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TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘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.

  • Empower pipeline grows 33.2 percent

    The growth in Dubai cooling network occurred between 2018 and 2021.

    The new total length of the district cooling network in Dubai is 446 times the length of Burj Khalifa, the world's tallest building.

    The network expansion in 2021 is attributed to the new projects added to Empower's portfolio, most notably the Marsa Al Arab, and the expansions of Dubai Healthcare City.

  • SIIG of Saudi Arabia to buy all shares of Petrochem

    SIIG, also known as Saudi Industrial Investment Group, has obtained the approval to buy all shares of Petrochem.

    SIIG will now fully own Petrochem and as a result the latter will be suspended from trading on the Saudi Stock Exchange beginning Monday

    The acquisition transpired as Saudi Arabian energy companies are restructuring their operations in response to a market that has lost some of its demand

  • Ericsson pulls out of Russia

    Swedish firm said it was suspending its operations.

    The telecom giant already announced in late February that it would stop all deliveries to Russia following Moscow's February 24 invasion of Ukraine

    The company added that it was "engaging with customers and partners regarding the indefinite suspension of the affected business"

  • Saudi Eastern Province launches 11 investment projects in Dammam

    Saudi Arabia’s Eastern Province has launched 11 investment projects in Dammam metropolis. The Undersecretary for Investments and Revenue Development, Eng....

    The launch of these investment sites is part of the objective of 40 investment projects with an area of ​​3 million square meters.

    The duration of investment projects is 25 years, subject to extension, according to Undersecretary for Investments and Revenue Development, Eng. Hamdan Al-Aradi.

  • UAE’s Al Habtoor slams bogus listicles

    A leading magazine recently published Top 10 Richest Arab billionaires list and was criticized for ignoring many nationalities and known...

    Forbes Middle East recently published “Top 10 Richest Arab billionaires” list and was criticized for ignoring many nationalities and known wealthy businessmen

    Egyptian billionaire businessman Nassif Sawiris with $7.7bn topped the Forbes Middle East list, followed by Algerian Yassaad Rabab and family at $5.1bn

  • Global stocks slide on Fed tightening and China prices

    Asian stocks posted losses on Monday as unease lingered over tightening monetary policy by the Fed and rising prices in...

    The drop followed a negative lead from Wall Street

    In Tokyo, the Nikkei closed 0.6 percent lower, while Hong Kong and Shanghai lost more than three percent and two percent respectively

  • Al Seer begins VLGC construction

    Lucky Gas is the company's first Very Large Gas Carrier.

    Last year, Al Seer Marine formed a joint venture named ABGC DMCC with BGN International to build two new VLGCs.

    Lucky Gas is expected to be completed and delivered by March 2023. The second VLGC, named North Gas, is expected to commence steel cutting in May 2022.

  • QIC, QInvest partner to form asset management company

    The new company, jointly owned by QIC and QInvest, will be a Sharia'a compliant entity, regulated by Qatar Financial Centre...

    The new company, jointly owned by QIC and QInvest, will be a Sharia'a compliant entity, regulated by Qatar Financial Centre Regulatory Authority

    Founded in 1964, QIC was the first domestic insurance company in Qatar. It is listed on the Qatar Stock Exchange

  • Future uncertain for Germany refinery fed on Russian oil

    The PCK refinery in Germany has been processing crude oil from Russia since before reunification, but a looming ban on...

    The PCK refinery is located in the town of Schwedt in former East Germany near the Poland border

    It employs 1,200 people, and many local businesses depend on the custom it brings to the area

  • Musk not joining Twitter board: CEO

    Parag Agarwal announced on Tuesday that Musk was joining the board.

    Elon Musk, who became the largest shareholder after buying 73.5 million shares in Twitter, has decided not to join its board

    A day earlier, Musk called out users who were followed by millions and billions of people on Twitter but rarely posted on it