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...Business
OpenAI chief technology officer Mira Murati leaving company
San Francisco, United States - OpenAI chief technology officer Mira Murati on Wednesday said she is leaving the company behind ChatGPT,...Business
Brazilian striker Firmino scores hat-trick on Saudi debut
Jeddah, Saudi Arabia--Brazilian forward and former Liverpool star Roberto Firmino hit a hat-trick on his Saudi Pro League debut on Friday...The Brazilian striker scored the goals in the 6th, 10th and 72nd minutes for the team who also fielded several new signings
Saudi Pro League backed by the kingdom's sovereign wealth fund has lured big names from the major European leagues
Saudi League to be broadcast on Fox Sports in USA
The American network will launch the deal with broadcasts of two games on Monday featuring Ronaldo and Karim Benzema. Fox's...Ronaldo's arrival in the kingdom has sparked off big money acquisitions and the league will reach fans across the US
Clubs across Saudi Arabia have deployed their huge budgets to win over football stars like French striker Benzema
Kazakhstan keen to bolster joint investments with UAE: Razdykovich
The Kazakh minister said his country hopes to benefit from the UAE's experience in tourism and development sectors as he...The minister evinced his country's keenness to shore up cooperation with the UAE, particularly in sectors seen as crucial by both countries
He pledged to support Emirati investors in order to boost areas of cooperation, reaffirming that Abu Dhabi will "always be an important partner for us"
Dubai records 2.6bn in weekly real estate transactions
Dubai, UAE - A total of 3,103 real estate and properties transactions valued at approximately $2.64 billion in total were...The weekly DLD report noted that 235 plots were sold for about $609 million, 2,302 apartments and villas were sold for approximately $1.57 billion
Madinat Hind 4 recorded the most transactions for this week, with 72 sales transactions worth roughly $28.17 million
ADX profits vault to $11.70bn
It posted gains in one week on the back of company results.The value of stocks on the bourse increased to $781 billion at the end of Friday's session as against $770 billion at the close of last Friday
Over the week, the equities market saw an inflow of liquidity exceeding $2.34 billion, split between $1.81bn in ADX and $539m in the DFM
Stock markets drop over fears of more interest-rate hikes
In Asian stock market trading, Hong Kong extended the week's losses Friday, even as e-commerce titan Alibaba surged on a...Official data Thursday that showed US inflation rising less than expected in July failed to stop bets on the Federal Reserve raising borrowing costs
Across the Atlantic, better-than-expected UK growth data Friday increased the likelihood of more BoE tightening, boosting the pound
Air Arabia Q2 profit $125m
The company’s turnover during the second quarter was $380m.The profit increased by 187 percent compared to AED160 million ($43.56m) net profit reported for the same period last year.
The company’s turnover for the same period increased by 25 percent, as the strong demand for air travel continued.
IEA predicts record oil demand of 2.2m barrel a day in 2023
PARIS, FRANCE - The International Energy Agency said Friday it had revised upwards its forecast for global oil demand growth in...World oil demand already hit a record 103 million barrels per day in June and August and "could see yet another peak", IEA said.
"For 2023 as a whole, global oil demand is set to expand by 2.2 million barrels per day to 102.2 million barrels per day," it said.
DEWA Q2 revenue $2bn
Consolidated revenue of DEWA rose 4.1 percent in Q2.For the first half of 2023 (H1 2023), DEWA’s consolidated revenue was AED 12.7 billion ($3.46bn) and net profit was AED 2.7 billion ($740m).
By the end of H1 2023, the Company’s net cash from operating activities increased by a record AED 837 million (227.88m) to AED 5.4 billion ($1.47bn).
Al Hammadi H1 2023 net profit $43.5m
In Q2 2023, net profit jumped 25.7% to $21.8 million.The growth was spurred by revenues, which grew by 7.96 percent year-on-year (YoY) to US$153 million.
This was driven by higher revenues reported by Al Hammadi’s medical services and pharmaceutical segments.
