Chinese electric car company Nio to enter UAE this year
Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an...
Business
Oil giant Aramco says to offer shares worth over $10 bn on Saudi bourse
Riyadh, Saudi Arabia - Oil giant Saudi Aramco said on Thursday it plans to sell 1.545 billion shares worth more than...
Business
UAB net profit grows 65%
Business
stc Group inks several pacts
Business
Presight net profit $155m
Business
Business
PIF seeks to increase stake in Egypt’s e-Finance by 2 percent
Riyadh, Saudi Arabia -- Ibrahim Sarhan, the Chairman and Managing Director of e-Finance for Digital & Financial Investments based in...
- This move comes after PIF's recent buy orders for the stake purchase, indicating the fund's confidence in e-Finance and its favorable financial results, Argaam reported.
- e-Finance expanded its operations by opening an office in Saudi Arabia this month, securing essential licenses with the support of PIF as a major shareholder.
IBM pulls ads from Elon Musk’s X over pro-Nazi posts
In the year since taking over Twitter, now rebranded as X, Musk has gutted content moderation, restored accounts of previously...
- The move came as X owner Elon Musk faced criticism for endorsing an unfounded antisemitic conspiracy theory on the service
- Nonprofit Media Matters reported that it found Apple, Oracle and IBM ads displayed next to posts touting Hitler and the Nazi Party on X
Business
Google launches new AI features for organizing photos
Washington, United States - Google said on Thursday that Google Photos now groups together similar photos and organizes screenshots and...
- Google Photos will automatically identify and group similar photos that were taken close together into Photo Stacks
- The company is also applying the technology to screen shots and important documents stored on a user's phone
Business
UAE awards EDGE $65m contract to supply unmanned aerial systems
Abu Dhabi, UAE – ADASI, the EDGE Group entity, a regional leader in autonomous systems and services, said on Thursday...
- Aimed at further advancing air operations, GARMOOSHA is an unmanned aircraft designed to carry payloads of 120kg with a range of 150km
- With a low-consumption fuel engine, its sensor capabilities make it a versatile system capable of solving some of the most difficult challenges
Alibaba shares dive more than 7% after cloud service called off
Alibaba is a key player in China's expansive digital economy and the operator of a major online shopping platform. The...
- The firm's stock dived 7.13 percent soon after the starting bell in Hong Kong, tracking a collapse in its New York-listed shares
- Washington has moved to bar the shipment to China of powerful chips, including those from California-based Nvidia
Business
Focus shifts to societal impact and ethical use of AI
AI and data stakeholders will gather at Global Data Dialogue 2023 -- to be hosted in Dubai next week by...
- AI and data stakeholders will gather at Global Data Dialogue 2023 - to be hosted in Dubai next week by DataLEADS - to discuss AI's sector-wide transformative potential.
- Through engaging panel discussions, illuminating show-and-tell sessions, the summit endeavors to spark dialogues that will shape the trajectory of AI and and data science globally
Business
UAE defense ministry orders 100 REACH-S unmanned aircraft from EDGE
DUBAI, UAE - EDGE, one of the world's leading advanced technology and defense groups, announced its first major order from...
- ADASI, an EDGE entity which designs and develops autonomous systems, will oversee the production and deliver the contract to the UAE Armed Forces.
- The REACH-S will provide the UAE Armed Forces with a cost-effective, 24-hour intelligence, surveillance and reconnaissance (ISR) capability.
Business
Emirates sign deal with Airbus to buy 15 A350-900s
Dubai, UAE - Dubai-based Emirates on Thursday announced an order for 15 long-haul Airbus A350-900s, bringing to 110 the number of...
- "The A350-900s will add to our fleet mix and we are pleased to announce additional orders for this aircraft type, said Emirates official
- "We plan to deploy our A350s to serve a range of new markets including long-haul missions of up to 15 hours flying time from Dubai," he added
Business
Tabreed 9M profit at $218m
This is due to the steady growth in its consumption volumes.
- Tabreed delivers strong growth, with revenue soaring 10 percent to US$490 million in January-September 2023.
- This is a 10 percent increase in revenue year-on-year, compared to US$460 million in January-September 2022.
Business
Siemens posts record profit
Its shares rose over 6 percent on the Frankfurt Stock Exchange.
- The company, whose businesses range from making trains to automating production processes, earned a net profit of $8.62 billion in 2022-2023.
- Sales, at $84.6 billion, rose 11 percent on the previous year while for 2024, the group expects revenue to grow in a range of between 4 and 8 percent.
Chinese electric car company Nio to enter UAE this year
Chinese electric car company Nio plans to expand to the Middle East this year, CEO William Li said on an...
Business
Company News
Hermes profit soars 28 percent
Business
L’Oreal net profit jumps 8.4%
Business
Latest News
Emaar 2023 revenue at $7.3bn
Business
UAB net profit grows 65%
Business
stc Group inks several pacts
Business
Presight net profit $155m
Business
Alcoa to buy Alumina in all-stock deal
The US aluminum producer will buy Alumina for US$2.2bn.
Business
Commercial vehicle sales in China soar 79.6% in January
Beijing, China--China's commercial vehicle sales soared 79.6 percent year on year to 324,000 units in January, according to industry data.Specifically,...
Business
Tech revolutionizes professional landscape for women
Women First Jobs offers tailored solutions for women in the UAE, overcoming societal norms and unequal access to opportunities, says...
Business
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Business
Hyperloop progress: Racing ahead or falling behind?
Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023...
- Over a decade after Elon Musk's hyperloop proposal, no commercial operations have begun, and Virgin Hyperloop shut down in 2023 despite significant investments.
- Despite significant investment, Virgin Hyperloop shut down in 2023, as technical challenges, safety concerns, and high costs continue to hinder hyperloop implementation.
Geostrategy
WTO launches US$50m fund for women entrepreneurs in developing countries
ABU DHABI, UAE - The director general of the World Trade Organization, Ngozi Okonjo-Iweala, on Sunday launched a $50 million fund...
- The director general of WTO said the "ground-breaking initiative... embodies our collective commitment to empower women".
- The fund will help businesses run by women in developing countries to adopt digital technologies and increase their online presence.
Business
Binaa Al Bahrain aims to create expansive mixed-use projects
ABU DHABI, UAE – Chairman of Eagle Hills International Mohamed Alabbar has said that US$4 billion joint venture Binaa Al...
- Binaa Al Bahrain aims to contribute to Bahrain’s long-term development through its iconic projects.
- The JV aspires to create job opportunities for Bahrainis in the real estate, hospitality and healthcare.