Microsoft beefs-up its AI assistant with voice, vision
San Francisco, United States - Microsoft on Tuesday doubled down on deploying artificial intelligence to consumers, releasing an updated version of...
Business
Boeing lifts wage hike to 30%Â
The 30% general wage hike improves upon the 25% in the earlier offer.
Business
Business
Qatar’s foreign merchandise trade surplus $4.58 billion in Nov 2023
Doha, Qatar -- Qatar's foreign merchandise trade balance, which represents the difference between total exports and imports, showed a surplus...
- Total exports of goods amounted to around QR 26.5bn in Nov 2023, showing a decrease of 28.6 percent compared to Nov 2022, and a decrease of 8.8 percent compared to Oct 2023.
- In Nov 2023, China was at the top of the countries of destination of Qatar's exports with close to QR 5.4 billion, a share of 20.4 percent of total exports.
Business
PGA works to extend ‘active and productive’ Saudi merger talks
An update on the PGA Tour website regarding talks said the memo, which reportedly was obtained by The Golf Channel...
- The update to players in a memo from Monahan came hours ahead of the year-end deadline to approve a framework agreement merging the PGA Tour, DP World Tour and PIF
- Tour commissioner Jay Monahan said the PGA Tour had made "meaningful progress" in separate negotiations to have Strategic Sports Group (SSG) become a tour minority investor
Business
Iran-Azerbaijan trade registers 46 percent jump in 2022
Tehran, Iran-- Trade between Iran and Azerbaijan has registered a 46 percent jump in 2022, according to the deputy prime...
- The deputy PM was speaking at the inauguration ceremony of the new Astara-Astara border bridge
- He said the two countries would see significant growth in the transit sector in the coming years
Business
Visitors flock to Sheikh Zayed Festival, boosting exhibitors’ sales
Abu Dhabi, UAE--Sheikh Zayed Festival is witnessing a large public turnout from citizens, residents and tourists from all over the...
- The Heritage Village saw a huge crowd of visitors buying products made by Emirati families, boosting the businesses and industries
- Visitors can avail discounts on a wide range of products across all pavilions and sections, in addition to having new food experiences
Business
UAE announces reduction in fuel prices for January
ABU DHABI, UAE - The prices of petrol and diesel are set to decrease in the country in January following...
- This change reflects a continuous trend observed in the fuel prices over the past few months.
- September and October witnessing increases and November and December seeing reductions.
YEARBOOK 2023
From climate action to global aid: Inside UAE’s remarkable year
Abu Dhabi, UAE -- The UAE is bidding farewell to 2023, dubbed the ‘Year of Sustainability'. From hosting the relatively...
- UAE launched ALTÉRRA, the world’s largest private investment climate action vehicle, aimed at raising and mobilizing an additional $250bn for climate action.
- Despite global headwinds, CBUAE projects 3.3 percent year-on-year growth projected for the UAE economy in 2024.
Business
45 percent of Saudi employees work over 40 hours per week
Riyadh, Saudi Arabia -- Nearly 45.8 percent of employees in Saudi Arabia work more than 40 hours per week and...
- Figures also show that 46.6 percent of employees have received training on health and safety procedures, and 48.7 percent have health and safety departments in their workplace.
- Data also shows that 7.8 percent of employees deal directly or indirectly with chemicals, medical waste, radioactive materials or toxic gases.
Business
Bank takes over Amiantit subsidiary
The bank will absolve Amiantit of all its financial obligations.
- The debt being cleared constitutes approximately 50 percent of the total liabilities that Amiantit owes to various banks.
- Preliminary estimates suggest the company will recognize profits worth US$128 million as a result of this settlement.
Geostrategy
Maersk halts ships’ transit via Red Sea strait for 48 hours
COPENHAGEN, DENMARK - Shipping giant Maersk said on Sunday it was suspending the passage of vessels through a key Red Sea...
- The Maersk Hangzhou, a Singapore-flagged, Denmark-owned container vessel reported being struck by a missile while transiting the Bab al-Mandab Strait.
- It appeared to be undamaged in that attack and "was able to continue its transit north", said Maersk, one of the world's largest shipping companies.
Business
Saudi AZM gets independent director
Omar bin Fahd Al-Sunaidi's term will extend until Jun 2026.
- The decision was made at the firm’s Fourth Ordinary General Assembly meeting.
- The assembly concluded with the appointment of PricewaterhouseCoopers (PwC) as the auditor for the Company's 2024 fiscal year.
Microsoft beefs-up its AI assistant with voice, vision
San Francisco, United States - Microsoft on Tuesday doubled down on deploying artificial intelligence to consumers, releasing an updated version of...
Business
Company News
Air France-KLM posts profit
Business
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Apple drops electric car plans
Business
UAE, Hungary ink pact to enhance trade, investment ties
ABU DHABI, UAE – The United Arab Emirates and Hungary have signed an economic cooperation agreement aimed at stimulating trade...
Geostrategy
OpenAI partners with Le Monde and Prisa Media
Prisa Media chief executive Carlos Nunez called the OpenAI alliance a "step toward the future of news" where technology and...
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Business
Ramadan influences consumer habits, retail strategy
The ongoing fasting month brings traditional practices and modern shopping habits together, impacting market trends significantly in the Gulf region.
- The ongoing fasting month brings traditional practices and modern shopping habits together, impacting market trends significantly in the Gulf region.
- From altered shopping hours to a rise in e-commerce and spending on traditional foods and gifts, Ramadan shapes retail landscape in unique ways.
Inditex posts record net profit
Inditex, the world's biggest fashion retailer, is owned by Zara.
- The net profit of Inditex reached 5.4 billion euros ($5.9 billion) last year, up 30 percent from 4.1 billion euros in 2022
- The figure was in line with the expectations of analysts polled by financial data firm FactSet, who predicted profits of 5.36 billion euros
Business
Adidas posts 2023 loss
In 2024, it expects sales to grow at a "mid-single-digit rate".
- The loss of 75 million euros ($82 million) followed a profit of 612 million euros the previous year
- Two Yeezy sales in 2023 brought in 750 million euros, well below the 1.2 billion euros of revenue the logo had generated in 2022