May 2025 Islamic Treasury Sukuk auction attracts bids worth $1.88bn
Abu Dhabi, UAE -- The Ministry of Finance (MoF), in its capacity as the issuer and in collaboration with the...Business
Troubled Boeing faces investors and awaits strike vote
Boeing, the beleaguered aviation giant announces what is expected to be its biggest quarterly loss in four years, and striking...Analysts estimate a loss of US$6.1 billion, its biggest since the fourth quarter of 2020
On October 15, Boeing announced it plans to raise up to US$25 billion to navigate the period
Microsoft unveils autonomous AI agents for business tasks
San Francisco, United States - Microsoft on Monday said it was enhancing its AI offerings with new autonomous agent capabilities as...AI agents are specialized programs designed to perform routine tasks autonomously, such as sifting through sales leads or handling customer service inquiries
The AI agent has become the newest buzzword for major software companies that are investing billions in powerful AI models, which they believe will shape the future of computing
Netflix adds millions of subscribers but growth slows
San Francisco, United States - Netflix on Thursday said it added more than five million subscribers in the recently ended quarter...The streaming juggernaut said it ended September with 282.7 million subscribers, reporting a profit of $2.4 billion
Netflix shares rose nearly five percent to $720.75 in after-market trades, trading at slightly more than double the price from a year earlier
Boeing to cut 10% of workforce
The company has projected a large third-quarter loss.The aviation giant must "reset our workforce levels to align with our financial reality," Chief Executive Kelly Ortberg said
The company announced a series of belt-tightening measures and production delays in the wake of the nearly monthlong strike of 33,000 workers
Riyadh Season 2024 signs sponsorship agreements with local, global partners
Riyadh, Saudi Arabia-- A signing ceremony for Riyadh Season 2024 sponsorships was held on Thursday at Via Riyadh.General Entertainment Authority...Riyadh Season provided a sponsorship worth SAR2 million to the Association of Saving Food
It is a major opportunity for companies to achieve maximum exposure in global and local markets
US considering Google breakup following monopoly ruling
The US Department of Justice (DOJ) made recommendations for Google’s search engine business practices on Tuesday, according to US media....Structural remedies that would prevent Google from using products such as Chrome, Play, and Android
Google will likely appeal, drawing out the process potentially for years
UAE backs Egypt’s Ras El Hekma megaproject, aims for $110 billion investment
Abu Dhabi, UAE - The UAE Ministry of Investment (MoI) announced today its support and key role in the advancement...Located approximately 350 kilometres northwest of Cairo, the Ras El Hekma project has garnered significant interest from Emirati investors
Modon Holding, the master developer for the Ras El Hekma megaproject, will steer the project in partnership with prominent partners from Egypt
MGX participation confirmed in OpenAI’s US$6.6bn in new funding, valuing it at US$157bn
OpenAI has finalized a deal to receive US$6.6 billion in new funding from investors who valued the company at US$157...Backers expect OpenAI’s chatbot to become much more widely used and haul in huge profits
MGX is targeting some of the world's biggest scale global technology investments
Waldorf Astoria to open in Madinah by 2028
With more than 300 luxury rooms, three dining concepts, and various facilities, the hotel will merge global luxury with Madinah’s...Set to open in 2028, Waldorf Astoria Al Madinah will be located near the Prophet’s Mosque
The new project will be a symbol of the Kingdom's aspirations
Microsoft beefs-up its AI assistant with voice, vision
San Francisco, United States - Microsoft on Tuesday doubled down on deploying artificial intelligence to consumers, releasing an updated version of...Suleyman was a former leader at AI pioneer Google DeepMind -- and was poached by Microsoft in March from his startup to head up its consumer AI division
It has since been caught by Google and soon Apple, which are using their dominance of the global smartphone market to get their own AI tools to consumers
