New wave: Sea power turned into energy at Los Angeles port
San Pedro, United States --Â Floating blue paddles dance on the waves that lap a dock in the Port of Los...
Science
Creators HQ attracts 2,415 active members from 147 countries
Dubai, UAE -- Dubai’s Creator HQ, the first headquarters for content creators in the UAE and the Middle East, has...
Business
Economy
Jordan and Japan review economic, strategic relationship
Amman, Jordan-- Jordan and Japan have discussed ways to boost economic cooperation and further strengthen strategic ties between the two...
- The Jordanian minister noted the "importance" of Japanese investments and their role in transfering advanced technology to the kingdom
- Jordan's exports to Japan, according to the Department of Statistics, amounted to $87 million, while imports from Japan touched $348 million
Business
Saudi-Turkish Business Forum kicks off in Istanbul with signing of 16 agreements
Riyadh, Saudi Arabia - The Saudi-Turkish Business Forum which began on Wednesday in Istanbul, witnessed the signing of 16 agreements...
- The forum is a collaboration between the Federation of Saudi Chambers of Commerce and the Foreign Economic Relations Board of Turkiye
- The forum was attended by the Saudi Minister of Municipal, Rural Affairs, and Housing, Majid bin Abdullah Al-Hogail, and the Turkish Minister of Trade, Omer Bolat
Economy
GCC, API sign MoU to establish framework for cooperation
Riyadh, Saudi Arabia-- Seeking to establish a broad framework for cooperation in several areas, the GCC and the Arab Planning...
- The MoU is expected to contribute to the development of the local working force in the GCC through cooperation in several areas
- GCC secretary general applauded API for supporting Arab organizations and institutions in all their forms with projects and ideas
Business
Most world stock markets advance as US inflation data looms
London, United Kingdom - World stock markets mostly rose Wednesday as investors jockeyed for position before key US inflation data. London...
- London equities climbed after the Bank of England announced that all major UK retail lenders passed stress tests to assess their resilience to economic shocks.
- Frankfurt and Paris also advanced before the week's main event, the US consumer price index, which forecasts suggest will show a further softening.
Business
TCS Q1 profit at US$1.35bn
Revenue from operations was US$7.2 billion.
- TCS, India's second-most valuable company by market cap, reported a net profit of 110.7 billion rupees ($1.35 billion).
- TCS was boosted by 16.1 percent growth in its UK market, while North America and Europe grew by 4.6 percent and 3.4 percent.
Business
DEWA, Huawei ink deal to bolster digital change, decarbonization
Guangdong, China - A DEWA delegation led by Al Tayer, MD and CEO DEWA, discussed enhancing cooperation and exchanging experiences...
- An agreement was signed between Digital DEWA and Huawei which focuses on accelerating digital transformation.
- The deal is a step towards supporting supports DEWA's efforts in energy transformation, sustainability, and achieving Net-Zero.
Business
Broadcom to acquire VMware after EU okays deal
BRUSSELS, BELGIUM- The European Commission approved US chipmaker Broadcom's planned $61 billion takeover of cloud computing firm VMware on Wednesday, conditional...
- The massive deal had raised concerns about competition, prompting probes by antitrust watchdogs in the European Union and Britain.
- As a remedy, Broadcom offered interoperability commitments to rival Marvell Technology and any other potential competition.
Business
OECD says sizeable progress made on sharing tax revenue on multinationals
Nearly 140 countries have taken a first step towards reaching agreement on a fairer distribution of tax revenues from multinational...
- Multinationals, especially tech firms, are currently able to easily shift profits to countries with low tax rates.
- In 2021, in talks led by the OECD, an agreement was reached on a minimum tax rate of 15 percent on multinationals.
Business
Agthia Group launches Agthia Ventures
New firm is a $54 million corporate venture capital fund.
- Funded by Agthia and its parent company ADQ, Agthia Ventures will be managed together with Touchdown Ventures.
- Agthia Ventures will help entrepreneurs through access to the firm’s extensive industry knowledge, diverse distribution networks.
Business
Saudi cinema sector grows by 28 percent by second quarter end
Dubai, UAE -- Saudi Arabia's film production sector grew by 28 percent by the end of the second quarter of...
- The highest regions in terms of records are Riyadh with 953 records, Makkah Al-Mukarramah (501), Eastern (155), Madinah (51) and Qassim with 22 records.
- In 2022, more than 14 million cinema tickets were sold, up from 13 million in 2021, according to data from the General Authority for Audiovisual Media.
New wave: Sea power turned into energy at Los Angeles port
San Pedro, United States --Â Floating blue paddles dance on the waves that lap a dock in the Port of Los...
Science
Company News
Latest News
Digital innovation spurs gender parity in Middle East
Technology, from digital platforms to AI, offers a transformative avenue for empowering women, says Isabel Neiva of Kearney Middle East...
Business
UAE banks ride on growth, operational efficiencies
The country's banking sector emerges stronger, showcasing resilience and profitability with a notable 54.1% increase in net income, says a...
Business
Europe gives accent to instant payments across the union
Brussels, Belgium - Bank customers will soon be able to transfer money across Europe within seconds after the EU adopted a...
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Science
Japan’s Moon craft SLIM revives after lunar night
TOKYO, JAPAN – Japan's Moon lander has produced another surprise by waking up after the two-week lunar night, the country's space...
- The unmanned Smart Lander for Investigating Moon (SLIM) touched down last month at a wonky angle that left its solar panels facing the wrong way.
- As the sun's angle shifted, it came back to life for two days and carried out scientific observations, Japan Aerospace Exploration Agency (JAXA) said.
Business
EDB’s contribution to UAE’s industrial GDP in 2023 rises to US$1.1bn
ABU DHABI, UAE – Emirates Development Bank (EDB) has unveiled its 2023 results, showcasing an extraordinary year of achievements and...
- EDB’s flexible financing solutions and patient debt approach have significantly bolstered industrial growth.
- EDB has approved $353 million in financing under the Credit Guarantee Scheme with partner banks in UAE.
Business
Manufacturers pack smartphones with AI tools to boost sales
Barcelona, Spain - Smartphone makers are packing their latest devices with flashy new artificial intelligence tools such as real-time voice translation...
- The focus on AI comes amid sluggish smartphones sales as consumers are taking longer to upgrade their devices due to a lack of significant innovations.
- Global smartphone shipments declined 3.2 percent to 1.17 billion units in 2023, its second consecutive yearly decline.