Chinese auto giant BYD to integrate DeepSeek, broaden self-driving tech
BYD will install its "God's Eye" autonomous driving system in at least 21 models, including the Seagull budget hatchback priced...Business
Exclusive: Green investments lead to tangible returns, says WEF’s Philips
Public-private partnerships are essential for advancing sustainable urban development and meeting net-zero targets, Vivian Brady Phillips, Head of Strategic Initiatives,...Business Economy
Dubai Investments buys GFP stake
GFP secures nearly $60 million in equity financing to expand its network.GFP aims to create the leading fertility network in the region, and one of top 10 globally, according to a statement.
Saudi Arabia will be the focus of the investment. GFP’s facility in Riyadh is currently under construction and is due to commence operations later this year.
Hamad Al Marar is EDGE CEO
EDGE has a local and global orderbook of over $5billion.Al Marar succeeds Mansour AlMulla, who is returning to ADQ Group following a successful two-year managerial secondment to EDGE.
He will utilize his leadership skills and experience within the UAE’s defense industry to guide the group into the next phase of its evolution.
Qatar’s foreign merchandise trade surplus $5.13 billion in Dec 2023
Doha, Qatar - Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...The trade balance showed a decrease of about QR 9.5 billion, or 33.7 percent, compared to December 2022.
The YoY decrease was mainly due to lower exports of Petroleum Gases and Other Gaseous Hydrocarbons.
Ryanair quarterly profit dives 93%
The carrier flies mostly throughout Europe.The carrier, which flies mostly throughout Europe, said net profit slumped to 14.8 million euros ($16 million) in the final three months of 2023
Chief executive Michael O'Leary said Ryanair was narrowing its forecast for annual net profit to a range of 1.85 billion and 1.95 billion euros
DAE, Turkish Airlines ink pact
Turkish Airlines will take on lease 10 Boeing 737-8 aircraft.The aircraft are scheduled to be delivered in 2025.
DAE owns and manages 96 737 MAX family aircraft.
AD Ports launches Noatum Logistics Middle East
The firm said the new brand will replace MiCCO Logistics.The company said customers will be able to leverage Noatum’s global network of 16 terminals and 143 international offices, presence across 67 ports
The rebranded firm will embark on a rebranding campaign in the next few weeks, which will see its brand reflected across key assets and locations in the region.
QatarEnergy, Excelerate sign agreement
Under the 15-year deal, they will supply LNG to Bangladesh.Excelerate will purchase 0.85 MTPA of LNG in 2026 and 2027, and one MTPA from 2028 to 2040.
Qatar is the largest LNG supplier to Bangladesh and aspires to continue being the LNG supplier of choice for partners in the South Asia LNG markets.
Philips to halt sales of sleep machines in US
It posted losses to the tune of US$502m during the year 2023.The company said it had arrived at a "consent decree" deal with US authorities that consists of a "roadmap" of targets to allow Philips to conform with regulatory requirements
In November last year the US Food and Drug Administration warned that Philips new "DreamStation 2" machine that helps patients sleep risked overheating.
Iran and Turkey to set up free trade zone at border in Khoy city
Tehran, Iran--Iran and Turkey will join hands to set up a free trade zone at the border crossing in Khoy...The talks to establish the free trade zone were held between Iranian president Ebrahim Raisi and Turkish president Recep Tayyip Erdogan
An Iranian official said the large-scale investments of the two nations in this free trade zone can rebound the economy at a wider level
SAIF Zone signs MoU with Tokai Optical
The Japanese firm will lease a warehouse in the free zone.The leasing of the warehouse marks the first phase of Tokai Optical's expansion in SAIF Zone, representing an investment of around $2.17m
The firm figures among the top 5 lens manufacturers worldwide and is positioned among the top 3 companies in research and development
