Samsung TV pioneer Han Jong-hee dies of heart attack at 63
Samsung Electronics co-CEO Han Jong-hee, credited with boosting the South Korean tech giant's television business on the global stage, died...Business
Al Ansari approves $85m dividend
This is approx 78% of the company's net profit after tax.Company News Business
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
WSG has ushered in a new decade of positive impact: Hamid Al Zaabi
Dubai, UAE-- The World Governments Summit (WGS) has ushered in a new decade of positive impact, inspiring governments and societies...Al Zaabi said digital transformation has become a reality and threats from the transition affect the economic and social security of countries
He said the anti-money laundering office has enhanced the fight against financial crimes and protects the nation's economic security
ADNOC L&S profit spikes 138%
Its revenue jumped 41% to US$748 million in 2023.The company reported 93% hike in EBITDA to $876 million (AED3,217 million) as all business segments continued to perform strongly
Its board of directors recommended distributing a cash dividend of $130m, equivalent to 6.45 fils per share, for the second half of 2023
