Syria signs $800 mn port deal with DP World to develop Tartus port
Damascus, Syria -- Syria signed a $800 million deal with UAE-based company DP World on Sunday to develop the port...Business
Investments rise in data, AI, outpacing physical assets: UN
Geneva, Switzerland - The purchase of physical assets was eclipsed last year by a surge in investment in intangible items...Business
Bitcoin falls below $80,000 first time since November amid market volatility
Hong Kong, China -- Bitcoin sank below $80,000 on Friday for the first time in more than three months as...The digital unit fell to as low as $79,525.88 in early Asian trade -- its lowest level since November 11 and sharply down from the record above $109,000 seen just last month.
The unit saw an eye-watering rally after Donald Trump's election victory in November after he promised on the campaign trail to free up regulations surrounding digital token.
How cyber criminals steal cryptocurrency
Hackers from North Korea have become notorious for their sophisticated and relentless tradecraft, according to Chainalysis. Nearly 60 percent of...A recent $1.5-billion heist of Ethereum from the Bybit platform -- attributed by the FBI to North Korean hackers -- is believed to be the largest yet.
Cryptocurrencies are based on blockchain technology, which publicly records transactions between people holding and exchanging them.
Billionaire Bezos announces restrictions on Washington Post opinion coverage
Washington, United States - The Washington Post will no longer run views opposed to "personal liberties and free markets" on..."We are going to be writing every day in support and defense of two pillars: personal liberties and free markets," wrote Bezos on social media platform X
In January, an award-winning political cartoonist for the newspaper announced her resignation after a cartoon depicting Bezos groveling before Trump was rejected
stc net profit for 2024 $6.58bn
This is an increase of 85.7 percent over the previous year.Revenues for 2024 rose 5.7 percent over the previous year to reach SAR 75.893 billion, and gross profit reached SAR 37.30 billion.
Operating profit increased 9.6 percent over the previous year to reach SAR 14.426 billion.
AI to replace 4,000 jobs in Southeast Asia’s largest bank: DBS
Singapore, Singapore -- Southeast Asia's largest bank DBS said that 4,000 jobs could be cut in the next three years...A Bloomberg Intelligence report last month said banks worldwide will cut as many as 200,000 positions in the next three to five years due to AI.
Last year, the International Monetary Fund said AI could affect around 40 percent of jobs around the world.
Asian markets swing as traders assess latest tariffs volley
Asian markets were mixed Wednesday after President Donald Trump broadened his tariff threats, while traders were also assessing the geopolitical...Tariffs around 25 percent to be imposed on auto imports, semiconductors and pharmaceuticals
He (Trump) risked triggering inflation, market distortions and even a global recession- China's ambassador to the WTO
$2.65bn in contracts signed during first two days of IDEX and NAVDEX 2025
Abu Dhabi, UAE -- Tawazun Council, UAE's authority responsible for managing acquisitions, procurement, and contracts on behalf of the Ministry...Tawazun Council signed five deals worth a total of AED 5.8 billion with local and international companies on the second day of IDEX and NAVDEX 2025.
Tawazun Council is UAE's authority responsible for managing acquisitions, procurement, and contracts on behalf of the Ministry of Defense and security agencies.
Saudi Arabia’s sports fund invests in DAZN streaming service
Paris, France - Saudi Arabian sports investment fund SURJ, linked to the kingdom's sovereign wealth fund, has acquired a minority stake...SURJ, originally named SRJ, was established in August 2024 by Saudi Arabia's Public Investment Fund (PIF) "to invest in acquiring and creating new sports events
SURJ and DAZN will work closely to establish DAZN MENA, a joint venture that will unlock new broadcasting opportunities for Saudi Arabia's growing sports sector
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...The gas will be transported and processed in Egypt at "existing Zohr facilities to be then liquefied in the Damietta (liquified natural gas) LNG plant for export to European market
Europe has been seeking alternative sources of natural gas since Russia invaded Ukraine almost three years ago.
FAB delivers strong results in 2024 with profit before tax of AED 19.9 billion, up 13% yoy
First Abu Dhabi Bank (FAB) has achieved solid results in 2024 with Group net profit reaching AED 17.1 billion, up...The performance marks consecutive years of sustained growth in scale and profitability
FAB’s Board of Directors recommends a cash dividend of 75 fils per share
