Sharjah Islamic Bank raises $500 million through five-year Sukuk
Sharjah Islamic Bank (SIB) has issued $500 million of five-year Sukuk, attracting orders worth $1.3 billion, or 2.6 times the...
Business
UAE tops Arab Digital Economy Index 2026
The UAE topped the Arab Digital Economy Index 2026, with the assessment highlighting regional gains in infrastructure, digital government and...
Business
Business
Amazon tests ‘ultra-fast’ deliveries in two US cities
San Francisco, United States - Amazon on Monday began testing "ultra-fast" deliveries in two US cities, giving some shoppers the...
- Amazon is piloting its new “Amazon Now” feature in select neighbourhoods, offering items ranging from groceries to electronics
- Delivery fees for the ultra-fast service start at $3.99 for Prime members and $13.99 for non-members
Business
Bid by Netflix for Warner Bros Discovery signals streaming giant’s ambition to dominate global content production
Streaming giant Netflix has made a mostly cash offer to buy TV and film group Warner Bros Discovery as the...
- Netflix joined Paramount Skydance and Comcast, the owner of NBCUniversal, in a second round of an auction that was being negotiated throughout the US Thanksgiving holiday
- The parent company of HBO, CNN and the Warner Bros film studio officially put itself up for sale in October after receiving multiple unsolicited offers
Business
UAE’s AI Office announces Google Gemini as top model in ‘AI in the Ring’ Index
Dubai, UAE - The UAE’s Artificial Intelligence, Digital Economy, and Remote Work Applications Office announced that Google Gemini has ranked...
- Gemini earned the top ranking following a review of over 400 questions and 5,200 generated responses from 11 major language models
- A Committee of Emirati experts evaluated the outputs to identify which models demonstrated the strongest cultural understanding
Business
Meta to remove under-16 Australians from Facebook, Instagram on December 4
Australians younger than 16 will be removed from Facebook and Instagram on December 4, tech giant Meta said Thursday, as...
- From December 10, Australia will force social media platforms, including Facebook, Instagram and TikTok, to remove users under the age of 16 or face hefty fines
- "From today, Meta will be notifying Australian users it understands to be aged 13-15 that they will lose access to Instagram, Threads and Facebook," Meta said in a statement
Business
Samsung plans $310 bn investment to power AI expansion
Seoul, South Korea -- South Korean conglomerate Samsung unveiled on Sunday a plan to invest $310 billion over the next...
- The business group's flagship Samsung Electronics is already one of the world's top memory-chip makers, providing crucial components for the AI industry.
- South Korea is also home to SK hynix, another key player in the global semiconductor market.
Business
EU approves ADNOC’s purchase of Germany’s Covestro
Brussels, Belgium -- The European Commission on Friday greenlit the takeover of German chemical firm Covestro by UAE state oil...
- Plastics maker Covestro accepted a bid from the Abu Dhabi National Oil Company in October, valuing the company at 12 billion euros ($14 billion).
- ADNOC has promised to inject around 1.2 billion euros into the chemicals firm through the issuance of new shares under the terms of the takeover.
Business
Google to invest $6.4bn
The investment is its biggest-ever in Germany.
- Google's plans include a new data center and expansion of an existing center in the western state of Hesse, providing computing power for artificial intelligence.
- It also plans to expand its offices in Berlin, Frankfurt and Munich, and outlined various projects aimed at reducing its greenhouse gas emissions.
Business
Pfizer poised to buy Metsera
The pharma giant improved its offer to $10bn.
- The Danish firm said Saturday that it "does not intend to make an increased offer to acquire Metsera."
- The company "will continue to assess opportunities for business development and acquisitions that... further its strategic objectives," it said.
Business
Ozempic maker lowers outlook
The company posted tepid Q3 results.
- It marked the latest bad news for the pharmaceutical giant, which has recently changed its CEO, announced plans to lay off 9,000 employees and replaced more than half of its board.
- The group now expects full-year sales in 2025 to grow by eight to 11 percent, versus the eight to 14 percent range it had expected previously, the company said.
Business
US AI firm Palantir announces joint venture in Dubai
Dubai, United Arab Emirates -- US software firm Palantir launched a joint venture with the Dubai government's investment arm on...
- The joint venture, named Aither, was unveiled a day after Microsoft announced $15.2bn in AI and cloud computing investments in the UAE, which seeks to become a global AI leader.
- Palantir has a reach that spans the global economy, with banks, hospitals, the US government and the Israeli military among its ever-expanding client roster.
Sharjah Islamic Bank raises $500 million through five-year Sukuk
Sharjah Islamic Bank (SIB) has issued $500 million of five-year Sukuk, attracting orders worth $1.3 billion, or 2.6 times the...
Business
Company News
Sanad posts record revenue
Business
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e& posts 11.6% revenue growth
The H1 net profit hits $1.63 billion.
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Research
Saudi mega-projects could generate 35% of power needs through on-site renewables
A BCG report says rooftop solar and decentralized renewable systems can lower electricity costs, reduce emissions and help developers meet...
- Study says early renewable integration avoids costly retrofits while improving long-term project returns through flexible financing options.
- Report highlights Saudi regulatory reforms and strong solar resources as key drivers accelerating renewable adoption across urban developments.
Analysis
Big Tech faces AI spending test as earnings season gathers pace
The Magnificent Seven’s 5.7% fall last week shows that investors are no longer rewarding headline beats alone, they want proof...
- Microsoft has been the second-worst performer from the Mag 7 so far this year, with investors rattled by its 2026 capex guidance heading towards USD$190 billion.
- Meta faces the same spending question, with this year's outlay guided at up to USD$145 billion and next year's outlay potentially far larger.
Business
UAE investors drive half of Sharjah property trade in first half
Dubai, UAE -- UAE investors accounted for more than half of Sharjah's real estate trading value in the first half...
- Women increased their presence across ownership and transaction activity, with younger investors recording particularly strong participation levels.
- Official report attributes investment growth to supportive legislation, urban development and expanding portfolio of quality real estate projects.