$2.65bn in contracts signed during first two days of IDEX and NAVDEX 2025
Abu Dhabi, UAE -- Tawazun Council, UAE's authority responsible for managing acquisitions, procurement, and contracts on behalf of the Ministry...Business
OpenAI board rejects Elon Musk-led $97.4 billion buyout offer
San Francisco, United States -- OpenAI's board chairman on Friday said it has unanimously rejected an Elon Musk-led offer to buy...Technology Business
Dubai records over US$2.6bn in weeklong real estate transactions
DUBAI, UAE - A total of 3,543 real estate transactions worth over US$2.6 billion (AED9.8 billion) were conducted during the...A total of 3,543 real estate transactions worth over US$2.6 billion were conducted during the week ending February 9, 2024.
A DLD report showed that 197 plots were sold for $315 million while 2,572 apartments and villas were purchased for $1.5 billion.
European stocks firm as markets await US inflation data
London, United Kingdom - Europe's main stock markets steadied Friday as traders reacted to more earnings updates from top companies, while...Asia saw holiday-thinned trade, with investors there struggling to build on another record-setting day on Wall Street.
While China is in holiday mode, investors are keeping tabs on Beijing, hoping for fresh measures to boost market confidence.
Rumors swirl over bitcoin inventor Nakamoto’s identity
London, United Kingdom - An Australian man went on trial in London this week over his claims of inventing bitcoin --...Computer scientist Craig Wright, 53, says he is "Satoshi Nakamoto", the pseudonym of bitcoin's creator and author of a white paper that introduced the cryptocurrency to the world
He is being sued by cryptocurrency activists who say he's lied and forged documents in his attempts to pretend he is bitcoin's founder.
Aldar net profit $1.19bn
Expanded investment and record development sales boosted profit.Aldar reported the highest-ever quarterly development sales of AED 8.5 billion in Q4, with full-year sales hitting a record AED 27.9 billion.
Development revenue backlog doubled to AED 36.8 billion, providing strong income visibility over the next two to three years, Aldar said.
AI game gains popularity during Chinese New Year festivities
SHANGHAI, CHINA - Young Chinese flocking home for Lunar New Year this weekend have turned to an AI chatbot game to...The new game uses an AI chatbot to simulate the barrage of squirm-inducing questions young people can expect to face.
The annual inquisition as extended families gather for China's biggest festival is a cultural touchstone across the country.
Barclays bank to stop financing new oil, gas projects
London, United Kingdom -- British bank Barclays said Friday it would stop directly financing its energy clients' new oil and gas...The bank added it would scale back lending for existing fossil fuel projects as the sector faces intense pressure from activist investors to help tackle climate change.
The British lender's move to curb financing of oil and gas projects follows similar announcements from European bank heavyweights BNP Paribas, Credit Agricole, HSBC and ING.
Etihad Atheeb 9M profit $47m
Higher revenues from various segments boosted profit.Allowance for impairment in trade receivables and finance charges (FCs) declined during the same period, Argaam reported.
On a quarterly basis, the telecom operator's third quarter leapt from SAR 47.9 million in Q2 2023/24.
DMCC witnesses 10 percent rise in US companies in 2023
DUBAI, UAE – DMCC successfully concluded its most recent Made for Trade Live tour of the US, hosting events in...DMCC sees opportunity for American businesses in Dubai after the success of the latest Economic Policy Dialogue held between the US and UAE
The events saw 100 American executives attend in which speakers advised on the opportunities on offer to American businesses in the UAE
Aramex Q4 net profit doubles
The firm reported a marginal YoY decline in Q4 revenue.Aramex said the revenue growth in International Express was offset by the decline in revenues from other products.
The company posted a 2 percent YoY growth in gross profit for Q4 2023, reaching AED 389 million and remained stable for the full year.
Hermes profit soars 28 percent
The luxury giant posted a profit of US$4.6bn in 2023.The company will disburse a 4,000-euro bonus to all employees early this year as part of "its policy of sharing the fruits of growth"
Its sales climbed 14.5% in Japan and 12.9% in the rest of the Asia-Pacific region, with the group opening its 33rd store in China
