Youth account for over 30 percent of EWEC workforce, utility says
Dubai, UAE -- Abu Dhabi's Emirates Water and Electricity Company (EWEC) said young professionals now make up more than 30...
Business
Turkey’s exports to EU rise 4.7 percent to $55 billion in first half
Dubai, UAE -- Turkey's exports to the European Union rose 4.7 percent in the first half of 2026 to $55...
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Business
Bosch to cut 13,000 jobs
This is a blow to Germany's ailing car sector.
- The cuts, all of which will take place in Germany, represent about 10 percent of Bosch's total workforce in the country.
- Bosch said the layoffs were needed to help make annual savings of 2.5 billion euros ($2.9 billion) in the group's automotive unit.
Business
UAE raises $299 million in Islamic Treasury Sukuk auction
Abu Dhabi, UAE — The UAE Ministry of Finance (MoF), in collaboration with the Central Bank of the UAE, has...
- The auction underscores growing demand for UAE’s dirham-denominated sukuk, reflecting robust investor confidence in its credit and economic outlook.
- With tight spreads over US Treasuries, the sukuk issuance demonstrates competitive pricing while advancing the UAE’s local debt market development.
Business
Aldar ups stake in Aldar Estates
Acquires Modon Holding’s 17.45% stake
- Aldar Estates has become the region’s largest integrated real estate services company with over AED3 billion worth of active contracts.
- The platform manages more than 155,000 residential units, which is a 15 percent increase in the past two years.
Business
The next chapter in branded residences: A deep dive with top experts
Experts predict continued growth, with developers increasingly seeking partnerships for brand prestige, service excellence, and higher premiums.
- Branded residences have grown by a staggering 180 percent globally over the past decade, reaching a total of 1,746 schemes, with 779 completed projects and 967 in the pipeline.
- Hotel brands account for 79 percent of the sector globally, whereof approximately two-thirds are positioned within the luxury segment.
Business
Americans would dominate board of new TikTok US entity: W.House
A deal for the Chinese parent company of popular video-sharing app TikTok to sell its US operations would see the...
- The United States has forcefully sought to take TikTok's US operations out of the hands of Chinese parent company ByteDance for national security reasons
- Under President Donald Trump's predecessor Joe Biden, the US Congress passed a law to force ByteDance to sell its US operations or face a ban of the app
Business
Top music body says AI firms guilty of ‘willful’ copyright theft
Paris, France -- AI companies have sucked up the world's entire music catalogue and are guilty of "willful, commercial-scale copyright...
- AI music generators such as Suno and Udio can produce tracks with voices, melodies and musical styles that echo those of original artists such as the Beatles and Mariah Carey.
- The Recording Industry Association of America, a US trade group, filed a lawsuit in June 2024 against both companies.
Business
Stocks rise on $5 billion Nvidia-Intel deal, Fed rate cut
Nvidia announced a $5 billion investment in struggling US rival to jointly develop chips for PCs and data centers. The...
- Investors were also reacting to Wednesday's US central bank decision to lower rates by 25 basis points, its first cut of the year.
- The decision to cut came even as US inflation runs well above policymakers' two-percent target, but analysts said the main focus was on the jobs market.
Business
Trump says US, China ‘have a deal’ on TikTok
"We have a deal on TikTok, I've reached a deal with China, I'm going to speak to President Xi (Jinping)...
- The deal was negotiated over two days of talks in Madrid between US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng.
- A US federal law requiring TikTok's sale or ban on national security grounds was due to take effect the day before Trump's inauguration on January 20.
Business
Elon Musk buys $1 billion in Tesla shares, stock prices go up 6%
New York, United States - CEO Elon Musk bought about $1 billion worth of shares in Tesla, according to a...
- The purchase came the same month Tesla unveiled a proposed compensation package for Musk that could top $1 trillion if he delivers on his vision for stratospheric growth
- Tesla chair and close Musk associate Robyn Denholm has made several business media appearances in recent days, defending the pay package
Business
US says ‘framework’ deal with China on TikTok ownership
Donald Trump said -- without directly naming the social media giant -- that a deal was reached with a "certain...
- Trump added on his Truth Social network that he would speak to Chinese President Xi Jinping on Friday.
- A federal law requiring TikTok's sale or ban on national security grounds was due to take effect the day before US President Donald Trump's inauguration on January 20.
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Youth account for over 30 percent of EWEC workforce, utility says
Dubai, UAE -- Abu Dhabi's Emirates Water and Electricity Company (EWEC) said young professionals now make up more than 30...
Business
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2PointZero posts profit surge
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UAE travel sites improve email fraud protections: Proofpoint
Dubai, UAE -- The UAE's travel sector has strengthened its defences against email fraud ahead of the peak summer booking...
Business
Dubai economic zones post highest-ever trade performance in 2025
Dubai, UAE -- Dubai's integrated economic zones recorded their strongest-ever trade performance in 2025, with total trade rising 46% year-on-year...
Business
Microsoft data highlights Qatar’s rapid Artificial Intelligence growth
The finding place Qatar among the top ten countries globally for practical AI usage. Qatar's AI market reached approximately $59...
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Global travel firms reaffirm confidence in UAE tourism growth
Dubai, UAE --- Global travel companies and tourism industry leaders expressed confidence in the UAE's tourism sector during the "Engage...
- Elevate World launched Yara AI to support tour operators, hotels and tourism stakeholders across the wider travel ecosystem.
- Wynn Al Marjan Island updated industry partners on construction progress and international trade engagement ahead of opening.
Business
Oil steadies while gold and bitcoin extend weekly losses
Oil markets were supported by expectations that ongoing talks between the United States and Iran could help secure energy flows...
- U.S. crude remained more than 6% higher for the week despite Thursday's sharp decline on optimism over Iran talks.
- Record outflows from U.S. spot bitcoin ETFs in May accelerated cryptocurrency losses as investors shifted toward technology stocks.
Business
UAE property market draws global investors despite regional conflict
The UAE Property Investment Index, conducted by U.S.-based Penta Group, found that 56% of global property investors expressed serious interest...
- More than half of surveyed investors expressed serious interest in UAE property, surpassing investor interest levels in the United States.
- Indian, Egyptian and Saudi investors showed particularly strong demand, while European buyers increasingly view the UAE as a preferred overseas market.