Amazon tycoon Jeff Bezos, his fiancee Lauren Sanchez arrive in Venice for lavish wedding
Bezos, 61, and Sanchez, 55, are said to have booked out the city's finest hotels for a star-studded guest list...Business
Aldar nets $953m in sales at Fahid
Aldar said 42 percent of the buyers are under the age of 45.Company News Business
Nvidia unveils plan for Taiwan’s first ‘AI supercomputer’
Taipei, Taiwan -- Nvidia boss Jensen Huang announced plans for Taiwan's first "AI supercomputer", as he showcased on Monday the...Taiwan produces the bulk of the world's most advanced chips, including those needed for the most powerful AI applications and research.
TSMC, the Taiwanese contract chipmaking giant, has unveiled plans to inject an additional US$100 billion into the United States, on top of the US$65 billion already pledged.
Qatar Airways annual profit $2bn
This was a record 28% jump in annual net profit.Qatar Airways Cargo, the group's air freight service, saw revenues increase by 17 percent on the year before, the airline said.
In 2024, the Qatari airline reported a $1.7 billion net profit following an annual increase of 39 percent, another record.
General Gulf inflation rate logs 1.7% by end of Dec 2024
Muscat, Oman -- The general inflation rate in the GCC countries rose by 1.7 percent at the end of December...The increase is primarily driven by a 5.9 percent increase in housing prices and a 2.8 percent rise in the prices of goods and services.
The culture and entertainment group recorded a 1.8 percent increase, while both the food and beverages group and the education group rose by 1.2 percent each.
EGA advances plans to build new US aluminum plant
Abu Dhabi, UAE -- Emirates Global Aluminum, the largest ‘premium aluminum’ producer in the world, today announced the progression of...The plant is expected to have a production capacity of 600 thousand tons of primary aluminum per year.
Some 85 per cent of the aluminum needs of American industries, from automotive to aviation and construction, are currently met by imports.
US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...The broad-based S&P 500 added 0.1 percent at 5,923.30, while the tech-rich Nasdaq Composite Index gained 0.2 percent to 19,146.48.
Broadband and cable company Charter Communications gained 2.5 percent after announcing a deal to acquire Cox Communications for $34.5 billion.
Masdar issues $1bn bond
Its green bond program hits $2.75 billion.The bond was issued in two equal tranches of US$500 million, with tenors of 5 and 10 years and coupons of 4.875% and 5.375%.
The bond attracted significant oversubscription with a peak orderbook of US$6.6 billion.
Trump says urged Apple to manufacture in US not India
Doha, Qatar - US President Donald Trump said Thursday he urged Apple to manufacture its products in the United States...Trump said he told Cook: "We're not interested in you building in India... we want you to build here and they're going to be upping their production in the United States"
Apple announced in February it would invest more than $500 billion in the United States over the next four years and promised to hire 20,000 people in the country
OpenAI abandons plan to become for-profit company
San Francisco, United States - OpenAI CEO Sam Altman on Monday said the company behind ChatGPT would continue to be...The issue had become a serious point of contention for the artificial intelligence trailblazer, with major investors demanding the change to better guarantee returns
But AI critics worried about the dangers of pursuing big profits on such powerful technology without the oversight of a nonprofit board of directors who acted in society's interest
Luberef net profit falls 7% in Q1
A fall in by-products sales leads to profit dip.This is in addition to a decrease in by-products crack margins, despite an increase in base oil crack margins.
Total shareholders’ equity, no minority interest, stood at SAR 4.07 billion as of March 31, 2025.
SABIC net loss $322 million
The company's net profit was $66m in Q1 2024Losses were driven by a SAR 1.05 billion drop in gross profit on higher feedstock prices.
On a sequential basis, net loss shrank from SAR 1.89 billion in Q4 2024.
