Gulf startup hubs: Converging strategies, diverging ambitions
Despite fierce branding as rivals, Gulf startup hubs share capital, policy, and talent structures that are quietly shaping distinct, globally...
Interview
How Sensodyne’s 5th Sense is turning oral care into experience
Haleon delivers better everyday health with humanity, as Sensodyne drives trusted innovation through The 5th Sense, Murtaza Mahfouz tells TRENDS
Business
Equinor profits tumble
The drop was due to sharply lower gas prices and offshore wind problems.
- Adjusted earnings, which excludes certain exceptional elements, fell by 67 percent from the same period last year to $8.0 billion.
- Revenue came in at $26 billion, a drop of nearly $18 billion from last year. Net profit plunged 73 percent to $2.5 billion.
Science
Robot maker dreams of turning sci-fi into reality
Ryo Yoshida's monster-sized drivable robot is hard to park and the $3-million price tag will crush most wallets.
- An imposing 14.7 feet high and weighing 7,716 pounds, "Archax" can be moved and operated by a pilot who clambers up to the high-tech cockpit.
- When manoeuvered in the vehicle mode, "Archax" is capable of moving at 10 kilometers (six miles) per hour, according to the company.
Economy
Saudi Arabia’s economy exceeds US$1trn mark
RIYADH, SAUDI ARABIA – The gross domestic product of the Kingdom exceeded US$1 trillion which displays strong progress towards meeting...
- This positive outcome is attributed to strong investment from the private and public sectors,
- Non-oil revenue growth, ongoing diversification, and economic resilience efforts has also helped.
Business
UAE, Saudi stock exchanges surpass Arab peers with $167bn in gains
Abu Dhabi, UAE -- The financial markets of the United Arab Emirates and Saudi Arabia topped the Arab stock exchanges...
- UAE achieved market gains of about $32.5 billion: $20.7 billion for the Abu Dhabi Securities Exchange (ADX) and $11.8 billion for the Dubai Financial Market (DFM).
- The Saudi Financial Market achieved market gains of about $134.1 billion with a rise in its market capitalization from $2.908 trillion to $3.04 trillion.
Geostrategy
Saudi Arabia selected as member of UN’s AI Advisory Body
New York, United States-- United Nations Secretary-General António Guterres Friday announced the selection of Saudi Arabia to the UN Advisory...
- UN Advisory Body on Artificial Intelligence (AI) consists of 39 members representing government and private and civil-society organizations.
- Shura Council member Dr. Latifa bint Mohammad Al-Abdulkareem will represent the Kingdom at the UN AI Advisory Body.
Business
Qatar records real estate sales contracts worth $84m in five days
Doha, Qatar -- Qatar recorded real estate trading volume in sales contracts worth QR 308 million ($84.59 million) for the...
- Total sales contracts for residential units for the same period was QR 1.09 billion.
- Sales were concentrated in AL Rayyan, Doha, Al Wakrah, Al Daayen, Umm Salal, Al Khor and Al Dakhira municipalities.
Business
UDC posts net profit of US$63m
The net profit has been reported for the first nine months of 2023.
- The company said that the Earnings per Share (EPS) amounted to US$0.01 (QR 0.065) as of September 30, 2023.
- UDC is a Qatari public shareholding company and the master developer of The Pearl and Gewan Islands.
Business
QFZ, Samsung C&T ink MoU
The two will collaborate in green, sustainable technologies.
- Both the parties will work together to achieve sustainability objectives within the free zones in Qatar through energy transition.
- QFZ, Samsung C&T will also explore co-investment opportunities in green infrastructure within the free zones.
Business
PIF to reveal complementary auto projects soon, says top official
Riyadh, Saudi Arabia -- The Public Investment Fund will soon announce complementary projects for the automobile industry, mainly batteries, said...
- PIF is currently focusing on attracting industries related to the automobile system, such as tires, glass, and plastics to Saudi Arabia.
- The PIF has established three factories, Ceer, Lucid and Hyundai, finalizing the first phase of its mega project related to attracting the car manufacturing industry.
Air France-KLM posts profit jump
Turnover increased nearly seven percent to 8.7 billion euros.
- The group reported profit in the third quarter of 931 million euros, double the same period last year, as the group benefited from robust demand for air travel
- Between July and September this year the group transported 26.9 million people - an increase of 7.6 percent compared to the same period the previous year
Gulf startup hubs: Converging strategies, diverging ambitions
Despite fierce branding as rivals, Gulf startup hubs share capital, policy, and talent structures that are quietly shaping distinct, globally...
Interview
Company News
Sovcomflot 2023 net profit $900m  Â
Business
Latest News
Content creation key to awareness, culture, human development: Dubai ruler
Dubai, UAE -- Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, attended part of...
Business
Over 300 keynotes, panels, main sessions at 1 Billion Followers Summit’s third edition
Dubai, UAE - The third edition of the 1 Billion Followers Summit, the world’s first and largest event dedicated to...
Business
Dubai vs Doha: The Battle for Creator Economy Supremacy and Innovation in the Middle East
Dubai’s aggressive initiatives like the 1 Billion Followers Summit and specialized creator visas put it ahead in attracting global talent,...
Business
Most Read
All six lines of Riyadh Metro are now operational
The Royal Commission for Riyadh City (RCRC) announced that the phased rollout of Riyadh Metro culminated as of Sunday, Jan....
- The Royal commission announced the operation of three new stations on the Blue Line
- Riyadh Metro users will be received from 6:00 am until 12:00 midnight
Honda and Nissan expected to begin merger talks
Honda and Nissan were poised Monday to announce the start of talks on a merger to help the Japanese giants...
- Their collaboration would create the world's third-largest automaker
- Honda and Nissan's partnership could include a manufacturing tie-up
Hackers stole US$2.2bn in crypto through 2024, Chainalysis Research
Crypto hackers stole US$2.2bn worth of crypto. This amount was a 21 percent yoy increase, the fourth consecutive year they...
- This stolen amount represents a 21 percent year-on-year increase
- Private key compromises accounted for the largest share of stolen crypto in 2024, at 44 percent