Global VC investment falls to lowest level in nearly seven years
Global VC investment fell from a five-quarter high of US$95.5 billion in Q2'24 to a nearly seven-year low of US$70.1...Business
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...Business
Google unveils changes before strict EU rules kick in
EU rules will apply from Friday to Google, alongside 18 other large social media platforms and websites including Meta-owned Instagram,...Google's latest steps include expanding its "Ads Transparency Center", where users will find more information about targeting for ads in EU
It would publish transparency reports with extra information about how content moderation has been handled for more of its services
AI chips revenue to reach $53bn in 2023: study
Dubai, UAE – The global semiconductor industry is set to witness a significant revenue boost in the coming year, with...Industries spanning the spectrum and IT organizations are expected to incorporate AI chips into their systems
Gartner analysts foresee a substantial rise in the value of AI-enabled application processors within consumer electronics
Classic cars back on the road – in Gaza City
Around 2.3 million Palestinians live in the territory, which has been under a crippling Israeli blockade.Around 2.3 million Palestinians live in the territory, which has been under a crippling Israeli blockade since the Islamist group Hamas seized power there in 2007
There is a ban on importing a range of goods, including car parts, as Israel claims these may be used in producing explosives to be used against it
Egypt reports drop in unemployment rate in Q2 of 2023
Cairo, Egypt--Egypt's unemployment rate fell slightly by 0.1 percent to 7 percent in the second quarter of 2023, according to...According to data, some two million Egyptians were without work, including 1.2 million men and 941,000 women
The country's annual inflation rate jumped to 38.2% in July, up from 14.6% in the same month a year earlier
Chip giant Nvidia rides AI wave as profits soar
The company's stock rose more than 8 percent following the results. This year the company's share price has more than...Nvidia said sales doubled year-on-year to $13.5 billion in the latest completed quarter
The company said revenue in the current quarter would ramp up further to $16 billion
Jadwa buys stake in Gissah
The investment bank bought a 35% stake in Kuwaiti firm.The Saudi investment bank bought the stake through its private equity arm Jadwa Retail Opportunities Fund
It will help Kuwaiti perfume company to prepare for a public listing on the Tadawul, Saudi Arabia's stock market
DIEZ reports 5% rise in revenue
The company logged a 34% surge in EBITDA.The organization also achieved a 10% growth in revenue from leasing operations, a 36% growth in revenue from government services
DIEZ’s three economic zones, the Dubai Airport Free Zone DAFZ, Dubai Silicon Oasis and Dubai CommerCity achieved a combined 17% growth
Qantas posts bumper profit
The airline's annual profit climbs up to US$1.1 billion.
Vietnam shoemaker to cut 1200 jobs
PouYuen Vietnam employs an estimated 40,000 workers.It announced in May almost 6,000 workers with permanent contracts would be laid off, after letting go almost 3,000 permanent staff in February.
That came after PouYuen put 20,000 of its workers on paid leave in rotation last year.
Markets surge as traders await Powell speech, Nvidia results
A rally in Nvidia helped propel gains in global markets earlier this week, though traders could not keep up the...All eyes are on a planned speech Friday by Fed chief Jerome Powell, with dealers hoping for some clarity on its plans to keep inflation on a downward path.
Investors are also awaiting earnings from Nvidia, which is tipped to post forecast-busting revenue in the second quarter thanks to the surge in demand for its processors.
