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TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.
  • ‘Most IT security officials believe firms threat strategy poor’

    A global survey conducted among 2,100 IT Security Decision Makers (ITSDMs) reveals that 60 percent of respondents believe their organizations...

    Only 16 percent of respondents in the UAE and Saudi Arabia say they are able to keep pace with the threat landscape

    Most organisations (91 percent) surveyed in the UAE and Saudi Arabia experienced identity-related security breach in the past 18 months.

  • NMDC, James Fisher sign MoU

    They will collaborate on key oil and gas projects.

    The two groups will focus initially on exclusive diving projects in the Middle East and turnkey decommissioning opportunities in the North Sea and internationally.

    They will develop a series of collaborative joint ventures and consortia to deliver major projects across multiple sectors, markets, and geographies.

  • Aldar acquires Doubletree

    DoubleTree by Hilton Resort & Spa Marjan Island is a beachfront resort.

    The property, which benefits from above-market average occupancy levels, is located on the first section of Al Marjan Island, a growing tourism hub.

    Aldar now has a total of over 4,250 keys, and brings Aldar’s total investment in Ras Al Khaimah to AED2 billion.

  • Komainu set to bring digital asset custody services to Dubai

    The Government of Dubai’s Virtual Assets Regulatory Authority (VARA) on Wednesday granted provisional regulatory approval to Komainu.

    The Government of Dubai’s Virtual Assets Regulatory Authority (VARA) on Wednesday granted provisional regulatory approval to Komainu

    Komainu acts as a key gatekeeper to institutions gaining exposure to the digital asset industry with the provision of secure and regulated digital asset custody services

  • ADNOC awards $2bn in contracts

    The contracts were awarded to ADNOC Drilling.

    The contracts comprise $1.3 billion (AED4.89 billion) for integrated drilling services and fluids and $711 million (AED2.6 billion) for providing four Island Drilling Units.

    A third contract, valued at $681 million (AED2.5 billion), was also awarded to ADNOC Logistics & Services for providing offshore logistics and marine support services.

  • Israel’s Teva reaches potential $4.25 bn US opioid settlement

    If the deal is finalized, Teva would become the latest major company to reach a settlement over the crisis which...

    If the deal is finalized, Teva would become the latest major company to reach a settlement over the crisis which caused hundreds of thousands of deaths across the country

    Teva reached the potential agreement on the terms of a "nationwide opioids settlement" with a working group of state attorneys general and lawyers for Native American tribes

  • Microsoft earnings fall

    The poor performance result of sagging demand.

    The US technology giant reported profit of $16.7 billion on revenue of $51.9 billion, topping the same quarter a year earlier but missing market forecasts.

    The earnings stumble was due mostly to foreign exchange rates and shutdowns of personal computer factories in China

  • Greece to get ‘cheaper energy’ from Saudi Arabia

    A power cable between the Kingdom and Greece to provide Europe with 'cheaper renewable energy' is one of the several...

    A power cable between the Kingdom and Greece to provide Europe with 'cheaper renewable energy' is one of the several bilateral projects between the two countries

    A strategic partnership has also been announced between the private sectors in the two countries to build a data cable project linking the East and the West

  • Rolls-Royce picks new CEO

    Tufan Erginbilgic replaces Warren East from the start of 2023.

    East is stepping down after a tumultuous eight years in the top role during which time he turned around performance and slashed thousands of jobs.

    Erginbilgic left the British energy major in 2020 and is a partner at private equity firm Global Infrastructure Partners.

  • Deals in focus as Saudi crown prince visits Europe

    Mohammed bin Salman, who is visiting Greece and France, will meet the leaders of both countries 'to discuss bilateral relations...

    Mohammed bin Salman, who is visiting Greece and France, will meet the leaders of both countries 'to discuss bilateral relations and ways to enhance them in various fields'

    Greek and Saudi private business groups are expected to sign agreements in the fields of maritime transport, aquaculture, waste management, culture, food and agricultural products