Dubai, UAE - Deloitte Middle East has announced the launch of its Middle East Centre of Excellence for Oracle AI...
New York, United States -- AI chip juggernaut Nvidia became the world's first $5 trillion company on Wednesday, as investors...
First Abu Dhabi Bank (FAB) has achieved solid results in 2024 with Group net profit reaching AED 17.1 billion, up...The performance marks consecutive years of sustained growth in scale and profitability
FAB’s Board of Directors recommends a cash dividend of 75 fils per share
- Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...
According to GASTAT, Saudi Arabia's inflation rate is considered the lowest among the G20 countries.
CPI measures the prices paid by consumers for a fixed basket of goods and services consisting of 490 items.
San Francisco, United States -- OpenAI's board chairman on Friday said it has unanimously rejected an Elon Musk-led offer to buy...Musk filed court documents saying he will withdraw the offer to buy OpenAI if its board returns the artificial intelligence pioneer to a non-profit "charity" model.
OpenAI currently operates a hybrid structure, as a non-profit with a money-making subsidiary.
The Group's revenue increased 48 percent year-on-year.Net profit attributable to owners grew 24 percent YoY to AED1.33 billion led by strong operating performance.
Total assets grew by 15 percent YoY to AED63.70 billion in 2024 while total equity increased 15 percent YoY to AED27.83 billion.
Nissan and Honda shares surged in Tokyo Friday after the auto giants confirmed they scrapped merger talks and Nissan detailed...Nissan shares soared 8.17 percent to 449 yen in early trade before easing to 439.5 yen
Honda shares rose 4.46 percent to 1,498 yen, before easing to 1.487 yen
- London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the...
London was a rare faller owing to sharp losses to share prices of big companies, including Unilever, Barclays and British American Tobacco.
With Russia being a major producer of oil, crude futures fell heavily on easing supply concerns, while the dollar lost some of its safe-haven support.
- The company's revenues increased 6.7 percent year-on-year.
TAQA said the net income excludes one-off items (AED 10.8 billion) related to the acquisition of a 5 percent stake in ADNOC Gas.
The company's revenues increased 6.7 percent year-on-year to AED55.2 billion, driven by sustained Transmission & Distribution (T&D) growth.
The company's revenue increased by 29 percent to $3.54 billion.EBITDA rose by 31 percent to $1.149 billion (AED 4.219 billion) in the same period, driven by robust performance across all business segments.
The Company's Q4 revenue increased by 6 percent year-on-year (y-o-y) to $881 million (AED 3.237 billion).
Dubai, United Arab Emirates -- The United Arab Emirates is planning to launch new artificial intelligence models inspired by China's DeepSeek,...The UAE is betting big on the transformational technology as part of its push to diversify its economy away from fossil fuels.
The UAE launched Falcon in 2023, a large language model that compared favorably with industry leaders including OpenAI's ChatGPT.
- Minus UAE corporate tax, it would have grown by 2.4% to $725m
The company achieved its highest-ever (EBITDA) of $1.05 billion (AED3.86 billion), an increase of 4.8 percent year-on-year.
The company's Board of Directors has recommended a cash dividend of $350 million (AED1.285 billion) for H2 2024.
