AI success in life sciences depends on people as much as technology: Bain
Organizations creating the most value from AI are not necessarily those deploying the most technology. Instead, they are redesigning workflows,...
Business
UAE consumers embrace AI shopping but remain wary of autonomous purchases
Visa's latest Stay Secure study also highlighted the rapid rise of social commerce, with 69% of UAE consumers reporting purchases...
Business
Oil prices slump but stock markets mostly higher
Wall Street indices enjoyed solid gains, including the Dow, which mustered a 0.6 percent advance in spite of an eight...
- US and European oil futures fell around four percent after top exporter Saudi Arabia cut the price of its crude, weighing also on shares of energy majors, analysts said
- Drop in oil prices weighed on energy shares, with Shell down 2.9Â percent as investors reacted to mixed trading update ahead of British oil major's annual earnings due next month
Business
Samsung expects profit dip
The tech giant forecasts profit to fall to US$2.1bn for Q4.
- The tech giant said in October that it expected better conditions for the memory market in 2024
- The South Korean firm is expected to release its final earnings report for 2023 at the end of this month
Business
Bitcoin surpasses $47,000, first time since March 30, 2022
Abu Dhabi, UAE - Bitcoin surged above $47,000 on January 9, marking its highest value since March 30, 2022, as...
- Bitcoin, originating in 2008 under the pseudonym Satoshi Nakamoto, operates as a decentralized digital currency
- The robust trading volumes in Bitcoin mining firms signal a heightened investor interest, underlining the increasing prominence of cryptocurrencies
Business
Etihad Airways spreading wings to embrace new skies
"Our goal is to usher in a new era of sustainable growth, anchored by a solid strategic plan," he adds,...
- Etihad plans to expand its global network with new destinations like Boston and Nairobi as part of the 'Etihad Airways 2030' strategy.
- The airline bolsters its strategic growth, providing premium services and connecting Abu Dhabi to 117 international destinations.
Business
CBB Sukuk Al Salam securities oversubscribed by 372%
Manama, Bahrain--The Central Bank of Bahrain (CBB) announced that the monthly issue of the Sukuk Al Salam Islamic securities has...
- With a maturity period of 91 days, subscriptions worth $426 million were received for the $114.36 million issue
- According to Bahrain News Agency, the expected return on the issue is 6.35%, equivalent to the previous issue
Economy
Markets drop as US jobs deal fresh blow to early rate cut hopes
Hong Kong, China - Asian markets stumbled out of the gates Monday, extending last week's grim start to the year, after...
- The keenly awaited non-farm payrolls data Friday showed the world's number one economy remains resilient despite interest rates sitting at a two-decade high
- Equities ended 2023 with a surge as traders bet on a string of reductions this year thanks to falling inflation and a softening of the labor market
Business
Apple’s Vision Pro headset available in US on February 2
WASHINGTON, US - Apple on Monday said it will release its highly anticipated Vision Pro mixed reality headset in the United...
- Announced in June, the Vision Pro will cost a hefty $3,499 before tax, more than double the price of Meta's top-of-the-range Quest Pro headset.
- The headset has been in development at Apple for years, and is seen as a much needed boost to a segment that Facebook-owner Meta has struggled to grow.
Business
Energy companies to test CO2 capture in Brazil undersea oil field
PARIS, FRANCE  - A consortium of Brazilian, British, French and Chinese energy firms will test new technology aimed at capturing CO2...
- The pilot unit will separate oil from CO2-rich natural gas at the bottom of the ocean and reinject the gas directly into the reservoir, TotalEnergies said.
- The company said the high pressure subsea separation (HISEP) technology has the potential to reduce the intensity of greenhouse gas emissions.
Business
A short history of the Boeing 737 MAX
The plane, which suffered a dramatic blowout of a fuselage panel during a flight over the US state of Oregon,...
- Boeing begins developing the MAX in August 2011 to try to catch up with European rival Airbus in the lucrative market for single-aisle planes used on short and medium-haul flights.
- Airbus had been swamped with orders since launching a new version of its A320 model offering fuel savings of up to 20 percent -- the A320 Neo -- a year earlier.
Geostrategy
Saudi Arabia, Belarus ink MoU to boost trade, investment
RIYADH, SAUDI ARABIA - The Federation of Saudi Chambers and the National Center for Marketing and Price Study at the...
- Under the pact, the two parties will exchange information related to trade, business environment, investment, production and export opportunities.
- The two parties will organize joint research activities pertaining to marketing to enhance trade prospects and explore ways of improved cooperation.
AI success in life sciences depends on people as much as technology: Bain
Organizations creating the most value from AI are not necessarily those deploying the most technology. Instead, they are redesigning workflows,...
Business
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Analysis
Israel arms exports to UAE, Bahrain, Morocco rise sharply after 2023
Sales to countries considered part of the Abraham Accords -- the United Arab Emirates, Bahrain and Morocco who signed groundbreaking...
Business
New WEF report reveals how tech convergence will reshape industries
Geneva, Switzerland – The World Economic Forum today released a new report examining how emerging technology combinations are reshaping industries...
Geostrategy
Middle East tourism projected to reach $350 billion by 2030: ATM report
Dubai, UAE – The Middle East’s tourism sector is poised for unprecedented expansion, with a new report predicting a 50...
Business
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Business
Airlines less optimistic for 2025, facing ‘headwinds’: IATA
New Delhi, India -- Airlines on Monday revised down their traffic and profit forecasts for 2025, citing "headwinds" for the...
- The International Air Transport Association (IATA) estimates fewer than five billion air journeys will take place this year, compared with the previously forecast 5.22 billion.
- Commercial aviation revenues are expected to remain below the $1 trillion forecast in the previous December projections, with IATA now reporting $979 billion.
Business
Indian airline IndiGo orders 30 Airbus A350 widebody planes
New Delhi, India -- Indian airline IndiGo said on Sunday it had signed an order for 30 more Airbus A350-900s,...
- The low-cost carrier, India's biggest by market share, is positioning itself as a significant player in the long-haul market.
- The A350 planes, with ranges of up to 15,000 kilometers (9,300 miles), will allow it to expand its network further.
Business
Oil under $65 a boon for consumers, but a burden on producers
London, United Kingdom -- US President Donald Trump's tariffs, his call to "drill baby drill" and especially a decision by...
- The fall in oil prices has contributed to a global slowdown for inflation, while also boosting growth in countries reliant on importing crude, such as much of Europe.
- Cheaper crude "increases the level of disposable income" consumers have to be spending on "discretionary items" such as leisure and tourism, experts say.