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Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

The most eye-catching products at Vivatech fair

For humans, spotting the difference between a Lacoste polo shirt and a fake sporting the brand's crocodile logo can be...
  • olumn-shaped robots from Hong Kong firm Robocore can serve as mobile ad billboards -- but for now are mostly deployed for medical purposes in hospitals and retirement homes.
  • French startup Aemotion's four-wheeled electric vehicle is designed to weave through traffic, saving commuters time spent in jams.

Nvidia marks Paris tech fair with Europe AI push

Paris, France -- Drawing high-powered tech CEOs and a presidential visit, the Vivatech trade fair opened in Paris on Wednesday...
  • Nvidia boss Jensen Huang also lso announced a multi-billion-dollar partnership with French AI champion Mistral AI.
  • The US firm's tie-up with Mistral will see the companies build a cloud computing platform powered by 18,000 of Nvidia's "Blackwell" high-end chips worth billions.

Trump touts ‘done’ deal with Beijing on rare earths, Chinese students

Trump said on his Truth Social platform that China would supply rare earth minerals and magnets -- vital elements for...
  • Washington was concerned at slower supplies of rare earths after Beijing began requiring domestic exporters to apply for a license -- seen as a response to US tariffs.
  • Rare earths are used in everything from electric vehicles to hard drives, wind turbines and missiles.

Sharjah’s real estate sector records $1.49bn in transactions during May

Sharjah, UAE --  Sharjah's real-estate market during May 2025 recorded a total of 8,415 transactions worth AED 5.5 billion.  Of...
  •  Of these, 1,574 were sales transactions, accounting for 18.7% of the total, a clear indicator of increasing demand for real estate.
  • Mortgage activity remained strong, with 381 mortgage transactions, representing 4.5% of all transactions and totaling more than AED1.1 billion in value.

A hospitality trailblazer talks resilience in a shifting global landscape

Duncan O’Rourke, CEO, Premium, Midscale, and Economy Division for Middle East, Africa and Asia Pacific at Accor, spells out the...
  • The CEO stressed that Accor’s robust development pipeline and ambitious growth across Saudi will deliver 44 additional hotels by 2030.
  • Accor's lifestyle division, Ennismore, is now the world’s largest and most innovative lifestyle hospitality player in the industry.

ADNOC Gas announces $5 billion investment in Rich Gas Project

Abu Dhabi, UAE -- ADNOC Gas announced Tuesday it has made a final investment decision on the first phase of...
  • UK-based firm Wood secured the largest tranche, valued at $2.8 billion, for work at the Habshan facility.
  • Petrofac will lead a $1.2 billion project for the Das Island facility, while Kent Plc will manage a $1.1 billion project covering the Asab and Buhasa sites.

IBM claims ‘real world’ edge in quantum computing race

San Francisco, United States -- Technology veteran IBM on Tuesday laid out a plan to have a "practical" quantum computer...
  • Current quantum computers are still experimental and face significant challenges, including high error rates.
  • Companies like IBM, Google, and others are working to build more stable and scalable quantum systems.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.
  • Last week, UK fintech Wise, specializing in international money transfers, said it plans to shift its primary listing from London to New York.
  • For California-based Qualcomm, the acquisition will help boost its AI infrastructure amid soaring demand for the technology.

Leaders warn race for minerals could turn seabed into ‘wild west’

Growing anxiety over Trump's unilateral push to fast-track deep-sea mining in international waters shot to the surface at the opening...
  • The number of countries opposed to seabed mining rose to 36 on Monday, according to a tally kept by the Deep Sea Conservation Coalition, an umbrella group of NGOs.
  • Trump was not among the roughly 60 heads of state and government in Nice but his specter loomed large as leaders defended the global multilateralism he has spurned.

MENA Mergers & Acquisitions deal value up 66% in Q1, hits $46 Billion

Dubai, UAE -- The Middle East and North Africa (MENA) region has kicked off 2025 with a record-breaking first quarter...
  • According to Saudi M&A Consulting, this robust growth reflects rising investor confidence, favorable regulatory reforms, and strong macroeconomic fundamentals across the region.
  •  Cross-border M&A accounted for 81 percent of total deal value and 52 percent of the total number of transactions, with 117 deals executed, the highest in the last five years.

Eight-country coalition aims to tax luxury air travel

Seville, Spain -- Countries including France, Kenya, Barbados and Spain on Monday launched a coalition to push for taxes on...

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Tesla expected to launch long-discussed robotaxi service, will use Model Y

New York, United States -- Tesla is expected to begin offering robotaxi service Sunday in Austin, an initial step that...

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

MENA Brief | June 19: GCC central banks hold interest rates steady, Diriyah House launched in London

As most currencies in the region are pegged to the US dollar, monetary policy follows the decisions taken in Washington,...

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Cross-border payments and financial inclusion drive stablecoin popularity

London, United Kingdom -- Stablecoins -- a form of cryptocurrency backed by traditional assets -- are gaining traction, with the...
  • Stablecoins play a key role in crypto markets, enabling users to trade digital assets without relying on traditional banks, instead using blockchain.
  • Unlike volatile cryptocurrencies like bitcoin, stablecoins track the value of traditional assets -- such as the US dollar or gold -- enabling greater stability.

Oil prices drop, stocks climb as Iran-Israel war fears ease

Israel's surprise strike against Iranian military and nuclear sites on Friday -- killing top commanders and scientists -- sent crude prices...
  • However, concerns over the conflict spreading appeared to have receded, with both main oil contracts retreating 3.7 percent.
  • Analysts said the recent decision by the OPEC+ group of crude producing nations, led by Saudi Arabia and Russia, to raise output again in July also played a role.

WhatsApp introduces first major advertising features

San Francisco, United States -- WhatsApp announced Monday it will introduce its boldest advertising features yet, marking a significant shift...
  • The move is a sensitive one for WhatsApp, whose chief firmly denied a report in 2023 that said the Meta-owned app was exploring advertisements as it sought to boost revenue.
  • Unlike Facebook, Instagram, and other social platforms, WhatsApp has maintained minimal advertising since Meta acquired it in 2014.