New WEF report reveals how tech convergence will reshape industries
Geneva, Switzerland – The World Economic Forum today released a new report examining how emerging technology combinations are reshaping industries...Technology Technology Business Economy Geostrategy
Oil under $65 a boon for consumers, but a burden on producers
London, United Kingdom -- US President Donald Trump's tariffs, his call to "drill baby drill" and especially a decision by...Business Economy
Polestar 3, the electric SUV, hits the streets of the UAE
Dubai, UAE – Al-Futtaim Electric Mobility Company, the official distributor of Polestar in the UAE, have announced the official launch...Featuring a unique design language inspired by Polestar Precept and Scandinavian minimalism, Polestar 3 is a fully electric 5-seat luxury SUV
Polestar 3 is available at launch with a dual-motor configuration with a power bias towards the rear, and an optional Performance Pack for increased power and torque
61 contracts worth $7billion signed at World Defense Show in Riyadh
Riyadh, Saudi Arabia - About 61 purchase contracts totaling approximately SR26 billion ($6.93 billion) were signed at the second World...The event, featuring 773 exhibitors and hosting 441 official delegations from 116 countries, attracted 106,000 visitors
Throughout the show, a total of 73 agreements were finalized, including 17 industrial partnership agreements
At 10% growth, Saudi banking sector shows resilience
With Vision 2030 steering the economic diversification, Saudi banks face challenges and opportunities in liquidity, asset quality, and navigating geopolitical...With Vision 2030 steering the economic diversification, Saudi banks face challenges and opportunities in liquidity, asset quality, and navigating geopolitical risks.
The sector's commitment to sustainability and strategic risk management promises a future of stability and growth, highlights the latest insights from S&P Global.
Dubai records over US$2.6bn in weeklong real estate transactions
DUBAI, UAE - A total of 3,543 real estate transactions worth over US$2.6 billion (AED9.8 billion) were conducted during the...A total of 3,543 real estate transactions worth over US$2.6 billion were conducted during the week ending February 9, 2024.
A DLD report showed that 197 plots were sold for $315 million while 2,572 apartments and villas were purchased for $1.5 billion.
European stocks firm as markets await US inflation data
London, United Kingdom - Europe's main stock markets steadied Friday as traders reacted to more earnings updates from top companies, while...Asia saw holiday-thinned trade, with investors there struggling to build on another record-setting day on Wall Street.
While China is in holiday mode, investors are keeping tabs on Beijing, hoping for fresh measures to boost market confidence.
Rumors swirl over bitcoin inventor Nakamoto’s identity
London, United Kingdom - An Australian man went on trial in London this week over his claims of inventing bitcoin --...Computer scientist Craig Wright, 53, says he is "Satoshi Nakamoto", the pseudonym of bitcoin's creator and author of a white paper that introduced the cryptocurrency to the world
He is being sued by cryptocurrency activists who say he's lied and forged documents in his attempts to pretend he is bitcoin's founder.
Aldar net profit $1.19bn
Expanded investment and record development sales boosted profit.Aldar reported the highest-ever quarterly development sales of AED 8.5 billion in Q4, with full-year sales hitting a record AED 27.9 billion.
Development revenue backlog doubled to AED 36.8 billion, providing strong income visibility over the next two to three years, Aldar said.
AI game gains popularity during Chinese New Year festivities
SHANGHAI, CHINA - Young Chinese flocking home for Lunar New Year this weekend have turned to an AI chatbot game to...The new game uses an AI chatbot to simulate the barrage of squirm-inducing questions young people can expect to face.
The annual inquisition as extended families gather for China's biggest festival is a cultural touchstone across the country.
Barclays bank to stop financing new oil, gas projects
London, United Kingdom -- British bank Barclays said Friday it would stop directly financing its energy clients' new oil and gas...The bank added it would scale back lending for existing fossil fuel projects as the sector faces intense pressure from activist investors to help tackle climate change.
The British lender's move to curb financing of oil and gas projects follows similar announcements from European bank heavyweights BNP Paribas, Credit Agricole, HSBC and ING.
Etihad Atheeb 9M profit $47m
Higher revenues from various segments boosted profit.Allowance for impairment in trade receivables and finance charges (FCs) declined during the same period, Argaam reported.
On a quarterly basis, the telecom operator's third quarter leapt from SAR 47.9 million in Q2 2023/24.
