Food dispatch app Uber Eats launches robot deliveries in Tokyo
Uber Eats' boxy robots have square headlights for eyes and three wheels on each side to navigate kerbs as they...Business
Middle East commercial aircraft services market to grow to US$28bn
Abu Dhabi, UAE--The MENA region's commercial aircraft services market will more than double in value by 2042, according to Airbus’...Business
Amazon logs profit in Q1
The company's shares spiked over 10 percent on Thursday.Amazon shares spiked more than 10% shortly after release of the earnings figures, only to sink slightly below the day's closing price
For the first time in several quarters, Amazon may finally have a bit of wind at its back, said Insider Intelligence principal analyst Andrew Lipsman.
MEA manufacturers eye digital technology for growth
While 82% firms are increasing investments in industrial automation and robotic process automation, 56% of them focus on enhancing employees'...While 82% firms are increasing investments in industrial automation and robotic process automation, 56% of them focus on enhancing employees' digital experiences at workplace
To meet the evolving demands, firms are investing in renewable energy sources and eco-friendly production methods, ensuring long-term growth while minimizing environmental impact
American Q1 profit at $10m
The airline's revenues were $12.2 billion, up 37 percent.The strong first-quarter results will enable American to make profit-sharing payments to employees for the first time in three years.
With higher debt levels than rivals, American said it is around 60 percent through its goal of reducing debt by $15 billion by the end of 2025.
Global stocks rise despite data showing US economic  slowdown
Wall Street stocks pushed higher despite data that showed US economic growth is slowing, which raised fresh questions about interest...The first quarter growth figure adds to lackluster US consumer confidence data which has deepened worries about a broader recession.
Yields on US government debt rose after the data was released and also reported a drop in weekly jobless claims.
FAB posts Q1 net profit of $1bn
Operating income increased by 51 percent year-on-year.The Q1 net profit rose by 60 percent sequentially, leading to an annualized Return on Tangible Equity of 18.5 percent.
The cost-to-income ratio improved to 25.1 percent, compared to 33.2 percent in the same quarter last year.
Strong first-quarter Meta earnings push Wall Street stocks up
Meta reported a profit of $5.7 billion in the first quarter of this year, beating forecasts after a massive wave...About 30 minutes into trading, Meta was up around 15 percent, while all three major US indices were in positive territory.
The broad-based S&P 500 advanced 0.8 percent to 4,087.37, while the Nasdaq Composite Index climbed 0.9 percent to 11,960.26.
US growth rate slows in Q1 as recession fears rise
US economic growth lost steam in the first quarter this year, said the Commerce Department, as the possibility of a...US gross domestic product rose at an annual rate of 1.1 percent in the January to March period, down from 2.6 percent in the fourth quarter last year.
The GDP growth figure "reflected increases in consumer spending, exports, federal government spending," said the US Commerce Department.
UAE and Cambodia may eliminate tarrifs, cut non-tariff barriers
The UAE also eyes investment opportunities with Cambodia in logistics and infrastructure, travel and tourism projects, and renewable energy, reports...Non-oil trade relations between the two grew to $401 million in 2022, marking a 31 percent rise in comparison to 2021.
Bilateral FDI between the two touched $3.8 million by 2020, which is likely to increase further with UAE all set to export more
TotalEnergies Q1 profit up 12%
The firm had sold its oil sands activities in Canada to SunCor Energy.TotalEnergies revealed that the net profit during the first three months was $5.6 billion in 2023.
Jump in oil, gas prices post Russia-Ukraine war boosted TotalEnergies' profit to $20.5bn in 2022.
Barclays Q1 net profit at $2.2bn
The bank's profit was boosted by rising interest rates.Pre-tax profit rallied 16 percent to $3.2 billion, making Barclays the biggest gainer on London's top-tier shares index.
The Bank of England and its global counterparts have ramped up interest rates to tackle sky-high inflation.
