ExxonMobil expects global oil demand near current levels in 2050
New York, United States - Global oil demand is unlikely to fall by 2050 despite progress on renewable energy, the US...Business
Boeing suspends 777X flight tests after part failure, its latest quality control issue
New York, United States - Boeing has suspended flight testing of its new 777X wide-body jet after identifying the failure of...Business
AI entity is Board Observer in IHC
IHC is a pioneer in leveraging AI for decision-making.Aiden Insight is a virtual entity endowed with sophisticated AI capabilities, and is set to revolutionise the way IHC handles the global investment landscape.
This initiative by IHC is powered by AI capabilities of G42 in collaboration with Microsoft, setting a new benchmark for artificial intelligence development.
Rat on a plane sparks worries for Sri Lanka’s airline
Colombo, Sri Lanka - Sri Lanka's national airline on Tuesday blamed a rat for grounding a plane for three days, sparking...The stowaway rodent was spotted enjoying the SriLankan Airlines Airbus A330 flight from the Pakistani city of Lahore on Thursday
An airline official said the plane has now resumed flights, but that the grounding had a knock-on effect on the entire schedule
Multiply Group acquires Backlite Media
The buyout is part of its plan to boost media business.The acquisition seamlessly complements the group’s existing portfolio, which includes Media 247 and Viola Communications
BackLite Media, a premier advertising company, has assets in landmark locations in the UAE with revenues of $63.17m in 2023
Middle East and Africa smartphone shipments surge 30% YoY in Q4 2023
Dubai, Riyadh - Smartphone shipments in the Middle East and Africa (MEA) region witnessed a remarkable surge, growing by 30%...For the entire year of 2023, smartphone shipments in the MEA region increased by 11% YoY, reflecting an upward trend in consumer sentiment
The MEA region demonstrated the highest YoY growth globally during this period, attributed to improved economic conditions and rebounding consumer demand
IHC posts net profit of US$8.97bn
Its revenue jumped to US$16.33 billion, a rise of 17.9 percent.IHC's earnings per Share (EPS) saw huge growth, more than doubling from AED 6.81 to AED 12.55
Its revenue jumped to $16.33 billion, a jump of 17.9 percent from the previous year's $13.85 billion
Digital innovation spurs gender parity in Middle East
Technology, from digital platforms to AI, offers a transformative avenue for empowering women, says Isabel Neiva of Kearney Middle East...Technology, from digital platforms to AI, offers a transformative avenue for empowering women, says Isabel Neiva of Kearney Middle East & Africa.
She adds that technology is enhancing access to education, employment, and entrepreneurship opportunities beside health and well-being for women.
UAE banks ride on growth, operational efficiencies
The country's banking sector emerges stronger, showcasing resilience and profitability with a notable 54.1% increase in net income, says a...The country's banking sector emerges stronger, showcasing resilience and profitability with a notable 54.1% increase in net income, says a latest report.
Despite global economic challenges and geopolitical uncertainties, prudent risk management has positioned UAE banks for continued success, it adds.
Europe gives accent to instant payments across the union
Brussels, Belgium - Bank customers will soon be able to transfer money across Europe within seconds after the EU adopted a...Under the new rules, people in Europe will be able to transfer money within 10 seconds at any time of the day, including outside business hours
The law is expected to enter into force formally by April, and banks in the eurozone single currency area must allow instant payments within 18 months of that date
Renault Scenic model wins Car of the Year at Geneva auto show
Renault unveiled a new electric vehicle and its Scenic model won the Car of the Year award at the first...Renault is the only European automaker with a presence at this year's industry gala.
Volkswagen and Stellantis, whose brands include Peugeot and Fiat, decided to skip the event.
Japan’s Moon craft SLIM revives after lunar night
TOKYO, JAPAN – Japan's Moon lander has produced another surprise by waking up after the two-week lunar night, the country's space...The unmanned Smart Lander for Investigating Moon (SLIM) touched down last month at a wonky angle that left its solar panels facing the wrong way.
As the sun's angle shifted, it came back to life for two days and carried out scientific observations, Japan Aerospace Exploration Agency (JAXA) said.