The five biggest-selling gaming consoles
From the first video game consoles of the 1970s to the Nintendo Switch 2 due out on Thursday, hundreds of...
Business
Musk to exit US government role after rare break with Trump
Washington, United States - Billionaire Elon Musk on Wednesday announced he was leaving his role in US government, intended to...
Business
Business
47 global firms interested in developing 7th phase of Al Maktoum solar park
Dubai, UAE -- A total of 47 international companies have shown interest in developing the seventh phase of the Mohammed bin...
- The seventh phase will have a production capacity exceeding 1,600 megawatts (MW) and 1,000MW battery storage system providing 6,000 megawatt-hours.
- Scheduled for phased commissioning between 2027 and 2029, the seventh phase will be generating 4.5 terawatt-hours of clean energy by 2030.
Geostrategy
After Instagram restrictions, Meta to introduce teen accounts for Facebook
Paris, France -- Meta on Tuesday announced that it was extending its teen accounts to its social network Facebook, after...
- The accounts were brought in for 13- to 15-year-old Instagram users last September as part of moves to shield underage internet users from online harms.
- Teens are immediately placed in such accounts, with those under 16 unable to change settings without parental permission.
Business
$20 million rare blue diamond goes on show in Abu Dhabi
Abu Dhabi, United Arab Emirates -- A rare blue diamond valued at $20 million went on pre-auction display on Tuesday...
- The 10-carat Mediterranean Blue, which will go on sale in Geneva next month, is the showpiece of a collection estimated at $100 million, organizers said.
- "Included in the group are the largest flawless diamond in the world... the second largest red diamond known to exist and several diamonds over 100 carats," Sotheby's said.
Interview
UAE’s steady economic rise fertile ground for growth of facilities management
A steady stream of development projects and year-round tourism in the country propel demand for tech-enabled facilities management, says Adnan...
- In a market like the UAE, or the GCC in general, where things evolve daily, adaptation is essential, said Jabri.
- Our industry is increasingly focused on sustainability, and technology plays a pivotal role in enabling environmentally friendly practices, he added.
Business
Stocks sink again as Trump holds firm on tariffs
Trading floors across the globe were overcome by waves of further selling after last week's sharp losses, with Trump telling...
- Wall Street was wracked by volatile trading, bouncing into positive territory on hopes of a 90-day pause in tariffs, only to sink lower when those were dashed by the White House.
- Trillions of dollars have been wiped off combined stock market valuations in recent sessions. Bitcoin tumbled, while the dollar rebounded after sharp losses last week.
Business
UAE tourism generates $12.24bn in hotel revenues in 2024: Minister
Abu Dhabi, UAE -- Hotel revenues in the UAE reached approximately AED 45 billion ( $12.24 billion) in 2024, reflecting...
- Hotel occupancy rates also climbed to 78 percent last year, ranking among the highest both regionally and globally.
- The minister said that the number of hotel guests across the UAE reached approximately 30.8 million in 2024, reflecting a 9.5 percent growth.
Business
Abu Dhabi’s non-oil foreign trade grows by 9% in 2024 to $83bn
Abu Dhabi, UAE -- Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024,...
- Non-oil exports soared 16 percent in 2024, reaching AED 107.8 billion compared to AED 93 billion in 2023.
- Re-exports grew by 11 percent to exceed AED 58 billion, compared to AED 52.4 billion in 2023, while imports grew by 3 percent to AED 140.2 billion.
Business
TikTok’s US future uncertain
It must find non-Chinese owner to avoid ban.
- In the hours before that deadline, TikTok temporarily shut down in the United States and disappeared from app stores, to the dismay of millions of users.
- Much of TikTok's US activity is already housed on Oracle servers, and the company's chairman, Larry Ellison, is a longtime Trump ally.
Business
Pausing production, raising prices: Automakers shift gears after Trump tariffs
Paris, France -- Automakers have already started to adapt to the 25-percent tariff imposed on car imports by US President...
- Bank of America estimates that some 7.3 million vehicles, or eight percent of global auto sales, will get hit by the tariff.
- Trump has stated that the goal of the tariffs is to encourage manufacturing jobs to return to the United States, but it is unclear whether that will be achieved.
Business
Stocks, oil slump as China retaliates and Trump digs in heels
Despite the market turmoil, Trump insisted: "my policies will never change". Wall Street stocks fell more than two percent at...
- Beijing also imposed exports controls on seven rare earth elements, including gadolinium -- commonly used in MRIs -- and yttrium, utilized in consumer electronics.
- French President Emmanuel Macron has called for suspending investment in the United States until what he called the "brutal" new tariffs had been "clarified".
The five biggest-selling gaming consoles
From the first video game consoles of the 1970s to the Nintendo Switch 2 due out on Thursday, hundreds of...
Business
Company News
Masdar issues $1bn bond
Business
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SABIC net loss $322 million
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...
Business
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...
Business
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Business
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.
Business
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
Business
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