Citizen-consumers are redefining the global reputation of multinationals: Ipsos study
The report, Impacts of Multinational Corporations: What Citizen-Consumers Want from Foreign Companies Doing Business in Their Country, draws on a...
Geostrategy
The new knowledge economy belongs to super users: Michael Wolf
Activate Consulting CEO Michael Wolf tells TRENDS how AI, media and shifting consumer behaviour are driving the next knowledge economy.
Business
Business
Bank Albilad posts net profit
The bank’s January-September 2023 profit was $469 million.
- The bank reported a 3 percent year-on-year increase in gross operating income during January-September 2023 period.
- The rise in gross operating income was mainly due to higher net income from investing and financing assets.
Business
Elon Musk teases audio and video calls at X
"Early version of video and audio calling on X," Musk wrote in a post that contained a screen capture showing...
- Musk announced in August that voice and video calls were in the works at X in what was seen as a step towards turning the former Twitter into an "everything app"
- The calling features of X, previously known as Twitter, would work on iOS, Android, Mac and PC systems, and no phone number would be needed, he said at the time
Business
Volvo Cars posts profit
Its operating profit shot up to US$400m for the third quarter.
- The car maker reported an operating profit of 4.5 billion kronor ($400 million) for the third quarter -- up from two billion kronor a year earlier
- Volvo Cars saw a more than fourfold increase in net income for the period, reaching 3.2 billion kronor, compared to 665 million for the same period a year before
Business
Mercedes-Benz profit slumps
The carmaker's net profit plunged 7% to US$3.9bn in Q3.
- The company's revenue dropped 1.4% to $39.21bn , partly because passenger car sales were around five percent lower in the quarter
- The German automaker left its outlook for 2023 unchanged, with revenue and operating profit seen at the same level as last year
Meta quarterly profit jumps but it sees volatility in ad market
The number of people using Facebook monthly rose slightly to 3.05 billion in a year-over-year comparison while monthly active users...
- Meta made a profit of $11.6 billion as ad revenue climbed 23 percent to $34 billion when compared to the same period a year earlier
- Meta shares, which closed the formal trading day down, fell more than three percent further in after-hours trades to $289.50
Business
The Arab Open Banking market to grow by 25% annually over next 5 years: report
Dubai, UAE - The Arab Open Banking is expected to experience 25% annual growth over the next five years, a...
- The Arab Monetary Fund will support Arab central banks in adopting effective frameworks for Open Banking and Finance initiatives
- The report covers aspects such as data sharing, consent mechanisms, data security, identification of regulated Third Party Providers
Business
ADCB profit up 22 percent
The bank's operating income rose 23% to US$3.32 billion.
- The bank said that net interest income rose 8% to $865 million QoQ and 24% YoY while non-interest income of $285 million declined 7% QoQ
- Its CEO said the bank delivered strong growth in the first nine months of the year, with net loan climbing by10% i and sound growth in CASA deposits
Business
Boeing posts Q3 loss
The firm trims full-year forecast for deliveries of the 737.
- The US aviation giant, which has struggled with manufacturing and quality control issues in recent years, reported a third-quarter loss of $1.6 billion
- The latest issue with the 737 is the result of misshapen holes drilled in a part of the fuselage that helps maintain plane pressure.
Business
UAE banks’ investments hit record high in Aug to reach $159bn
Abu Dhabi, UAE -- UAE banks' investments surpassed AED 580 billion, hitting a record high in August 2023, according to...
- Banks investments also increased by AED 58 billion or 11 percent year-to-date compared to AED 527.4 billion at the end of 2022.
- Bonds held until maturity accounted for the largest share of bank investments at 47 percent, reaching AED 276 billion at the end of August 2023.
Business
Thuraya, nybl sign MoU
They will deploy AI in Thuraya and Yahsat satellites
- nybl provides various AI and ML sector-specific modules, including Oil and Gas, Security and Surveillance, with robust support for ESG.
- Under the MoU, both parties will focus on testing, certifying, and enabling the nybl platform over Thuraya and Yahsat satellites.
Citizen-consumers are redefining the global reputation of multinationals: Ipsos study
The report, Impacts of Multinational Corporations: What Citizen-Consumers Want from Foreign Companies Doing Business in Their Country, draws on a...
Geostrategy
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Du, Samsung ink agreement
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Nissan, Honda in tie-up for EVs
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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...
Cybersecurity in 2024: From talent shortages to resilience against emerging tech risks
In 2024, cybersecurity remained central, addressing skill gaps and the impact of generative AI. A Strategic Cybersecurity Talent Framework offered...
Fifth France-Arab Summit: Forging partnerships for a sustainable tomorrow
As the world grapples with uncertainty, the summit offers a much-needed space for cooperation and innovation, led by the Franco-Arab...
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Business
Saudi Arabia partners with World Bank to launch global knowledge hub in Riyadh
According to World Bank Group President Ajay Banga, “The new Knowledge Hub being created by the World Bank Group and...
- The initiative positions Saudi Arabia as a central player in facilitating the global exchange of transformative ideas
- The agreement was formalized with the signing by World Bank Group President and Saudi Arabia’s Minister of Commerce
Software solutions that minimize cost overruns, delays in construction
Project management software solutions have emerged as essential tools to streamline construction operations, enhance efficiency, and improve project delivery. They...
- The construction project management software solutions market reched US$17 billion in 2024
- Leveraging digital tools can lead to 10-20 percent savings on overall project costs
Step into the future of sustainable smart city development
Pavegen, a global kinetic energy company, unveiled its innovative “Solar+” tile in Dubai. This tile harnesses the power of movement,...
- Pavegen tiles have harnessed the power of over 1 billion footsteps in smart cities
- The company aims to bring the price down to sub US$1,000 per sqm in the future