Google has illegal monopoly in ad tech, US judge rules
Washington, United States - A US judge on Thursday ruled that Google illegally wielded monopoly power in the online ad...
Business
Nvidia expects $5.5 bn hit as US targets chips sent to China
Nvidia on Tuesday notified regulators that it expects a $5.5 billion hit this quarter due to a new US licensing...
Business
Business
Saudi Arabia and UK hold discussions to boost economic partnership
London, UK-- Saudi Arabia and the UK have held discussions to boost trade and economic partnership between the two countries....
- Saudi Commerce Minister Dr. Majid Al-Qasabi met with several British ministers and leaders of major companies in London to discuss expansion of business ties
- The Saudi delegation presented the programs of the kingdom's Vision 2030 to expand business opportunities and investments between the two countries
Economy
UAE-Turkey non-oil intra-trade crosses US$103 billion in last 10 years
Abu Dhabi, UAE-- The UAE and Turkey economic ties have witnessed a great leap in the last decade with non-oil...
- Raw gold topped the list of the five most key commodities imported by the UAE from Turkey in 2022, with a value of $4.35 billion
- The UAE and Turkey inked an agreement in March this year, which looks to scale up trade between the two countries to US$40 billion in five years
Interview
Rate rise boosts Gulf banks amid crisis
Despite global economic challenges such as the crisis, inflation, and high interest rates, the GCC banking sector has shown impressive...
- Despite crises in US and Europe, the GCC banking sector has shown significant growth, aided by rate hikes and digitalization, says Commercial Bank of Kuwait CEO Elham Mahfouz
- Kuwait's banking industry recorded a 37% profit increase in 2022, and is making strides in adopting AI and supporting sustainability initiatives, she tells TRENDS in an interview
Geostrategy
UAE, Turkish presidents discuss bilateral, economic relations in Istanbul
ISTANBUL, TURKEY - UAE President Sheikh Mohamed bin Zayed Al Nahyan arrived here on Saturday for a working visit and...
- The UAE and Turkish presidents discussed their shared interest in advancing sustainable economic growth and social development.
- Both the leaders applauded the recent progress witnessed in UAE- Turkey relations and discussed the benefits of CEPA.
Business
SPC Free Zone to provide licenses within 45 minutes
SHARJAH, UAE - Sharjah Publishing City Free Zone (SPC Free Zone) has announced an expedited business setup process, allowing businesses...
- SPC Free Zone has also unveiled a limited-time package aimed at reducing business licensing and set-up costs.
- It empowers smaller businesses and aspiring entrepreneurs to establish or expand their operations in the emirate.
Business
DEWA’s R&D Center develops technology to simulate leaks in water transmission pipes
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) ’s Research and Development (R&D) Center has developed an advanced, smart...
- The center developed the facility using software and hardware, based on the concept of the Internet of Things (IoT).
- Based on experimental data using the facility, the developed algorithm was able to identify leakage events with 94.4 percent accuracy.
Economy
Qatar and Iran to boost cooperation in labor sector
Dubai, UAE-- Qatar and Iran intend to expand cooperation in the fields of labor, employment, and exchange of skill-training experiences....
- The two ministers met on the sidelines of the 111th session of the International Labour Conference in Geneva and discussed deepening ties
- Qatari minister while applauding Iran's role during the sanctions said Doha will never forget Tehran's support during the period of crisis
Business
UAE and Cambodia to ramp up bilateral trade to US$1bn in five years
Phnom Penh, Cambodia-- The UAE and Cambodia have agreed to boost economic ties, expanding the bilateral non-oil trade from the...
- The two sides agreed that the Comprehensive Economic Partnership Agreement signed during the visit was the best means of achieving the economic ambitions
- The UAE side explored opportunities to enter into partnerships with business executives from Cambodia's fast developing sectors like apparel and fintech
Economy
UAE national banks provide $99.9 bn credit to trade, industry in Q1 2023
Abu Dhabi, UAE - Credit financing provided by the UAE national banks to the trade and industry sectors grew 6.1...
- The statistics showed that the cumulative balance of credit provided by national banks to the two sectors amounted to $99.9 billion
- According to the apex bank’s data, the cumulative balance of credit provided by national banks to the two sectors increased on a monthly basis by 0.1 percent
Geostrategy
UAE and Japan look to boost ‘strategic’ relations with focus on energy
Tokyo, Japan-- The UAE and Japan have discussed ways to strengthen the strategic partnership with a sharp focus on the...
- The UAE's Foreign Minister Sheikh Abdullah bin Zayed met with Japan's Prime Minister Fumio Kishida in Japan and discussed ways to boost strategic partnership
- The foreign minister pointed to the "pioneering example of strategic cooperation" that has gone on for more than 50 years between the two nations
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Google has illegal monopoly in ad tech, US judge rules
Washington, United States - A US judge on Thursday ruled that Google illegally wielded monopoly power in the online ad...
Business
Company News
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Banco Santander posts US$12bn profit
It made record profit on the back of higher interest rates.
Business
Microsoft revenue surges
The company said sales leaped to $62 billion in Q3.
Google says AI helped boost profits
Alphabet reported a profit of $20.7 billion.
Most Read
Business
DFM net profit climbs 124 percent
Its board has proposed a cash dividend of US$76.24m.
- The upswing in profit was propelled by a significant uptick in trading activities, capital inflow and a notable influx of new investors
- The bourse consolidated its status as a premier market for IPOs, with the listing of Dubai Taxi Company and Al Ansari Financial Services
Business
UAE and UK seek to boost economic cooperation
Abu Dhabi, UAE-- Looking to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri,...
- The discussions to boost trade ties took place during a UAE delegation's visit to the UK to participate in Investopia London, to be held on January 31, 2024
- The UAE minister said the relations between the two countries serve as a prime example for advanced strategic ties and exceptional economic partnership
Business
Samsung profit dips 34.57 percent
Its operating profit for Q4 was US$2.1bn.
- The company posted a 73.4 percent drop in net profit to $4.8 billion
- It blamed interest rate policies and geopolitical issues for the drop