EGA to acquire Leichtmetall
EGA is to buy 100 percent of firm from Leichtmetall Holding.Company News Business Global
Upskilling key to offset AI banking job losses
Increasing adoption of Artificial Intelligence in banking operations could lead to automation of nearly 52 percent of jobs by 2025....AI can be used to automate many of the routine tasks that are currently performed by bank employees, such as processing transactions, responding to customer queries.
While AI could lead to job losses in some areas, it could also free up employees to focus on more complex and challenging tasks.
Realty projects worth $1.10 billion completed in H1 in Dubai
Dubai, UAE -- Dubai witnessed the completion of nine real estate projects worth AED 4.06 billion ($1.10 billion) in H1...According to data issued by the Dubai Land Department (DLD), 392 real estate projects are currently being developed in the emirate.
In the first half of 2023, the Dubai Land Department issued 4,416 real estate licenses, reflecting increasing demand for licenses for real estate various activities.
War-weary Yemenis drown torment in specialty coffee
The Arab world's most impoverished country, locked in an eight-year conflict between Houthi rebels and forces supporting the internationally recognized...Legend has it that Sufi mystics on Yemen's western coast were the first people to brew coffee beans back in the 15th century
Yet Yemeni entrepreneurs have until recently focused on exporting their best product to wealthy overseas markets
Meta posts big earnings
It posted a profit of US$7.8bn in the recently ended quarter.Meta reported a profit of $7.8 billion on $32 billion in revenue during the recently ended quarter, as the number of people using Facebook monthly rose to 3.03 billion
Meta is seeing "good progress" in bringing in money from Reels, with the video snippets played more than 200 billion times daily across Facebook and Instagram, Zuckerberg said
Israel troops kill Palestinian teen in West Bank: ministry
So far this year, violence linked to the Israeli-Palestinian conflict has killed at least 203 Palestinians, 27 Israelis, one Ukrainian and one Italian,...The shooting occurred in the city of Qalqilya in the northern West Bank where the army confirmed it had conducted "counter-terrorism activity"
The Palestinian health ministry identified the dead teenager as Fares Abu Samrah, 14, and said he died of bullet wounds to the head
Samsung Q1 profit falls 95%
This is firm's worst quarterly profit since Q1 2009.Samsung's second-quarter net profit fell 84.5 percent to 1.72 trillion won, and sales dropped 22.3 percent to 60 trillion won
The firm blamed weak demand for its chips and mobile phones, but offered an optimistic outlook for the remainder of the year
DEWA commissions 676 11 kV distribution substations in H1 2023
Dubai, UAE - Dubai Electricity and Water Authority (DEWA) commissioned 676 11kV distribution substations across Dubai in the first half...The construction of the substations and associated tasks for new customers required a combined effort of 505,684 man-hours
Last week, DEWA and Sungrow, decided to collaborate to accelerate clean energy adoption in the UAE
Fawry to expand into Saudi Arabia
The money transfer firm plans to set up base across the GCC.The talks with Saudi Payments, according to Fawry, are likely to conclude by the end of the year
In Saudi Arabia, the number of users in the digital commerce market is expected to amount to 36.38m by 2027
DIB logs 15% net profit growth
The bank recorded a total income of $2.53 billion.The bank's net financing and sukuk investments have reached $68 billion
Total income rose to $2.53 billion, reflecting a 49 percent YoY increase
EasyLease revenue grows by 37.5%
The company logged a net profit of $4.4m.The company registered a net profit of $4.4 million, compared to $6 million in the previous corresponding period
A subsidiary of Abu Dhabi-based International Holdings Company (IHC), Easylease has recently reaffirmed its 2023 guidance
