Gamers get hold of Nintendo’s hotly awaited Switch 2
Tokyo, Japan -- Gamers finally got their hands on Nintendo's new Switch 2 on Thursday, the console that could score...
Business
Meta secures nuclear energy in 20-year Illinois plant deal
Washington, United States -- Facebook owner Meta announced Tuesday a 20-year nuclear energy agreement with US-based Constellation Energy to secure...
Business
Business
Qatar cruise tourism receives boost as MSC World Europa docks in Doha
Doha, Qatar--Doha port received on Thursday the cruise ship MSC World Europa carrying 5,613 tourists and a crew of 2,121....
- Qatar's tourism sector has recorded growth in recent years thanks to growing popularity in cruise tourism, making the country a favorite destination
- Equipped with latest technology, MSC World Europa is one of the most innovative and eco-friendly equipment in the company's fleet
KIPCO’s 2022 profit soars 44%Â
Earnings per share went up 15% to $2.3 cents.
- Earnings per share were up 15 percent from US$ 2 cents to US$ 2.3 cents
- Shareholder equity increased 81 percent from US$ 1.1 billion to US$ 1.9 billion
Business
Aramco signs MoU with Samsung
The deal is designed to enhance Saudi digital transformation.
- Both will make a push for the kingdom's digital transformation in sectors like energy, petrochemical, and manufacturing
- Saudi Arabia, according to a UN report in March, is ranked fourth globally in its level of preparedness in digital systems
Business
Block stock down 22% as Hindenburg targets it for overstating user base
New York, United States -- Two months after accusing India's Adani Enterprises of fraud, US investment group Hindenburg Research launched...
- Block, founded by former Twitter boss Dorsey in 2009, used to be called Square before being renamed in late 2021.
- The tech company operates financial transactions, ranging from payments to merchants to payments between individuals.
Economy
IMF warns ‘inaction will leave Lebanon in never-ending crisis’
Lebanon and the IMF reached a conditional agreement in April 2022 on a $3-billion-dollar loan needed to save the country's...
- The IMF had conditioned the funds on unifying the country's plethora of exchange rates and a reformed bank secrecy law as well as restructuring the banking sector.
- Lebanon's meltdown has pushed most of the population into poverty while the political elite, widely blamed for the country's financial collapse, has failed to take action.
Business
UAE bodies sign MoU to establish general framework for IPOs
Dubai, UAE -- The Securities and Commodities Authority (SCA) and the Abu Dhabi IPO Fund (ADIPOF) have signed a Memorandum...
- The MoU was signed by Securities and Commodities Authority and the Abu Dhabi IPO Fund.
- The MoU aims to increase the number of IPOs, support local financial markets, and promote the country's economic stability.
Business
MBRSC, e& enterprise ink MoU
MoU will be mutually beneficial to both organizations.
- The MoU will enable e& enterprise to leverage MBRSC's expertise in AI.
- MBRSC will benefit from e& enterprise’s resources and capabilities.
Business
Presight to list on 27 Mar
Presight IPO received $496 million. It was oversubscribed 136 times.
- Presight offered 1.35 billion shares, equivalent to 24.24 per cent of the company’s paid-up capital.
- Presight reported a 35 percent rise in net profit for 2022 to reach $147 million, while its revenue increased by 63 percent to reach $265 million.
Business
Toshiba accepts $15bn buyout bid
The acceptance follows years of turmoil for the company.
- A consortium led by investment fund Japan Industrial Partners will be taking over Toshiba.
- Toshiba produces everything from rice cookers to medical equipment and nuclear plants.
Business
SATORP 2022 net profit $2.39bn
Improved refining, petrochemicals margins behind profit rise.
- The company’s revenue increased by 84 percent to 76.84 billion riyals in 2022, compared to 41.71 billion riyals the previous year.
- Total share holders’ equity reached 14.47 billion compared to 4.3 billion in 2021, the bourse statement said.
Gamers get hold of Nintendo’s hotly awaited Switch 2
Tokyo, Japan -- Gamers finally got their hands on Nintendo's new Switch 2 on Thursday, the console that could score...
Business
Company News
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Pure Health announces IPO
Business
Mumtalakat, Investcorp ink pact
Business
Google CEO says more layoffs are likely this year
SAN FRANCISCO, US - Google CEO Sundar Pichai has warned employees that more layoffs are in store at the search engine...
Business
Qatar’s IPI declines by 1.5 percent in November 2023
DOHA, QATAR – The Industrial Production index (IPI) of Qatar in November 2023 reached 91.7 points which is a fall...
Economy
EDGE Group, São Paulo government partner on public security initiative
Abu Dhabi, UAE -- EDGE, one of the world’s leading advanced technology and defense groups, has announced that it will...
Business
Most Read
Europe new car sales rebound in 2023: industry group
Automakers are facing a 2035 deadline set by the European Union to phase out sales of new combustion engine vehicles....
- Sales of new electric cars shot up by 37 percent year-on-year and accounted for 14.6 percent of those overall, European Automobile Manufacturers' Association said
- Figures marked a stark turnabout from those of 2022, when new vehicle registrations dropped to their lowest levels since 1993 as component shortages hindered automakers
Samsung’s AI pivot
Part of the company's bid to reclaim smartphone throne.
- Mobile devices will become the primary access points for AI, with Samsung aiming to be a leader on that path, Samsung president T.M. Roh said
- The premium S24 Ultra unveiled at an event was said to have the capability to translate foreign language phone calls and texts while they were taking place
Business
Bayer to cut jobs in Germany
The slashing of jobs follows huge third-quarter losses.
- According to a company press release, the job cuts will be enforced immediately and completed by the end of 2025
- The pharmaceutical giant, the makes Aspirin, employs around 22,000 in Germany and more than 100,000 worldwide