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TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.
  • Plot of land on Red Sea sells for $352.7m

    In one of the largest real estate deals in Jeddah this year, the Saudi Oger Company's "Arjuwan Red Sea Project"...

    The value of the endeavor amounted to more than $9.52mln for the land exceeding 281,000 sqm in a privileged location in the Alshatei district

    The Arjuwan Red Sea Project is one of the most promising and ambitious real estate projects in Jeddah

  • Oman sets terms for top hotels to open event halls

    Four and five-star hotels in Oman may open meeting and celebration halls, but must follow certain restrictions.

    Celebration and meeting halls in top hotels can function with a maximum of 35 percent capacity

    The hotels would have to allow entry to only those fully immunized with vaccines approved Oman

  • Lebanon taps Dubai’s ENOC for fuel swap

    Lebanon is expected to use ENOC’s fuel to generate electricity, as the Iraqi oil is deemed unsuitable for the process.

    As part of the deal, Lebanon will give ENOC 84,000 tons of Iraqi high-sulfur fuel oil

    In return, the country will receive 30,000 tons of Grade B fuel oil and 33,000 tons of gasoil

  • Israel gives hospitals $31 million to end partial strike

    Finance Minister Avigdor Liberman said the Treasury had transferred the amount to the public hospitals.

    Staff and administrators at these hospitals have been protesting against the government’s failure to provide adequate healthcare funding

    Since Wednesday morning, several public hospitals in Jerusalem have not been admitting patients from brought by the emergency services

  • Iran steel production rises 10% in 2021

    The country has kept its position as the 10th largest producer of steel in the world this year.

    The performance of some leading Iranian steel companies indicates they exported 916,236 tons of steel in June

    This which indicates a growth of 104 percent compared to June 2020

  • $1.68 billion weeklong realty deals recorded in Dubai

    DUBAI: Real estate and property transactions worth AED 6.2 billion were recorded in Dubai during the week ending Thursday. Dubai...

    The most expensive plot of land sold for AED33 million in Hadaeq Sheikh Mohammed Bin Rashid.

    Jabal Ali First recorded the most transactions for this week by 75 sales transactions worth AED315 million.

  • Facebook may launch digital wallet

    The wallet, Novi, would let users store cryptocurrencies.

    Facebook said in 2019 it planned to introduce a cryptocurrency called Libra, which changed its name to Diem in 2020 after facing regulatory resistance.

    Company says it would have preferred to release Novi alongside Diem, but the latter's timing was uncertain.

  • Majid Al Futtaim secures $1.5bn SLL

    Women to form 30 percent of board members under agreement.

    The revolving credit facility is the largest in the MENA region.

    Company also plans to have all its malls certified LEED Gold or better.

  • Disney, Delta, Big Tech dampen movie theater party at CinemaCon

    After a year-and-a-half of big film releases placed on hold due to Covid, the CinemaCon trade summit has seen studios...

    After a year-and-a-half of big film releases placed on hold due to Covid, the CinemaCon trade summit has seen studios show off a glut of forthcoming blockbuster offerings

    But beneath the talk of theatrical renaissance is a great deal of uncertainty -- highlighted by the absence from Caesars Palace of Disney

  • Qatar gets first batch of Boeing F-15 fighter jets

    They were produced by the United States and Boeing in partnership with Qatar itself.

    The rollout took place on Wednesday in a ceremony at Boeing’s headquarters in the US state of Missouri

    Qatar’s Minister of State for Defense Affairs Khalid bin Mohamed Al Attiyah was in attendance

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