News

  Bloomberg Driving a shiny new Mercedes-Benz may soon become a distant dream for many but the most affluent. The average price of a Mercedes reached some$76,590 last year — a 43% increase over 2019 levels. That chimes with the carmaker’s push even further upmarket by focusing on top-end models like the S-Class sedan to bolster profits. The company has ...

  Bloomberg AutoNation Inc, one of the biggest car dealership chains in the US, expects prices for new and used cars to decline this year as manufacturers crank up volumes and offer more incentives to price-sensitive buyers. The company said that fourth-quarter earnings rose to $6.37 a share, a record for the period and easily beating the $5.82 average forecast ...

  Bloomberg Purplebricks Group Plc, the UK estate agent that has seen its market capitalisation shrink from a peak of £1.4 billion in 2017 to a mere £26 million, is putting out the “For Sale” sign. The property broker has started a review that may result in a sale of the company or some of its assets after undertaking a ...

  Bloomberg DoorDash Inc shares jumped after an optimistic earnings report that showed resilient demand for pricey takeout even amid a cost-of-living squeeze. The company also said its president would be stepping down as part of a slate of executive changes. DoorDash is anticipating adjusted earnings before interest, tax, depreciation and amortisation of $120 million to $170 million in the ...

  Abu Dhabi / Gulf Time Following the success of Phase One and Phase Two of the Reem Hills luxury residential community on Al Reem Island, Abu Dhabi, Q Properties, a subsidiary of Q Holding, announced the launch of a new phase of the leading gated community in the heart of the capital. “This project was designed to embody our ...

  Abu Dhabi / WAM The UAE has expressed its sincere condolences and solidarity with New Zealand for the victims of cyclone Gabrielle, which swept across the country and killed a number of people. In a statement, the Ministry of Foreign Affairs and International Cooperation (MoFAIC) expressed its sincere condolences and sympathy to the government of New Zealand, its people ...

  Abu Dhabi / WAM In 2022, the total written premiums for insurance firms listed in local financial markets increased on an annual basis by 13%, equivalent to AED3.34 billion while net profits reached AED1.52 billion. According to a report by the Emirates News Agency on the disclosures of 29 listed national insurance companies of their financial results on financial ...

  Riyadh / WAM Annual upstream oil and gas investment needs to rise by 28% to reach $640 billion by 2030 to ensure adequate global supplies, according to a new report published by the International Energy Forum (IEF) and S&P Global Commodity Insights, the leading independent provider of information, analysis and benchmark prices for the commodities and energy markets. Capital ...

  DUBAI / WAM Investopia, the global investment platform launched by the UAE government, and Mubadala, the sovereign investor, announced a strategic partnership focused on Investopia’s second annual event, which will take place on March 2-3 in Abu Dhabi, under the theme “Envisioning Opportunities in Times of Change”. This strategic partnership will build on the successful participation of Khaldoon Al ...

  Dubai / WAM Etihad Airways is expanding its European network this summer with the introduction of a new direct service between Abu Dhabi and Lisbon, effective from July 2. The airline will be connecting Abu Dhabi to Portugal’s capital city right in time for the summer holidays, with three weekly flights scheduled to be operated on Tuesdays, Wednesdays and ...