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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.

  • North Sea oil project wins Israeli takeover boost

    A North Sea oilfield project off Scotland's coast opposed by environmentalists and paused after energy giant Shell decided to exit...

    Ithaca Energy, owned by Tel Aviv-listed Delek Group, announced late Thursday a deal to buy Siccar Point Energy for an initial $1.1 billion

    The new owner added that Cambo and Rosebank "represent an opportunity for Ithaca to develop fields that will contribute significantly to the UK's energy security."

  • Rising prices threaten Petrobras

    It is caught in a political tug of war, with the president on one side.

    Jair Bolsonaro, the right-wing President of Brazil, is widely blamed by the public for the country's double-digit inflation and high fuel prices

    Even as Brazil's economy recovers from the pandemic, fuel prices rose 33 percent and the war in Ukraine made the situation worse

  • Cryptocurrency miners in Texas going solar

    The crypto-creation center would be located in west Texas and equipped with Tesla solar panels and batteries.

    Block and Blockstream are said to have invested $6 million to produce 0.1 bitcoin per day

    The project would be located in west Texas, aiming to make cryptocurrencies less expensive and more eco-friendly

  • Twitter employees to meet Musk

    They are concerned about his influence on the company board.

    The social media company named Tesla Chief Executive Elon Musk to the board on Tuesday

    It came after he acquired a more-than-9-percent stake in the company, making him Twitter's largest shareholder

  • Tech savvy UAE becomes Arab world’s digital hot spot

    The UAE has earned a unique distinction of becoming the only Arab country to be propelled into the premier club...

    UAE is considered one of the world's most attractive countries for digital talent, while Dubai and Abu Dhabi are both listed in the top 10 cities for digital talent

    The UAE has been named the second most attractive place to relocate to work in the digital sector in a latest survey by Boston Consulting Group

  • Audi, Porsche eye entry into F1

    The firms aim to burnish their green technologies and ambitions.

    Audi will only join the championship on "condition" that the regulations from 2026 "provide for extensive changes for a more sustainable sport".

    The firms have said a final decision in this regard is yet to be made.

  • Weekly real estate transactions worth $1.44 bn recorded in Dubai

    A total 2,012 real estate transactions worth 5.3 billion ($1.44 billion) were conducted in Dubai during the week ending April...

    A total of 236 plots were sold for AED 1.07 billion, while 1,415 apartments and villas were sold for AED 2.96 billion.

    A total of 53 properties were granted between first-degree relatives worth AED 269 million.

  • Saudi Arabia to penalize owners for not fencing their ‘vacant land’

    The Ministry of Municipal, Rural Affairs and Housing of Saudi Arabia has asked owners of vacant plots of land to...

    The ministry intends to beautify the urban landscape, protect property from encroachments, reduce visual distortions, encourage citizens to become environmentally friendly

    The ministry said that Riyadh, Dammam, Makkah, Al-Madinah and Jeddah are the target cities in the first phase where the decision will take effect

  • DIFC launches ‘Studio Launchpad’ focused on ubiquitous finance

    Dubai International Financial Centre (DIFC) has announced the launch of Studio Launchpad, saying it is the world’s first venture studio...

    The Launchpad is supported by an international group of venture building experts, digital asset pioneers and emerging technology strategists.

     Studio Launchpad is designed to attract and engage a consortium of leading start-up and corporate venture studios.

  • SAMA directs banks to stop opening online accounts

    SAMA, the Saudi Central Bank, has directed banks in the kingdom to put a stop to the opening of online...

    As per the new measures that will take effect starting April 10, accounts are to be opened through branches only

    Other measures include limits on daily electronic transfers and holding the international transfers for 24 hours