Saudi Pro League announces long-term partnership with Maaden
Riyadh, Saudi Arabia - The Saudi Pro League (SPL) and Saudi Arabian Mining Company (Maaden) have agreed a long-term strategic...
Business
Saudi Arabia unveils ‘Colour Your Summer’ program, targeting 41 million visitors
Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector is poised for an unprecedented summer season, with the official launch of...
Business
Geostrategy
Deepfakes can clone your voice in 5 seconds, tech firms mount defense
Las Vegas, United States -- Tech firms are fighting the scourge of deepfakes, those deceptively realistic voices or videos used...
- Hong Kong police recently revealed that a multinational firm employee was tricked into wiring $26m to crooks who staged a videoconference with AI avatars of his colleagues.
- A recent study by identification start-up iBoom found that a scant tenth of one percent of Americans and Britons were able to correctly tell when a picture or video was a deepfake.
Business
ADNOC Drilling approves $788m dividend
The final cash dividend of $394m for 2024 was approved at the AGM.
- The dividend will be paid on or around 11th April 2025, to all shareholders of record as of 27th March 2025.
- ADNOC Drilling’s full-year revenue increased significantly to a record $4.034 billion, rising by 32 percent year-on-year.
Business
Geopolitical tensions buffet markets, gold and oil prices climb
Gold and oil prices climbed on fears of escalating tensions in the Middle East after Israel launched its most intense...
- Wall Street opened lower but European stocks rose in afternoon trading as investors prepared for German lawmakers to vote on a massive spending boost for defense and infrastructure
- Investors are eyeing this week's policy decisions from the US Federal Reserve, Bank of Japan and Bank of England, with all three forecast to stand pat on interest rates.
Business
Google says to buy Wiz for $32 bn
The all-cash deal brings Wiz into the Google Cloud operation.
- The deepening influence of AI makes "cybersecurity increasingly important in defending against emergent risks and protecting national security," the companies said.
- The transaction, the largest ever sought by Google or parent Alphabet, will test Trump's openness to large takeovers after resistance to such deals by Biden's administration.
Business
Nvidia showcases AI chips as it shrugs off DeepSeek
San Francisco, United States - Nvidia chief Jensen Huang is expected to showcase cutting-edge chips for artificial intelligence (AI) and...
- Industry watchers expect Huang to spotlight Nvidia's latest Blackwell line of graphics processing units (GPUs), including new updates in the works
- The AI boom propelled Nvidia stock prices to stratospheric levels until a steep sell-off early this year triggered by the sudden success of DeepSeek
Business
Borouge proposes share buyback
The company had posted a 24% YoY increase in net profit to $1.24bn.
- Boruge said the proposed share buyback underscores the company’s confidence in its long-term growth prospects.
- Shareholders will also vote to approve the final 2024 dividends of 7.94 fils per share, which will be distributed on 28t Apr, bringing its total 2024 dividend payout to $1.3bn.
Business
China’s Baidu releases new, free AI model to compete with DeepSeek
Baidu announced in a WeChat post that its latest X1 reasoning model -- which the company claims performs similarly to...
- Baidu also made the models free to use, more than two weeks ahead of schedule. Previously, users had to pay a monthly subscription to access the company's latest AI models.
- Technology companies in China have been scrambling to release improved AI platforms since start-up DeepSeek shocked its rivals with its open source and highly cost-efficient model
Interview
The future of logistics: Insights from DHL’s Amadou Diallo
The future of logistics is a convergence of technology, sustainability, and human ingenuity, which are transforming supply chains into more...
- in the MEA region, key hubs such as Doha, Dubai, Jeddah, Casablanca, Salalah, Nairobi, Durban, and Tema serve as vital nodes for regional distribution.
- Additionally, hubs like Istanbul, Dubai, and Addis Ababa improve connectivity within this region, said Diallo.
Economy
Gold tops $3,000 for first time on Trump tariff threats
Gold surpassed $3,000 for the first time Friday as US President Donald Trump's trade wars boost the safe-haven asset, while...
- Gold, a safe haven in times of uncertainty, rose as much as $3,004 an ounce before paring back gains later in the day to trade under $3,000
- Trump said he would not row back on the metals duties, nor plans for sweeping tariffs on countries worldwide due to kick on April 2
Business
DAE to acquire 17 aircraft for $1 bn
This portfolio comprises 100 percent next-generation aircraft
- Eighty percent of the aircraft are manufactured by Airbus, and 20 percent are manufactured by Boeing.
- These aircraft are expected to reduce DAE’s weighted average passenger fleet age to 6.9 years.
Saudi Pro League announces long-term partnership with Maaden
Riyadh, Saudi Arabia - The Saudi Pro League (SPL) and Saudi Arabian Mining Company (Maaden) have agreed a long-term strategic...
Business
Company News
Latest News
Trump Organization inks deal to build a golf course and villas in Doha
Doha, Qatar -- The Trump Organization signed on Wednesday its first development deal in Qatar to build a golf course...
Business
Loyalty Lost: How brands need to adapt to the modern traveler
Dubai, UAE: As 2025 unfolds, travel brands are facing a significant challenge: customer loyalty. Traditional rewards programmes, often based on points systems,...
Business
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Business
Meta releases standalone AI app, competing with ChatGPT
San Francisco, United States -- Social media behemoth Meta unveiled its first standalone AI assistant app on Tuesday as it...
- Zuckerberg said the app "is designed to be your personal AI" and would be primarily accessed through voice conversations with the interactions personalized to the individual user.
- The release comes as OpenAI stands as a leader of straight-to-user AI through its ChatGPT assistant that is regularly updated with new capabilities.
Business
Amazon launches first Starlink-rival internet satellites
Project Kuiper, a subsidiary of the online retail giant founded by Jeff Bezos, is playing catch-up with Starlink - SpaceX's...
- The $10 billion initiative plans to deploy 3,200 satellites into low Earth orbit - the region of space up to 1,200 miles - with hopes of going live later this year
- SpaceX launched the first batch of Starlink satellites in 2019 and now boasts more than 6,750 operational units, serving over five million customers worldwide
Business
Aramco, unit and Sinopec ink $4bn deal
The two companies will establish a joint venture company.
- Sinopec and its unit shall contribute $990 million and $1.98 billion in cash, respectively.
- AAS will allocate the remaining amount, representing 25 percent of the JV’s registered capital.