Business - TRENDS MENA

Jakarta, Indonesia -- Indonesia broke ground Sunday on a $5.9 billion megaproject for EV battery production backed by Chinese giant...

The bank took hits across a range of start-up investments.
The company said its annual net loss came to 970 billion yen on sales of 6.57 trillion yen, reflecting losses from its Vision Fund portfolios
The Vision Fund 1 and 2 (VF1, VF2) vehicles were hit by the global tech rout, SoftBank Group said in a statement
Keeping the Swiss banking division as an independent unit appeals to many in Switzerland -- particularly as it could prevent...
Investors are anxious to know whether UBS will integrate the Swiss banking division into its own domestic business, sell it, or even split it through a share offering
Ethos, which represents pension funds in Switzerland, said splitting off the Swiss branch was best option to protect jobs and to avoid concentrating risks in one giant bank
Abu Dhabi, UAE-- The UAE's gross domestic product (GDP) is estimated to have grown 7.6 percent in 2022, shored up...
The bank said that in spite of the rise in global inflation, the UAE's remained below the average rate of 4.8 percent, with a decline expected in 2023
The report noted the bank's efforts to ramp up monetary stability, improve financial sector's resilience, and support economic activity in the UAE
Its net profit fell 7 percent to US$50 million in Q1 of 2023.
Its revenue also plunged to $122 million in Q1 as against $140 million in the same period of last year
The company attributed the decline in revenue and net profit to a fall in energy prices from high levels
Analysts had foreseen an increase in subscribers for the period, but a hike in prices sent customers turning away from...
Total subscribers to Disney Plus fell to 157.8 million, the Burbank, California-based group said, with the company losing $659 million in its streaming unit
Disney said that despite the fall in subscribers, revenue per customer had increased and added it believed the subscribers would again pick up
Revenue increased to $33.21 million, up 16 percent.
Revenue increased to $33.21 million, up 16 percent compared to the same period last year
Administrative and general expenses declined 21 percent year-on-year to $4.5 million
Its transformative power to reshape life has left people awestruck across the world, but the technology that powers ChatGPT might...
According to a Goldman Sachs economist, more than 65 percent of occupations will be partially or fully automated in the coming years
Critics of generative artificial intelligence that powers chatbots argue that it can never be able to replace the genius of human mind
The company posted a net profit of $104 million for the quarter.
The net profit was up despite higher operating expenses, higher net finance cost and higher zakat and income tax expenses.
Revenues increased in the Retail, Food Processing and Frozen Food segments by 11 percent, 2 percent and 15 percent, respectively.
Abu Dhabi, UAE - ADNOC and Baker Hughes announced Wednesday a deal to accelerate the development and commercialization of technology...
ADNOC will leverage Baker Hughes’ extensive hydrogen expertize and broad portfolio to test and develop solutions to produce low-cost green hydrogen.
Baker Hughes has been a longstanding strategic partner to ADNOC, deploying advanced technologies and solutions across the energy value chain.
Dubai, UAE - A delegation of Palestinian business executives including 21 start-up representatives visited Dubai Chamber of Digital Economy. It...
The event included demonstration of key steps to set up a digital-first business in Dubai, and trade opportunities with Dubai companies.
Participants at the event included Hashim Shawa, Chairman of Bank of Palestine Group, and; Linda Tarzi, Board Member at Bank of Palestine Group.