Musk to exit US government role after rare break with Trump
Washington, United States - Billionaire Elon Musk on Wednesday announced he was leaving his role in US government, intended to...Business
ADNOC’s listed companies post over $2.3 billion net profit in first quarter
Abu Dhabi, UAE -- ADNOC Group's publicly traded portfolio companies combined to deliver over $2.3 billion (AED8.4 billion) in first...Business
Trump says urged Apple to manufacture in US not India
Doha, Qatar - US President Donald Trump said Thursday he urged Apple to manufacture its products in the United States...Trump said he told Cook: "We're not interested in you building in India... we want you to build here and they're going to be upping their production in the United States"
Apple announced in February it would invest more than $500 billion in the United States over the next four years and promised to hire 20,000 people in the country
OpenAI abandons plan to become for-profit company
San Francisco, United States - OpenAI CEO Sam Altman on Monday said the company behind ChatGPT would continue to be...The issue had become a serious point of contention for the artificial intelligence trailblazer, with major investors demanding the change to better guarantee returns
But AI critics worried about the dangers of pursuing big profits on such powerful technology without the oversight of a nonprofit board of directors who acted in society's interest
Luberef net profit falls 7% in Q1
A fall in by-products sales leads to profit dip.This is in addition to a decrease in by-products crack margins, despite an increase in base oil crack margins.
Total shareholders’ equity, no minority interest, stood at SAR 4.07 billion as of March 31, 2025.
SABIC net loss $322 million
The company's net profit was $66m in Q1 2024Losses were driven by a SAR 1.05 billion drop in gross profit on higher feedstock prices.
On a sequential basis, net loss shrank from SAR 1.89 billion in Q4 2024.
PureHealth posts $137m Q1 net profit
The Group's revenue increased 8 percent YoY.EBITDA grew 5 percent year-on-year to AED 1.1 billion and net profit grew 3 percent year-on-year to AED505 million in Q1-2025.
haista Asif, Group Chief Executive Officer at PureHealth, commented, “PureHealth’s first quarter results reflect the solid growth witnessed across all core segments."
Trump Organization inks deal to build a golf course and villas in Doha
Doha, Qatar -- The Trump Organization signed on Wednesday its first development deal in Qatar to build a golf course...Eric Trump, executive vice president of the Trump Organization and the US president's son, attended the signing ceremony with Qatari Diar and Dar Global.
The 18-hole Trump International Golf Course and Trump Villas are to be constructed as part of a major government-backed development scheme, Simaisma Project.
Borouge Q1 net profit $281 million
The total dividend paid to shareholders in 2024 $1.3bn.Q1 2025 operational performance remained strong, with production volumes rising 7 percent year-on-year in the first quarter of 2025.
Revenue in Q1 2025 grew 9 percent year-on-year to $1.42 billion, driven by higher average selling prices and increased sales volumes.
Loyalty Lost: How brands need to adapt to the modern traveler
Dubai, UAE: As 2025 unfolds, travel brands are facing a significant challenge: customer loyalty. Traditional rewards programmes, often based on points systems,...To stay competitive, brands must move away from price-based rewards like discounts, which can boost short-term sales but impact profitability
Instead, focusing on personalised offers, exclusive experiences, and tiered memberships is key to fostering long-term customer loyalty
Emirates expects first 777X delivery in H2 2026
Boeing had pushed back the first delivery to 2026 from 2025.In 2024, group's chairman Sheikh Ahmed bin Saeed Al Maktoum urged Boeing to "fix" its problems, warning the embattled aircraft-maker he was unhappy with delays to the 777X.
Boeing had been mired in problems including safety concerns after two 737 MAX crashes within five months and another scare involving the aircraft over Alaska in Jan 2024.
Meta releases standalone AI app, competing with ChatGPT
San Francisco, United States -- Social media behemoth Meta unveiled its first standalone AI assistant app on Tuesday as it...Zuckerberg said the app "is designed to be your personal AI" and would be primarily accessed through voice conversations with the interactions personalized to the individual user.
The release comes as OpenAI stands as a leader of straight-to-user AI through its ChatGPT assistant that is regularly updated with new capabilities.
