Meta’s AI talent war raises questions about strategy
New York, United States -- Mark Zuckerberg and Meta are spending billions to recruit top artificial intelligence talent, triggering debates...
Business
China’s Xiaomi receives almost 300,000 SUV pre-orders in minutes
Beijing, China -- Chinese electric vehicle maker Xiaomi received almost 300,000 pre-orders within an hour for its first sport utility...
Business
Business
US aerospace manufacturers insist they have no use for tariffs
New York, United States -- US airlines and aerospace manufacturers insist they have no use for tariff protections, warning that...
- US aerospace and defense exports reached $135.9 billion in 2023, including $113.9 billion for civil aviation alone.
- This allowed the sector to generate a trade surplus of $74.5 billion and to invest $34.5 billion in research and development.
Business
Apple under pressure to shine after AI stumble
Apple will showcase plans for its coveted devices and the software powering them at its annual Worldwide Developers Conference (WWDC)...
- The event comes a year after the tech titan said a suite of AI features it dubbed "Apple Intelligence" was heading for iPhones, including an improvement of its Siri voice assistant
- Industry insiders will be watching to see whether Apple addresses the AI stumble or focuses on less splashy announcements.
Business
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...
- The device, which features a bigger screen and more processing power, is an upgrade to the Switch that became a global phenomenon with hit games such as "Animal Crossing".
- The original Switch has sold 152 million units since its 2017 release, making it the third-best-selling console ever.
Business
Equinor signs $27 bn gas deal
The 10-year contract was signed with Centrica.
- Natural gas accounts for 38% of UK's total energy supply, according to the IEA, making it the top fuel source, and the nation depends heavily on imports.
- Russia's invasion of Ukraine and Western sanctions roiled energy markets, sparking a rise in prices that British consumers are still struggling with.
Business
Israel arms exports to UAE, Bahrain, Morocco rise sharply after 2023
Sales to countries considered part of the Abraham Accords -- the United Arab Emirates, Bahrain and Morocco who signed groundbreaking...
- Israel's defense ministry said that its arms exports hit an all-time high of more than $14.7 billion in 2024, despite international criticism of ongoing Gaza onslaught.
- A majority -- 56.8 percent -- of the deals signed were "mega-deals" valued at at least $100 million each, the ministry said, adding that "operational achievements" in the Gaza war.
Geostrategy
New WEF report reveals how tech convergence will reshape industries
Geneva, Switzerland – The World Economic Forum today released a new report examining how emerging technology combinations are reshaping industries...
- AI is a key enabler, making many emerging tech synergies commercially viable across industries.
- Digital twins, enhanced by AI and sensors, are expanding efficiency in sectors from aerospace to healthcare.
Business
Middle East tourism projected to reach $350 billion by 2030: ATM report
Dubai, UAE – The Middle East’s tourism sector is poised for unprecedented expansion, with a new report predicting a 50...
- Inbound travel from outside the region is set to grow by 13 percent annually up to 2030, while outbound business travel will surge at 9 percent per year.
- China ranks third by value in leisure spending, expected to increase by 130 percent by 2030.
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...
- The investment marks big tech's latest move to meet surging electricity demand from AI, with Microsoft, Google and Amazon also turning to nuclear power as an energy source.
- Under the deal, Meta's unspecified investment will replace state government subsidies to keep the Clinton Clean Energy Center operating beginning in 2027.
Business
Airlines less optimistic for 2025, facing ‘headwinds’: IATA
New Delhi, India -- Airlines on Monday revised down their traffic and profit forecasts for 2025, citing "headwinds" for the...
- The International Air Transport Association (IATA) estimates fewer than five billion air journeys will take place this year, compared with the previously forecast 5.22 billion.
- Commercial aviation revenues are expected to remain below the $1 trillion forecast in the previous December projections, with IATA now reporting $979 billion.
Business
Indian airline IndiGo orders 30 Airbus A350 widebody planes
New Delhi, India -- Indian airline IndiGo said on Sunday it had signed an order for 30 more Airbus A350-900s,...
- The low-cost carrier, India's biggest by market share, is positioning itself as a significant player in the long-haul market.
- The A350 planes, with ranges of up to 15,000 kilometers (9,300 miles), will allow it to expand its network further.
Meta’s AI talent war raises questions about strategy
New York, United States -- Mark Zuckerberg and Meta are spending billions to recruit top artificial intelligence talent, triggering debates...
Business
Company News
Aldar nets $953m in sales at Fahid
Geostrategy
Latest News
How travel brands can target high-intent travelers in the MEA region
As tourism booms across the Middle East and Africa, travel brands face fierce competition. Success now means using data-driven, personalized...
Opinion
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...
Business
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...
Business
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Business
Abu Dhabi state oil firm makes US$18.7 billion bid for Australia’s Santos
Sydney, Australia - Abu Dhabi's state-owned oil company is leading a takeover bid for Australian energy group Santos, valuing it...
- Santos's board said it plans to unanimously recommend the Abu Dhabi National Oil Company's offer to shareholders if it can agree on the takeover terms
- Adelaide-based Santos has energy operations in Australia, Papua New Guinea, East Timor and the United States, and is a major supplier of liquefied natural gas in Australia and Asia
Economy
Boeing lowers 2044 global air fleet outlook amid supply chain woes
New York, United States -- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most...
- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most built over the next 20 years, according to a Boeing forecast released Saturday.
- The global fleet will nearly double to 49,600, a bit below Boeing's prior annual outlook, the company said ahead of the giant Paris Air Show beginning Monday.
Business
Saudi EXIM Bank signs MoU with Credit Oman to boost bilateral exports
Copenhagen, Denmark -- The Saudi Export-Import Bank (Saudi EXIM) participated as a sponsor of the TXF Global 2025 conference held...
- Saudi EXIM participated as a sponsor of the TXF Global 2025 conference held in Copenhagen, Denmark, from June 10 to 12.
- Saudi EXIM Bank is a reliable partner in the global trade ecosystem, said CEO Eng. Saad bin Abdulaziz AlKhalb.