Trump threatens Apple with a 25% tariff if iPhones aren’t made in US
Washington, United States -- US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones...
Business
Ads pressured to evolve as AI changes Google search
San Francisco, United States -- As Google races to lead in artificial intelligence, it faces the challenge of making sure...
Business
Business
Trailblazing women transform finance in Arab world
Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.
- Extraordinary Arab women are breaking barriers and setting new precedents in the traditionally male-dominated sectors of banking, finance, and investments.
- The leadership of these daring females not only drives economic growth but also inspires a new generation of women to pursue careers in finance in the region.
Business
Toyota to invest US$2.2bn in Brazil
The automaker will beef up production of hybrid vehicles.
- The automaker will make two "flex hybrid" models in Brazil -- using either petrol or ethanol as well as batteries -- creating around 2,000 jobs
- Japan's automakers, in spite of the boom in electric cars, have relied on hybrid vehicles that combine internal combustion engines and batteries
OpenAI denies Musk’s ‘betrayal accusations, plans legal dismissal
OpenAI captured the public imagination in late 2022 with the release of its chatbot ChatGPT, which can generate poems and...
- Musk launched a legal case against OpenAI last week, arguing in documents filed in a San Francisco court that the firm was always intended as a nonprofit entity
- The Tesla Boss was one of the co-founders of OpenAI in 2015 along with Sam Altman but left the organization in 2018 and is now one of its most vocal critics
Business
FAB shareholders approve dividend
The 50% cash dividend would be to the tune of US$2.12bn.
- The annual meeting commended the bank's three consecutive years of accelerated business momentum, and its strong platform for future growth
- The bank's CEO said that FAB achieved a record net profit of $4.46bn and $7.56bn in revenue in 2023, fueled by growth across all core businesses
Business
Over 105m people visit Dubai Mall in 2023
DUBAI, UAE – Dubai Mall welcomed a record 105 million visitors in 2023, a jump of over 19 percent on...
- Figures also showed a staggering 20 million people visited the mall in the first two months of this year alone.
- The mall's events and promotions in 2023 and the beginning of 2024 were a key driver of its foot traffic.
Business
Asian markets mostly down as China sets 5 percent growth goal
Hong Kong, China - Asian markets largely fell on Tuesday after China set an ambitious five percent annual growth target and...
- Tokyo finished flat, a day after Japan's benchmark Nikkei index hit a record high, closing above 40,000 points for the first time.
- Sydney, Seoul, Mumbai, Jakarta, Bangkok, Singapore, Manila and Kuala Lumpur were down, while Taipei and Wellington were up.
Geostrategy
Tesla stops production at German plant after suspected arson attack
Michael Stuebgen, interior minister for Brandenburg state, said that "if initial findings are confirmed, this is a perfidious attack on...
- Emergency services were called to reports of a burning electricity pylon southeast of Berlin in the early hours, in the area the factory is located
- But it knocked out power to the Tesla factory, as well as surrounding villages, and police have launched an investigation into suspected arson
Business
TECOM 2023 net profit $299m
Revenue in 2023 grew by 10 percent YoY to $599 million.
- The approved cash dividend payment is in line with the dividend policy set out in the IPO prospectus
- TECOM Group committed to paying a dividend amount of $217 million per annum through September 2025.
Food dispatch app Uber Eats launches robot deliveries in Tokyo
Uber Eats' boxy robots have square headlights for eyes and three wheels on each side to navigate kerbs as they...
- Starting Wednesday, robot deliveries will be offered in a small area of the city by the US-based food app, which hopes to eventually roll out the service more widely in Japan
- Japan changed traffic laws last year to allow delivery robots on public streets and other companies including Panasonic are also trialing cute new machines to transport goods
Business
ADNOC partners with Viola Communications
They will utilize outdoor media-leasing spaces for advertising.
- Viola will set up and operate outdoor media advertising solutions on ADNOC assets in strategic locations across the capital
- The company's diverse assets are expected to boost the local business ecosystem and introduce innovative revenue streams
Trump threatens Apple with a 25% tariff if iPhones aren’t made in US
Washington, United States -- US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones...
Business
Company News
DAE net profit up 36.2%
Business
Latest News
Borouge 2024 net profit $1.24bn
Business
Risks are interconnected, need collaborative solutions, says WEF’s Mark Elsner
World Economic Forum
Norway nears 100% goal of all-electric cars
Geostrategy
Borouge proposes share buyback
The company had posted a 24% YoY increase in net profit to $1.24bn.
Business
China’s Baidu releases new, free AI model to compete with DeepSeek
Baidu announced in a WeChat post that its latest X1 reasoning model -- which the company claims performs similarly to...
Business
The future of logistics: Insights from DHL’s Amadou Diallo
The future of logistics is a convergence of technology, sustainability, and human ingenuity, which are transforming supply chains into more...
Interview
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Business
DAE to acquire 17 aircraft for $1 bn
This portfolio comprises 100 percent next-generation aircraft
- Eighty percent of the aircraft are manufactured by Airbus, and 20 percent are manufactured by Boeing.
- These aircraft are expected to reduce DAE’s weighted average passenger fleet age to 6.9 years.
Interview
Electric, hybrid and aerial to entirely transform city life: IIT Madras expert
Easier commutes with faster, quieter, and eco-friendly vehicles would reduce travel times significantly and reduce stress for urban residents, says...
- Large and hugely populous Asian countries like India have abundant sunlight, making solar power a natural fit for supporting EV adoption.
- The ePlane Company’s air taxis will revolutionize urban transport by offering faster and more efficient ways to move within cities.
Business
DP World posts record $20bn revenue
The adjusted EBITDA rose by 6.7% to $5.5bn in 2024.
- DP World capacity exceeded 100 million TEU due to selective infrastructure investment in key growth markets.
- Capital expenditure of $2.2 billion ($2.1 billion in 2023) was invested across the existing portfolio.