1 Billion Followers Summit: AI’s transformative role in content creation highlighted by YouTube, Meta, Duolingo
Dubai, UAE - The 1 Billion Followers Summit, the world’s largest event dedicated to the content creator economy, brought together...
Business
All six lines of Riyadh Metro are now operational
The Royal Commission for Riyadh City (RCRC) announced that the phased rollout of Riyadh Metro culminated as of Sunday, Jan....
Google, Apple disappoint as tech earnings hit by gloom
Google parent Alphabet's revenue of $76 billion in its fourth quarter and profit of $13.6 billion were below what it...
- Google saw a slump in its crucial advertising sales, which were slightly better than analysts had projected, according to data compiled by Factset
- Apple's revenue was $117.1 billion, down 5.4 percent from a year ago for the same quarter a year earlier, missing what analysts had forecast
Adani Enterprises shares suspended as price slumps again
Adani himself has seen his fortune plummet by tens of billions of dollars, dumping him out of the real-times Forbes rich...
- Adani Enterprises fell 10 percent at the open, while Adani Power, Adani Green Energy, Adani Total Gas and Adani Transmission were also suspended when they hit their trading stops
- The conglomerate's combined market capitalization has plummeted by more than $100 billion since US short-seller Hindenburg Research released an explosive report last week
Business
QAMCO’s profit surges by 10%
Earnings per share amounted to QR 0.165 in 2022.
- The company, which was established in December 2018, added in a statement on the Qatar Stock Exchange website that the earnings per share (EPS) amounted to QR 0.165 in 2022
- The board of directors recommended distributing cash dividends to shareholders for the year 2022 at QR0.09 per share, a nine percent of the share's nominal value
Business
KSA, UAE play well as e-gaming trends across GCC
The gaming markets in Saudi Arabia, the UAE and Egypt is expected to be worth $3.14bn by 2025, according to...
- The gaming markets in Saudi Arabia, the UAE and Egypt is expected to be worth $3.14bn by 2025, according to California-based market research and consulting firm Niko Partners
- By 2025, the GCC will contribute roughly 1.5 percent of the income generated by the global gaming sector as the industry is anticipated to grow at a CAGR of 22.5 percent
Business
Iraq hopes talks can resolve hitches in US$10bn Total deal
Iraq admitted it had differences with France's TotalEnergies over a US$10-billion contract, including over the distribution of investments, but expressed...
- The French energy giant had signed the US$10-billion contract with Iraq in September 2021.
- The partnership has struggled to materialize amid reported signs of discord between the two sides.
Economy
Iraq calls for more economic cooperation with Saudi Arabia
Baghdad is currently heavily dependent on neighboring Iran for its electricity and gas and has sought to diversify its energy...
- Iraq's foreign minister said Riyadh was ready to back Saudi companies investing in Iraq and welcomed it.
- Despite being oil-rich, Iraq suffers from crumbling infrastructure and public services, after decades of conflict.
Business
DHA, DIEZ ink MoU to support healthcare sector
DUBAI, UAE - Dubai Health Authority (DHA) has signed a Memorandum of Understanding (MoU) with Dubai Integrated Economic Zones Authority...
- The MoU aims to enhance the private health sector’s investments in Dubai and consolidate the sector’s role in the ongoing development of health facilities.
- DHA, DIEZ will develop a special framework to pinpoint innovation standards of healthcare start-ups in Dubai.
Business
ADNOC signs 23 agreements
Under the pact, the companies will manufacture products in UAE.
- The products are part of the AED70 billion ($19 billion) worth of products in ADNOC’s procurement pipeline that the company identified for domestic manufacturing in July 2022.
- Last year, ADNOC signed agreements for local manufacturing commitments worth over AED25 billion ($6.8 billion) with UAE and international companies.
Business
Telenor 2022 net profit at $4.5bn
Merger of its Malaysian subsidiary with a firm helped.
- Telenor said it had made good progress in the planned merger of its subsidiary Dtac with True in Thailand.
- The firm maintained its earnings forecast for the current year and proposed a slight increase in its dividend for 2022.
Business
Santander 2022 profit at $10.6bn
The bank's profit got a boost due to higher interest rates.
- Shareholders would receive a payout of around 40% of the group's underlying profit, divided equally between cash dividends and share buybacks
- Central banks have hiked interest rates worldwide in an effort to tame runaway inflation.
Most Read
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
1 Billion Followers Summit: AI’s transformative role in content creation highlighted by YouTube, Meta, Duolingo
Dubai, UAE - The 1 Billion Followers Summit, the world’s largest event dedicated to the content creator economy, brought together...
Business
Company News
Empower 9M revenue $618m
Business
Latest News
BMW Q3 profit drops 7.7%
Business
SAIC 9M net profit 38%
Business
10m people attend Riyadh Season 2023 events in first 50 days, says report
RIYADH, SAUDI ARABIA - According to the Riyadh Season, 10 million people took part in the activities organized in the...
Arts & Culture
Twitter breached contract on bonuses payment, rules US court
SAN FRANCISCO, US - A US federal court ruled that social media company Twitter, now branded X, violated contracts by failing...
Business
Deyaar, Arady Properties sign MoU
Deyaar is a leading real estate developer in Dubai.
Most Read
Economy
Qatar expects a decrease in inflation next year
Doha, Qatar-- Inflation in Qatar is expected to fall in 2024, according to Ali bin Ahmed Al Kuwari, the Minister...
- The Qatari finance minister said the high inflation in Qatar during 2023 was linked to high food prices, and it was a temporary phenomenon
- The minister said the total expenditure in the 2024 budget will be US$55.1 billion, a one percent compared to the current year's budget
Business
UAE, Mauritius conclude CEPA talks, set to boost trade
The CEPA will cover trade in goods and services, investment facilitation amongst others. Once implemented, it will accelerate robust growth...
- Mauritius posted an 8.5 percent GDP growth in 2022 — the fastest in 35 years
- The deal is also expected to drive FDI into fintech, healthcare and tourism sectors
Business
‘Diverse economic needs boost global sukuk market’
"Rising rates negatively impact global issuances of sukuk, thereby affecting the global sukuk market. This reduces the appetite of global...
- The Sukuk market is projected to reach $823.4 billion by Q3-2023, reflecting a significant 9.8% annual growth, indicating its continued expansion.
- Sukuk adoption is driven by factors such as filling budget gaps, diversifying funding sources, and establishing flexible financial tools for economic stability.