TSMC’s H1 revenue up 40 percent
Robust demand for AI technology behind the surge.Company News Business
Trump says ‘no extensions’ to Aug 1 tariff deadline
While Trump imposed a sweeping 10 percent tariff on goods from almost all trading partners in April, higher rates customized...Business Economy Geostrategy
Chinese auto giant BYD to integrate DeepSeek, broaden self-driving tech
BYD will install its "God's Eye" autonomous driving system in at least 21 models, including the Seagull budget hatchback priced...The company also said it would integrate AI startup Deepseek's software into its cars, following domestic peers such as Geely, Great Wall Motors, and Leapmotor
BYD is Tesla's biggest rival in China and increasingly abroad, and Monday evening's announcement led analysts to suggest a new price war might be on the horizon
Government chiefs and tech leaders gather in Paris for AI summit
Political and tech industry leaders were set to descend on Paris Monday for a two-day summit on artificial intelligence, hoping...Macron announces US$113 billion investments in AI in coming years in France
China is opening an investigation into monopolistic practices by Google
Maaden raises $1.25bn in sukuk offering
The Sukuk were offered in a five-year and a 10-year tranche.The five-year tranche of $750 million consists of 3,750 Sukuk based on the minimum denomination and total issue size.
Maaden said the annual return on the five-year tranche is 5.25 percent and 5.50 percent for the 10-year tranche.
UAE announces top-up tax for multinational enterprises
Abu Dhabi, UAE - The Ministry of Finance has announced the issuance of Cabinet Decision No. 142 of 2024 on...The top-up tax will apply to entities that are members of Multinational Enterprises (MNEs) operating in the UAE with annual global revenues of €750 million or more
To bolster the UAE’s competitiveness as a leading investment hub, the top-up tax has been structured to exclude Investment Entities
Big Tech’s AI spending rattles markets
Amazon and big tech peers Microsoft and Google saw their stock prices fall on concerns over high AI investment costs....Meta's stock surged 18 percent in January as investors endorsed its AI strategy
Amazon forecasts 5-9 percent growth in Q1 2025, with sales between US$151 and US$155.5 billion
Exclusive: Green investments lead to tangible returns, says WEF’s Philips
Public-private partnerships are essential for advancing sustainable urban development and meeting net-zero targets, Vivian Brady Phillips, Head of Strategic Initiatives,...Public-private partnerships are essential for advancing sustainable urban development and meeting net-zero targets, Vivian Brady Phillips tells TRENDS
Technology plays a crucial role in sustainability, enabling energy-efficient operations, smart city connectivity, and digital waste tracking
UAE non-oil foreign trade up by 14.6% in 2024 to reach $816bn
Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching...He said that of all the positive indicators, the most encouraging is the increasing contribution of non-oil exports to UAE's foreign trade.
Last year, they climbed 27.6 percent in to reach a record AED561.2 billion – nearly 70 percent of the AED800 billion target.
DAE net profit up 36.2%
Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.Total assets reached more than US$13 billion by the end of 2024 compared to US$12.26 billion in 2023.
DAE said it acquired 83 aircraft (owned: 30; managed: 53) and sold 68 (owned: 19; managed: 49).
Dubai airport clocks record 92.3 million passengers
A record 92.3 million passengers travelled through Dubai's international airport last year, its operator said on Thursday, extending a post-pandemic...The UAE has now been ranked as the world's busiest international air hub for a decade
The airport was targeting 400 international destinations, up from 272 currently
Borouge 2024 net profit $1.24bn
The company said it will maintain a $1.3bn dividend for 2025.EBITDA climbed 14 percent year-on-year to $2.48 billion, driven by a 4 percent year-on-year revenue increase to $6 billion.
Sales volumes reached their highest-ever level of 5.3 million tonnes, supported by strategic positioning in high-growth markets across Asia, the Middle East and Africa.
