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TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.

QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Etihad reports record Q1 profit

Total revenue increased by $269 million in the same period.

Aramco Q1 profit down 14.5%

Despite lower profit, it will pay $31bn in dividends to Saudi government.
  • An output cut of one million barrels per day (bpd) was being discussed at OPEC+, sources said before the announcement. Credit: Pixabay

    UAE exports 31.3m barrels of crude oil to Japan in February

    Tokyo, Japan--The UAE exported 44.1 percent, namely 31.3 million barrels, of Japan's crude oil needs in February 2024, according to...

    Japan bought nearly 71 million barrels of oil for February and 96.7% of that came from five Arab countries

    The rest of Japan’s oil imports came from Asia (0.4%), Central and South America (1.7%), and the US (1.1%)

  • Rotana announces the soft opening of Dar Rayhaan in Saudi Arabia

    Abu Dhabi, UAE – Rotana, one of the leading hotel management companies in the region with over 100 properties in...

    This is in line with Rotana’s ambitious goal of launching eight properties in Saudi Arabia.

    Dar Rayhaan by Rotana offers 133 keys, including 113 rooms and 20 suites,

  • Omantel approves cash dividend

    Net profit grew by 13.1 percent compared to 2022

    Omantel continued to successfully implement its strategy Shift Gear despite market challenges and increasing competition.

    Omantel Group revenues and profits, as the group's revenues were up by 9.7percent

  • Global football stars choose Red Sea destination for holiday

    TABUK, SAUDI ARABIA – A few days ago, the Red Sea destination hosted several international football stars from Saudi Pro...

    Among the football stars were Cristiano Ronaldo, Fabinho Tavares, Roger Ibanez and Roberto Firmino.

    They also engaged in various water sports and marine activities, making the most of their time.

  • Digital transformation fuels GCC banks’ growth

    The banking sector across the GCC has demonstrated formidable growth and profitability, with Qatar leading in several key performance indicators,...

    Notably, Qatar National Bank (QNB), the titan among GCC banks in terms of assets, received an uplift in its long-term credit rating from A to A+. 

    The region has also seen a notable increase in profitability, with a significant double-digit rise of 23.1 percent, driven largely by growth in loan books.

  • Jordan exports pharmaceutical products worth US$874m in 2023

    AMMAN, JORDAN – Products of the Kingdom’s pharmaceutical industries and medical supplies sector moved over the past quarter century to...

    Jordan’s pharmaceutical and medical supplies sector has succeeded in transforming into a global industry.

    The pharmaceutical and medical supplies sector employ approximately 10,000 workers.

  • Sheikh Hamdan praises ADNOC’s efforts in using AI in production process  

    ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the...

    Sheikh Hamdan toured key facilities and operations, learning about the company's efforts to leverage AI.

    Sheikh Hamdan emphasized on the importance of Emirati women's participation across various sectors.

  • Microsoft, AI to set up data-center project

    It will cost US$100bn and will include an AI supercomputer.

    As per a media report, Microsoft would be responsible for financing the project, which would be 100 times more costly than some of the biggest current data centers

    OpenAI's next major AI upgrade is expected to land by early next year, the report said, adding that Microsoft executives are looking to launch Stargate as soon as 2028

  • OpenAI unveils voice-cloning tool

    It can essentially duplicate someone's speech.

    OpenAI model called "Voice Engine" can essentially duplicate someone's speech based on a 15-second audio sample, according to the San Francisco-based company

    We have implemented a set of safety measures, including watermarking to trace the origin of any audio generated by Voice Engine, OpenAI said

  • UAE and Kenya sign agreement to enhance digital, tech cooperation

    Abu Dhabi, UAE--The UAE and Kenya have signed an investment memorandum establishing a framework for investment cooperation in digitalisation and...

    The cooperation between the two countries could also include developing data centre projects with a total capacity of up to 1,000 megawatts

    The African country is also becoming a preferred investment destination for data centre providers, with the growing demand for cloud services