TOURISE 2025: Riyadh to host premier summit for sustainable tourism
Riyadh, Saudi Arabia -- Saudi Arabia's Minister of Tourism, Ahmed Al-Khateeb, has officially unveiled TOURISE, a groundbreaking global platform set...
Business
Turkey says increasing energy exports to war-torn Syria
Damascus, Syria -- Turkish Energy Minister Alparslan Bayraktar said Thursday in Damascus that his country would ramp up energy exports...
Business
Business
QDB signs MoU with Global Ventures
The collaboration is expected to boost private sector in Qatar.
- The two agreements align with the bank's initiatives to bolster the private sector and create investment opportunities
- The collaboration will enhance the provision of training programs and field training to equip investors and fund managers
Business
Reliance, Disney announce giant India media merger
The statement said Disney will hold 36.8 percent, Reliance will hold a 16.3 percent stake, and Viacom18 another 46.8 percent....
- India's entertainment market is already one of the world's biggest, with the merger expected to further shake up the multi-billion-dollar industry
- Reliance, an oil-to-telecom conglomerate led by billionaire tycoon Mukesh Ambani, will invest $1.4 billion into the new company
Business
Saudi real estate sees new era of growth, innovation
The Kingdom's property sector is driven by a projected $3 trillion GDP by 2030 and evolving consumer preferences towards homes...
- The Kingdom's property sector is driven by a projected $3 trillion GDP by 2030 and evolving consumer preferences towards homes equipped for remote work and wellness.
- Amid evolving market needs, there's a rising demand for flexible workspaces and experiential retail and hospitality spaces, coupled with demand for commercial office space.
Business
Meta chief discusses AI risks with Japan PM during Asia tour
The 39-year-old mixed business with pleasure while in Japan, going skiing with his family and learning about sword-making from a...
- Meta chief Mark Zuckerberg is on a mini-tour of Asia that includes stops in Japan, India and South Korea, where he travelled on Tuesday night
- He and Kishida met and discussed a broad range of topics including the status of AI's technological advancement and the risk surrounding generative AI
Business
Apple drops electric car plans
It had dedicated nearly 2,000 workers for the program.
- According to media reports, the target of "Project Titan" began around 2014 to develop a fully autonomous car
- The company has never publicly disclosed its EV plans, despite a steady drip of media leaks over the years
AI the new obsession for venture capital investing
Stung by the struggles of cryptocurrency and other faded Silicon Valley fads of recent years, venture capitalists have quickly doubled...
- While layoffs and budget tightening became routine at tech firms last year, startups in the AI sector raised nearly $50 billion from investor, according to market trackers
- Scared off by the cost of entry, many venture capitalists have turned their attention to more narrowly focused AI startups that could shake up banking, healthcare and energy
Business
Nissan plans self-driving taxi service in Japan
It has been testing self-driving mobility services since 2017.
- Nissan said it will begin trials of the commercial service in the upcoming financial year from April, using minivans in south of Tokyo
- The company says it has been "testing business models for self-driving mobility services in Japan and abroad since 2017"
Business
Bitcoin surpasses $57,000 as crypto rally remains strong
Dubai, UAE - The price of Bitcoin on Tuesday surged past $57,000, demonstrating the continued strength of the cryptocurrency market...
- The rise follows Bitcoin's climb above $54,000 on Monday, a milestone not reached since December 3, 2021
- The cryptocurrency has been experiencing a bullish trend since January 11, when the US Securities and Exchange Commission approved spot Bitcoin ETFs
Economy
Iran becomes world’s ninth biggest steel producer, says WSA
TEHRAN, IRAN – The Middle Eastern country has improved its global standing in steel production, becoming the ninth largest producer...
- In the first month of 2024, Iranian steel mills produced a total of 2.6 million tons of steel.
- The world's 71 steel-producing countries produced 148.1 million tons of steel in January 2024.
Business
Chevron $53bn Hess deal in danger
Rivals' challenge to the control of a key oil asset can derail the acquisition.
- The issue concerns Hess's 30 percent stake in the Stabroek Block offshore Guyana, a mammoth oilfield that was a driver of the takeover.
- Stabroek is operated by US giant ExxonMobil, which has a 45 percent stake. Chinese company Cnooc holds the remaining 25 percent of the project.
TOURISE 2025: Riyadh to host premier summit for sustainable tourism
Riyadh, Saudi Arabia -- Saudi Arabia's Minister of Tourism, Ahmed Al-Khateeb, has officially unveiled TOURISE, a groundbreaking global platform set...
Business
Company News
Lithium-sulfur batteries will transform energy storage, says Lyten’s Horvath
World Economic Forum
Latest News
AI’s US$19.9tn contribution: Insights from Tealium on digital economy’s future
By 2030, every dollar spent on AI-powered solutions is expected to generate US$4.60 in economic value, according to global analyst...
Interview
GCC a key player in global freight and logistics industry, says Trukkin’s Dalmia
The region leverages a strategic major hub, advanced infrastructure, and economic diversification to fuel logistics demand, says Janardan Dalmia, Founder...
Interview
Logistics: At the heart of economic activity
The global logistics market is expected to be around US$10 trillion in 2024, and is estimated to reach US$21.91 trillion...
Analysis
Most Read
Opinion
New-Age Growth Comes Home to the GCC
The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading...
- The GCC’s ongoing “giga” projects, economic diversification, focus on the digital economy, and emerging technologies all signal a promising future.
- With over US$2 trillion invested in capital-intensive projects, the GCC’s future looks increasingly secure, despite persistent negative portrayals in parts of the Western media.
Analysis
The future is already here
Humanity is on a tech-fueled trajectory. Data and informed predictions are inspiring, showing how AI is reshaping economies, smart cities...
- The global travel and tourism industry is projected to contribute over $15 trillion annually to the world economy by 2030.
- By 2035, 60% of the city traffic and emissions can be reduced thanks to shared autonomous electric vehicles.
Business
Salik 2024 net profit before taxes $348m
The toll operator's revenue increased by 6% to $626 million.
- The company said that EBITDA for the full year reached AED1.6 billion, a 13.6 percent YoY growth.
- The Board of Directors proposes a dividend of AED619.8 million to be paid during H1 2025 (equivalent to 8.2645 fils per share).