Multiply Group acquires Backlite Media
The buyout is part of its plan to boost media business.Business
Europe gives accent to instant payments across the union
Brussels, Belgium - Bank customers will soon be able to transfer money across Europe within seconds after the EU adopted a...Business
Fraudsters prowl digital world, robbing unwary people in Middle East
Dubai, UAE-- Making payments digitally for every purchase may have become a universal thing, but it is not always the...According to the survey, the majority of users (92%) lost up to $1,000 as a result of these incidents, while (8%)of the respondents reported a loss of more than $1,000
In the Middle East alone, the company blocked more than 1.8 million financial threats and out of them 256,708 in the United Arab Emirates
China’s students use ChatGPT for homework, learning English
Students are also using ChatGPT to bypass China's lucrative English language test prep industry, in which applicants learn thousands of...With its ability to produce A-grade essays, poems and programming code within seconds, ChatGPT has sparked a global gold rush in artificial intelligence tech
Although in China, the service is unavailable without a VPN, over a dozen students told AFP they have used it to write essays, solve science and maths problems
Jebel Ali Free Zone 2022 customer registrations highest in decade
Dubai, UAE -- DP World’s Jebel Ali Free Zone (Jafza) witnessed the highest customer registrations in a decade in 2022,...During the past 10 years, Jafza has seen a 13-fold increase in logistics customers, while the vehicle and transport segment saw a compound annual growth rate of 26 percent.
The number of newly registered Chinese companies in Jafza saw a four-fold increase in 2022, indicating a post-pandemic, healthy demand from the Far East.
White House endorses bipartisan bill empowering US to ban TikTok
The Senate bill and the backing of the White House accelerated the political momentum against TikTok, which is also the...The bill was backed by Mark Warner, a senior US senator from the Democratic party, and John Thune, a South Dakota Republican
TikTok reacted by again pointing to its months of negotiations with the Committee on Foreign Investment in the United States (CFIUS)
Lego to gain market share
Excluding currency effects, the sales gain was 11 percent.For 2022, net profit at the Danish firm rose four percent to a record 13.8 billion kroner ($1.98 billion).
The company has been buoyed both by sets based on franchises such as Star Wars and Harry Potter.
US interest rate likely to rise, says Federal Reserve head
US interest rates will likely peak at a higher level than previously anticipated due to economic data that came in...The US central bank has raised its benchmark lending rate eight times since early last year.
US job gains had surged unexpectedly in January while unemployment slipped to its lowest rate in more than five decades.
ADIB to pay $462m cash dividend
The bank had posted a net profit of $985 million for 2022.This represents an increase from 31 fils per share in 2021 and constitutes 49.2 percent of the bank's net profit for the year.
The bank posted a net profit of $985 million (AED3.62 billion) in 2022, a 55 percent increase from the previous year.
KEZAD, Emtelle ink agreement
Emtelle to invest $50m to build manufacturing facility.The pact is the latest step in the expansion of Emtelle in the Middle East, following the acquisition and rebrand of AfriPipes Middle East in 2021.
Emtelle is undertaking a major expansion into North America with the opening of a manufacturing facility in North Carolina, US.
EGA posts $2 billion profit
The Aluminum producer claimed 2022 results as its strongest ever.EGA said the adjusted EBITDA for 2022 was up 37 percent to a record $3.4 billion, compared to $2.5 billion in 2021.
The company paid shareholders E$1 billion in dividend --,an interim dividend of $600 million in July and further $400 million at the end of 2022.
Agility launches data center sites in Saudi, Kuwait and Egypt
Dubai, UAE--Agility Logistics Parks (ALP) today announced the launch of data center campus sites in Saudi Arabia, Kuwait, Egypt and...The company is preparing the sites at ALP warehousing complexes in fast-growing markets and mega-cities that are looking to add hyperscale data center capacity
It is a market leader in industrial real estate in the Middle East, South Asia and Africa with 1.5 million SQM of warehousing and 12 million SQM of industrial land
