TomTom cuts 300 jobs
The firm said it was realigning its organization as it embraces AI.Company News Business
BBC launches US paid subscription to news website
London, United Kingdom - The BBC, Britain's public broadcaster that is struggling with strained finances, on Thursday launched a paid...Business
General Gulf inflation rate logs 1.7% by end of Dec 2024
Muscat, Oman -- The general inflation rate in the GCC countries rose by 1.7 percent at the end of December...The increase is primarily driven by a 5.9 percent increase in housing prices and a 2.8 percent rise in the prices of goods and services.
The culture and entertainment group recorded a 1.8 percent increase, while both the food and beverages group and the education group rose by 1.2 percent each.
EGA advances plans to build new US aluminum plant
Abu Dhabi, UAE -- Emirates Global Aluminum, the largest ‘premium aluminum’ producer in the world, today announced the progression of...The plant is expected to have a production capacity of 600 thousand tons of primary aluminum per year.
Some 85 per cent of the aluminum needs of American industries, from automotive to aviation and construction, are currently met by imports.
US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...The broad-based S&P 500 added 0.1 percent at 5,923.30, while the tech-rich Nasdaq Composite Index gained 0.2 percent to 19,146.48.
Broadband and cable company Charter Communications gained 2.5 percent after announcing a deal to acquire Cox Communications for $34.5 billion.
Masdar issues $1bn bond
Its green bond program hits $2.75 billion.The bond was issued in two equal tranches of US$500 million, with tenors of 5 and 10 years and coupons of 4.875% and 5.375%.
The bond attracted significant oversubscription with a peak orderbook of US$6.6 billion.
Trump says urged Apple to manufacture in US not India
Doha, Qatar - US President Donald Trump said Thursday he urged Apple to manufacture its products in the United States...Trump said he told Cook: "We're not interested in you building in India... we want you to build here and they're going to be upping their production in the United States"
Apple announced in February it would invest more than $500 billion in the United States over the next four years and promised to hire 20,000 people in the country
OpenAI abandons plan to become for-profit company
San Francisco, United States - OpenAI CEO Sam Altman on Monday said the company behind ChatGPT would continue to be...The issue had become a serious point of contention for the artificial intelligence trailblazer, with major investors demanding the change to better guarantee returns
But AI critics worried about the dangers of pursuing big profits on such powerful technology without the oversight of a nonprofit board of directors who acted in society's interest
Luberef net profit falls 7% in Q1
A fall in by-products sales leads to profit dip.This is in addition to a decrease in by-products crack margins, despite an increase in base oil crack margins.
Total shareholders’ equity, no minority interest, stood at SAR 4.07 billion as of March 31, 2025.
SABIC net loss $322 million
The company's net profit was $66m in Q1 2024Losses were driven by a SAR 1.05 billion drop in gross profit on higher feedstock prices.
On a sequential basis, net loss shrank from SAR 1.89 billion in Q4 2024.
PureHealth posts $137m Q1 net profit
The Group's revenue increased 8 percent YoY.EBITDA grew 5 percent year-on-year to AED 1.1 billion and net profit grew 3 percent year-on-year to AED505 million in Q1-2025.
haista Asif, Group Chief Executive Officer at PureHealth, commented, “PureHealth’s first quarter results reflect the solid growth witnessed across all core segments."
Trump Organization inks deal to build a golf course and villas in Doha
Doha, Qatar -- The Trump Organization signed on Wednesday its first development deal in Qatar to build a golf course...Eric Trump, executive vice president of the Trump Organization and the US president's son, attended the signing ceremony with Qatari Diar and Dar Global.
The 18-hole Trump International Golf Course and Trump Villas are to be constructed as part of a major government-backed development scheme, Simaisma Project.
