Oil prices seesaw as investors await Iran response to US strikes
US stocks edged higher while European markets retreated and Asian equities were mixed, with markets keeping a close eye on...
Geostrategy
How travel brands can target high-intent travelers in the MEA region
As tourism booms across the Middle East and Africa, travel brands face fierce competition. Success now means using data-driven, personalized...
Opinion
Business
Dar Alarkan 2024 profit up 32%
The company's net profit increased by 81.5 percent in Q4 2024.
- Argaam reported that the company's revenue increased by 38.9 percent year-on-year (YoY) to SAR 3.75 billion in 2024 driven by higher real estate sales and rental income.
- The company attributed the increase to stronger sales revenue, supported by higher property sales, along with growth in rental income.
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
Oil prices seesaw as investors await Iran response to US strikes
US stocks edged higher while European markets retreated and Asian equities were mixed, with markets keeping a close eye on...
Geostrategy
Company News
Latest News
Etihad Q1 profit $187 million
Business
Yalla Group Q1 revenue $83m
Business
ADNOC Drilling secures $1.15bn contract
The contract for two jack-up rigs begins in the second quarter.
Business
World’s longest diamond necklace set to break Guinness record at Sharjah show
Sharjah, UAE – Exhibitors at the 55th Watch and Jewelry Middle East Show, scheduled from May 28 to June 1,...
Business
ADNOC’s listed companies post over $2.3 billion net profit in first quarter
Abu Dhabi, UAE -- ADNOC Group's publicly traded portfolio companies combined to deliver over $2.3 billion (AED8.4 billion) in first...
Business
Most Read
Business
Trump expands Apple tariff threat to all smartphones
Washington, United States -- US President Donald Trump on Friday threatened Apple and other smartphone manufacturers with a 25 percent...
- Trump initially said the tariff would apply only to Apple -- an unusual move to single out a specific company in trade policy.
- While Apple designs its products in the United States, most iPhone assembly occurs in China, which remains embroiled in a trade war with the United States.
Business
Anthropic’s Claude AI gets smarter — and mischievious
San Francisco, United States -- Anthropic launched its latest Claude generative artificial intelligence (GenAI) models on Thursday, claiming to set...
- "Claude Opus 4 is our most powerful model yet, and the best coding model in the world," Anthropic chief executive Dario Amodei said.
- Opus 4 and Sonnet 4 were described as "hybrid" models capable of quick responses as well as more thoughtful results that take a little time to get things right.
Business
Trump threatens Apple with a 25% tariff if iPhones aren’t made in US
Washington, United States -- US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones...
- Trump's sweeping tariffs on major US trading partners have roiled global markets and upended international commerce.
- Trump's comments Friday echo statements he made last week while on a trip to Qatar, urging Apple to bring iPhone production to US shores.