China’s Baidu releases new, free AI model to compete with DeepSeek
Baidu announced in a WeChat post that its latest X1 reasoning model -- which the company claims performs similarly to...Technology Business
DP World posts record $20bn revenue
The adjusted EBITDA rose by 6.7% to $5.5bn in 2024.Company News Business
Thousands of international companies join Dubai Chamber of Commerce in 2023
Dubai, UAE--A study undertaken by Dubai Chamber of Commerce has revealed that Indian investors topped the list of nationalities of...Some 15,481 new Indian-owned companies became members in 2023, representing year-over-year (YoY) growth of 38 percent
Pakistan ranked second in terms of new company memberships in 2023, with the chamber welcoming 8,036 new businesses in 2023
Cyber insurance shapes the future of cybersecurity
Cyber insurance, particularly around ransomware, is moving towards a world where insured businesses have strong cyber resilience, well-defined disaster recovery...Rising cyber-attack and ransomware effectiveness boosts demand for cyber insurance, leading to increased premiums and stricter coverage rules amid impact on businesses.
Business risks have evolved from physical to digital, propelling cyber insurance toward a predicted $84.62 billion industry by 2030, highlighting the sector's rapid growth.
UAE records more than 25% growth in international card spending in 2023
Dubai, UAE--Total spending using international cards in the UAE witnessed a growth of more than 25% during the year 2023.J.K....Transactions via cards and digital payment solutions in the Middle East and North Africa surged by 20% in value and over 50% in volume
A study found that Middle Eastern consumers are increasingly prioritising sustainability, with 9 out of 10 adults willing to take action
Parkin to give more shares to retail investors in its IPO
Dubai, UAE - Parkin Company on Tuesday announced an increase in the number of shares offered in the UAE Retail...The UAE Retail Offer has been increased to 89,964,000 ordinary shares from 74,970,000 ordinary shares
Parkin is expected to commence trading on the DFM on March 21, 2024, under the symbol “PARKIN”
Lego net profit falls
Its net profit fell five percent to 13.1 billion kroner ($1.24bn).The Danish toy giant's overall sales inched up by two percent to 65.9 billion kroner ($9.6 billion).
Sales made directly to consumers through Lego's physical and online stores rose by four percent.
Qatar real estate trading volume amounts to US$382m in February 2024
DOHA, QATAR – The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at...The data of the real estate analytical bulletin revealed that 350 real estate transactions were recorded during the month.
The real estate transactions value index recorded a decline of 27 percent. The traded area index recorded a decrease of 18 percent.
Potential investors value Telegram at $30bn, says co-founder Pavel Durov
MOSCOW, RUSSIA – The Telegram is valued by potential investors at more than US$30 billion, the co-founder of the social...The US$30 billion valuation was made by global technology funds in particular, Durov said.
The Telegram will consider the sale of a portion of shares to its standing users, the businessman added.
UAE, NeoNautica collaborate to develop Blue Pass platform
DUBAI, UAE – The Ministry of Energy and Infrastructure has signed a collaboration agreement with NeoNautica, a company specialized in...This will help enhance the competitiveness of the national maritime sector, promote its attractiveness to international investors.
This strategic expansion aims to position the UAE as the premier logistical partner for global trade and further consolidate its leadership in the lindustry.
Microsoft to train Philippine women in AI
It will partner with local schools to provide the training.In a statement, Philippine Trade Undersecretary Rafaelita Aldaba said the training could "help to bolster cybersecurity and trust in tech adoption"
Microsoft said it would roll out an AI-powered reading progress tool for around 27 million Philippine students, in partnership with Philippine education department
Xiaomi announces release date for EV
It will be its first foray into the electric vehicle sector.The Beijing-based firm announced in 2021 its planned foray into the electric vehicle sector
The announcement was accompanied by a photo of the new vehicle, first unveiled in December
