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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.

  • Prince Alwaleed bin Talal now sees Musk as ‘excellent leader’ for Twitter

    Saudi investor Prince Alwaleed bin Talal, who initially spurned Elon Musk’s bid for Twitter, agreed to roll his $1.89 billion...

    On April 14, Alwaleed opposed Musk’s buyout bid saying the price offered by him did not come close to the intrinsic value of Twitter given its growth prospects.

    Alwaleed agreed to roll his $1.89 billion stake into the deal rather than cashing out.

  • TikTok to unveil ad revenue-sharing program for creators

    TikTok on Wednesday announced an ad revenue-sharing program with the social media platform's most prominent creators, moving closer to a...

    The short-video format app has become wildly popular in recent years with more than a billion active users globally

    Under the new TikTok Pulse program, companies can place their ads next to user content in specific categories, including health, fashion, cooking, gaming and others

  • Lufthansa cuts Q1 losses

    German carrier set its sights on a record summer for traffic.

    The airline group's net loss over the first three months of 2022 came to 584 million euros ($620 million)

    The number of passengers on Lufthansa flights "more than quadrupled" in the first quarter to 13 million

  • Sell seized Russian assets to rebuild Ukraine: EU chief

    The EU should confiscate and sell Russian assets it has seized and use the proceeds to rebuild war-scarred Ukraine, EU...

    The EU said early last month it had frozen 30 billion euros ($32 billion) in assets linked to blacklisted Russian and Belarusian individuals

    Last week, US President Joe Biden proposed oligarchs' seized assets be "sold off" to "remedy the harm Russia caused and to help build Ukraine"

  • AD Ports to develop Egypt projects

    AD Ports to develop, operate, and manage a terminal in Safaga seaport.

    Abu Dhabi Ports Group and Egypt's Red Sea Ports Authority sign a term sheet and a head of terms agreement for the development of these projects.

    AD Ports Group will also develop plans for cruise ships lines linking Abu Dhabi, Hurghada, Sharm El Sheikh and Aqaba.

  • Drone swarms can now fly autonomously through thick forest

    It's only a matter of a few years before we see such drones deployed in real-life work, said a roboticist...

    Swarms could be used during natural disasters as they do not rely on any outside infrastructure, such as GPS

    Pentagon expressed interest in carrying out its own tests on swarms that shows, it could be weaponized by militaries

  • TOP CEO to discuss post-Covid GCC business scene

    CEOs and market veterans from the region will review how the pandemic, which accelerated digital transformation, has given a competitive...

    CEOs and market veterans from the region will review how the pandemic, which accelerated digital transformation, has given a competitive edge to innovative businesses.

    The conference’s mission is to facilitate connections, generate growth opportunities, recognize the GCC's most prominent executives and allow participants to exchange ideas freely.

  • Egypt to launch project for capturing and storing carbon di oxide

    There will be a total of three projects on which Egypt and the Italian company Eni will work together.

    Egypt's Minister of Petroleum & Mineral Resources Tarek El Molla announced that investment cost of project is $25 million.

    The first project focuses on the extraction of 350,000 tons of algae oil annually to be used in biofuel production .

  • Record Airbnb bookings in Q1

    The firm says results signal travel rebound.

    Revenue in the first quarter was $1.5 billion, up 70 percent from the same period a year earlier, the company said.

    The booking platform has found traction around the globe, but is fighting various regulatory challenges in several jurisdictions.

  • Qatar records real estate transactions worth $57m from Apr 17-21

    Qatar recorded real estate transactions worth 207.8 million riyals ($57 million) during the third week of April, a decrease of...

    The deals in the third week include 32 vacant land deals worth 66.7 million riyals, accounting for 32 percent of the total value of the weekly transactions.

    The highest average price for residential properties was recorded in Doha Municipality, which witnessed the execution of six deals worth 36.05 million riyals.