Sharjah records 361 percent growth in capital investment in H1
Sharjah, UAE -- The Sharjah FDI Office (Invest in Sharjah) has announced an exceptional increase in foreign direct investment during...
Business
Robot dogs, flying cars: five takeaways from the Munich auto show
Companies including Germany's Holon and Estonia's Auve Tech displayed small self-driving buses, designed for routes where larger buses with drivers...
Business
Business
TAQA H1 net income $1bn
The group's revenue reached $7.73 billion.
- This growth was led by higher pass-through costs in the Transmission & Distribution (T&D) segment.
- The group reduced its gross debt position to AED61.7 billion, enabled by scheduled repayments and the maturity of a corporate bond.
Business
Musk clashes with Altman after accusing App Store of favoring OpenAI
San Francisco, United States -- Elon Musk has accused Apple of unfairly favoring ChatGPT on its App Store and threatened...
- OpenAI and xAI both released new versions of their AI assistants, ChatGPT and Grok, in the past week.
- App Store rankings listed ChatGPT as the top free iPhone app on Tuesday, with Grok in fifth place.
Business
Perplexity AI offers Google $34.5 bn for Chrome browser
San Francisco, United States -- Perplexity AI offered Google on Tuesday $34.5 billion for its popular Chrome web browser, which...
- The sum proposed in a letter of intent by Perplexity is nearly double the value of the startup, which was reportedly $18 billion in a recent funding round.
- Google is awaiting a US District Court judge's decision on how to address its illegal monopoly in online search.
Business
Gulf tourists say Polish mountain town is a cool place
Zakopane, Poland -- Saudi photographer Fahad Alayyash gazed over the Alpine-like panorama of the Tatras, Poland's highest mountain range --...
- Up to seven flights fly daily from the Gulf region at nearby Krakow Airport.
- Arab customers constitute up to 30 percent of all summer guests at his five-star hotel in Zakopane.
Business
China Evergrande Group says to delist from Hong Kong
Hong Kong, China -- Embattled property giant China Evergrande Group said Tuesday it will delist from Hong Kong Stock Exchange...
- The Hong Kong bourse's listing committee decided to cancel Evergrande's listing as it had failed to meet a July deadline to resume trading, according to an exchange filing.
- Once China's biggest real estate firm, Evergrande was worth more than $50 billion at its peak and helped propel the country's rapid economic growth in recent decades.
Business
ADNOC L&S H1 net profit $420m
The company’s revenue reached $2.43bn
- ADNOC L&S’s Q2 revenue increased by 40 percent year-on-year (YoY) to US$1.258 billion (AED 4.618 billion)
- In H1 2025, the company’s revenue was $2.439 billion (AED 8.9 billion), a 40 percent YoY increase.
Business
Abu Dhabi’s AI sector expands 61% in one year: Abu Dhabi Chamber
Abu Dhabi, UAE -- Abu Dhabi’s artificial intelligence (AI) sector witnesses a 61 percent increase between June 2023 and June...
- Globally, there are approximately 90,904 AI companies as of 2024, which places Abu Dhabi’s AI company count as a notable concentration within the global landscape.
- Abu Dhabi Chamber has revealed that over 58 percent of all AI firms in the emirate are dedicated to innovation, research, and consultancy.
Business
Nvidia, AMD to pay US 15% of AI chip sales to China: reports
Washington, United States -- US semiconductor giants Nvidia and Advanced Micro Devices have agreed to pay the United States government...
- Investors are betting that AI will transform the global economy, and last month Nvidia became the first company ever to hit $4 trillion in market value.
- The US has been restricting which chips Nvidia can export to China on national security grounds.
Business
Hospitality leaders to gather in Dubai for Commercial Strategy Conference
Dubai, UAE -- The region's top hospitality professionals will converge at the Conrad Dubai Hotel on November 25-26, 2025, for...
- The eighth annual conference will showcase the industry's brightest minds and future leaders.
- Attendees can fast-track professional development with pre-conference certification courses and networking.
Business
Dubai records over 4,000 new-real estate activities in H1 2025
Dubai, UAE -- Dubai’s real estate market recorded 4,049 new activities in the first half of this year, reflecting the...
- Real estate brokerage services for property sales topped the list with 2,301 activities.
- This was followed by leasing brokerage services, accounting for 1,279 activities, reflecting the sector’s expanding broker network.
Sharjah records 361 percent growth in capital investment in H1
Sharjah, UAE -- The Sharjah FDI Office (Invest in Sharjah) has announced an exceptional increase in foreign direct investment during...
Business
Company News
EGA H1 revenue $4.11bn
Business
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Borouge to pay $660m H1 dividend
Business
Norway experiments with electric plane in real-life test
Oslo, Norway -- An electric plane took to the skies between the Norwegian airports Stavanger and Bergen on Thursday, simulating...
Science
Qatar ready to invest $21 bn in DR Congo: Kinshasa
Kinshasa, DR Congo -- Qatari investment firm Al Mansour Holding hopes to invest $21 billion in the Democratic Republic of...
Business
Global bond selloff spreads to Japan, gold hits record high
Wall Street stocks opened mostly higher, with shares in Google parent-company Alphabet shooting up nearly seven percent after winning a...
Business
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Business
Chinese cluster now world’s top innovation hotspot: UN
Geneva, Switzerland -- Shenzhen-Hong Kong-Guangzhou has overtaken Tokyo-Yokohama to become the world's top cluster for innovation, the United Nations said...
- The UN's World Intellectual Property Organization (WIPO) said the Chinese cluster had leapfrogged its Japanese rival in its 2025 Global Innovation Index.
- The change at the top of the world's 100 leading innovation clusters was down to WIPO broadening the criteria to include VC investments to formulate the annual rankings.
Business
Global passenger demand grows 4% in July: IATA
GENEVA, 31st August 2025 (WAM) -- The International Air Transport Association (IATA) said Sunday that global passenger demand grew by...
- Total capacity, measured in available seat kilometers (ASK), was up 4.4 percent year-on-year.
- Capacity was up 5.8 percent year-on-year, and the load factor was 85.6 percent (-0.4 ppt compared to July 2024).
Economy
China manufacturing shrinks in August despite new US trade truce
Beijing, China -- China's factory output ticked up in August but still recorded a fifth straight month of contraction, official...
- The Purchasing Managers' Index -- a key measure of industrial output -- was 49.4, the National Bureau of Statistics (NBS) said, up slightly from 49.3 in July.
- The last time China recorded a figure above 50 -- indicating growth -- was in March.