Apple’s latest iPad signals the company’s AI-powered future
San Francisco, United States - Apple on Tuesday announced a line of new iPad tablets revamped with a powerful AI chip...
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...
Business
Global economic concerns hit GCC equity performance
Market Report
Geostrategy
Saudi-Finnish business forum discusses enhancing trade ties
HELSINKI, FINLAND - Heading a high-level delegation to Finland, Saudi Arabia's Minister of Commerce and Chairman of the Board of...
- The Saudi delegation was in Finland to participate in a forum organized by Business Finland in cooperation with the Federation of Saudi Chambers.
- The forum was attended by around 120 officials from the public and private sectors in the two countries.
Business
Telefonica Q3 profit at $450m
Q3 revenue was up 11.6 percent at US$10.11 billion.
- The company said the results make it possible to confirm its financial targets for 2022, which it raised during the previous quarter.
- Telefonica said that it expects its core earnings growth to be "mid-to-high-end of the low single digit".
Business
Abu Dhabi Ship Building signs MoU
The deal was signed with Indonesia's state-owned shipbuilder PT Pal.
- They will build a range of interceptors, landing craft, and rigid-hull inflatable boats (RHIBs) for Indonesia’s naval and coast guard requirements.
- ADSB operates three main naval programmes: Corvettes, offshore patrol vessels and fast interceptor vessels.
Business
Villas and apartments worth $479 million sold in Dubai on Thursday
Dubai, UAE---Dubai real estate market recorded transactions worth AED2.4 billion ($653 million) on Thursday, according to Dubai Land Department. A...
- The deals include 842 sales transactions worth AED1.96 billion, in addition to 112 mortgage deals of AED487.55 million, and 17 gift deals amounting to AED30.97 billion.
- The sales included 769 villas and apartments worth AED1.76 billion, and 73 land plots worth AED195.5 million.
Economy
At Web Summit, ‘Bored Apes’ emerge from swamp but remain murky
With a blast of "Break on Through" by The Doors and a flashy video of cartoon apes careening around a...
- BAYC is a set of 10,000 auto-generated images of cartoon apes sporting various expressions and accessories, with a back story about them living in a swamp
- Enthusiasts have shelled out many millions in trading the images, which come in the form of digital tokens known as NFTs
Twitter says layoffs to begin today
A company-wide email seen by AFP says Twitter employees will receive word via email at the start of business Friday,...
- Twitter employees have been bracing for this kind of bad news since Musk completed his acquisition
- The email sent Thursday told workers to go home and not report for work on Friday
Interview
UAE a safe global oil, energy supply source: OPEC chief
Since joining the OPEC, the role of the UAE has remained clear: to increase production, maintain economic growth, achieve diversification...
- Since joining the OPEC, the role of the UAE has remained clear: to increase production, maintain economic growth, achieve diversification through other sources, and reduce costs
- The UAE, one of the largest OPEC producers, has attained a significant stature in global energy and oil markets in terms of production, refinery, storage, transport and shipping
Business
Inflation set to shape holiday shopping season
Even as the retail industry is facing unprecedented challenges, the stars are aligning to deliver another "unprecedented" holiday season, a...
- Even as the retail industry is facing unprecedented challenges, the stars are aligning to deliver another "unprecedented" holiday season, a latest report points out
- Amidst the ongoing Inflationary pressure, the cost of goods is rising faster than what can reasonably be passed on to consumers, the Salesforce research highlights
Business
World Cup buzz includes drills, hammers as Qatar races to be ready
A short drive north, sparks from drills and grinders light up a Doha golf club, where workers are constructing a...
- Across the Qatari capital, new hotels are opening, spectacular street art has gone on display and the flags of the 32 competing nations dominate avenues
- At the Katara 'cultural village', a huge white hotel resembling India's Taj Mahal remains part-shrouded in scaffolding
Economy
German industries explore investment opportunities in UAE
Some of Germany’s leading industrial companies participated in a roundtable event hosted by the UAE Ministry of Industry and Advanced...
- From the UAE side, representatives from ADNOC, Abu Dhabi Department of Economic Development, Abu Dhabi Investment Office, and TAZIZ were present.
- The delegates also discussed the future of supply chain opportunities in a post-pandemic world.
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
Apple’s latest iPad signals the company’s AI-powered future
San Francisco, United States - Apple on Tuesday announced a line of new iPad tablets revamped with a powerful AI chip...
Business
Company News
Latest News
Global economic concerns hit GCC equity performance
Market Report
Indonesia’s exports to UAE expected to rise by $4bn with CEPA trade pact
Jakarta, Indonesia - The Comprehensive Economic Partnership Agreement (CEPA) is expected to increase Indonesia’s exports to the UAE by around...
Economy
‘Sustainable aviation fuel roadmap required urgently’
"The global air transport sector has rebounded to pre-COVID-19 pandemic levels of 2019, with some countries already surpassing these levels,"...
Business
AI transforms office roles and enhances productivity
Artificial intelligence automates tasks and boosts capabilities, leading to transformative changes in job roles, productivity, and staff engagement dynamics.
Business
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Business
Saudi Arabia raises US$11bn syndicated loan to fund deficit
RIYADH, SAUDI ARABIA - Saudi Arabia raised a syndicated loan of US$11 billion (SAR 41.25 billion) to fund a budget...
- The 10-year loan was funded by a group of banks including Industrial and Commercial Bank of China
- Citigroup Inc, First Abu Dhabi (FAB), and HSBC Holdings Plc,will help in funs according to sources familiar with the matter.
Geostrategy
UAE approves Dubai Metro Blue Line project
DUBAI, UAE - Vice President, Prime Minister and Ruler of Dubai Sheikh Mohammed bin Rashid Al Maktoum has approved the...
- Sheikh Mohammed underscored that investments in infrastructure projects align with Dubai's strategy for comprehensive city development.
- This is a new 30 kilometer metro route that will strategically link key areas in the emirate through 14 stations,
Business
Saudi minister says 6,225 industrial firms from Kingdom invest US$30bn in Egypt
RIYADH, SAUDI ARABIA - A total of 6,225 Saudi industrial businesses are operating in Egypt with US$30 billion worth of...
- At least 518 Egyptian companies are operating in the Saudi market, the minister said.
- He said that over 285 Egyptian brands are spread out across the Kingdom.