AI in focus as world’s biggest mobile fair gets underway in Spain
Barcelona, Spain - The world's biggest mobile phone fair throws open its doors in Barcelona Monday with the sector looking to...Business
MENA ups cybersecurity ante to combat GenAI risks
With GenAI emerging as a new frontier for cyber threats, and stricter data privacy laws coming into effect, organizations are...Business Tech & Media
YahClick, Canar sign 6-year pact
The $15 million pact will expand YahClick's presence in Africa.The deal will make Sudan's Canar Telecom one of YahClick’s largest service providers across the region.
Under the agreement, Canar has procured significant satellite capacity from YahClick.
UAE launches project to establish centralized database of industrial companies
ABU DHABI, UAE - UAE Ministry of Industry and Advanced Technology (MoIAT) Monday launched the Industrial Census project, in collaboration...The project aims to create a comprehensive database of all establishments that practice industrial activities.
The project will help create new investment opportunities for manufacturers, investors and owners of industrial companies.
Saudi Arabia’s Al Rajhi bank reports a net profit of $4.58 bn in 2022
The net profit was up 16 percent from $3.92 billion in 2021.In a bourse filing, the bank attributed the rise in net profit to an increase in the total operating income by 11.12 percent.
The bourse filing said loans and advances in 2022 stood at 568.34 billion riyals, up 25.5 percent over 2021.
Adani fails to stem stock rout at Indian business empire
Mumbai, India--Gautam Adani's vast Indian business empire lost billions of dollars more in value on Monday after its rejection of...The slump was sparked by a report by Hindenburg Research that last week alleged "brazen stock manipulation and accounting fraud scheme over the course of decades".
The three-day selloff has now erased about $71 billion in market value, according to Bloomberg News. Last week Adani's firms recorded a slump of around $50 billion.
Philips to cut 6,000 jobs
It suffered losses caused by a recall of faulty sleep respirators.The Dutch company unveiled net losses of $114 million for the fourth quarter of 2022 and 1.6 billion euros for last year as a whole, largely due to the recall
Chief Executive Roy Jakobs said the company needed to improve performance and for that reduction in its workforce is required for 6,000 roles globally by 2025
More than 2,000 contestants to take part in Spinneys Dubai 92 Cycle Challenge
Dubai, UAE-- Over 2,000 cyclists from the UAE and overseas are expected to participate in the 13th edition of the...The cycling event will be organized on 19th February 2023 with the support of the Dubai Sports Council and the UAE Cycling Federation
The Spinneys Dubai 92 Cycling Challenge comprises an outrider race for amateurs with a short distance of 40 km
Indian Adani empire strikes back after fraud report
The slump in the company's stocks was sparked by a report by US short-seller investment group Hindenburg Research that alleged...Last week's slump saw Adani -- who is seen as close to Prime Minister Narendra Modi -- tumble from third on the Forbes real-time rich list
On Monday the 60-year-old was at 11th position in the ranking, which put his wealth at $90.7 billion, below fellow Indian tycoon Mukesh Ambani
Toyota stays top automaker
It retained lead over the rival Volkswagen for the third year.In spite of the chip shortage and Covid-related supply chain disruption, Toyota and its subsidiaries sold nearly 10.5 million vehicles last year
The automaker pioneered hybrid cars, but some critics say the company has been slow to make the shift to battery-powered engines even as demand soars
UAE’s EHS to showcase innovative health projects during Arab Health 2023
DUBAI, UAE - The Emirates Health Services (EHS) will showcase its 19 innovative healthcare projects during Arab Health Exhibition 2023,...Arab Health Exhibition is one of the largest forums that hosts major corporations, authorities and companies from all over the world.
The forum provides an opportunity to achieve the goals of national strategies and projects that seek to turn the UAE into a global hub for health care.
Boubyan Bank 2022 net profit $189m
The bank will pay 6 fils in cash and 6% in bonus shares.The total consolidated assets of Boubyan Bank Group increased to KD 7.9 billion at a growth rate of 7 percent.
The bank said the total of customers’ deposits grew by 6 percent to reach KD 6 billion, while the financing portfolio grew by 7 percent to reach KD 5.9 billion.
