Bain identifies four priorities for sovereign wealth funds as assets approach $30 trillion
State-backed investors are expanding beyond traditional investment models, increasing exposure to alternatives, AI and direct deals while balancing returns with...
Economy
Gold extends winning streak as oil and dollar weaken
The U.S. Dollar Index fell to 99.53, giving back part of the gains it had recently recorded on safe-haven demand....
Business
Economy
Qatar’s IPI declines by 1.5 percent in November 2023
DOHA, QATAR – The Industrial Production index (IPI) of Qatar in November 2023 reached 91.7 points which is a fall...
- The IPI, which is released by the Planning and Statistics Authority, is a short-term quantitative index that measures the growth of various industrial sectors in the economy.
- The relative weight of main economic sectors under this indicator include mining (82.46 percent), manufacturing (15.85 percent), electricity (1.16 percent), water (0.53 percent).
Business
EDGE Group, São Paulo government partner on public security initiative
Abu Dhabi, UAE -- EDGE, one of the world’s leading advanced technology and defense groups, has announced that it will...
- The partnership was announced during a high-level delegation visit by senior government members to EDGE Group headquarters in Abu Dhabi.
- The ‘Proof of Concept’ (PoC), with an initial phase of six months to validate the plan and facilitate adjustments, will have three strategic targets.
Business
Oman Investment Authority launches fund worth US$5.19 billion
Muscat, Oman--The Oman Investment Authority (OIA) has unveiled a new fund called “Future Fund Oman” valued at US$5.19 billion. The...
- The fund, according to Oman News Agency, has a capital of $5.19bn to be utilised over five years, with $1bn every year
- It will allocate 90 percent of its capital to invest in new or existing investment projects that prove to be economically viable
Europe new car sales rebound in 2023: industry group
Automakers are facing a 2035 deadline set by the European Union to phase out sales of new combustion engine vehicles....
- Sales of new electric cars shot up by 37 percent year-on-year and accounted for 14.6 percent of those overall, European Automobile Manufacturers' Association said
- Figures marked a stark turnabout from those of 2022, when new vehicle registrations dropped to their lowest levels since 1993 as component shortages hindered automakers
Samsung’s AI pivot
Part of the company's bid to reclaim smartphone throne.
- Mobile devices will become the primary access points for AI, with Samsung aiming to be a leader on that path, Samsung president T.M. Roh said
- The premium S24 Ultra unveiled at an event was said to have the capability to translate foreign language phone calls and texts while they were taking place
Business
Bayer to cut jobs in Germany
The slashing of jobs follows huge third-quarter losses.
- According to a company press release, the job cuts will be enforced immediately and completed by the end of 2025
- The pharmaceutical giant, the makes Aspirin, employs around 22,000 in Germany and more than 100,000 worldwide
Business
Apple loosens grip on iPhone apps
Apple will permit developers to include buttons or links in apps.
- The move came after the US Supreme Court on Tuesday declined to hear appeals by Apple and Epic of a lower court ruling in which the iPhone maker was seen as the victor.
- Epic in 2020 launched a case aiming to break Apple's grip on the App Store, accusing the tech giant of operating a monopoly in its shop for digital services
Business
Sharjah Chamber discusses collaboration with AAAID on trade, investment
Sharjah, UAE--The Sharjah Chamber of Commerce and Industry (SCCI) has held discussions with the Arab Authority for Agricultural Investment and...
- The discussions centered upon supporting business community and developing the agricultural sector and fostering trade and investment
- The two sides discussed initiatives in creating a conducive business environment for innovation and investment in the agricultural sector
Business
Aramco chief expects oil demand to rise by 1.5 mbpd in 2024
Riyadh, Saudi Arabia - Saudi Aramco's President and CEO, Amin Nasser, anticipates a surge in global oil demand, projecting an...
- Amin Nasser pointed out that the global oil market is poised for a supply shortage as consumer stockpiles have dwindled by 400 million barrels over the past two years.
- He acknowledged that while global oil markets can manage short-term disruptions in the Red Sea, sustained attacks on ships could lead to a shortage of tankers
Interview
Government, financial sectors top cyberattack targets
The Middle East's oil and gas sector also stays on hit list of of cyberattackers, Trellix CEO Bryan Palma tells...
- The Middle East's oil and gas sector is a key target for cyberattacks, Trellix CEO Bryan Palma tells TRENDS, stressing the need for widespread cybersecurity investments.
- He emphasizes the critical risks faced by the public sector and financial services, and discusses how XDR and AI technologies are advancing cybersecurity in the region.
Bain identifies four priorities for sovereign wealth funds as assets approach $30 trillion
State-backed investors are expanding beyond traditional investment models, increasing exposure to alternatives, AI and direct deals while balancing returns with...
Economy
Company News
TikTok’s US future uncertain
Business
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Tesla Q1 sales sink 13 percent
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
Trump metal tariffs wreak havoc on US factory
Belcamp, United States -- In the sweltering US summer, metal containers decorated with snowmen and sleighs are taking shape --...
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...
Business
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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
Business
Roblox’s Grow a Garden explodes online video game numbers
Paris, France -- A gardening game created by a teenager on online platform Roblox has attracted a record 21 million...
- More than 21 million players connected to Grow a Garden at the same time on June 21, buying seeds to cultivate a little patch of virtual land, harvesting crops.
- That shattered the record held by the adrenalin-packed Fortnite, which attracted 15 million concurrent users (CCUs) during an event in late 2020.
Business
Amazon tycoon Jeff Bezos, his fiancee Lauren Sanchez arrive in Venice for lavish wedding
Bezos, 61, and Sanchez, 55, are said to have booked out the city's finest hotels for a star-studded guest list...
- Bezos, the world's fourth-richest person, and his former television anchor bride-to-be were seen stepping off a water taxi at the Aman Hotel on the Grand Canal
- Bezos, 61, and Sanchez, 55, are said to have booked out the city's finest hotels for a guest list rumoured to include Leonardo DiCaprio, Mick Jagger, and Kim Kardashian