IMF cuts global growth outlook on impact of Trump tariffs
Washington, United States -- The International Monetary Fund on Tuesday slashed its forecast for global growth this year, citing the...Business Economy
UAE foreign trade increases by 49% to reach $1.42 trillion in 2024
The UAE climbed from 17th to 11th globally in merchandise exports and from 18th to 14th in imports between 2021...Business Economy
Borouge proposes share buyback
The company had posted a 24% YoY increase in net profit to $1.24bn.Boruge said the proposed share buyback underscores the company’s confidence in its long-term growth prospects.
Shareholders will also vote to approve the final 2024 dividends of 7.94 fils per share, which will be distributed on 28t Apr, bringing its total 2024 dividend payout to $1.3bn.
China’s Baidu releases new, free AI model to compete with DeepSeek
Baidu announced in a WeChat post that its latest X1 reasoning model -- which the company claims performs similarly to...Baidu also made the models free to use, more than two weeks ahead of schedule. Previously, users had to pay a monthly subscription to access the company's latest AI models.
Technology companies in China have been scrambling to release improved AI platforms since start-up DeepSeek shocked its rivals with its open source and highly cost-efficient model
The future of logistics: Insights from DHL’s Amadou Diallo
The future of logistics is a convergence of technology, sustainability, and human ingenuity, which are transforming supply chains into more...in the MEA region, key hubs such as Doha, Dubai, Jeddah, Casablanca, Salalah, Nairobi, Durban, and Tema serve as vital nodes for regional distribution.
Additionally, hubs like Istanbul, Dubai, and Addis Ababa improve connectivity within this region, said Diallo.
Gold tops $3,000 for first time on Trump tariff threats
Gold surpassed $3,000 for the first time Friday as US President Donald Trump's trade wars boost the safe-haven asset, while...Gold, a safe haven in times of uncertainty, rose as much as $3,004 an ounce before paring back gains later in the day to trade under $3,000
Trump said he would not row back on the metals duties, nor plans for sweeping tariffs on countries worldwide due to kick on April 2
DAE to acquire 17 aircraft for $1 bn
This portfolio comprises 100 percent next-generation aircraftEighty percent of the aircraft are manufactured by Airbus, and 20 percent are manufactured by Boeing.
These aircraft are expected to reduce DAE’s weighted average passenger fleet age to 6.9 years.
Electric, hybrid and aerial to entirely transform city life: IIT Madras expert
Easier commutes with faster, quieter, and eco-friendly vehicles would reduce travel times significantly and reduce stress for urban residents, says...Large and hugely populous Asian countries like India have abundant sunlight, making solar power a natural fit for supporting EV adoption.
The ePlane Company’s air taxis will revolutionize urban transport by offering faster and more efficient ways to move within cities.
DP World posts record $20bn revenue
The adjusted EBITDA rose by 6.7% to $5.5bn in 2024.DP World capacity exceeded 100 million TEU due to selective infrastructure investment in key growth markets.
Capital expenditure of $2.2 billion ($2.1 billion in 2023) was invested across the existing portfolio.
Meraas awards $544m contract
It has been awarded for construction of Design Quarter at d3It includes the first residential community within Dubai Design District (d3), a global creative and design ecosystem.
Scheduled for completion by mid-2027, the Design Quarter at d3 comprises a collection of 558 apartments.
Smart cities lead GCC’s IoT boom: NEOM and Smart Dubai in focus
IoT applications are transforming critical sectors such as transportation, where connected vehicles improve traffic management, utilities where smart grids enhance...For instance, to manage the flow of massive stadium crowds during the FIFA World Cup, Qatar leveraged “digital twins,” aggregating data from 40,000 IoT devices.
In a similar vein, Dubai’s Enterprise Command and Control Center uses a combination of AI, digital camera, and thermal imaging technologies to oversee 11,000 surveillance cameras.
Tech and sustainability drive Singapore’s smart tourism vision
To realize its vision for “smart tourism”, Singapore Tourism Board is leveraging cutting-edge technologies like artificial intelligence, data analytics, and...STB’s Tcube, a hybrid innovation space launched in 2021, has helped tourism businesses introduce tech solutions, including Al, into their operations.
More than 1,100 tourism companies have benefited from Tcube programs. Its Singapore Tourism Accelerator has supported 47 start-ups to develop 58 industry solutions across 6 cohorts
