Glencore 2023 profit down 75%
The company said lower energy prices cut into its profits.Company News Business
Woqod posts 10% profit rise
The firm's profit jumped to $294 million at the end of last year.The company said in a statement that the earnings per share amounted to QR 1.08 as of Dec. 31, 2022 versus EPS of QR 0.98 for the same period in 2021
Woqod CEO and Managing Director Saad Rashid Al Muhannadi attributed the increase in net profit and earnings per share to the increase in the volume of sales
Golden age of AI is underway and will redefine work: Microsoft CEO
Davos-Klosters, Switzerland-- Satya Nadella, Microsoft Chairman and CEO, believes that a golden age of AI is underway and will redefine...Nadella said that the future of work is not just about technology and tools but about new management practices
The cutting-edge chatbot ChatGPT is capturing the world’s imagination and the new artificial intelligence site amassed 1 million users in just five days after its recent launch
Musk-owned Twitter sells bird statue for $100,000 in auction
An online auction of "surplus corporate office assets of Twitter" that lasted slightly more than 24 hours also featured a...Musk in December said that severe cost cuts at Twitter had repaired the company's dire finances as he set out to find a new CEO for the social media giant
Musk said his strategy is to massively reduce costs while building up revenue, and that a new $8 subscription service called Twitter Blue would help with that goal
E-commerce registers 200 percent growth in GCC
The sector gains meteoric traction, largely due to structural shift in consumer interests and partly because of the pandemic-induced accelerated...E-commerce gains meteoric traction, largely due to structural shift in consumer interests and partly because of the pandemic-induced accelerated digitalization, says an expert
The retail industry in the UAE is projected to develop at a compound annual rate of 5.1 percent from 2022 to 2026, reaching US$ 113.8bn, says an Alpen Capital report
Microsoft to lay off 10,000 workers as economic gloom deepens
The tech giant will lay off some 10,000 employees in the coming months as the economic downturn continues to punish...The layoffs were "in response to macroeconomic conditions and changing customer priorities," the maker of the Windows operating system said in a US regulatory filing
It already made two rounds of layoffs, one in July, which affected less than one percent of the workforce, and a second one in October that targeted less than one thousand
A true leader embraces meritocracy, shuns nepotism, says Vision 3 head Khalid Abdulla-Janahi
Khaled Abdulla-Janahi , an international Arab thought leader, feels strongly about changing the traditional perception encompassing the concept of leadership.Khaled Abdulla-Janahi , an international Arab thought leader, feels strongly about changing the traditional perception encompassing the concept of leadership
Before the book was done, Khalid said, he worked and collaborated closely with a few people to look into leadership attributes.
Geopolitical instability may lead to catastrophic cyberattack: Report
Over 93 percent of cybersecurity experts and 86 percent of business leaders believe “a far-reaching, catastrophic cyber event is likely...The Global Cybersecurity Outlook 2023 findings were based on surveys, workshops and interviews with over 300 experts and C-suite executives.
Half of the companies surveyed said the current landscape is making them re-evaluate the countries in which their organization does business.
Work begins on world’s first fully sequestered CO2 injection project
The project, which is expected to begin injecting CO2 in the second quarter of this year, will initially fully sequester...The CO2 injection well project builds on ADNOC's experience with its carbon capture facility at Al Reyadah, which has the capacity to capture up to 800,000 tons of CO2 per year.
The project will also be monitored and assessed, using advanced technology at ADNOC's Thamama Digital Centre of Excellence, ADNOC said.
TA’ZIZ signs ammonia agreement
The pact was signed with Fertiglobe, GS Energy and Mitsui & Co.Low-carbon ammonia is made from hydrogen derived from natural gas feedstocks and nitrogen, with the carbon dioxide produced captured and stored.
The total investment in the first phase of TA’ZIZ will be in excess of $5 billion (AED18 billion), with most of the chemicals produced to be created in the UAE for the first time.
Microsoft to cut staff
The computer industry stalwart has some 220,000 workers.The computer industry stalwart could announce layoffs in its engineering divisions as early as Wednesday
Wedbush is expecting staff cuts of another 5 to 10 percent across the tech sector, Ives told investors
