Saudi Arabia unveils ‘Colour Your Summer’ program, targeting 41 million visitors
Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector is poised for an unprecedented summer season, with the official launch of...
Business
Trump expands Apple tariff threat to all smartphones
Washington, United States -- US President Donald Trump on Friday threatened Apple and other smartphone manufacturers with a 25 percent...
Business
Business
US private sector employment surges by 242,000 jobs in Feb
"We're seeing robust hiring, which is good for the economy and workers, but pay growth is still quite elevated," said Nela...
- The employment in private sector increased by 242,000 jobs in February, almost twice the 119,000 figure in January.
- This follows a series of recent indicators showing that hiring remained strong, consumer spending resilient.
Business
CVC to invest in WTA
The company likely to buy 20 percent stake.
- The WTA tour includes more than 70 events annually but it has suffered financially from suspending tournaments in China and Hong Kong.
- Liberty Media bought CVC's stake from Formula One in 2016 but the firm owns an Indian Premier League franchise.
Business
Ducab 2022 revenues up 19%
The company said the metal business alone grew by over 23 percent.
- The cable business increased by more than 9 percent during the same period, the company said.
- Ducab Group recently announced the opening of its new headquarters in the Indian city of Bengaluru.
Business
Siemens bags long-term service contracts for Iraqi power plants
Abu Dhabi, UAE -- Siemens Energy has been awarded long-term service contracts for several Iraqi power plants to improve energy...
- These contracts represent the first portion of prioritized projects under the Iraq Energy Agenda – Wave II agreement, which was signed in Berlin in January 2023.
- As part of the prioritized packages, Siemens Energy signed three long term service contracts, for five years each, for the Al Sadr, Kirkuk, and Al Rasheed power stations.
Business
Fraudsters prowl digital world, robbing unwary people in Middle East
Dubai, UAE-- Making payments digitally for every purchase may have become a universal thing, but it is not always the...
- According to the survey, the majority of users (92%) lost up to $1,000 as a result of these incidents, while (8%)of the respondents reported a loss of more than $1,000
- In the Middle East alone, the company blocked more than 1.8 million financial threats and out of them 256,708 in the United Arab Emirates
China’s students use ChatGPT for homework, learning English
Students are also using ChatGPT to bypass China's lucrative English language test prep industry, in which applicants learn thousands of...
- With its ability to produce A-grade essays, poems and programming code within seconds, ChatGPT has sparked a global gold rush in artificial intelligence tech
- Although in China, the service is unavailable without a VPN, over a dozen students told AFP they have used it to write essays, solve science and maths problems
Business
Jebel Ali Free Zone 2022 customer registrations highest in decade
Dubai, UAE -- DP World’s Jebel Ali Free Zone (Jafza) witnessed the highest customer registrations in a decade in 2022,...
- During the past 10 years, Jafza has seen a 13-fold increase in logistics customers, while the vehicle and transport segment saw a compound annual growth rate of 26 percent.
- The number of newly registered Chinese companies in Jafza saw a four-fold increase in 2022, indicating a post-pandemic, healthy demand from the Far East.
Economy
White House endorses bipartisan bill empowering US to ban TikTok
The Senate bill and the backing of the White House accelerated the political momentum against TikTok, which is also the...
- The bill was backed by Mark Warner, a senior US senator from the Democratic party, and John Thune, a South Dakota Republican
- TikTok reacted by again pointing to its months of negotiations with the Committee on Foreign Investment in the United States (CFIUS)
Business
Lego to gain market share
Excluding currency effects, the sales gain was 11 percent.
- For 2022, net profit at the Danish firm rose four percent to a record 13.8 billion kroner ($1.98 billion).
- The company has been buoyed both by sets based on franchises such as Star Wars and Harry Potter.
Economy
US interest rate likely to rise, says Federal Reserve head
US interest rates will likely peak at a higher level than previously anticipated due to economic data that came in...
- The US central bank has raised its benchmark lending rate eight times since early last year.
- US job gains had surged unexpectedly in January while unemployment slipped to its lowest rate in more than five decades.
Saudi Arabia unveils ‘Colour Your Summer’ program, targeting 41 million visitors
Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector is poised for an unprecedented summer season, with the official launch of...
Business
Company News
Infracorp logs $29.8m profit
Business
Latest News
Qatar Chamber and CzechTrade look to boost trade cooperation
Doha, Qatar--Qatar and Czech Republic are looking to ramp up trade and investment cooperation between the two countries. In this...
Business
DEWA unveils new distribution substations
It commissioned 1,414 substations of 11kv in Dubai.
Business
GCC’s cybersecurity dynamics: The two sides of AI
In the GCC's evolving cybersecurity realm, AI integration is crucial, driving economic growth and transforming defense strategies against complex cyber...
Business
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Business
PureHealth buys Circle Health
The deal signifies PureHealth’s operational capabilities.
- The completion of this transaction further strengthens PureHealth’s commitment to becoming a leading global player in healthcare.
- The company’s expansion into the UK healthcare market reflects its focus on advancing the science of longevity and unlocking time for humanity.
Business
Global personal computer shipments decline 14.8 percent in 2023
DUBAI, UAE - Worldwide PC shipments totaled 63.3 million units in the fourth quarter of 2023, a 0.3 percent increase...
- PC shipments reached 241.8 million units in 2023, a 14.8 percent fall from 2022.
- This is the first time that shipment volume has dipped below 250 million since 2006.
Business
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...
- Argaam reported that the number of male investors reached 4.48 million in Q3 2023, while the number of female investors grew to 1.58 million.
- The number of portfolios, which is almost twice the number of investors, indicates that some investors have more than one investment portfolio.