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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.

  • Boeing wins $8 bn contract

    The US planemaker will manufacture 66 MAX aircraft.

    The deal comprises a firm order for 30 medium-haul single-aisle 737 MAX-8-200s plus options to purchase up to 36 more from the same family.

    The MAX jet suffered two deadly crashes in 2018 and 2019, but is experiencing a rush of interest at this year's Farnborough, southwest of London.

  • New business licenses in Dubai grow 25% in H1 of 2022

    Dubai issued 45,653 new business licenses in the first half (H1) of 2022, registering a growth of 25 percent compared...

    Dubai issued 45,653 new business licenses in the first half (H1) of 2022, a growth of 25 percent compared to the same period last year

    The numbers reaffirm the success of the government's innovative new strategic approaches and policy amendments

  • Dubai Metaverse Assembly in Sept to host 300 global experts

    The assembly will host more than 300 global experts, policymakers, thought leaders, and decision-makers from more than 40 organizations.

    The global event brings together regional and international experts in Dubai to shape the future of the metaverse.

    It explores how technology can be deployed across vital sectors to create better future and quality of life for humanity.

  • Zain Group Q2 net profit $165m

    The Group will pay a half-year dividend of 10 fils per share.

    Data Revenue grew 3 percent to represent 40 percent of Group Revenue for H1. Kuwait, KSA and Sudan record double-digit growth in revenue and net profit.

    The Group said it recorded 21 percent revenue growth in Enterprise business, as ZainTech enters many strategic partnerships.

  • Investments in Saudi startups grow by 244 percent in H1 2022

    Investments in Saudi startups grew by 244 percent to a record high of SAR 2.19 billion ($584 million) in the...

    In fact, the investments in the first half of 2022 surpassed the total investments in 2021, according to a report by the venture data platform, MAGNiTT.

    The report said the kingdom advanced to become the second-most active VC market in MENA by number of deals, which rose by 36 percent to 79 deals in H1 2022.

  • Delta orders Airbus jets

    The airline ordered a dozen single-aisle passenger jets worth $1.1 bn.

    Delta grabbed the headlines on the first day of Farnborough show on Monday with a $13.5-billion order for 100 medium-haul MAX jets built by Airbus rival Boeing.

    The Airbus announcement brings Delta's total firm A220 order to 107 of the aircraft.

  • Dubai energy demand shoots up by 6.3% in H1 of 2022

    Demand for energy in Dubai has shot up 6.3 percent to 23,096 GWh in the first half of the current...

    He said that the increase in energy demand in Dubai reflects the economic recovery and the return of key activities

    Dubai has benefited from the Fourth Industrial Revolution technologies and implemented robust precautionary measures to ensure business continuity

  • SAMI, Lockheed Martin sign pact

    A center for manufacturing composite materials will be set up in Riyadh.

    The center will be established with support from the General Authority for Military Industries, in an effort to enhance aircraft manufacturing capabilities in the kingdom.

    SAMI Composite Materials Limited and Lockheed Martin will evaluate and develop the center in several phases, in addition to developing national cadres.

  • Germany to partner with Egypt to build hydrogen economy

    Germany is looking to partner with Egypt to build the hydrogen economy as Europe seeks to diversify away from its...

    Scholz believes electricity and hydrogen will be the key to transforming industry in Germany

    He sees a big opportunity for countries like Egypt to supply hydgrogen to Germany

  • Equities slide in Asia as Apple report fuels economic worries

    Most stocks fell Tuesday after a Wall Street sell-off fueled by fresh recession worries following a report that Apple planned...

    The losses among equities ate into Monday's gains, which came after a forecast-beating US retail sales report suggested consumers remained resilient

    In a sign of concern among big-cap firms about an economic slowdown or recession, Bloomberg News said tech titan Apple was pulling back on hiring and some investments