SoftBank raises $11.1 billion through bonds for OpenAI
SoftBank Group has issued dollar- and euro-denominated bonds worth a combined $11.1 billion as it seeks funding to support its...
Business
PIF launches digital platform Tawrid for providing supply-chain financing
The Public Investment Fund (PIF) has announced the launch of Tawrid Company for Financing Solutions, an innovative digital platform providing...
Business
Business
Ring, Lloyds Bank and Snapchat hit by massive internet outage
Lloyds Bank and Halifax’s mobile apps went down for users on Monday after a major outage linked to Amazon Web...
- Dozens of popular websites and apps, including Snapchat, Ring, Fortnite, and Amazon’s own Prime Video, were inaccessible during the blackout
- Lloyds’ website posted a notice saying: “Sorry, we’re unable to process your request at the moment. We are currently having some technical issues.”
Interview
Digital sovereignty Is the new independence, says UAE cybersecurity official
Digital sovereignty, in my view, is no longer a technical concept — it’s a cornerstone of national independence and strategic...
- Digital sovereignty, in my view, is no longer a technical concept — it’s a cornerstone of national independence and strategic stability, says Lt. Colonel Al Shebli in an interview
- The UAE has been forward-thinking in this domain, ensuring that data, platforms, and systems critical to our nation’s wellbeing remain under national jurisdiction. he adds
Business
GITEX GLOBAL Day 4: Security in a world driven by AI and data takes center stage
Dubai, UAE-- On the day 4 of GITEX GLOBAL 2025, policymakers, cybersecurity leaders, and innovators convened to address the most...
- As digital transformation accelerates, speakers called for a unified global response that firmly plants security, ethics, and trust at the core of AI-driven progress.
- The 45th edition of GITEX GLOBAL converges more than 6,800 exhibitors, 2,000 startups, 1,200 investors, and delegations from over 180 countries.
Business
Nestle to cut 16,000 jobs
The company's shares shoot up 8%.
- "The world is changing, and Nestle needs to change faster," chief executive Philipp Navratil, who took the reins of the multinational in early September, said in a statement.
- The company published nine-month figures showing sales down by 1.9 percent to 65.9 billion Swiss francs ($83 billion).
Business
Billionaire Ronaldo tops Forbes footballer rich list again
Paris, France -- Portugal great Cristiano Ronaldo once again topped the Forbes highest-paid footballers list for the 2025-26 season, as...
- It is the sixth time in the last decade that Ronaldo has topped the Forbes list.
- With on- and off-field earnings of an estimated $280 million, Al Nassr's Ronaldo will earn more than double that of second-placed rival Lionel Messi.
Business
Spotify, Netflix sign deal to stream video podcasts
Stockholm, Sweden -- Music and video streaming giants Spotify and Netflix have penned a deal to bring several video podcasts...
- Spotify also said that it was planning "to bring similar opportunities" to a wider range of podcasters in the future.
- Spotify first began offering non-music audio and video content on its service in 2015.
Business
AI, robotics, energy systems, sensor networks: Four technologies driving the future of work
The report, Jobs of Tomorrow: Technology and the Future of the World's Largest Workforces, developed by the WEF's Global Future Council on...
- Realizing the vast opportunities while minimizing risks will require targeted investment, improved technology access in developing markets and inclusive platform design
- Applications already making an impact include drone-enabled agricultural harvesting, AI-powered logistics support for small businesses and micro-energy systems
Business
Global experts and cybersecurity leaders convene in Dubai to inform future-ready solutions
The World Economic Forum will convene more than 500 experts from government, business, academia, international organizations, civil society and media,...
- Amid geopolitical shifts and technological transformation, this year’s meetings will provide space to navigate uncertainty, decode emerging trends and strengthen resilience
- Sessions will enable participants to identify systemic solutions, drive cybersecurity collaboration and understanding across industries, and foster the multisectoral partnerships
Business
OpenAI announces Broadcom deal as spending spree continues
OpenAI, the company behind ChatGPT, announced Monday it is teaming up with chip giant Broadcom to design and build its...
- The partnership is the latest in a series of recent announcements by OpenAI as it seeks to strengthen its position as the preeminent company of the generative AI revolution
- The partnership, which the companies said would launch next year, would provide 10 gigawatts in computing power, requiring roughly the energy needed to power a major city
Business
UAE solidifies AI ambition at Expand North Star by GITEX GLOBAL
Dubai, UAE – Expand North Star by GITEX GLOBAL is underway in the UAE as the world’s largest startup and...
- The 2025 edition connects over 2,000 of the world’s most disruptive startups with 1,200 international investors managing US$1.1 trillion in assets.
- Reflecting the government’s ambition to foster innovation and attract global talent, the initiative aims to generate 30,000 new jobs by 2030.
SoftBank raises $11.1 billion through bonds for OpenAI
SoftBank Group has issued dollar- and euro-denominated bonds worth a combined $11.1 billion as it seeks funding to support its...
Business
Company News
DIB H1 net profit $1bn
Business
Latest News
SIB H1 profit up 15.3%
Business
Luxury stocks: when good results are not enough
Luxury sales are rising, but investors remain increasingly selective as markets reward durable, high-quality growth over headline gains, says etoro...
Analysis
Dubai Chambers legal events draw 1,551 business representatives in H1
Dubai, UAE -- Dubai Chambers said it organized 15 legal events during the first half of 2026, attracting 1,551 representatives...
Business
Most Read
Business
UAB H1 profit climbs
Income, lending drive first-half growth
- Loans, Islamic financing, deposits and investments expand while capital, liquidity and asset quality remain above regulatory requirements throughout.
- Total assets increased 16 percent to 28 billion dirhams ($7.62 billion).
Analysis
Alphabet and Tesla in focus as markets demand more from Big Tech
"Three months ago investors were comfortable funding aggressive AI investment," Gilbert added. "Today they're asking tougher questions. Markets now want...
- One bright spot remains Alphabet's AI monetisation strategy, with Gemini now exceeding 900 million monthly users.
- The market expects Tesla to report USD 26.3 billion in revenue and earnings per share of USD 0.50.
Business
CFI posts record first-half trading volume of $5.34 trillion
Dubai, UAE -- CFI Financial Group said it recorded its strongest first half on record, with trading volume reaching $5.34...
- The broker expanded into Brazil, launched UAE local stocks and Bahrain digital assets while active clients rose 8.4 percent annually.
- The company said metals generated the strongest demand during the quarter, followed by increased activity in equity indices.