Emirates Islamic Q1 profit $394m
The bank's profit crossed AED 1bn mark for the first time.Company News Business
Gold hits record, dollar drops as tariff fears dampen sentiment
With several markets still closed for the Easter holiday, business was limited ahead of a week that will see the...Business Economy
DEWA okays $843m in H2 2024 dividend
DEWA had posted a net profit after tax of $1.96 billion for the full year 2024.It reported consolidated full-year revenue of AED 30.98 billion and EBITDA of AED 15.73 billion for 2024.
It said the consolidated annual revenue grew by 6.17 percent, primarily driven by rising demand for electricity, water, and cooling services.
Chinese electric car maker BYD aims for Europe boost
Chinese carmaker BYD on Thursday vowed to conquer Europe with a new compact electric model and super-fast charging capability to...The group has launched major advertising campaigns including sponsorship of last year's European Championships in football
The European Union has imposed a 17-percent tariff on Chinese electric vehicles to make up for Chinese state subsidies
Saudi table egg production crosses 8 billion, achieves 100% self-sufficiency
Riyadh, Saudi Arabia -- Saudi Arabia's poultry sector has reached complete self-sufficiency in table egg production, with output surpassing 8...Saudi agriculture ministry said the kingdom's egg production not only meets domestic demand but also generates a surplus, reinforcing national food security.
The ministry also emphasized its commitment to enhancing food quality, safety, and availability across local markets.
ADQ and US equity firm ECP to invest $25bn in data center energy projects
Dubai, UAE -- Abu Dhabi sovereign wealth fund ADQ has partnered with the American private equity firm Energy Capital Partners...Though the partnership’s primary focus will be the USA, a portion of the capital may also be allocated towards opportunities in selected other international markets.
The combined initial capital contribution from the partners is expected to amount to $5 billion.
Dar Alarkan 2024 profit up 32%
The company's net profit increased by 81.5 percent in Q4 2024.Argaam reported that the company's revenue increased by 38.9 percent year-on-year (YoY) to SAR 3.75 billion in 2024 driven by higher real estate sales and rental income.
The company attributed the increase to stronger sales revenue, supported by higher property sales, along with growth in rental income.
Deepfakes can clone your voice in 5 seconds, tech firms mount defense
Las Vegas, United States -- Tech firms are fighting the scourge of deepfakes, those deceptively realistic voices or videos used...Hong Kong police recently revealed that a multinational firm employee was tricked into wiring $26m to crooks who staged a videoconference with AI avatars of his colleagues.
A recent study by identification start-up iBoom found that a scant tenth of one percent of Americans and Britons were able to correctly tell when a picture or video was a deepfake.
ADNOC Drilling approves $788m dividend
The final cash dividend of $394m for 2024 was approved at the AGM.The dividend will be paid on or around 11th April 2025, to all shareholders of record as of 27th March 2025.
ADNOC Drilling’s full-year revenue increased significantly to a record $4.034 billion, rising by 32 percent year-on-year.
Geopolitical tensions buffet markets, gold and oil prices climb
Gold and oil prices climbed on fears of escalating tensions in the Middle East after Israel launched its most intense...Wall Street opened lower but European stocks rose in afternoon trading as investors prepared for German lawmakers to vote on a massive spending boost for defense and infrastructure
Investors are eyeing this week's policy decisions from the US Federal Reserve, Bank of Japan and Bank of England, with all three forecast to stand pat on interest rates.
Google says to buy Wiz for $32 bn
The all-cash deal brings Wiz into the Google Cloud operation.The deepening influence of AI makes "cybersecurity increasingly important in defending against emergent risks and protecting national security," the companies said.
The transaction, the largest ever sought by Google or parent Alphabet, will test Trump's openness to large takeovers after resistance to such deals by Biden's administration.
Nvidia showcases AI chips as it shrugs off DeepSeek
San Francisco, United States - Nvidia chief Jensen Huang is expected to showcase cutting-edge chips for artificial intelligence (AI) and...Industry watchers expect Huang to spotlight Nvidia's latest Blackwell line of graphics processing units (GPUs), including new updates in the works
The AI boom propelled Nvidia stock prices to stratospheric levels until a steep sell-off early this year triggered by the sudden success of DeepSeek
