A Memorandum of Understanding (MoU) has been signed between Etihad Cargo and China’s SF Airlines by the cargo and logistics division of Etihad Airways. Following the signing of the MoU, both airlines will begin flying to the other’s hub using their respective fleets in April, allowing the national airline of the UAE to extend its […]
On Monday, M&T Bank Corp. surpassed Wall Street expectations for the first quarter’s earnings as a result of the U.S. Federal Reserve’s accelerated rate hikes to manage excessive inflation. Heavyweights in U.S. banking have also benefited from greater interest payments in the first quarter, avoiding a crisis brought on by the failure of two local […]
Uber-owned ride-hailing firm Careem announced a spinout on Monday with significant support from both its parent business and a new source. With a $400 million investment, the tech holding company e&, formerly Etisalat, based in Abu Dhabi, United Arab Emirates, has entered into a legally binding deal with Uber Technologies to purchase a 50.03% majority […]
The operating earnings of the Dubai Integrated Economic Zones Authority (DIEZ) increased by 42% in 2022. In comparison to 2021, its overall sales increased by 29% last year. By providing a cutting-edge multimedia ecology, a global network, and comprehensive solutions, the DIEZ seeks to reinforce Dubai’s status as a top global hub. The increased financial […]
Dubai is one of the most cosmopolitan cities in the world, with people from all over the world calling it home. If you want to taste the world, Dubai is the place to be. There are several cuisines to choose from, and you will undoubtedly be able to fulfill your favorite cravings. Whether you prefer […]
The world’s largest maker of electronics, Samsung, says it will contribute almost 300 trillion won ($230.8 billion; £189.6 billion) over a 20-year period to the South Korean government’s effort to create a major semiconductor hub there. The South Korean government announced on Wednesday that it would invest billions in a variety of industries, including biotechnology, […]
According to CBRE research, Dubai has had “record levels” of demand for residential properties, with transaction volumes reaching 8,515 in February 2023. This represented a 43.8% increase from the prior year and was the highest February figure ever. The average yearly asking rent for flats was AED99,737 and that for villas was AED295,436 as of […]
OSN, the Middle East streaming service and Warner Bros. Discovery have signed a multi-year exclusive licence agreement, making OSN the exclusive platform for streaming all HBO content throughout the Middle East and North Africa. The multi-year licencing agreement strengthens OSN’s market-leading position by extending its rights to broadcast and stream programming from HBO exclusively on […]
For offering complete international logistics services throughout the central Asian nation, AD Ports Group and SEG ENERA Group of Uzbekistan have formed a joint venture. The new business, which will be known by the brand name ADL-Ulanish, will provide a range of cutting-edge services, such as freight forwarding, air and land logistics, warehousing and storage, […]
The private sector will receive investments totaling SR192.4 billion ($51 billion) through Saudi Arabia’s Shareek programme. The investments, which were unveiled in the presence of Crown Prince, Prime Minister, and Chairman of the Big Businesses Investment Committee Mohammed bin Salman bin Abdulaziz, are the first stage of Shareek’s anticipated SR5tn ($1.3tn) initiative. The Shareek programme […]
Edge, an AE defense and technology business, wrapped up fruitful participation at IDEX 2023 by signing new contracts totalling $5 billion (AED18.6 billion). During IDEX 2023, Edge unveiled 14 new products, 11 of which were ground-breaking autonomous and unmanned technologies and solutions. AED4 billion of the AED18.6 billion in contracts were for overseas exports, and […]
The Wall Street Journal reported on Sunday, citing people familiar with the situation, that Pfizer Inc. is in preliminary discussions to acquire cancer drugmaker Seagen Inc. in what could be a multi-billion-dollar deal. The people stated there is no assurance that a deal will be reached because the negotiations are in their early stages. There […]
