Tesla approves $29 bn in shares to Musk as court case rumbles on
Washington, United States -- Tesla announced an "interim" compensation award worth about $29 billion for Elon Musk on Monday, asserting...Business
Saudi Arabia’s real GDP up by 3.9 percent in Q2 2025: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia's real Gross Domestic Product (GDP) grew by 3.9 percent in the second quarter of...Business Economy
Tesla stops production at German plant after suspected arson attack
Michael Stuebgen, interior minister for Brandenburg state, said that "if initial findings are confirmed, this is a perfidious attack on...Emergency services were called to reports of a burning electricity pylon southeast of Berlin in the early hours, in the area the factory is located
But it knocked out power to the Tesla factory, as well as surrounding villages, and police have launched an investigation into suspected arson
TECOM 2023 net profit $299m
Revenue in 2023 grew by 10 percent YoY to $599 million.The approved cash dividend payment is in line with the dividend policy set out in the IPO prospectus
TECOM Group committed to paying a dividend amount of $217 million per annum through September 2025.
Food dispatch app Uber Eats launches robot deliveries in Tokyo
Uber Eats' boxy robots have square headlights for eyes and three wheels on each side to navigate kerbs as they...Starting Wednesday, robot deliveries will be offered in a small area of the city by the US-based food app, which hopes to eventually roll out the service more widely in Japan
Japan changed traffic laws last year to allow delivery robots on public streets and other companies including Panasonic are also trialing cute new machines to transport goods
ADNOC partners with Viola Communications
They will utilize outdoor media-leasing spaces for advertising.Viola will set up and operate outdoor media advertising solutions on ADNOC assets in strategic locations across the capital
The company's diverse assets are expected to boost the local business ecosystem and introduce innovative revenue streams
JetBlue, Spirit Airlines cancel merger
Earlier, a federal judge ruled it violated US antitrust law.Shares of Spirit slumped 14.5 percent in early trading Monday, while JetBlue rose 3.9 percent
Spirit said it has enlisted advisors on efforts to refinance and reduce debt payments
UAE F&B sector set to soar, projected to reach $20bn in 2024
Dubai, UAE - The UAE’s foodservice market is poised to reach $19.98 billion in 2024, with further projections indicating a substantial...The report emphasizes the robust expansion of the F&B sector, forecasting a compound annual growth rate (CAGR) of 17.09%
Fine dining is experiencing substantial growth with annual increases of almost 20% in Dubai and 33% in Abu Dhabi
American Airlines orders 260 jets
It is part of the airlines' effort to 'modernize' its fleet.The airline said in a statement that the order comprises 260 new planes, plus options for an additional 193 aircraft
Its CEO said the airline has invested heavily to modernize and simplify its fleet, the largest among US network carriers
Middle East commercial aircraft services market to grow to US$28bn
Abu Dhabi, UAE--The MENA region's commercial aircraft services market will more than double in value by 2042, according to Airbus’...Dubai and Abu Dhabi are among five of the world's largest aviation cities in the Middle East, serving more than 10,000 long-haul passengers per day
The regional expansion will surpass the global average growth of 3.6 percent, and register a 4.4 percent average annual growth by growing to $28bn
European Union slaps $1.9bn fine on Apple over violation of rules
Brussels, Belgium - The EU on Monday hit Apple with a more than 1.8-billion-euro fine ($1.9 billion) for violating the bloc's...The $1.9 billion penalty is the third-biggest antitrust fine ever imposed by the European Commission
The iPhone maker immediately vowed to appeal the first ever antitrust fine slapped on Apple by Brussels
EDGE Group, Indra form JV
It will make next-generation radar systems in UAE.The new business entity will be granted prime rights for current and future non-NATO and non-EU orders awarded to Indra.
The JV will place a strategic focus on the continued development of sophisticated technologies, innovation and global market.
