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‘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.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

  • Iraq strikes deal with Iran to secure summer gas imports

    Iraq has agreed to pay $1.6 billion in debt to Iran by June 1 to secure a steady gas supply...

    Chronic underinvestment through decades of war and sanctions has left Iraq dependent on imports from its eastern neighbor for a third of its gas needs

    But US sanctions on Iranian oil and gas have complicated Iraq's payments for the imports, leaving it in heavy arrears

  • SABIC posts 33% rise in profit

    The chemical giant of KSA has posted SR6.47bn profit in Q4.

    The Riyadh-based company attributed the stronger results to higher average selling prices which were up 3 percent

    The company CEO said SABIC will remain focused on delivering its growth strategy

  • SoftBank posts record loss as tech shares nosedive

    Japanese investment giant SoftBank Group on Thursday logged a record annual net loss after a bruising year that saw its...

    In the past six months, the tech-rich US Nasdaq index has lost more than 28 percent of its value

    The Japanese group's losses were deepened by the many shares it holds in Chinese ride-hailing giant Didi Chuxing and e-commerce group Alibaba

  • Energy firms’ climate commitments lack credibility: report

    The climate commitments of global energy giants lack credibility as they rely on costly technologies that have yet to be...

    The research found that so far only four of the firms have made pledges that include a reduction in the emissions generated by the use of their products

    And only four have set 2030 reduction targets, which are important in driving quick progress and being able to evaluate progress

  • Siemens profits down in Q2

    Russia sanctions have cut the company's earnings by 600m euros

    Sanctions imposed on Russia following the invasion of Ukraine have cut Siemens' earnings by around 600 million euros

    The Munich-based conglomerate confirmed its full-year outlook, targeting growth in revenue of between six and eight percent

  • Air Arabia Q1 profit at $79.24m

    The profits were up 756% compared to $9.26 million in 2021.

    More than 2.4 million passengers flew with Air Arabia between January and March this year, across the carrier’s five hubs

    This marked an 86-percent increase compared to a total of 1.3 million passengers carried in the first quarter of last year

  • World’s biggest YouTuber PewDiePie moves to Japan

    The 32-year-old has a huge online following, with 111 million subscribers on YouTube, but has faced controversy over offensive jokes...

    PewDiePie has landed himself in hot water several times, including for videos containing anti-Semitic remarks and racial slurs

    In 2016, the YouTuber was temporarily blocked from Twitter after he joked that he had joined the Islamic State group

  • Google making smartwatch in ‘ambient’ computing push

    Google is also working on a Pixel tablet computer, which is expected to be released next year.

    Google will launch the Pixel Watch and a new premium Pixel 7 smartphone by the end of 2022, with pricing and other details to be disclosed closer to the launch

    Google's first Pixel smartwatch is expected to integrate health features from Fitbit, which Alphabet bought for $2.1 billion in 2021

  • Saudi Aramco overtakes Apple as world’s most valuable company

    The Saudi Arabian national petroleum and natural gas company, billed as the largest oil producing company in the world, was...

    Oil giant recently reported a 124 percent net profit surge for last year, hours after Yemeni rebels attacked its facilities causing a "temporary" drop in production

    Aramco president and CEO Amin Nasser cautioned that the company's outlook remained uncertain due in part to "geopolitical factors."

  • Creative sector woos global investors to Gulf region

    The regional economies in the creative sector are growing at a faster rate than inflation, says Michael Garin, General Director...

    The regional economies in the creative sector are growing at a faster rate than inflation, says Michael Garin, General Director of Abu Dhabi Creative Authority

    However, profound disruption of supply chains and the availability of critical materials in a timely manner remain a crucial challenge for the Gulf countries