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
New CEO appointed in SRC
Majeed Al Abduljabbar will be the CEO from January 1, 2024.
- Al Abduljabbar has been working in the banking sector for over 15 years, including in the HSBC Bank in London.
- He also contributed to establishing the Department of Innovative Investment Solutions at SABB (now SAB).
Business
Mobily 9M 2023 profit up 41%
Revenues for the period grew by 7.5 percent year-on-year.
- Higher top line pushed gross profit up 3.4 percent YoY to SAR 7.1 billion. Operating profit jumped 31.6 percent YoY to SAR 1.97 billion.
- Reflecting the increase in interest rate, finance charges for the current period increased by 22 percent YoY to SAR 510 million.
Business
Dubai’s top 10 land deals in 2023 is worth US$2.3bn
DUBAI, UAE – A real estate brokerage based here has compiled the 10 largest land deals in the Emirate since...
- The recovery in land sales reflects developers’ efforts to acquire the best plots for launching real estate and commercial projects.
- Several sale deals in Dubai focus on investors’ desire to buy land for investment purposes and get high returns as prices continue to rise.
Business
Emaar EC and Orascom to develop tourism destination
Dubai, UAE -- Emaar, The Economic City, the master-developer of King Abdullah Economic City (KAEC), has signed a strategic agreement...
- Orascom will be the main investor to develop a world-class mix-use tourism city across a mega-parcel of 9.5 million square meters.
- The project will feature a marina, a fully-fledged downtown along with resorts, high-end residential developments.
Business
Multiply Group profit soars
Its Q3 revenue posted a 24 percent jump to US$96 million.
- The group posted a 337 percent increase in net profit, excluding fair value changes, to $90.12 million for Q3 2023
- It acquired a 55% majority stake in Media 247, a leading UAE outdoor advertising firm, at an investment of $61.26 million
Navigating the complex landscape of cyber insurance
The cyber insurance industry will persistently evolve as the threat landscape expands. As the criteria for insurability rise, enterprises shouldn't...
- Due to escalating cybercrime, insurance premiums have surged, with 85% of organizations falling victim to ransomware attacks in 2022 alone.
- Insurance is a part of a broader digital resilience strategy, and businesses confront a 'reality gap' between perceived and actual data protection levels.
Business
EasyLease Q3 revenue $57.66m
It's net profit was AED 26.5 million ($7.21m) in Q3 2023.
- it's net profit was AED 26.5 million ($7.21m) in Q3 2023, compared to AED 32.73 million ($8.91m) YoY over Q3 2022.
- Cost-effectiveness, exceptional maneuverability and expedited travel, are driving the popularity of two-wheelers in the UAE.
Business
Mawani, SGP ink US$266m pact
The aim is to establish multiple logistics zones in the Kingdom.
- The objective is to establish logistics zones that will enhance efficiency of the sector, improve service quality and generate additional job opportunities.
- This initiative is expected to strengthen the role of the logistics sector in supporting the national economy.
Economy
World Investment Forum 2023 ends with call for greater private and public investment
Abu Dhabi, UAE – UNCTAD's 8th World Investment Forum came to a close on Friday in Abu Dhabi with a...
- The week-long event saw the convergence of 8,000 participants, including government officials, international organizations, policymakers, 700 CEOs and investors
- Held against the backdrop of a fragmented global economy, the forum addressed the profound impact on global trade and investment
Business
Volkswagen revenue up
The automaker made sales to the tune of US$83.5bn in Q3.
- The automaker's operating profit for the quarter also increased, to around $5.19 billion, on an operating margin of 6.2 percent.
- The company's sales saw a 20-percent jump in Western Europe, delivering 2.34 million vehicles over the July-September period
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
Company News
Adidas posts 2023 loss
Business
Volkswagen profit up
Business
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AI-Driven technologies drive operational excellence, helping meet sustainability goals
Industrial AI and digital technologies are revolutionizing energy infrastructure, helping companies across asset-intensive sectors achieve operational excellence
Business
Altegio in UAE market to local boost digital transformation
Unlike other automation platforms that redirect customers to third-party websites, Altegio keeps booking processes within the client’s own ecosystem.
Business
Global VC investment falls to lowest level in nearly seven years
 Global VC investment fell from a five-quarter high of US$95.5 billion in Q2'24 to a nearly seven-year low of US$70.1...
Business
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Science
Microsoft unveils autonomous AI agents for business tasks
San Francisco, United States - Microsoft on Monday said it was enhancing its AI offerings with new autonomous agent capabilities as...
- AI agents are specialized programs designed to perform routine tasks autonomously, such as sifting through sales leads or handling customer service inquiries
- The AI agent has become the newest buzzword for major software companies that are investing billions in powerful AI models, which they believe will shape the future of computing
Business
Netflix adds millions of subscribers but growth slows
San Francisco, United States - Netflix on Thursday said it added more than five million subscribers in the recently ended quarter...
- The streaming juggernaut said it ended September with 282.7 million subscribers, reporting a profit of $2.4 billion
- Netflix shares rose nearly five percent to $720.75 in after-market trades, trading at slightly more than double the price from a year earlier
Boeing to cut 10% of workforce
The company has projected a large third-quarter loss.
- The aviation giant must "reset our workforce levels to align with our financial reality," Chief Executive Kelly Ortberg said
- The company announced a series of belt-tightening measures and production delays in the wake of the nearly monthlong strike of 33,000 workers