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Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

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...
  • The coalition said it would work to increase the number of countries taxing plane tickets, including business-class travel, and private jets.
  • Greenpeace welcomed an "important step" to raise more money from "the most elite and polluting form of travel", which has remained "undertaxed".

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...
  • OpenAI CEO Sam Altman recently complained that Meta has offered $100 million bonuses to lure engineers away from his company.
  • Several OpenAI employees have accepted Meta's offers, prompting executives at the ChatGPT maker to scramble to retain their best talent.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.
  • The Amsterdam-based company was an early pioneer of digital navigation in cars, but has been struggling as people no longer use a separate device to move around..
  • TomTom announced in a statement that it was "realigning its organization as it embraces artificial intelligence", resulting in "organizational changes".

Meta spending big on AI talent but will it pay off?

New York, United States - Mark Zuckerberg and Meta are spending billions of dollars for top talent to make up...
  • OpenAI boss Sam Altman recently lamented that Meta has offered $100 million bonuses to engineers who jump to Zuckerberg's ship, where hefty salaries await
  • A few OpenAI employees have reportedly taken Meta up on the offer, joining Scale AI founder and former chief executive Alexandr Wang at the Menlo Park-based tech titan

Trump metal tariffs wreak havoc on US factory

Belcamp, United States --  In the sweltering US summer, metal containers decorated with snowmen and sleighs are taking shape --...
  • At Independent Can's factory in Belcamp, Maryland northeast of Baltimore, CEO Rick Huether recounts how he started working at his family's business at age 14.
  • Huether, now 73, says he is determined to keep his manufacturing company afloat for generations to come. But Trump's tariffs are complicating this task.

Indonesia begins $5.9 bn EV battery project despite environment fears

Jakarta, Indonesia -- Indonesia broke ground Sunday on a $5.9 billion megaproject for EV battery production backed by Chinese giant...
  • Indonesia is the world's largest nickel producer and it is trying to capitalize on its vast reserves.
  • The EV battery project will include a $4.7 billion investment on the eastern island of Halmahera and a $1.2 billion investment in West Java.

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...
  • Xiaomi's Hong Kong-listed shares soared eight percent at one point before paring their gains but ending at a record high.
  • The Beijing-based commercial tech giant made its first foray into car-making with its SU7 EV model last year, part of a broader industry push to boost domestic consumption.

BBC launches US paid subscription to news website

London, United Kingdom - The BBC, Britain's public broadcaster that is struggling with strained finances, on Thursday launched a paid...
  • For $49.99 a year, or $8.99 a month, users will have "unlimited access" to the BBC's news articles, feature stories and the BBC News television channel, a statement said
  • The BBC, which broadcasts across television, radio and online, said in March that it faced "unprecedented" challenges to funding

Roblox’s Grow a Garden explodes online video game numbers

Paris, France -- A gardening game created by a teenager on online platform Roblox has attracted a record 21 million...
  • More than 21 million players connected to Grow a Garden at the same time on June 21, buying seeds to cultivate a little patch of virtual land, harvesting crops.
  • That shattered the record held by the adrenalin-packed Fortnite, which attracted 15 million concurrent users (CCUs) during an event in late 2020.

Amazon tycoon Jeff Bezos, his fiancee Lauren Sanchez arrive in Venice for lavish wedding

Bezos, 61, and Sanchez, 55, are said to have booked out the city's finest hotels for a star-studded guest list...
  • Bezos, the world's fourth-richest person, and his former television anchor bride-to-be were seen stepping off a water taxi at the Aman Hotel on the Grand Canal
  • Bezos, 61, and Sanchez, 55, are said to have booked out the city's finest hotels for a guest list rumoured to include Leonardo DiCaprio, Mick Jagger, and Kim Kardashian

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

Latest News

Salini awarded $600m contract for 400 retail units in Diriyah Square

Riyadh, Saudi Arabia -- Diriyah Company has announced the award of a major new $600 million (SAR2.249 billion) contract for...

Low-cost carrier Wizz Air to stop Abu Dhabi operations

Budapest, Hungary -- Hungarian low-cost airline Wizz Air said Monday that it would end its Abu Dhabi operations, which have...

Syria signs $800 mn port deal with DP World to develop Tartus port

Damascus, Syria -- Syria signed a $800 million deal with UAE-based company DP World on Sunday to develop the port...

Most Read

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

Demand for crude will continue to expand through 2050, says OPEC

In its latest annual report on the outlook for oil demand, OPEC sees global oil demand rising by 18.6 percent...
  • That rising demand will be "driven by expanding economic growth, rising populations, increasing urbanization, and the new energy-intensive industries like AI.
  • The IEA said last month that it expects global oil demand begin to decline in 2030, driven by the rise of electric cars and the shift away from crude to produce power.

Cricket’s Indian Premier League value surges to $18.5 bn: report

New Delhi, India -- The Indian Premier League's business value has been estimated at $18.5 billion with reigning champions Royal...
  • The world's richest cricket tournament generated an estimated $11 billion a year for the Indian economy in 2020.
  • Since it launched in 2008 it has inspired a range of other franchise-based leagues in India in sports as diverse as boxing, badminton, poker and kabaddi.