Gamers get hold of Nintendo’s hotly awaited Switch 2
Tokyo, Japan -- Gamers finally got their hands on Nintendo's new Switch 2 on Thursday, the console that could score...
Business
Meta secures nuclear energy in 20-year Illinois plant deal
Washington, United States -- Facebook owner Meta announced Tuesday a 20-year nuclear energy agreement with US-based Constellation Energy to secure...
Business
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.
- Altegio’s platform offers over 30 specialized tools that streamline operations across marketing, sales, finance, and team management
- Founded in 2022 by a group of international entrepreneurs, Altegio has rapidly grown to serve over 10,000 businesses across 89 countries
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...
- Global VC investment drops from US$95.5 billion to US$70.1 billion quarter-over-quarter
- AI accounts for six of ten largest VC deals globally in Q3'24
Business
Troubled Boeing faces investors and awaits strike vote
Boeing, the beleaguered aviation giant announces what is expected to be its biggest quarterly loss in four years, and striking...
- Analysts estimate a loss of US$6.1 billion, its biggest since the fourth quarter of 2020
- On October 15, Boeing announced it plans to raise up to US$25 billion to navigate the period
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
Business
Riyadh Season 2024 signs sponsorship agreements with local, global partners
Riyadh, Saudi Arabia-- A signing ceremony for Riyadh Season 2024 sponsorships was held on Thursday at Via Riyadh.General Entertainment Authority...
- Riyadh Season provided a sponsorship worth SAR2 million to the Association of Saving Food
- It is a major opportunity for companies to achieve maximum exposure in global and local markets
Business
US considering Google breakup following monopoly ruling
The US Department of Justice (DOJ) made recommendations for Google’s search engine business practices on Tuesday, according to US media....
- Structural remedies that would prevent Google from using products such as Chrome, Play, and Android
- Google will likely appeal, drawing out the process potentially for years
Business
UAE backs Egypt’s Ras El Hekma megaproject, aims for $110 billion investment
Abu Dhabi, UAE - The UAE Ministry of Investment (MoI) announced today its support and key role in the advancement...
- Located approximately 350 kilometres northwest of Cairo, the Ras El Hekma project has garnered significant interest from Emirati investors
- Modon Holding, the master developer for the Ras El Hekma megaproject, will steer the project in partnership with prominent partners from Egypt
Business
MGX participation confirmed in OpenAI’s US$6.6bn in new funding, valuing it at US$157bn
OpenAI has finalized a deal to receive US$6.6 billion in new funding from investors who valued the company at US$157...
- Backers expect OpenAI’s chatbot to become much more widely used and haul in huge profits
- MGX is targeting some of the world's biggest scale global technology investments
Gamers get hold of Nintendo’s hotly awaited Switch 2
Tokyo, Japan -- Gamers finally got their hands on Nintendo's new Switch 2 on Thursday, the console that could score...
Business
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ATM 2025 to showcase 2,800 firms, 17 percent from Middle East
Dubai, UAE: The Arabian Travel Market, which will take place from Apr 28 to May 1 at the Dubai World...
Business
European carmakers on China charm offensive as sales droop
Shanghai, China -- Once blithely dominant in China, European automakers are now launching full-fledged charm offensives at consumers in the...
Business
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Business
Saudia to acquire 20 wide-body aircraft
10 of these being acquired for its flydaeal low-cost airline
- Saudia Group currently operates a fleet of 194 aircraft, serving commercial aviation, cargo operations, and logistics services.
- "The group is set for significant expansion, with 191 new aircraft scheduled for delivery in the coming years," the airline said.
Business
ADIB’s Q1 net profit $517 million
Q1 2025 net profit before tax increased 18% YoY.
- Net profit after tax for Q1 2025 was AED 1.7 billion, reflecting an 18 percent increase compared to Q1 2024.
- Revenue for Q1 2025 improved by 14 percent to AED 2.9 billion compared to AED 2.5 billion for Q1 2024.
Business
Emirates Islamic Q1 profit $394m
The bank's profit crossed AED 1bn mark for the first time.
- Total income rose 8 percent year-on-year to AED1.45 billion ($394 million) in Q1 2025.
- Operating profit increased by 5 percent compared to Q1 2024, while the net profit margin remained robust at 3.85 percent.