Ajman’s real estate sector deals up 37% in H1 to hit $3.37bn
Ajman, UAE -- The real estate sector in the Emirate of Ajman recorded real estate transactions worth AED 12.4 billion...
Business
Business
Xiaomi launches new advanced in-house mobile chip
Beijing, China -- Tech giant Xiaomi unveiled a new advanced in-house mobile chip on Thursday, a significant milestone for the...
- With the XRING O1, it becomes only the second smartphone brand globally after Apple to mass produce its own 3-nanometre chips, among the most advanced on the market.
- Xiaomi took early steps into semiconductors for smartphones with the launch of the firm's first in-house chip, the Surge S1, in 2017.
Business
May 2025 Islamic Treasury Sukuk auction attracts bids worth $1.88bn
Abu Dhabi, UAE -- The Ministry of Finance (MoF), in its capacity as the issuer and in collaboration with the...
- The total bids received reached AED 6.93 billion ($1.88bn), reflecting an oversubscription rate of 6.3 times.
- The auction results highlighted competitive, market-driven pricing with a Yield to Maturity (YTM) of 3.99 percent for the May 2027 tranche and 4.06 percent for the May 2030 tranche
Business
Ads pressured to evolve as AI changes Google search
San Francisco, United States -- As Google races to lead in artificial intelligence, it faces the challenge of making sure...
- The internet giant is dabbling with ads in its new AI Mode for online search, a strategic move to fend off competition from ChatGPT.
- A new AI Mode enables conversational interaction with Google during search queries, providing answers in diverse formats, such as video, audio or graphs.
Business
Turkey says increasing energy exports to war-torn Syria
Damascus, Syria -- Turkish Energy Minister Alparslan Bayraktar said Thursday in Damascus that his country would ramp up energy exports...
- Syria's Islamist authorities, who toppled Bashar al-Assad in December, are seeking to rebuild the country's infrastructure and economy after almost 14 years of civil war.
- The conflict badly damaged Syria's power infrastructure, leading to cuts that can last for more than 20 hours a day.
Business
Cyberattack to cost UK retailer Marks & Spencer $404 million
London, United Kingdom -- British clothes-to-food retailer Marks and Spencer on Wednesday said a cyberattack affecting its online service is...
- Marks last week revealed that some personal data of its customers had been stolen in a cyberattack that has crippled its online services for weeks.
- The news came as Marks on Wednesday reported operating profit before adjusting items of £985 million for its financial year to the end of March.
Geostrategy
Oil prices jump on report of Israel prepping Iran strike
Both main crude contracts jumped around one percent after CNN reported multiple US officials as saying the government had received...
- There are fears that such a sharp escalation could tip the Middle East into a war, with tensions already high over Israel's strikes on Gaza.
- While safe haven gold pushed higher, the news from CNN appeared to be having little detrimental effect on Asian equities, with most extending the previous day's rally.
Business
Etihad Q1 profit $187 million
This is a 30% YoY increase over Q1 2025.
- Total revenue saw a 15 percent rise compared to Q1 2024, supported by both passenger and cargo business.
- With nearly 20 million passengers carried over the last 12 months, Etihad is the fastest-growing airline in the region.
Interview
The New Travel Mindset: Local Living and Smarter Tech
From immersive local experiences to AI-powered personalization, Muzzammil Ahussain, CEO of Almosafer, shares key trends shaping the future of travel.
- Japan, Korea, Singapore, Malaysia, and Thailand are growing heavily from this region as connectivity improves.
- Europe remains strong, but even in Europe, they're exploring more. Before, it was much more London only.
Business
Nvidia unveils plan for Taiwan’s first ‘AI supercomputer’
Taipei, Taiwan -- Nvidia boss Jensen Huang announced plans for Taiwan's first "AI supercomputer", as he showcased on Monday the...
- Taiwan produces the bulk of the world's most advanced chips, including those needed for the most powerful AI applications and research.
- TSMC, the Taiwanese contract chipmaking giant, has unveiled plans to inject an additional US$100 billion into the United States, on top of the US$65 billion already pledged.
Company News
Tesla Q2 sales down 13.5%
Business
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TomTom cuts 300 jobs
Business
AI robots pluck weeds in California fields, make up for shortage of laborers
Los Banos, United States -- Oblivious to the punishing midday heat, a wheeled robot powered by the sun and infused...
Business
Japan plans ‘world first’ deep-sea mineral extraction from Jan
Tokyo, Japan -- Japan will from January attempt to extract rare earth minerals from the ocean floor in the deepest...
Geostrategy
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Business
Tesla Q2 sales down 13.5%
Shares rally after the disclosure, better than some forecasts.
- The sales figures released Wednesday, which are global, reflect the more contested nature of the EV market, which Tesla once dominated.
- Musk's political activism on behalf of right-wing figures has also made the company a target of boycotts and demonstrations, weighing on sales.
Business
Eight-country coalition aims to tax luxury air travel
Seville, Spain -- Countries including France, Kenya, Barbados and Spain on Monday launched a coalition to push for taxes on...
- The coalition said it would work to increase the number of countries taxing plane tickets, including business-class travel, and private jets.
- Greenpeace welcomed an "important step" to raise more money from "the most elite and polluting form of travel", which has remained "undertaxed".
Business
Meta’s AI talent war raises questions about strategy
New York, United States -- Mark Zuckerberg and Meta are spending billions to recruit top artificial intelligence talent, triggering debates...
- OpenAI CEO Sam Altman recently complained that Meta has offered $100 million bonuses to lure engineers away from his company.
- Several OpenAI employees have accepted Meta's offers, prompting executives at the ChatGPT maker to scramble to retain their best talent.