ATM 2025 to showcase 2,800 firms, 17 percent from Middle East
Dubai, UAE: The Arabian Travel Market, which will take place from Apr 28 to May 1 at the Dubai World...Business
Emirates Islamic Q1 profit $394m
The bank's profit crossed AED 1bn mark for the first time.Company News Business
TSMC first-quarter net profit soars
Its net revenue for the quarter soared nearly 42%.TSMC is the world's largest contract maker of chips that have become the lifeblood of the global economy, powering everything from smartphones to missiles.
Demand for chips has soared in recent years with the growth of AI, but there are fears that Trump's far-reaching tariffs could drive up consumer prices and hurt chipmakers.
Future-proofing hospitality asset value needs financial rigor with emotional intelligence
The GCC’s luxury hospitality sector has become a global benchmark, yet behind every polished facade lies an increasingly complex financial...Real estate-backed assets that offer a blend of long-term capital appreciation and recurring revenue are especially attractive in today’s market, says Victor.
Guests increasingly want to know what a hotel stands for: how it treats its staff, where it sources its ingredients, and whether its promises around sustainability hold up.
Meta to start using Europeans’ data for AI training May 27
Paris, France -- Meta will start using public posts and comments by its European users to train generative artificial intelligence...Meta, the owner of Facebook, Instagram and Threads, said earlier it would develop its AI models with European users' public content and conversations with the Meta AI chatbot.
That means anything from Instagram photo captions to Facebook comments could soon be fair game for Meta AI, though private conversations via WhatsApp will be excluded.
Bank credit to Saudi public and private sectors up by $105 billion: SAMA
Riyadh, Saudi Arabia -- Total bank credit granted to the public and private sectors in Saudi Arabia reached its highest...Total bank credit recorded a monthly growth of 1.2%, increasing by SAR 37.035 billion compared to last Jan, when it stood at SAR 3.005 trillion.
The bank credit granted to the public and private sectors was distributed across more than 17 diverse economic activities.
Nvidia expects $5.5 bn hit as US targets chips sent to China
Nvidia on Tuesday notified regulators that it expects a $5.5 billion hit this quarter due to a new US licensing...US officials last week told Nvidia it must obtain licenses to export its H20 chips to China because of concerns they may be used in supercomputers there
Shares of Nvidia, which have already seen high volatility since Trump's April 2 tariffs announcement, were down over six percent in after-market trades
Denmark’s Royal Unibrew adds AI colleagues into workforce
Fakse, Denmark -- They have names, faces and email addresses, but the five new colleagues at Denmark's Royal Unibrew only...Royal Unibrew in Denmark has introduced five virtual AI colleagues with names and backstories to assist human employees with routine tasks and information retrieval.
The company reports increased engagement since adding photos to the AI agents, and employees interact with them through chats and emails for enhanced efficiency.
Hermes overtakes LVMH as world’s most valuable luxury group
Paris, France -- French group Hermes overtook LVMH as the world's most valuable luxury company on Tuesday after shares in...The market capitalization of Hermes reached 248.6 billion euros ($280.5 billion) at the close of trading in Paris, topping LVMH's 244.4 billion euros.
LVMH shares sank 7.8 percent a day after the group owned by Europe's wealthiest man, Bernard Arnault, reported a two percent drop in first-quarter sales to 20.3 billion euros.
Travel and tourism sector contributes 11.4 percent to Gulf’s GDP
Muscat, Oman -- Travel and tourism sector's contribution to the Gulf's GDP by the end of 2024 reached approximately 11.4 percent,...The growth rate of the sector's contribution to the Gulf's GDP increased by approximately 31.9 percent compared to the figures recorded in 2019.
Statistical Centre for the Cooperation Council for the Arab Countries of the Gulf GCC-Stat said the sector's contribution to the global GDP in 2024 amounted to 2.2 percent.
Ajman real estate transactions reach $560 million in March
Ajman, UAE -- Real estate transactions in Ajman reached AED 2.06 billion ($560 million) in March 2025, marking a significant...Omar bin Omair Al Muhairi, Director-General of the Ajman's Department of Land and Real Estate Regulation, said the emirate recorded 1,025 real estate transactions in March.
Al Muhairi noted that Ajman's real estate market continues to show strong momentum, consistently achieving record figures.
Saudi Arabia’s space economy reaches $8.7 billion in 2024
Riyadh, Saudi Arabia -- The Communications, Space, and Technology Commission (CST) has said that the Saudi space economy reached $8.7...The Saudi space market is projected to reach $5.6 billion by 2035, supported by space technologies, while the global space market reached $176 billion in 2024.
The size of the space market reached $1.9 billion, according to the KSA Space Market 2025 report. Saudi space economy is expected to reach $31.6 billion by 2035.
