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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.

  • Saudi Arabia launches platform with Homeland of Dates tag

    The Saudidates platform is expected to help the center promote digital transformation and digitize markets and the entire sectors.

    The National Center for Palms and Dates in Saudi Arabia has launched a platform called Saudidates

    The platform is one of the center’s projects to invest in the history and culture of the kingdom

  • Saudi Arabia to import 625,000 tons of wheat later this year

    The wheat is being procured from Europe, North and South America, and Australia, and will arrive in Saudi Arabia from...

    The Russian invasion of Ukraine has threatened the food supply of not just Saudi Arabia but the entire Middle East and North Africa region

    Saudi Arabia buys wheat, beef, and milk from both Ukraine and Russia and relies on them for various products, particularly agricultural products

  • Elon Musk buys 9.2% Twitter stake

    The investment is worth $2.9 billion based on Friday's share price.

    Musk became Twitter’s largest shareholder following the purchase of 73.5 million shares or 9.2 percent of common stock

    The Tesla founder is currently the world's richest man, with a net worth of $287.6 billion, according to various sources

  • Captagon trade tops $5b in MENA, raises health risk concerns

    Exponential growth in the trade of the amphetamine-type stimulant captagon poses an increasing health and security risk to the region

    The figure is a jump from an estimate of around $3.5 billion in 2020 and only reflects the retail value of the pills seized last year

    The real amount of seized pills is likely higher and still only a fraction of the total amount of captagon produced

  • Iran says oil production back to pre-sanctions level

    Iran's oil production capacity has returned to the same level as prior to the reimposition of sanctions in 2018, when...

    "Oil production has reached pre-sanctions figures, despite economic pressures," said Mohsen Khojastehmehr, CEO of the National Iranian Oil Company

    In a monthly report, the OPEC group of oil-producing countries estimated that Iran produced 2.54 bpd of oil in February

  • Saudi Arabia, UAE woo major chunk of FDI in GCC

    As foreign investors seek to take advantage of investment opportunities in the region, KSA and UAE get billions of dollars...

    The foreign direct investment flows in the UAE increased 3.9% to $20.7bn in 2021

    The total investment in Saudi Arabia by overseas investors rose by 257 percent last year to $19.3 bn

  • Saudi Arabia adds two marine tankers to its naval fleet

    The Public Transport Authority announced the launch of two new Saudi-flagged marine tankers: "Sara" and "Hessa". Both were recently registered...

    The new giant ships of the Saudi naval fleet bring the tally of national ships carrying the Saudi flag to 426.

    The marine tankers named "Sara" and "Hessa" were registered at King Abdulaziz Port in Dammam.

  • DFF to support tech startups in luxury retail challenge

    Dubai Future Foundation (DFF) has announced the launch of a new, first-of-its-kind initiative in the region to encourage and support...

    The challenge is to utilize the latest technologies and innovations and contribute to the development of a quality and innovative experience for luxury brand customers.

    The challenge is part of the Future of Luxury Retail start-up incubation program, organized by Dubai Future Accelerators, an initiative by the DFF.

  • Gulf Air, Texel Air sign MoU

    They will explore charter agreements, engineering and maintenance activities.

    Texel Air is a Bahraini registered airline and maintenance repair organization (MRO) formed in 2013.

    It is dedicated to providing third party cargo charter operations to a wide range of customers with diverse requirements.

  • IDC forecasts Saudi ICT spending to touch $33bn in 2022

    The International Data Corp. has predicted Saudi spending on information and communications technology to touch $33 billion in 2022, a...

    The Saudi technology sector expanded 8 percent between 2019 and 2021, to reach a value of $32.1 billion

    The global market intelligence provider has also described the Saudi ICT sector as one of the most rapidly growing markets in the region