlibank of Oman has reported a profit of 8.4 million RO ($21.84 million) in the first quarter of 2023, an 11.1 percent increase over the same period in 2022. The customer deposits grew by 7.3 percent, reaching RO 2.33 billion during the first quarter, compared to the...

Adjusted earnings rose six percent to $10.6 billion.

Risks from AI include its potential uses for fraud, with voice clones, deep-fake videos and convincing written messages. 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.

Abu Dhabi, UAE— AD Ports Group will add drydock services to its portfolio at Khalifa Port in an expansion of its range of port and marine logistics services. With this expansion, from container and cargo handling to vessel repairs and maintenance, Khalifa Port aims to better serve existing clients and...