Empower okays $119.1m H2 2025 dividend
The dividend is equivalent to 43.75% of paid-up capital.
Business
Business
Qatar Airways seeking 25% stake in Virgin Australia
Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal...
- The deal could significantly shake up Australia's air travel market which is currently dominated by Qantas
- In 2023, Australia's center-left government rejected Qatar's bid to put on 21 extra international flights to and from Australia
Business
OpenAI chief technology officer Mira Murati leaving company
San Francisco, United States - OpenAI chief technology officer Mira Murati on Wednesday said she is leaving the company behind ChatGPT,...
- Murati called her more than six years at the San Francisco-based company "an extraordinary privilege" and described her decision to leave as difficult in a post on X
- OpenAI chief Sam Altman replied to Murati's post with his thanks for what Murati has helped the company build, and promised details on a transition plan soon
Economy
No peak oil demand ‘on the horizon’, phaseout a ‘fantasy’: OPEC
Paris, France - OPEC said Tuesday that phasing out oil was a "fantasy", as the Saudi-led cartel forecast that demand would...
- The oil cartel's prediction runs counter to the assessment of the Paris-based International Energy Agency, which sees demand for fossil fuels peaking this decade
- In the group's annual World Oil Outlook (WOO), OPEC Secretary General Haitham Al Ghais said oil and gas make up well over half of the energy mix today
Business
Boeing lifts wage hike to 30%Â
The 30% general wage hike improves upon the 25% in the earlier offer.
- The International Association of Machinists and Aerospace Workers District 751 walked out on September 13, in a strike involving 33,000 workers in the Pacific
- The 30 percent general wage increase improves upon the 25 percent in the earlier offer, which was initially endorsed by IAM leaders
Business
Microsoft cutting more jobs from its gaming unit amid industry layoffs
San Francisco, United States- Microsoft is cutting about 650 more positions from its gaming unit as it continues to tighten its...
- No games or devices are being cancelled, nor are any studios being closed as part of the "adjustments" made at Microsoft's gaming unit on Thursday, according to Spencer
- Layoffs have become common in the video game industry, with Sony PlayStation early this year announcing it was laying off eight percent of its global workforce
Business
Apple unveils new iPhone built for AI, looks to boost sales
Cupertino, United States - Apple on Monday unveiled new iPhones built for generative artificial intelligence as it seeks to boost sales...
- The tech giant has a lot riding on the new iPhone 16 and hopes that customers are enticed to buy the latest models, attracted by new AI powers
- The features are similar to tools recently released by Meta, Microsoft and Google, which can produce well-crafted content simply by querying in everyday language
Business
UAE’s Etihad finds ‘no issues’ with engines of A350 fleet: statement
Rolls-Royce said on Thursday it was launching "a one-time precautionary engine inspection programme" which may apply "to a portion of...
- Etihad Airways, which operates five of the Airbus A350-1000s, is the only airline in the United Arab Emirates that has this aircraft type in service
- "Etihad has discovered no issues, nor experienced any similar events with the engine, so does not anticipate any impact on its operations," it added
Business
Countries where the X social network is banned and why
Paris, France - With its ban of X, which went into effect on Saturday, Brazil joins a small club of countries...
- Beyond permanent bans, some nations have temporarily restricted access to X, formerly Twitter, which has often been used by political dissidents to communicate
- These have included Egypt in 2011 during the Arab Spring uprisings, Turkey in 2014 and 2023, and Uzbekistan around that country's 2021 presidential election
Business
Apple in talks to invest in OpenAI, creator of ChatGPT: report
Washington, United States - iPhone juggernaut Apple is in talks to invest in OpenAI, the creator of ChatGPT and the biggest...
- The company founded by Steve Jobs is at the funding table as OpenAI raises more money to help meet the heavy costs of building new technology
- Reports said that OpenAI is in talks to reach a valuation of $100 billion in the funding round led by venture capital firm Thrive Capital, which will pump in one billion dollars
2024 Crypto Crime Update Part 2: China-based cybercrime networks on the rise
In part 1 of our mid-year crime update, we discussed trends related to ransomware and stolen funds. While aggregate illicit...
- 43% of YTD scam inflows have gone to wallets that became active this year
- Huione Guarantee, appears heavily used for illicit crypto-based activities, including pig butchering, investment fraud, and money laundering
Empower okays $119.1m H2 2025 dividend
The dividend is equivalent to 43.75% of paid-up capital.
Business
Company News
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DAE net profit up 36.2%
Business
UAE to launch DeepSeek-inspired AI models: Faisal Al Bannai
Dubai, United Arab Emirates -- The United Arab Emirates is planning to launch new artificial intelligence models inspired by China's DeepSeek,...
Business
ADNOC Distribution 2024 net profit down 7%
Minus UAE corporate tax, it would have grown by 2.4% to $725m
Business
Altman rejects Musk’s US$97.4 billion bid to buy OpenAI, as feud continues
After receiving backing from his OpenAI board, Sam Altman informed an Elon Musk-led group of investors that sought to buy...
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Government chiefs and tech leaders gather in Paris for AI summit
Political and tech industry leaders were set to descend on Paris Monday for a two-day summit on artificial intelligence, hoping...
- Macron announces US$113 billion investments in AI in coming years in France
- China is opening an investigation into monopolistic practices by Google
Business
Maaden raises $1.25bn in sukuk offering
The Sukuk were offered in a five-year and a 10-year tranche.
- The five-year tranche of $750 million consists of 3,750 Sukuk based on the minimum denomination and total issue size.
- Maaden said the annual return on the five-year tranche is 5.25 percent and 5.50 percent for the 10-year tranche.
Business
UAE announces top-up tax for multinational enterprises
Abu Dhabi, UAE - The Ministry of Finance has announced the issuance of Cabinet Decision No. 142 of 2024 on...
- The top-up tax will apply to entities that are members of Multinational Enterprises (MNEs) operating in the UAE with annual global revenues of €750 million or more
- To bolster the UAE’s competitiveness as a leading investment hub, the top-up tax has been structured to exclude Investment Entities