Hermes overtakes LVMH as world’s most valuable luxury group
Paris, France -- French group Hermes overtook LVMH as the world's most valuable luxury company on Tuesday after shares in...Business
EU to probe use of personal data by X’s AI chatbot
Ireland's data protection watchdog, acting on behalf of the European Union, launched an inquiry Friday into the use of personal...Business
Rolls-Royce makes record deliveries
It delivered 6,032 cars in 2023, the highest in its 119-year history.The United States was the group's biggest market in 2023, followed by China.
The emblematic British car brand became part of German auto giant BMW in 1998.
Baims acquires Orcas Edtech
The firm plans to incorporate one-to-one tutoring services.Baims specializes in providing online tailored recorded courses for university students in Saudi Arabia, Kuwait, Bahrain, and Jordan.
Capitalizing on its market share in Saudi Arabia, Baims is poised to launch a specialized AI-driven test preparation product.
Bahrain Steel raises $450m SLL
The company produces and supplies high-grade iron ore pellets.The proceeds from this loan will be directed towards CAPEX for constructing the world’s largest stockyard shed with rooftop solar panels.
The SLL's framework incentivizes Bahrain Steel to exceed mandatory greenhouse gas (GHG) emissions reductions.
Dubai SME joins hands with CXDA to attract investment
DUBAI, UAE – The Mohammed bin Rashid Establishment for Small and Medium Enterprises Development (Dubai SME), a part of Dubai...The strategic partnership with Dubai SME outlines a comprehensive roadmap.
This will introduce AI for equipping SMEs with innovative financial solutions.
ADQ appoints new ADX chairman
The company also appointed two new Board directors.Ghannam Butti Al Mazrouei is the Secretary-General of the Emirati Talent Competitiveness Council, where he oversees an AED24bn program.
Al Mazrouei also serves on the boards of Abu Dhabi Retirement Pensions and Benefit Fund and AafaQ Islamic Finance.
Vinfast to build EV factory in India
It is part of the company's planned US$2bn investment.According to a VinFast statement, the facility will be in the southern state of Tamil Nadu
In August last year, the firm listed on the Nasdaq as its valuation skyrocketed and then crashed
China’s Evergrande says head of EV arm detained
At the time of its establishment in 2019, Evergrande NEV said it aimed to become the world's leading manufacturer of...Once China's biggest real estate developer, Evergrande has reported more than $300 billion in liabilities and its troubles have become a symbol of the nation's years-long property
The firm's electric vehicle arm NEV said Monday that Liu Yongzhuo - listed on its website as its president - had "been detained in accordance with the law on suspicion of illegal
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
