Does ‘vibe coding’ make everyone a programmer?
New York, United States -- Can a complete tech novice create a website using everyday language on ChatGPT? That's the...
Business
Business
Shoemakers for Nike, Adidas to slash thousands of jobs
One of Vietnam's largest shoe manufacturers for brands such as Nike and Adidas will cut thousands of workers at the...
- PouYuen Vietnam told local authorities it would lay off almost 6,000 workers with permanent contracts from the end of next month.
- "This will be the biggest layoff since PouYuen started its operation in Ho Chi Minh City in 1996," the state media outlet said.
Business
UAE presents labor laws to UN Human Rights Council in Geneva
DUBAI, UAE - The UAE presented its legislative ecosystem - which regulates the local labor market, provides social security and...
- Several UAE federal, local government entities and civil society organizations were part of the delegation.
- The new labor legislations include provisions that prohibit discrimination on all grounds as defined in international conventions.
Geostrategy
Saudi Arabia and Iran discuss ‘opportunities to develop and strengthen’ ties
Riyadh, Saudi Arabia-- Saudi Arabia and Iran have discussed ways to strengthen the ties between the two countries in a...
- The Iranian minister described the expansion of the Saudi-Iranian relations as a "win-win" development
- The two ministers met in Jeddah on the sidelines of the Islamic Development Bank Group's conference
Business
The Game Company raises $5m at $40m valuation
Dubai, UAE - AI-driven cloud-based gaming platform, The Game Company, raised $5 million during their pre-seed round in December....
- The company is poised for even more growth during its upcoming funding round, with expectations of a substantial increase in valuation
- The company aims to create a truly immersive gaming experience that is accessible for anyone, anywhere, anytime, and on any device
Geostrategy
Iran to receive fighter jets from Russia in sign of growing military ties
Tehran, Iran--Iran will begin to receive the first batch of Russian SU-35 fighter jets next week, according to Mehr News...
- Being under Western sanctions, both Iran and Russia have signed deals in recent months to boost military, economic, trade, and energy ties
- Apart from the 24 jets, Iran will also receive from Russia air defense systems, missile systems and helicopters from Russia in the near future
Business
RAK Ceramics’ profit soars in Q1
The profit rose to US$22mn on the back of higher revenue.
- The company's revenue soared to $240 million, a jump of 12.7 percent, and EBITDA went up to $43 million, an increase of 21 percent
- It is looking to make additions to its capacity for tiles, sanitaryware and tableware division in the United Arab Emirates
Business
DP World’s JAFZA looks to boost UAE-India trade to US$100bn
Speaking at a CII event in New Delhi, Abdulla Bin Damithan, CEO & Managing Director, DP World UAE & Jafza...
- Trade between the UAE and India has shot up to $84 billion in 2022, from $68 billion the year before, recording a 23 percent jump
- Indian companies are the second largest partners in the free zone in terms of trade volume and fourth in terms of trade value
Dubai Investments profit up 55%
The Group's income also saw an increase of 34 percent.
- The company's net profit for the period stood at $85.51 million, up from $55.20 million during the same period last year
- he Group's total income also saw an increase of 34 percent, reaching $278.11 million, compared to $204.65 million in Q1 2022.
Business
ADNOC Distribution’s profit up
Its profit vaulted to US$150 million in Q1 of 2023
- The company said the profit resulted from strong performance and improvement in efficiency measures across all operations
- It acquired a 50 percent stake in TotalEnergies Marketing in Egypt, and plans to open the first service station in Cairo in Q2
Business
France-UAE ties get robust as non-oil trade soars
Baroux also commends the UAE as the most promising market for French exports in the region, with over 600 French...
- Non-oil trade between France and the UAE rose to €7.318 billion in 2022, representing a 21% increase from the previous year
- The surge in trade signifies a significant 16.8 percent growth in bilateral economic relations between the two countries
Most Read
Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Company News
Pfizer set to acquire Seagen
Business
Latest News
UAE, Korean firms ink pact
Business
Quiet and not-so-quiet luxury at Paris Fashion Week
PARIS, FRANCE - The Paris Fashion Week menswear shows draw to a close on Sunday. Here are some of the highlights...
Business
UAE foreign investment projects second highest in world: UNCTAD
Abu Dhabi, UAE -- The UAE recorded the second-highest increase in the number of new foreign investment projects around the...
Business
ArcelorMittal wants ‘amicable solution’ on Italy steelworks
ROME, ITALY - ArcelorMittal has offered to sell its stake or become a minority shareholder in an Italian steelworks after Rome...
Business
Most Read
Business
China remains world’s largest logistics market in terms of demand
BEIJING, CHINA - The logistics sector in the country achieved steady recovery in 2023 and the country remains the world's...
- As final consumption continues to rebound, it will lead to consistent growth in production and import demand.
- There has been a continuous enhancement in the competitive capabilities of China's logistics enterprises.
Economy
Bahrain and Slovakia to ramp up cooperation in urban planning
Manama, Bahrain-- Bahrain and Slovakia are looking to ramp up the ongoing cooperation in urban planning and sustainable development. In...
- The CEO of UPDA lay emphasis on the need for exchanging expertise and technologies in the field of urban development
- Al Khayat apprised the delegation about UPDA’s role in overseeing the policy of sustainable urban planning in the kingdom
Business
Google to invest US$1bn in UK data centre
It will meet growing demand for internet services in the region.
- The site for the centre, bought by Google in 2020, will be located in the town of Waltham Cross, about 15 miles north of central London
- The UK government pushing for investment to help fund new infrastructure, termed Google's investment as a "huge vote of confidence"