Goldwind 2024 revenue up 12.5%
The clean energy giant posted $7.8bn in revenue for 2024.Company News Business
ADNOC L&S okays $273m dividend
The final dividend of $136.5m will be paid on April 3.Company News Business
ADNOC L&S 2024 net profit $756m
The company's revenue increased by 29 percent to $3.54 billion.EBITDA rose by 31 percent to $1.149 billion (AED 4.219 billion) in the same period, driven by robust performance across all business segments.
The Company's Q4 revenue increased by 6 percent year-on-year (y-o-y) to $881 million (AED 3.237 billion).
UAE to launch DeepSeek-inspired AI models: Faisal Al Bannai
Dubai, United Arab Emirates -- The United Arab Emirates is planning to launch new artificial intelligence models inspired by China's DeepSeek,...The UAE is betting big on the transformational technology as part of its push to diversify its economy away from fossil fuels.
The UAE launched Falcon in 2023, a large language model that compared favorably with industry leaders including OpenAI's ChatGPT.
ADNOC Distribution 2024 net profit down 7%
Minus UAE corporate tax, it would have grown by 2.4% to $725mThe company achieved its highest-ever (EBITDA) of $1.05 billion (AED3.86 billion), an increase of 4.8 percent year-on-year.
The company's Board of Directors has recommended a cash dividend of $350 million (AED1.285 billion) for H2 2024.
Altman rejects Musk’s US$97.4 billion bid to buy OpenAI, as feud continues
After receiving backing from his OpenAI board, Sam Altman informed an Elon Musk-led group of investors that sought to buy...Musk is suing OpenAI's restructuring plans from a non-profit to a for-profit
In a repartee, Altman offered to buy Twitter (X) for US$9.74 billion
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...The company also said it would integrate AI startup Deepseek's software into its cars, following domestic peers such as Geely, Great Wall Motors, and Leapmotor
BYD is Tesla's biggest rival in China and increasingly abroad, and Monday evening's announcement led analysts to suggest a new price war might be on the horizon
Government chiefs and tech leaders gather in Paris for AI summit
Political and tech industry leaders were set to descend on Paris Monday for a two-day summit on artificial intelligence, hoping...Macron announces US$113 billion investments in AI in coming years in France
China is opening an investigation into monopolistic practices by Google
Maaden raises $1.25bn in sukuk offering
The Sukuk were offered in a five-year and a 10-year tranche.The five-year tranche of $750 million consists of 3,750 Sukuk based on the minimum denomination and total issue size.
Maaden said the annual return on the five-year tranche is 5.25 percent and 5.50 percent for the 10-year tranche.
UAE announces top-up tax for multinational enterprises
Abu Dhabi, UAE - The Ministry of Finance has announced the issuance of Cabinet Decision No. 142 of 2024 on...The top-up tax will apply to entities that are members of Multinational Enterprises (MNEs) operating in the UAE with annual global revenues of €750 million or more
To bolster the UAE’s competitiveness as a leading investment hub, the top-up tax has been structured to exclude Investment Entities
Big Tech’s AI spending rattles markets
Amazon and big tech peers Microsoft and Google saw their stock prices fall on concerns over high AI investment costs....Meta's stock surged 18 percent in January as investors endorsed its AI strategy
Amazon forecasts 5-9 percent growth in Q1 2025, with sales between US$151 and US$155.5 billion
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,...Public-private partnerships are essential for advancing sustainable urban development and meeting net-zero targets, Vivian Brady Phillips tells TRENDS
Technology plays a crucial role in sustainability, enabling energy-efficient operations, smart city connectivity, and digital waste tracking
