Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath
Lyten, a Silicon Valley-based company, is revolutionizing the energy storage market with its groundbreaking lithium-sulfur battery technology. These batteries offer...
World Economic Forum
Hong Kong’s property distress hurting banks
Distressed property sales in Hong Kong are beginning to bite banks with average prices of office buildings, shopping malls and...
Business
Nintendo shares tumble 8.5%
Its next-generation console will be delayed until 2025.
- A news report said the next console would miss the key Christmas holiday shopping period in December
- The gadget is fading with the console now in its seventh year, but the company is tight-lipped about its plans
Business
Qatar real-estate trading volume in January stands at US$521m
Doha, Qatar--The volume of real estate trading in sale contracts registered with the Real Estate Registration Department at the Ministry...
- According to a bulletin issued by the Ministry of Justice, some 362 real estate transactions were recorded during the month
- The value of Doha municipality's transactions came out at $324 million, as per the real estate market index for January 2024
Business
Aamal net profit up 5.7%
Its gross profit jumped 3.1% to US$137.25m in 2023.
- According to a company's statement. Its gross profit shot up 3.1 percent to $137.25 million.
- Its chairman said the performance of their trading and distribution segment was noteworthy
Business
GCC emerges as a cryptocurrency investment hub
Driven by government initiatives, economic diversification and a tech-savvy population, the region is becoming a prominent center for cryptocurrency investment,...
- Driven by government initiatives, economic diversification and a tech-savvy population, the region is becoming a prominent center for cryptocurrency investment, says an expert.
- Hao Yang of Bybit highlights the sector's regulated nature, its accessibility beyond tech-savvy individuals, and the importance of education and due diligence behind its growth.
Economy
Saudi holdings of US Treasuries surge to $131.9b in December 2023
ABU DHABI, UAE - Saudi Arabia’s holdings of US Treasuries reached US$131.9 billion in December 2023, up $3.8 billion month-on-month,...
- The Kingdom maintained 16th place among the largest holders of US treasury securities for December.
- Saudi Arabia’s holdings of US Treasuries were distributed among long-term and short-term bonds.
Business
HMG 2023 net profit $544m
The rise was due to the hospitals and pharmacy segments.
- The increase in net profit came as revenues edged up 14.41 percent year-on-year (YoY) to US$2.5 billion (SAR 9.5 billion).
- Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 18.49 percent YoY to US$666 million (SAR 2.5 billion).
Business
OpenAI valued at $80bn in new deal
With this deal, the value of the firm has tripled in 10 months.
- The deal would have the San Francisco-based firm selling existing shares to investors led by Thrive Capital
- The tech firm led a revolution in artificial intelligence when it placed its ChatGPT program online in late 2022
Business
Saudi Arabia aims to build ties with Canada in scientific and research fields
Riyadh, Saudi Arabia-- Saudi Arabia is exploring investment opportunities in education and aiming to attract investments to the kingdom from...
- The Saudi education minister explored investment opportunities in education, besides seeking to foster scientific and research collaboration between the two countries
- The visit of the Saudi delegation also looked to consolidate the partnerships between the kingdom's ministry of education and Canadian universities and colleges.
Opinion
Zero trust remains an ongoing cybersecurity evolution
Achieving Zero Trust Data Resilience is not an overnight task but a journey requiring organizational alignment, continuous adaptation, and the...
- Zero Trust is a mindset, not a destination, requiring continuous evolution in cybersecurity practices.
- Cybersecurity is an arms race, with the need to adapt and evolve to remain ahead of online threats.
Geostrategy
Lebanon judge charges Nissan employees for allegedly stealing Ghosn documents
BEIRUT, LEBANON - A Lebanese judge has charged four Nissan employees with the theft of documents and devices from the Beirut...
- A lawyer for the company said that the legal action was "unlawful" and that they would seek to have the charges thrown out.
- The Beirut judge has decided to prosecute "four senior Nissan officials" of Japanese, Spanish, French and British nationalities.
Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath
Lyten, a Silicon Valley-based company, is revolutionizing the energy storage market with its groundbreaking lithium-sulfur battery technology. These batteries offer...
World Economic Forum
Company News
Liberty Media buy MotoGP
Business
Latest News
Omantel approves cash dividend
Business
NEOM, Saudi Red Sea Authority to partner in marine tourism
NEOM, Saudi Arabia -- Saudi Red Sea Authority (SRSA) has signed a memorandum of understanding (MoU) with NEOM to collaborate...
Business
Gaza truce talks resume in Egypt, without Israel for now
Mediators from Qatar, Egypt and the United States have been waiting for Hamas to respond to a proposal that, according...
Business
Audi’s sustainable Middle East luxury drive
The Arab countries are experiencing a significant surge in the adoption of electric vehicles (EVs), particularly favoring premium models, says...
Business
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Business
30% productivity leap: Building the machinery of tomorrow
By embracing digital tools, AI, and sustainable practices, companies can optimize production, redefine their role, and propel themselves towards a...
- New players are emerging, offering advanced digital solutions that boost shareholder returns and revolutionize customer experiences
- Siloed thinking, a failure to integrate new technologies with existing operational models, and an overreliance on traditional lean manufacturing methods can hinder progress
‘Dubai, Abu Dhabi, Riyadh, Bahrain have reinforced position as top GCC tourist spots’
GCC region is a hidden gem, offering a distinct blend of Arabic culture and history, Fahim Jalalli, CEO of Kanoo...
- What began with Emirates and Dubai has expanded to include Abu Dhabi, Qatar, Bahrain, and Saudi Arabia, says Fahim Jalalli, CEO of Kanoo Travel
- The region hosts numerous trade shows, conferences, and exhibitions, and have so many hotels that are capable of accommodating tens of thousands of attendees, he adds
Business
Top U.S. stock indices drop for third consecutive day on Wednesday
The S&P 500 dropped for a fourth consecutive session on Wednesday, as Nvidia and other struggling technology names put downward...
- Technology-heavy Nasdaq Composite slid 1.15% to 15,683.37
- Asian shares advanced on Thursday even after sinking technology stocks sent Wall Street lower