business

UAE’s Alpha Dhabi Holding reports $1.82 billion net profit, $7.97 billion revenue in H1 2024

Net profit from operations also surged to $1.38 billion, marking a 92 percent year-on-year increase

Sharjah’s real estate market soars to $4.95 billion with 10,809 transactions in H1 2024

Seven new real estate projects launched in the emirate, including residential complexes and towers.

GCC, Indonesia initiate talks for comprehensive deal to boost trade and investment

The proposed agreement aims to enhance cooperation, streamline investment regulations, and create new jobs

Dubai Financial Market sees spike in new investor accounts, up 85 percent to 56,345

The growth is due to strong investor interest in recent high-profile listings like Parkin and Spinneys

Qatar reports $711.58 million budget surplus on $16.39 billion total revenues for Q2 2024

The surplus was directed towards reducing public debt, and therefore there is no cash surplus

G20 pushes for great fortunes tax to fund climate disaster preparedness 

The G20 DRRWG meeting focused on the critical importance of financing for resilient infrastructure and early disaster risk warnings

Kelly Ortberg assumes leadership of Boeing – Who is he and what can we expect?

Ortberg, an experienced veteran of the aerospace industry, has been tasked with turning the struggling planemaker around

Dubai’s taxi sector hits 55.7 million journeys, serving 96.9 million passengers in H1 2024

E-bookings accounted for 40 percent of the total number of taxi journeys in Dubai during the first half of this year

Oil price rallies amid Middle East tensions and OPEC+ meeting, China concerns linger

Brent oil futures expiring in October rose 0.5 percent to $81.24 a barrel

Saudi Arabia’s foreign assets rise 5.5 percent to $467.5 billion in June 2024

Data showed that the bank's net foreign assets in June were around SAR1.670 trillion

Abu Dhabi’s Borouge reports $308 million Q2 net profit, 33 percent YoY increase

Higher sales and cost efficiencies drove the company's highest-ever production volumes

UAE-Chile CEPA set to take effect in six months, promises $73 million national economic boost by 2031: Al Zeyoudi

The agreement aims to liberate trade between both countries, empower women in commerce

DIFC sees rapid expansion, adds 820 companies in H1 2024, AUM reaches $700 billion

Over 370 wealth and asset management firms, including more than 50 pure-play hedge funds, are now based in the Centre

Oman to expand LNG production capacity to 15.2 million tons per year with new 3.8 million ton train

LNG production trains allow the government to improve operational efficiency, maximize the use of existing facilities

Dubai Financial Market announces 74 percent rise in pre-tax net profit to $53.19 million in H1 2024

The first half of 2024 saw a surge in trading activity, higher trade values, and an influx of new investor

Oil prices slide to two-month low ahead of OPEC meeting, Fed policy decisions

Brent oil futures expiring in September fell 0.2 percent to $79.63 per barrel

UAE, Chile sign CEPA to boost non-oil trade through tariff cuts and eased barriers

The CEPA also seeks to establish new investment and cooperation pathways, allowing private sectors to build partnerships

UAE and Morocco finalize CEPA to boost goods and services trade through tariff cuts, regulatory reforms

In 2023, the two nations had $1.3 billion in non-oil trade, a 30 percent increase from 2022 and 83 percent more than in 2019

Residents of this Dubai community to receive sub-30 minute robotic deliveries

They will navigate sidewalks safely and independently, finding charging stations as needed, eliminating human intervention

Five Saudi cities shine on IMD Smart City Index 2024: Report

Smart cities in the Kingdom have relied on AI and IoT technologies to enhance quality of life

UAE wins bid to host COSPAR 2028, world’s largest space research event

The country has become a leading hub for global scientific research, especially in space exploration