AI’s US$19.9tn contribution: Insights from Tealium on digital economy’s future
By 2030, every dollar spent on AI-powered solutions is expected to generate US$4.60 in economic value, according to global analyst...
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Business
Retail giant Carrefour to offer menstrual leave to workers in France
Paris, France -- French supermarket giant Carrefour said on Wednesday it would allow female employees to take days off if they...
- The move is the latest to allow women extra time off in a country where paid menstrual leave still depends on the individual initiative of employers.
- The company, which has supermarkets all over the world, said the measures would for the moment only apply to workers in France.
Business
M42 acquires Diaverum
Diaverum is world’s third-largest provider of dialysis services.
- Founded in 1991, Diaverum operates across 23 countries, with 440 clinics and over 13,000 employees.
- It has a strong track record of clinical excellence, providing critical care to around 39,000 patients.
Netflix reports mixed earnings as password crackdown coming
The streaming television giant reported a quarterly profit of $1.3 billion, in line with expectations, but said it had delayed...
- Netflix said it expects to begin rolling out its options for paid password sharing this quarter instead
- Market tracker Insider Intelligence forecast that Netflix will bring in $770 million in ad revenue from the new tier this year
Business
United Arab Bank posts profit
The bank's net profit vaulted to US$15mn in Q1, up 80%.
- The jump in the net profit of the bank come on the back of improved net interest income and lower provision charges
- Its operating income rose 5 percent in Q1 of 2023, as against the same period of last year, due to a 38 percent jump in net interest income
Interview
Focus on innovation and sustainability as RAKEZ helps businesses grow
The economic zone supports over 18,000 SMEs and multinational corporations, providing them with simplified processes, customized packages, and digitalized services,...
- The economic zone supports over 18,000 SMEs and multinational corporations, providing them with simplified processes, customized packages, and digitalized services, says Jallad
- RAKEZ offers regular B2B networking opportunities, hosts workshops and seminars, and provides aftercare support to ensure businesses thrive in the UAE and beyond, he adds
Business
Car sales vault in Europe, cross 1 million mark first time since 2021
Paris, France--Sales of new cars jumped last month in Europe, surpassing the level of one million for the first time since...
- Italy posted 40.7 percent jump in car sales while Spain recorded 66.1 percent increase as sales rose in all EU nations
- German carmaker Volkswagen reported high sales, with the group selling 275,753 vehicles across its various brands
Business
OPEC Fund, UNIDO enhance cooperation to advance clean energy transition
Vienna, Austria - The OPEC Fund for International Development (the OPEC Fund) and the United Nations Industrial Development Organisation (UNIDO)...
- They also signed a US$1.5 million technical assistance grant agreement in support of the National Clean Cooking Transition Programme in Madagascar
- We look forward to collaborating with UNIDO to help deliver the Sustainable Development Goals, said OPEC Fund Director-General Dr Abdulhamid Alkhalifa
Business
United Airlines reports Q1 loss
The US airline posted a quarterly loss of US$194mn.
- United Airlines said that its results were hit by higher costs, especially on salaries and for jet fuel
- But the US carrier expects a rebound in demand for tickets in the coming summer months
Business
Iraq police arrest more than 200 in raids on ‘illegal casinos’
Baghdad, Iraq--Iraqi police arrested overnight almost 200 people in raids on illegal casinos where alcohol was served in defiance of the...
- According to the interior ministry spokesman, the raids targeted four locations in Baghdad where games of blackjack and roulette were underway
- In Muslim-majority Iraq public consumption of alcohol is frowned upon, although beverages can be readily purchased from liquor stores
Business
Elon Musk hypes up new moderation policy to reassure advertisers
Speaking at a meeting in Florida, the controversial billionaire outlined new rules, first announced Monday, to limit the reach of...
- Under the new policy, unveiled in a blog post titled "Freedom of Speech, Not Reach," Twitter will soon begin tagging posts whose visibility has been limited
- According to analyst at market research firm Insider Intelligence, Twitter's revenue is set to drop 28 percent this year, because advertisers don't trust Musk
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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
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Retail investors on Tadawul rise to 6.05 million in third quarter 2023
Riyadh, Saudi Arabia -- The number of individual investors on the Saudi Exchange (Tadawul) reached 6.05 million by the end...
Business
Several MoUs signed at Future Minerals Forum in Saudi Arabia
RIYADH, SAUDI ARABIA – The third edition of the Future Minerals Forum (FMF), organized by the Kingdom’s Ministry of Industry...
Business
Elie Saab to showcase Riyadh Season Fall Collection 2025
Riyadh, Saudi Arabia -- Renowned fashion designer Elie Saab will unveil the Riyadh Season Fall Collection 2025 after signing an...
Business
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Business
BRICS to launch bonds worth US$28bn in local currencies
Tehran, Iran-- BRICS is preparing to launch new bonds in global markets, which will be available in local currencies rather...
- The BRICS bank will soon release the bonds called ‘Maharaja Bonds’ worth $28 billion
- The new bonds will be made available for governments, financial institutions, and regular investors
Business
ADQ, ADNEC to buy stake in TMG
The two will acquire 40.5% stake in the Egyptian firm.
- The two firms will invest through a special purpose vehicle, with 49 percent equity ownership by ADQ and 51 percent equity ownership by ADNEC
- The buying of a stake represents a major foreign direct investment in Egypt and marks a strong vote of investor confidence in the Egyptian tourism and hospitality sector
Business
PIF’s diverse investments transform Saudi economy
From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future...
- From sports and gaming to pharmaceuticals and aviation, the Saudi Public Investment Fund's strategic initiatives are shaping a dynamic future for the the Kingdom's economy.
- The PIF's diverse industry launches and acquisitions, managing $701 billion in assets, have created over 644,000 jobs in pharmaceuticals, aviation, and tourism sectors.