AI-Driven technologies drive operational excellence, helping meet sustainability goals
Industrial AI and digital technologies are revolutionizing energy infrastructure, helping companies across asset-intensive sectors achieve operational excellenceBusiness
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...Business
Google’s Russian division faces bankruptcy as debt to creditors soars: TASS
Moscow, Russia - Google's Russian subsidiary is on the brink of bankruptcy as it struggles to cope with its mounting...The subsidiary's financial liabilities have now surpassed a staggering $211,579,032
The company’s ordeal dates back to May 2022 when it declared its intention to file for bankruptcy
China developer Evergrande plunges as Hong Kong trading resumes
The resumption of trading came after the company said in a filing on Friday that it had met guidelines set...Shares of Evergrande plunged as much as 87 percent during morning trading, slashing its market value from a peak of more than $50 billion in 2017 to less than $600 million
Company reported fresh losses for the first half of the year amounting to 33 billion yuan-- an improvement on the 66.4 billion yuan in losses reported in same period last year
China EV giant XPeng to buy rival for over $740m
Founded in the southern province of Guangdong in 2015, XPeng is one of dozens of Chinese startups to emerge in...In a filing to the Hong Kong Stock Exchange, the car giant said it had reached a deal with Didi to buy that subsidiary for $744 million
XPeng sold 41,435 vehicles in the first half of 2023, down 40 percent year on year, according to results published this month
Barclay family seeks Telegraph control with UAE investor support: report
Dubai, UAE - The Barclay family is reportedly making a bid to regain control of the Telegraph newspaper group. Months...The Telegraph's parent companies faced financial turmoil and went into receivership earlier this year
This situation presented a rare opportunity for investors to step in and acquire one of Britain's most prominent newspaper groups
More Middle Eastern firms embrace Responsible AI
A significant 16% of Middle Eastern organizations have fully implemented Responsible AI policies and processes, a latest report highlights.A significant 16% of Middle Eastern organizations have fully implemented Responsible AI policies and processes, a latest report highlights
With AI-related risks on the rise and the regulatory environment in flux, the onus is on businesses to navigate this terrain with agility
Evergrande posts H1 loss
Firm said it has $556 million remaining in cash assets.The developer's January-June losses amounted to 33 billion yuan ($4.53 billion), compared to 66.4 billion yuan lost in the same period last year.
Its statement on Sunday estimated its liabilities now stood at almost $328 billion, down from nearly $340 billion at the end of 2022.
Iran hopes joining BRICS likely to enhance trade and business
Tehran, Iran - Iran’s membership in the BRICS group will lead to the promotion of exports and trade activities, an...Logical policymaking and decisions will lead to positive achievements for the country after joining BRICS, the Iranian official Arsalan Ghasemi said.
BRICS is a club of emerging economies that constitute a large population in the world and this opportunity should be used optimally, he added.
Iran says European countries willing to buy our drones
TEHRAN, IRAN - A number of European countries have asked to purchase Iran’s unmanned aerial vehicles, the spokesperson for the...A spokesperson for the Iranian Defense Ministry said Tehran is prepared to export military drones after fulfilling its domestic needs,
Political and security considerations will be taken into consideration before finalizing such deals, the spokesperson added.
Tehran exports goods worth $7.2bn to West Asia in 4 months from March 2023
TEHRAN, IRAN - Iran exported $7.2 billion worth of products to West Asian countries in the first four months of...Comprehensive strategic five-year plans have been defined for the West Asian countries with a focus on trade infrastructure.
The plans include organizing and development of transportation platforms, banking exchanges, customs and standards.
Iran world’s eighth largest steel producer in first half of 2023
Tehran, Iran -- Iran became the eighth largest steel supplier in the world in the first half of 2023 as...Iran was the world’s seventh largest steel producer in June with an output of 3.2 million mt, up 17.4 percent from June 2022, the report added.
For years, Iran had been ranked 10th globally in the list of top steel-producing countries.
