London, United Kingdom -- Why do investors flock to gold when economic times turn tough? As the precious metal reaches...
Dubai, UAE -- A total of 47 international companies have shown interest in developing the seventh phase of the Mohammed bin...
Dubai, UAE— Dubai Electricity and Water Authority (DEWA) and Xanadu, a Canadian quantum computing company, are considering strategic cooperation in...The meeting between DEWA’s CEO and Xanadu’s CEO discussed the latest developments in quantum computing technology and its impact on the energy sector
Al Tayer noted the importance of the technology in addressing the world’s biggest challenges like climate change and energy sustainability
Riyadh, Saudi Arabia— Saudi Arabia has signed a memorandum of understanding (MoU) with Wemade, a South Korean firm, to boost...The agreement with Wemade, the South Korean firm, is expected to boost the kingdom’s chances to be among the top leaders in the industry
Savvy Games, a firm owned by the Public Investment Fund, bought out Scopely, the US-based gaming company, for $4.9 billion in April
Google found itself under pressure due to a general slowdown in advertising spending, over-hiring during a Covid-era boom and a...Google's quarterly revenue came in at nearly $70 billion, better than expected by analysts, and in the same three-month period that the company said it would lay off 12,000 staff
Microsft reported profit of $18.3 billion on revenue of $52.9 billion as Cloud and AI more than offset drops in revenue from licensing Windows software to computer makers
US consumer confidence fell more than many predicted in April, fueled by a deterioration in expectations among Americans over 55...The consumer confidence index fell in April to 101.3, down from a revised 104.0 in March, the Conference Board said in a statement.
New home sales in the United States defied expectations to hit a one-year high in March, the Commerce Department said.
ABU DHABI, UAE - The Abu Dhabi Department of Economic Development (ADDED) and Wio Bank announced on Tuesday that would...In less than 48 hours, Wio will help set up corporate accounts for SMEs licensed by ADDED and provide an up-to-date view of their financials.
Wio will work with Abu Dhabi Residents Office, Abu Dhabi SME Hub, and TAMM, Abu Dhabi Government Services, to extend banking and business services.
- Dubai, UAE - Dubai Electricity and Water Authority (DEWA) has signed a sponsorship agreement with the Roads and Transport Authority...
RTA will be the Platinum Sponsor of the World Green Economy Summit for three sessions from 2023-2025.
The World Green Economy Summit plays a fundamental role in supporting the UAE’s outstanding efforts in climate action, said DEWA chief.
The country increased its military spending by 16 percent to reach an estimated $75 billion, surpassing the United Kingdom, Germany,...The country increased its military spending by 16 percent to reach an estimated $75 billion
The Middle East, with Saudi Arabia in the lead, had the highest military burden in 2022
Dubai, UAE -- Dubai Multi Commodities Centre hosted a China Business Day at Almas Tower, which drew more than 200...DMCC is home to more than 750 Chinese companies, which accounts for over 12 percent of all Chinese businesses registered in the UAE.
DMCC said in a statement that the event celebrated the flourishing commercial ties between the UAE and China as bilateral trade is likely to reach 200bn by 2030.
- The company posted a first quarter operating loss of $172 million.
The Swedish company also saw the number of paying subscribers grow to 210 million.
Spotify said it posted its strongest first quarter in 2023 since 2018 when it became public.
- The net profit plunged by more than 56 percent compared to Q1 2022.
The company said in a Tadawul disclosure that its revenue of 2 billion riyals in Q1 was 11.11 percent less than 2.3 billion in the first quarter of 2022.
Earnings per share was 0.65 riyal during the first three months of 2023, lower than 1.48 in Q1 2022.
