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
Amazon set for launch of its first batch of Starlink-rival satellites
Washington, United States -- After delaying an earlier attempt due to bad weather, Amazon is preparing to launch its first...
- The mission, called Kuiper Atlas 1, is scheduled to lift off from Cape Canaveral Space Force Station in Florida at 7:00 pm local time (2300 GMT).
- The $10 billion initiative plans to deploy 3,200 satellites into low Earth orbit -- the region of space up to 1,900km above the planet.
Business
Etihad unveils new A321LR aircraft
A321LR features First Suite - a private, enclosed space with a sliding door.
- The airline highlighted the aircraft's enhanced guest experience, including a first-class offering typically found on larger planes.
- The aircraft features new First Suites with sliding doors and lie-flat beds, 14 lie-flat business-class seats with direct aisle access, and upgraded economy seating.
Gen Z travellers in UAE seek purposeful, tech-enabled journeys: Wyndham study
Dubai, UAE - Gen Z travellers in the UAE are reshaping the future of tourism, prioritizing cultural immersion, sustainability, and...
- The study, conducted by YouGov, found that nearly two-thirds (63%) of Gen Z respondents prefer accommodations that reflect local culture
- Meanwhile, social media platforms like Instagram and TikTok are driving travel choices for 26% of them, with 79% already using or eager to use AI tools to plan their trips
Business
stc Group Q1 net profit up 11.05%
The Group reported a revenue of $5.12 billion.
- The group distributed SAR0.55 per share for the first quarter of 2025, in accordance with the dividends distribution policy approved by the General Assembly.
- Gross profit rose by 5.01 percent to SAR 9.098 million, operating profit increased by 2.02 percent to SAR 3.584 billion, and EBITDA grew by 5.25 percent to SAR 6.120 billion.
Business
Screens, drones, massages: Shanghai flaunts the future of cars
Shanghai, China -- At the huge Auto Shanghai industry show this week, the chatter was less about powerful engines and...
- Chinese consumers place more value on interior comfort compared to other markets, according to European carmakers.
- Visitors at Auto Shanghai queued to sit in luxurious minivans with chrome radiator grilles and reclining rear seats.
Business
Trump trade war pushes firms to consider stockpiling
Even if they don't all acknowledge it so openly, firms in many different sectors are stockpiling their products in the United...
- Whether it's the luxury, electronics or pharmaceutical sectors, US President Donald Trump's unpredictability complicates the calculations of firms.
- Some companies didn't wait for Trump's April 2 announcement of massive "reciprocal" trade tariffs: they had already begun shipping more of their goods to the United States.
Business
‘Something new for the honey market’: Austria trials DNA testing to uncover fraud
Voels, Austria -- At a laboratory in Austria's mountainous Tyrol province, scientists are DNA testing about 100 honey samples a...
- With fake honey flooding markets, and only a few European laboratories running such analysis, the small Austrian company Sinsoma began offering the tests two years ago.
- Between 2021 and 2022, 46 percent of the honey tested under an EU investigation as it entered the bloc was flagged as potentially adulterated, up from 14% in the 2015-17 period.
Business
Chinese firms extend EV range with petrol generators
The generator, known as a range extender, is connected to the cars' batteries and feeds them only when needed. Since...
- This technology grew faster in China last year than any other type of powertrain, the system that propels a vehicle forward.
- More than one million EREVs were sold, representing a total market share of six percent, according to the McKinsey consultancy.
Business
SAIB reports $139 million Q1 net profit
its assets increased by 20.08 percent to $43.65bn.
- The profit growth was driven by a 4.7% year-on-year (YoY) hike in the first-quarter net special commission income, mainly due to higher returns from financing and investment
- Its clients' deposits were valued at SAR 101.66 billion, which is 14.96 percent higher than SAR 88.43 billion a year ago.
Business
ATM 2025 to showcase 2,800 firms, 17 percent from Middle East
Dubai, UAE: The Arabian Travel Market, which will take place from Apr 28 to May 1 at the Dubai World...
- The event has achieved a near 12 percent year-on-year increase in exhibitor participation, making it the largest edition to date, now spanning 14 halls.
- The 32nd edition of ATM will focus on the theme: “Global Travel: Developing Tomorrow’s Tourism Through Enhanced Connectivity”.
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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...
Business
Meta spending big on AI talent but will it pay off?
New York, United States - Mark Zuckerberg and Meta are spending billions of dollars for top talent to make up...
Business
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Business
Indonesia begins $5.9 bn EV battery project despite environment fears
Jakarta, Indonesia -- Indonesia broke ground Sunday on a $5.9 billion megaproject for EV battery production backed by Chinese giant...
- Indonesia is the world's largest nickel producer and it is trying to capitalize on its vast reserves.
- The EV battery project will include a $4.7 billion investment on the eastern island of Halmahera and a $1.2 billion investment in West Java.
Business
China’s Xiaomi receives almost 300,000 SUV pre-orders in minutes
Beijing, China -- Chinese electric vehicle maker Xiaomi received almost 300,000 pre-orders within an hour for its first sport utility...
- Xiaomi's Hong Kong-listed shares soared eight percent at one point before paring their gains but ending at a record high.
- The Beijing-based commercial tech giant made its first foray into car-making with its SU7 EV model last year, part of a broader industry push to boost domestic consumption.
Business
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...
- For $49.99 a year, or $8.99 a month, users will have "unlimited access" to the BBC's news articles, feature stories and the BBC News television channel, a statement said
- The BBC, which broadcasts across television, radio and online, said in March that it faced "unprecedented" challenges to funding