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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.
  • UAE backs Egypt’s Ras El Hekma megaproject, aims for $110 billion investment

    Abu Dhabi, UAE - The UAE Ministry of Investment (MoI) announced today its support and key role in the advancement...

    Located approximately 350 kilometres northwest of Cairo, the Ras El Hekma project has garnered significant interest from Emirati investors

    Modon Holding, the master developer for the Ras El Hekma megaproject, will steer the project in partnership with prominent partners from Egypt

  • 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...

    Backers expect OpenAI’s chatbot to become much more widely used and haul in huge profits

    MGX is targeting some of the world's biggest scale global technology investments

  • Waldorf Astoria to open in Madinah by 2028

    With more than 300 luxury rooms, three dining concepts, and various facilities, the hotel will merge global luxury with Madinah’s...

    Set to open in 2028, Waldorf Astoria Al Madinah will be located near the Prophet’s Mosque

    The new project will be a symbol of the Kingdom's aspirations

  • Microsoft beefs-up its AI assistant with voice, vision

    San Francisco, United States - Microsoft on Tuesday doubled down on deploying artificial intelligence to consumers, releasing an updated version of...

    Suleyman was a former leader at AI pioneer Google DeepMind -- and was poached by Microsoft in March from his startup to head up its consumer AI division

    It has since been caught by Google and soon Apple, which are using their dominance of the global smartphone market to get their own AI tools to consumers

  • GM reports US sales dip, that of EVs grew

    The big Detroit automaker reported 659,601 US sales during the period.

    The big Detroit automaker reported 659,601 US sales during the period, down 2.2 percent from the year-ago but marking a slightly smaller decline than analysts projected

    GM described its EV portfolio as "growing faster than the market" with sales jumping 46 percent in the third quarter, topping 32,000

  • The Qatar Airways' deal with Virgin Australia is likely to open several new routes for the two airlines. (File)

    Qatar Airways seeking 25% stake in Virgin Australia

    Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal...

    The deal could significantly shake up Australia's air travel market which is currently dominated by Qantas

    In 2023, Australia's center-left government rejected Qatar's bid to put on 21 extra international flights to and from Australia

  • 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,...

    Murati called her more than six years at the San Francisco-based company "an extraordinary privilege" and described her decision to leave as difficult in a post on X

    OpenAI chief Sam Altman replied to Murati's post with his thanks for what Murati has helped the company build, and promised details on a transition plan soon

  • No peak oil demand ‘on the horizon’, phaseout a ‘fantasy’: OPEC

    Paris, France - OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would...

    The oil cartel's prediction runs counter to the assessment of the Paris-based International Energy Agency, which sees demand for fossil fuels peaking this decade

    In the group's annual World Oil Outlook (WOO), OPEC Secretary General Haitham Al Ghais said oil and gas make up well over half of the energy mix today

  • Boeing lifts wage hike to 30% 

    The 30% general wage hike improves upon the 25% in the earlier offer.

    The International Association of Machinists and Aerospace Workers District 751 walked out on September 13, in a strike involving 33,000 workers in the Pacific

    The 30 percent general wage increase improves upon the 25 percent in the earlier offer, which was initially endorsed by IAM leaders

  • Microsoft cutting more jobs from its gaming unit amid industry layoffs

    San Francisco, United States- Microsoft is cutting about 650 more positions from its gaming unit as it continues to tighten its...

    No games or devices are being cancelled, nor are any studios being closed as part of the "adjustments" made at Microsoft's gaming unit on Thursday, according to Spencer

    Layoffs have become common in the video game industry, with Sony PlayStation early this year announcing it was laying off eight percent of its global workforce