Smart cities lead GCC’s IoT boom: NEOM and Smart Dubai in focus
IoT applications are transforming critical sectors such as transportation, where connected vehicles improve traffic management, utilities where smart grids enhance...Technology Technology Business Economy
Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...Technology Business Economy
Toyota to invest US$2.2bn in Brazil
The automaker will beef up production of hybrid vehicles.The automaker will make two "flex hybrid" models in Brazil -- using either petrol or ethanol as well as batteries -- creating around 2,000 jobs
Japan's automakers, in spite of the boom in electric cars, have relied on hybrid vehicles that combine internal combustion engines and batteries
OpenAI denies Musk’s ‘betrayal accusations, plans legal dismissal
OpenAI captured the public imagination in late 2022 with the release of its chatbot ChatGPT, which can generate poems and...Musk launched a legal case against OpenAI last week, arguing in documents filed in a San Francisco court that the firm was always intended as a nonprofit entity
The Tesla Boss was one of the co-founders of OpenAI in 2015 along with Sam Altman but left the organization in 2018 and is now one of its most vocal critics
FAB shareholders approve dividend
The 50% cash dividend would be to the tune of US$2.12bn.The annual meeting commended the bank's three consecutive years of accelerated business momentum, and its strong platform for future growth
The bank's CEO said that FAB achieved a record net profit of $4.46bn and $7.56bn in revenue in 2023, fueled by growth across all core businesses
Over 105m people visit Dubai Mall in 2023
DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on...Figures also showed a staggering 20 million people visited the mall in the first two months of this year alone.
The mall's events and promotions in 2023 and the beginning of 2024 were a key driver of its foot traffic.
Asian markets mostly down as China sets 5 percent growth goal
Hong Kong, China - Asian markets largely fell on Tuesday after China set an ambitious five percent annual growth target and...Tokyo finished flat, a day after Japan's benchmark Nikkei index hit a record high, closing above 40,000 points for the first time.
Sydney, Seoul, Mumbai, Jakarta, Bangkok, Singapore, Manila and Kuala Lumpur were down, while Taipei and Wellington were up.
Tesla stops production at German plant after suspected arson attack
Michael Stuebgen, interior minister for Brandenburg state, said that "if initial findings are confirmed, this is a perfidious attack on...Emergency services were called to reports of a burning electricity pylon southeast of Berlin in the early hours, in the area the factory is located
But it knocked out power to the Tesla factory, as well as surrounding villages, and police have launched an investigation into suspected arson
TECOM 2023 net profit $299m
Revenue in 2023 grew by 10 percent YoY to $599 million.The approved cash dividend payment is in line with the dividend policy set out in the IPO prospectus
TECOM Group committed to paying a dividend amount of $217 million per annum through September 2025.
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...Starting Wednesday, robot deliveries will be offered in a small area of the city by the US-based food app, which hopes to eventually roll out the service more widely in Japan
Japan changed traffic laws last year to allow delivery robots on public streets and other companies including Panasonic are also trialing cute new machines to transport goods
ADNOC partners with Viola Communications
They will utilize outdoor media-leasing spaces for advertising.Viola will set up and operate outdoor media advertising solutions on ADNOC assets in strategic locations across the capital
The company's diverse assets are expected to boost the local business ecosystem and introduce innovative revenue streams
JetBlue, Spirit Airlines cancel merger
Earlier, a federal judge ruled it violated US antitrust law.Shares of Spirit slumped 14.5 percent in early trading Monday, while JetBlue rose 3.9 percent
Spirit said it has enlisted advisors on efforts to refinance and reduce debt payments
