Nvidia expands AI empire with Groq talent grab
San Francisco, United States -- Nvidia has hired the leadership of a promising AI chip startup, a statement said Wednesday,...
Business
Warner Bros rejects Paramount bid, sticks with Netflix, says terms of Netflix merger were better
Warner Bros. Discovery on Wednesday rejected a hostile takeover bid by Paramount launched last week to trump plans by streaming...
Business
Business
Real estate trading volume in Qatar exceeds US$88m in week
DOHA, QATAR - The volume of real estate trading in sales contracts at the Department of Real Estate Registration at...
- Total sales contracts for residential units in the Real Estate Bulletin for the same period is US$19.7 million.
- A weekly bulletin shows that the list of real estate properties traded for sale included vacant lands, houses, hotel.
Business
Container traffic rises 11.66 percent in September, says Mawani Â
RIYADH, SAUDI ARABIA - The Saudi Ports Authority (Mawani) reported an 11.66 percent surge in container traffic across its trade...
- Passenger traffic jumped 79.29 percent over the preceding year’s figure of 40,679 passengers to hit 72,934 passengers in 2023.
- Mawani’s ports saw 11.83 percent additional vessels dock at its berths with a tally of 1,040 ships contrary to last year’s 930 ships.
Geostrategy
Qatar signs joint cooperation agreements with IMF on SDRs
Dubai, UAE - Qatar has signed two agreements with the International Monetary Fund (IMF) on its contributions towards IMF's poverty...
- Under one of the agreements, Qatar's contribution will be a loan from the special drawing rights account, a soft loan (an implicit contribution to the aid).
- Under the Resilience and Sustainability Trust fund agreement, contributions will be in the form of subscription packages consisting of loans, deposits and reserves.
EasyJet, Airbus sign US$20bn deal
The no-frills airline will buy 157 aircraft from Airbus.
- The airline on Thursday said it had "entered into conditional arrangements" with European planemaker Airbus for 157 aircraft
- Together the deal was worth $19.9 billion and "will deliver lower fuel burn, CO2 emissions and operating costs per seat", EasyJet said
Business
Jarir’s 9M profit down marginally
The fall was attributed to an increase in non-operating expenses.
- The third-quarter net profit rose by 8 percent to SAR 296.3 million, from SAR 273.72 million in Q3 2022, driven by a 4.8 percent rise YoY in sales.
- Total shareholders’ equity, no minority interest, stood at SAR 1.79 billion as of Sept. 30, 2023, down from SAR 1.80 billion a year earlier.
Business
Edge signs deal with Saha Istanbul
It will deepen cooperation between the UAE and Turkey.
- The event being held at the Ankara Congress Centre will also facilitate several introductory and exploratory meetings between Edge and Turkish companies
- Chairman of Edge said that the alliance with Saha Istanbul and its member firms will enable Edge to tap into Turkey's rich ecosystem and robust supply chain
Business
Pro-business policies make UAE global investment hub
"While the world has abundant funds, there's a need for innovative strategies to channel them into vital sectors like sustainable...
- Rebeca Grynspan, Secretary-General of UNCTAD, lauds the UAE as a leading global investment destination
- With the upcoming World Investment Forum in Abu Dhabi, the focus sharpens on sustainable investment
Business
Dubai emerges as global hotspot for startup innovation
The emirate has transformed into a hub of entrepreneurship and ingenuity over the years. Renowned for its ambitious vision and...
- From being a trading post to its current status as a tech and green business center, the emirate offers boundless opportunities, especially for those with pioneering spirit
- Dubai, with its strategic location, serves as a global gateway for businesses, bolstered by progressive leadership and initiatives like the Dubai Future Accelerators
Business
Birkenstock to list on NYSE
The German sandals maker has set its share price at $46.
- A total of 32.26 million ordinary shares will be offered in its initial public offering, trading under the symbol BIRK
- Birkenstock recorded revenues of $1.17 billion for the nine months ending June 30, up 21 percent from the same period in 2022
Business
ExxonMobil to acquire Pioneer
This is the company's biggest takeover since 1990 acquisition of Mobil.
- ExxonMobil will buy Texas-based Pioneer for $59.5 billion based on ExxonMobil's closing price on October 5.
- ExxonMobil said the takeover is the company's biggest since the late 1990s acquisition of Mobil by Exxon.
Nvidia expands AI empire with Groq talent grab
San Francisco, United States -- Nvidia has hired the leadership of a promising AI chip startup, a statement said Wednesday,...
Business
Company News
Burjeel Holdings net profit up
Business
Latest News
Lufthansa profit spikes in 2023
Business
Telegram chief Pavel Durov arrested at French airport: officials
Paris, France - French police arrested Telegram chief executive Pavel Durov on Saturday at an airport near Paris for alleged offences...
Business
China’s robot makers chase Tesla to deliver humanoid workers
Beijing, China - China dominates the market for electric vehicles. Now it's chasing in the race to build battery-powered humanoids...
Business
Anthropic hit with class-action lawsuit over copyright infringement
Anthropic, the Amazon-backed artificial intelligence startup, on Monday, was hit with a class-action lawsuit in California federal court over alleged...
Business
Most Read
Social media platform X to shutter local operations in Brazil
Social media platform X, formerly Twitter, will shutter its local operations in Brazil following a bitter legal tussle over the...
- A post Saturday from X's Global Government Affairs department said Moraes had "threatened our legal representative in Brazil with arrest if we do not comply with his orders."
- It said the office closure was necessary "to protect the safety of our staff," adding, "the responsibility lies solely with Alexandre de Moraes."
Economy
Crypto crime drops 19.6% as digital ecosystem matures
Advanced blockchain analysis tools, such as those provided by Chainalysis, are empowering law enforcement agencies and enterprises to counter the...
- Research by Chainalysis found that flow of crypto funds to legitimate services has reached their highest levels since 2021
- Aggregate illicit activity over the same period fell by an impressive 19.6 percent
West tells Iran to ‘stand down’ Israel attack threats; Tehran says ‘no way’
With tensions soaring in the Middle East, the United States says that Iran along with its proxies might attack Israel...
- Iran and its Lebanese ally Hezbollah have vowed revenge for the killings of Ismail Haniyeh and Fuad Shukr
- The White House warned that a "significant set of attacks" by Iran and its proxies was possible as soon as this week