Nvidia tops $4 trillion as US stocks shrug off latest tariffs
After Congress gave Trump a big win last week with his fiscal package, the Republican's aggressive trade posture has returned...
Business
Eyeing early release, prison inmates produce Bulgaria’s coveted dairy products
Smolyan, Bulgaria -- At a prison nestled deep in Bulgaria's southern Rhodope mountains, Georgi Filyanov stirs a large tank of...
Business
Business
Fertiglobe Q1 net profit $135m
The company posted Q1 revenue of US$694 million.
- Fertiglobe reported free cash flow of $271 million in the first quarter.
- The firm continues to have a strong order book for the coming months.
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
Nvidia tops $4 trillion as US stocks shrug off latest tariffs
After Congress gave Trump a big win last week with his fiscal package, the Republican's aggressive trade posture has returned...
Business
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ESG buys majority stake in UIG
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.
China edges out Japan as world’s top vehicle exporter
In recent years, China's auto sector has grown remarkably largely because of massive investments in electric cars, an area where...
Business
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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
Business
Saudi Arabia leads GCC in project awards this year
The 2024 outlook for the MENA region's project market is exceptional, with an anticipated surpassing of $270 billion in value,...
- The 2024 outlook for the MENA region's project market is exceptional, with an anticipated surpassing of $270 billion in value, according to a latest report.
- The surge in the GCC project awards, especially in gas and construction sectors, reflects a robust economic recovery and strategic investments driving growth.