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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Tariffs could lift Boeing and Airbus plane prices even higher

New York, United States -- Commercial plane prices, already lifted in recent years due to pandemic supply chain shocks, are...
  • The American and European aerospace giants have grappled with higher expenses for primary materials such as titanium, components and energy, as well as overall labor cost pressures
  • To resolve a labor strike, Boeing late last year agreed to a new contract with its Seattle-based machinist union that lifted wages by 38 percent over four years.

Saudi Arabia’s merchandise imports rise 8 percent to $19.34bn in Jan

Riyadh, Saudi Arabia -- Saudi Arabia’s merchandise imports increased 8 percent year-on-year (YoY) to SAR 72.6 billion ($19.34 billion) in...
  • Merchandise imports fell by 8 percent, or nearly SAR 6.4 billion, month-on-month (MoM).
  • Saudi Ar.abia’s imports came mainly from China in January 2025, at SAR 19.2 billion (26 percent) of the total.

Chinese vent anger at Trump’s trade war with memes, mockery

Beijing, China -- While China's leaders use their economic and political might to fight Donald Trump's trade war "to the...
  • Defiant posts have shot to the top of most-searched lists on social media, flooding platforms with patronizing comments and jokes.
  • In one video, a Chinese internet user opens his hands to reveal what goods he buys from the United States -- nothing.

Google has illegal monopoly in ad tech, US judge rules

Washington, United States - A US judge on Thursday ruled that Google illegally wielded monopoly power in the online ad...
  • The federal government and more than a dozen US states filed the antitrust suit against Alphabet-owned Google
  • It is one of two federal suits targeting Google that could ultimately see the company split up and curb its influence

TSMC first-quarter net profit soars

Its net revenue for the quarter soared nearly 42%.
  • TSMC is the world's largest contract maker of chips that have become the lifeblood of the global economy, powering everything from smartphones to missiles.
  • Demand for chips has soared in recent years with the growth of AI, but there are fears that Trump's far-reaching tariffs could drive up consumer prices and hurt chipmakers.

Future-proofing hospitality asset value needs financial rigor with emotional intelligence

The GCC’s luxury hospitality sector has become a global benchmark, yet behind every polished facade lies an increasingly complex financial...
  • Real estate-backed assets that offer a blend of long-term capital appreciation and recurring revenue are especially attractive in today’s market, says Victor.
  • Guests increasingly want to know what a hotel stands for: how it treats its staff, where it sources its ingredients, and whether its promises around sustainability hold up.

Meta to start using Europeans’ data for AI training May 27

Paris, France -- Meta will start using public posts and comments by its European users to train generative artificial intelligence...
  • Meta, the owner of Facebook, Instagram and Threads, said earlier it would develop its AI models with European users' public content and conversations with the Meta AI chatbot.
  • That means anything from Instagram photo captions to Facebook comments could soon be fair game for Meta AI, though private conversations via WhatsApp will be excluded.

Bank credit to Saudi public and private sectors up by $105 billion: SAMA

Riyadh, Saudi Arabia -- Total bank credit granted to the public and private sectors in Saudi Arabia reached its highest...
  • Total bank credit recorded a monthly growth of 1.2%, increasing by SAR 37.035 billion compared to last Jan, when it stood at SAR 3.005 trillion.
  • The bank credit granted to the public and private sectors was distributed across more than 17 diverse economic activities.

Nvidia expects $5.5 bn hit as US targets chips sent to China

Nvidia on Tuesday notified regulators that it expects a $5.5 billion hit this quarter due to a new US licensing...
  • US officials last week told Nvidia it must obtain licenses to export its H20 chips to China because of concerns they may be used in supercomputers there
  • Shares of Nvidia, which have already seen high volatility since Trump's April 2 tariffs announcement, were down over six percent in after-market trades

Denmark’s Royal Unibrew adds AI colleagues into workforce

Fakse, Denmark -- They have names, faces and email addresses, but the five new colleagues at Denmark's Royal Unibrew only...
  • Royal Unibrew in Denmark has introduced five virtual AI colleagues with names and backstories to assist human employees with routine tasks and information retrieval.
  • The company reports increased engagement since adding photos to the AI agents, and employees interact with them through chats and emails for enhanced efficiency.

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...

Latest News

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

Israel arms exports to UAE, Bahrain, Morocco rise sharply after 2023

Sales to countries considered part of the Abraham Accords -- the United Arab Emirates, Bahrain and Morocco who signed groundbreaking...

New WEF report reveals how tech convergence will reshape industries

Geneva, Switzerland – The World Economic Forum today released a new report examining how emerging technology combinations are reshaping industries...

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Meta secures nuclear energy in 20-year Illinois plant deal

Washington, United States -- Facebook owner Meta announced Tuesday a 20-year nuclear energy agreement with US-based Constellation Energy to secure...
  • The investment marks big tech's latest move to meet surging electricity demand from AI, with Microsoft, Google and Amazon also turning to nuclear power as an energy source.
  • Under the deal, Meta's unspecified investment will replace state government subsidies to keep the Clinton Clean Energy Center operating beginning in 2027.

Airlines less optimistic for 2025, facing ‘headwinds’: IATA

New Delhi, India -- Airlines on Monday revised down their traffic and profit forecasts for 2025, citing "headwinds" for the...
  • The International Air Transport Association (IATA) estimates fewer than five billion air journeys will take place this year, compared with the previously forecast 5.22 billion.
  • Commercial aviation revenues are expected to remain below the $1 trillion forecast in the previous December projections, with IATA now reporting $979 billion.

Indian airline IndiGo orders 30 Airbus A350 widebody planes

New Delhi, India -- Indian airline IndiGo said on Sunday it had signed an order for 30 more Airbus A350-900s,...
  • The low-cost carrier, India's biggest by market share, is positioning itself as a significant player in the long-haul market.
  • The A350 planes, with ranges of up to 15,000 kilometers (9,300 miles), will allow it to expand its network further.