Browsing: Business

Drydocks World, in partnership with GE Vernova and 50Hertz, will deliver Germany’s Ostwind 4 project, connecting Baltic Sea wind farms to the grid with 2GW of renewable energy.

Global trade will hit $33 trillion in 2024, driven by services sector growth, while goods trade lags behind, UNCTAD reports. Opportunities exist for diversification despite challenges.

U.S. Treasury yields dropped as markets await key inflation data from the Fed. PCE inflation is expected to guide future monetary policy and determine December rate cuts.

Boeing announces layoffs for 438 employees amid financial challenges, citing overstaffing. The move is part of a broader 10% workforce reduction plan impacting 17,000 positions.

Korean domestic firms see first sales decline in four years, impacted by weak consumer spending and sluggish investment, raising concerns about the country’s economic recovery.

ADNOC L&S posts AED643 million Q3 profit, rising 18% YoY as it expands logistics and shipping operations, fueling overall nine-month revenue growth by 38% in a solid 2024 performance.

Burjeel Holdings reported Q3 2024 revenue growth of 14%, reaching AED 1.3 billion due to increased patient volume and strategic expansions, aligning with UAE healthcare goals.

The Central Bank of the UAE reported a 0.6% increase in M1 money supply, reaching AED889.3 billion by July’s end, along with gains in M2 and M3, reflecting steady growth in the financial sector.

Eurozone’s inflation at 2% raises caution around ECB rate cuts, ING’s Pesole notes EUR looks expensive as markets weigh wide rate gap between ECB and U.S. Fed.

UAE markets saw 764 major deals totaling AED58 billion this year, led by ADX with 95% of the value. The largest transaction involved TAQA, worth AED22.4 billion.