ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.
Business
Heathrow to resume some flights after power station fire
London's Heathrow Airport said it would resume "some flights" later Friday after a fire at a power station grounded planes...
Economy
Business
DEWA announces pilot use of ChatGPT on its website
Dubai, UAE: Dubai Electricity and Water Authority (DEWA) announced the pilot use of ChatGPT, since April 2023, on its website...
- DEWAt is the first utility in the world and the first government organisation in the UAE to use ChatGPT
- The step has been taken as part of the company’s strategy to employ Artificial Intelligence
Business
Credit Suisse CEO to join executive board after takeover: UBS
Koerner will be the only executive from Credit Suisse to remain on board after the bank is absorbed by UBS....
- Swiss-German Koerner held top positions at UBS for a decade before jumping ship to Credit Suisse last year with the tough task of reviving the troubled bank
- With his knowledge of both organisations, Ulrich Koerner will be responsible for ensuring Credit Suisse's operational continuity and client focus, UBS said
Business
Qatar’s Hamad International Airport passenger traffic soars 44.5% in Q1
Doha, Qatar— More than ten million passengers traveled through Qatar’s Hamad International Airport in the first quarter of the current...
- Some 3.56 million passengers arrived at the airport in January, followed by 3.24 million in February, and 3.5 million passengers in March
- During the first quarter of the year, the airport handled more than 540,000 tons of cargo and transferred some 8 million bags
LinkedIn closes China service, citing ‘fierce competition,’ cuts 700 jobs
Microsoft-owned LinkedIn was one of the few US technology companies to successfully operate a social media site in China, where...
- An email from LinkedIn CEO Ryan Roslansky published online added that pulling out of China would result in "a reduction of roles for 716 employees"
- Most US internet giants including Facebook, Twitter, Instagram and YouTube have long been blocked in China as they fail to comply with strict regulations
Business
Twitter canceling accounts that haven’t been used for a long time
Since Musk bought Twitter, the company has relaxed the moderation of content on the network, letting back many users banned...
- The move comes as Twitter's new boss Elon Musk tries to ramp up engagement, and opportunities to make money, at the online platform he bought for $44 billion last year
- Musk-mandated changes at Twitter from slashing staff to doing away with free verification check marks seen as stamps of authenticity have alienated users and advertisers
Economy
Uzbekistan calls for launch of ‘forum for businessmen’ in Doha or Tashkent
Doha, Qatar-- Uzbekistan has called for establishing a joint forum for businessmen in Doha or Tashkent to review investment opportunities...
- The minister highlighted opportunities for investment in the Central Asian state, saying large foreign companies have begun investing in various sectors
- He lay emphasis on building trade and investment alliances between Qatari and Uzbek companies that contribute to boosting of trade exchange between the two nations
Business
Aramco Q1 earnings take a hit
The Saudi company posts net profit of $31.9bn, down 19.25 percent from a year earlier.
- The result was lower than the $39.5 billion reported in the same period in 2022, when Russia's invasion of Ukraine caused oil prices to surge
- Aramco is the jewel of the Saudi economy and the main source of revenue for Crown Prince Mohammed bin Salman's Vision 2030
Business
Kuwait’s central bank issues US$1.05bn worth of bonds and tawarruq
Kuwait City, Kuwait--The Central Bank of Kuwait (CBK) has announced the latest allocation of issuance of bonds and tawarruq valued...
- Early this month, the bank issued bonds and tawarrruq worth US$ 660 million for three-months term
- It said the value of the first issuance amounted to $528 million for three months with a return rate of 4.250 percent
AI could replace 80% of jobs ‘in next few years’: expert
Goertzel was in provocateur mode last week at Web Summit in Rio de Janeiro, the world's biggest annual technology conference,...
- AI is not capable of becoming like human level general intelligences, because they can't do complex multi-stage reasoning, said Ben Goertzel
- AI is not a threat, I think it's a benefit as people can find better things to do with their life than work for a living, US-Brazilian researcher said
Business
Net profit of QSE listed companies dips by 10% in Q1
Doha, Qatar - Fifty companies listed on Qatar Stock Exchange (QSE) have reported a combined net profit of $3.45 billion...
- The industries sector saw the biggest decline of 44.18 percent, resulting in a net profit of $656.22 million
- The insurance sector recorded the highest growth with a 79 percent increase, generating a net profit of $102.94 million
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
ADNOC Gas to pay $3.41bn dividend
It includes $1.7 billion scheduled for distribution in Q2 2025.
Business
Company News
Latest News
ENEC signs MoU with Egypt
COP28 UAE
Sony to decide on Zee merger
The tie-up is aimed at helping both firms compete with streaming rivals.
Business
Middle East only region to overcome pre-Covid tourism levels: UNWTO
"International tourism is expected to fully recover pre-pandemic levels in 2024, with initial estimates pointing to 2.0 percent growth above...
Business
Tesla’s Musk throws down the gauntlet
Amid declining sales and safety concerns, CEO covets more control, seeking solace in SpaceX's success.
Business
Most Read
World Economic Forum
Middle East needs strong Saudi Arabia, says kingdom’s finance minister
Dubai, UAE-- Saudi Arabia's Finance Minister Mohammed Al-Jadaan said the Middle East needs a strong Saudi Arabia to contribute and...
- The World Economic Forum meeting in Saudi Arabia will address economic issues, international cooperation and global challenges
- The kingdom's finance minister said the region requires a strong Saudi Arabia to contribute and that future outlook looks positive
Business
UAE firms face AI-driven data management hurdles
In a rapidly evolving digital landscape, 91% UAE business leaders are facing critical challenges in aligning data strategies with their...
- In a rapidly evolving digital landscape, 91% UAE business leaders are facing critical challenges in aligning data strategies with their business goals, says a latest report.
- Only 44% of UAE businesses are confident in their data's accuracy, leading to increased investment in data training and governance to address these concerns, it adds.
Business
Sharjah Islamic Bank profit surges
It posted a 31% jump in net profit to US$229.13m in 2023.
- The bank's operating profits also recorded a 23 percent rise, reaching $554 million for 2023, up from $435 million in 2022
- Its board of directors has proposed a 10 percent cash dividend, subject to approval at the upcoming general assembly meeting