Billionaire Bezos announces restrictions on Washington Post opinion coverage
Washington, United States - The Washington Post will no longer run views opposed to "personal liberties and free markets" on...Business
Saudi Arabia’s sports fund invests in DAZN streaming service
Paris, France - Saudi Arabian sports investment fund SURJ, linked to the kingdom's sovereign wealth fund, has acquired a minority stake...Business Geostrategy Sports
Mawani completes Red Sea Gateway Terminal at Jeddah Islamic Port
Riyadh, Saudi Arabia - The Saudi Ports Authority, Mawani, announced the completion of the Red Sea Gateway Terminal at Jeddah...The gateway terminal has larger capacity, is equipped with the Optical Character Recognition (OCR) feature, and uses 146 different types of equipment
The development of Jeddah Islamic Port’s North Container Terminal is included in the Build-Operate-Transfer (BOT) contract
Tenaris sets up base in Abu Dhabi
The global pipe maker invested US$60m in the business.The new complex is expected to generate technical and administrative job opportunities for UAE nationals
The newly built complex represents the first of its kind in the UAE to thread full-length premium connections
AI in the Middle East: From potential to profit
The region is making significant strides in integrating AI into various sectors, promising substantial productivity gains and innovation, a latest...The region is making significant strides in integrating AI into various sectors, promising substantial productivity gains and innovation, a latest report points out.
The Boston Consulting Group report reveals that 61% of Middle Eastern executives anticipate over 10 percent productivity gains from AI and GenAI in 2024.
Americana Restaurants posts profit.
The annual net profit in 2022 was US$470 million.The company demonstrated resilient performance, despite US$106 million impact of unfavorable foreign exchange movements.
Adjusted EBITDA increased to $550.8 million, reflecting a 2.8 percent growth year-on-year with a healthy adjusted margin of 22.8 percent.
QEWC 2023 net profit US$426m
QEWC market share in supply of electricity was 61 percent.The earnings per share amounted to US$0.38 (QR 1.41) as of December 31, 2023.
QEWC reported revenue of $799 million in 2023 compared to $747 million in 2022.
Google AI research hub in Paris to host 300 experts
The new hub part of a trend for big tech firms to base teams in European centers.In recent years, Google has poured investment into its engineering facility in Zurich, which also houses AI-focused teams from Meta, Apple and Microsoft.
The French capital has long pushed to be regarded as a cutting-edge hub for tech firms, and Meta established an AI research team there in 2015
Commerzbank net profit $2.4bn
This is the bank's biggest net profit in 15 years.The lender said it had "benefited from strong customer business and persistently high interest rates".
Like other European lenders, Commerzbank was boosted by the European Central Bank's unprecedented streak of rate hikes last year, aimed at taming red-hot inflation
ATO partners with ISM to boost tourism in the Middle East
Jeddah, UAE--The Arab Tourism Organization (ATO) has signed a partnership agreement with the International Strategic Management (ISM) company to achieve...The ISM will collaborate with the ATO to achieve its goals, harmonizing them with the Arab League's Sustainable Development Plan
The partnership between the ATO and ISM will enable the Arab countries to develop tourist destinations to achieve sustainable development
US allies warn Israel against ‘catastrophic’ Rafah operation
The leaders of Australia, Canada and New Zealand on Thursday warned Israel against a potentially "catastrophic" ground offensive in the...In the face of mounting international pressure and a death toll that Gaza authorities say has now topped 28,000, Netanyahu has vowed to press ahead
Netanyahu has promised Israeli forces will soon conduct a "powerful" operation in Rafah -- a city filled with countless Gazans displaced by fighting elsewhere in the territory
Airbus profit drops 11 percent
The group plans to deliver "around 800" aircraft in 2024.The group said it had received orders for 2,094 aircraft in 2023, beating a previous record dating back to 2013
Group revenues increased by 11 percent to 65.4 billion euros, with commercial aircraft revenues increasing 15 percent
