stc net profit for 2024 $6.58bn
This is an increase of 85.7 percent over the previous year.Company News Business
Cyprus and Egypt sign deal to process, export gas to Europe
Nicosia, Cyprus -- Cyprus and Egypt on Monday signed an agreement with an energy consortium to export gas from the Mediterranean...Business Energy
Honda to set up EV plant in Canada
The plant is estimated to cost Honda US$14 billion.the project would represent one of the multinational firm's biggest investments ever
Honda said that it is "considering a number of initiatives as we move into the electrified era"
Qatar PMI data reveals ‘stable business conditions’ in non-energy sector
Doha, Qatar--Qatar's non-energy private sector registered broadly stable business conditions in December, the latest Purchasing Managers Index (PMI) survey data...The survey reveals that financial services remained a key source of growth at the end of the year and price pressures were still subdued
The PMI registered 49.8 in December, from 51.5 in November and the latest figure was close to the mark of 50.0, signaling stable business conditions
Germany ready to sell Eurofighter jets to Saudi Arabia: minister
"We do not see ourselves, as the German federal government, opposing British considerations on other Eurofighter (sales)," Baerbock told journalists...Annalena Baerbock noted that Saudi Arabia and Israel had "not renounced their policy of normalisation" since war broke out
"The fact that Saudi Arabia is now intercepting missiles fired by the Houthis at Israel underlines this, and we are grateful for that," she added
Alumicor to set up base in Bahrain
It will help the kingdom in the processing of aluminum.The collaboration will bring cutting-edge technologies to Bahrain, offering local manufacturers’ opportunities to enhance operational efficiency
Alumicor's facility is expected to create new job opportunities for Bahraini professionals, including in senior executive and administrative roles
GCC telecom firms turn to Europe, Asia for expansion
Wielding piles of cash and cutting-edge technology, many Arab telecom firms are scouting overseas markets to expand business beyond home...Lower valuations of international telecom companies are enticing GCC companies to venture into newer markets with a lot of potential for growth
Many experts feel expansion will provide diversification of the portfolio beyond the GCC to mitigate risks associated with economic fluctuations
Resilient supply chains are essential to global trade: Expert
DUBAI, UAE – For over 30 years, globalization has been the evergreen megatrend as global trade has helped lift some...The COVID-19 pandemic highlighted the critical role of resilient supply chains in sustaining economies worldwide to the forefront.
Wars, armed conflicts, overall increasing geopolitical tensions, and protectionism create serious headwinds for global trade.
Avalon sets sights on Tadawul listing
The firm will offer 6 million shares in its Initial Public Offering.The book-building process for Avalon Pharma's IPO will commence on January 14th and conclude on January 18th.
In the event that there is sufficient demand by Individual Investors, the number of shares initially allocated to participating parties will be reduced to 5.4 million shares.
Utilizing AI is only possible if skill gap is bridged, says expert
DUBAI, UAE - The Artificial Intelligence (AI) revolution is upon us, with AI becoming a pervasive force in our daily...As the rate of AI adoption increases, humans are essential to guiding the technology’s implementation and usage of these technologies.
Executives estimate that up to 40 percent of their workforce may need to reskill as a result of implementing AI or automation over the next three years.
Rules are fine but educate public about generative AI: Expert
Dubai, UAE -- Regulations alone will not safeguard the public against nefarious uses of Artificial Intelligence, people also need to...Investors, inventors and users of this technology need to take a lead in this task of educating the public, says Victor Riparbelli, CEO Synthesia.
The companies providing AI technology must educate through exposure to positive use cases of AI as quickly as possible, he added.
Ahli Islamic signs agreement with AAOIFI to support Islamic banking
MUSCAT, OMAN - As part of its ongoing efforts to support the Islamic banking industry, ahli Islamic signed a Memorandum...The aim is to collaborate in capacity building within ahli Islamic and foster the growth of the Islamic finance sector in Oman.
The signing ceremony occurred concurrently with the AAOIFI-IsDB 18th Annual Islamic Banking and Finance Conference.
