Apple explores making personal robots
It is working on a robot that may be helpful to people.
Business
EasyLease buys stake in United Trans
This helps EasyLease expand its presence in mobility sector.
Business
Business
VW, Horizon Robotics plan JV
JV will help in strengthening VW's presence in China.
- Volkswagen's software arm Cariad will hold a 60 percent stake in the new company, with the deal set to close in the first half of 2023.
- As part of its transition to electric vehicles, Volkswagen has long been investing in China.
Business
Camel Club, Riyadh Chamber to promote camel culture as Saudi heritage
Riyadh, Saudi Arabia---The Saudi Arabia's Camel Club and Riyadh Chamber of Commerce have signed an MoU to develop and create...
- The two entities signed an MoU that also aims at creating investment opportunities in the camel sector.
- Providing support and assistance to the club when holding international conferences are other aims of the MoU.
Business
Oman & Emirates Co. Q3 net profit $5.6m
The profit for the same period in 2021 was 538,832 OR.
- Oman & Emirates Investment Holding Company was established through the Royal Decree in 1993, as an joint venture between Oman and UAE.
- O&E is registered as an Omani Joint Stock Company traded in Muscat, Abu Dhabi and Dubai Securities Markets.
Business
Infosys Q2 profit at US$731.4m
The firm approved a $1 billion share buyback after Q2 result.
- Tech companies have benefited from higher digital services demand since the pandemic,.
- Infosys also reported a marginally lower employee attrition rate - a key metric for IT companies - compared to the previous quarter.
Business
Fast Retailing posts yearly net profit at US$1.86bn
Firm owns Uniqlo, Comptoir des Cotonniers clothing brands.
- Following years of aggressive global expansion, Fast Retailing is one of the world's biggest clothing retailers.
- As well as Uniqlo, it owns the clothing brands Theory, Comptoir des Cotonniers and lingerie label Princesse Tam Tam.
Business
ADNOC awards $980m contract
The contract awarded to ADNOC Drilling to hire offshore rigs.
- ADNOC Drilling is the largest national drilling company in the Middle East by rig fleet size.
- Over 80 percent of the award value will flow back into the UAE’s economy under ADNOC’s In-Country Value (ICV) programme.
Business
Musk jokes new perfume launch to fund Twitter purchase
Musk is expected to complete a $44-billion takeover of Twitter by the end of the month. If he fails to...
- The world's richest man's Twitter bio now describes him as a "Perfume Salesman" and a link to the product's sale page is included as a pinned tweet
- The ad for the perfume shows a ruby red bottle with the name engraved on the front in script and its tagline reads, "The Essence of Repugnant Desire"
Business
Burjeel Holdings set to expand to Oman, Saudi Arabia
The company is raising capital to support the ongoing expansion in the UAE and Oman, and pending entry into Saudi...
- The company is raising capital to support the ongoing expansion in the UAE and Oman, and pending entry into Saudi Arabia, the founder Dr Parambath said
- In the UAE Burjeel has built the cancer centre, the mother care services, as well as the orthopaedic and diagnostic networks
Science
World’s first space tourist plans new flight to Moon with SpaceX
Musk has promised the rocket will complete its first orbital test this year, and a version of Starship has already...
- The weeklong mission would see Starship fly within 125 miles of the lunar surface before returning home
- The voyage will take place after Elon Musk's company has finished developing its prototype Starship rocket
Business
Video highlights: Futuristic TOP CEO 2022 discusses economic opportunities
The TOP CEO Conference, held in Dubai in Q2, discussed several burning global and regional issues of the time. It...
- The TOP CEO Conference in Dubai in the second quarter of 2022 discussed several burning global and regional issues of the time
- It brought together Arab and international business leaders and experts to discuss several topics under the theme of The Great Business Reset
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Apple explores making personal robots
It is working on a robot that may be helpful to people.
Business
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UAE awards EDGE $65m contract to supply unmanned aerial systems
Abu Dhabi, UAE – ADASI, the EDGE Group entity, a regional leader in autonomous systems and services, said on Thursday...
Business
Alibaba shares dive more than 7% after cloud service called off
Alibaba is a key player in China's expansive digital economy and the operator of a major online shopping platform. The...
Focus shifts to societal impact and ethical use of AI
AI and data stakeholders will gather at Global Data Dialogue 2023 -- to be hosted in Dubai next week by...
Business
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Business
Emirates sign deal with Airbus to buy 15 A350-900s
Dubai, UAE - Dubai-based Emirates on Thursday announced an order for 15 long-haul Airbus A350-900s, bringing to 110 the number of...
- "The A350-900s will add to our fleet mix and we are pleased to announce additional orders for this aircraft type, said Emirates official
- "We plan to deploy our A350s to serve a range of new markets including long-haul missions of up to 15 hours flying time from Dubai," he added
Business
Tabreed 9M profit at $218m
This is due to the steady growth in its consumption volumes.
- Tabreed delivers strong growth, with revenue soaring 10 percent to US$490 million in January-September 2023.
- This is a 10 percent increase in revenue year-on-year, compared to US$460 million in January-September 2022.
Business
Siemens posts record profit
Its shares rose over 6 percent on the Frankfurt Stock Exchange.
- The company, whose businesses range from making trains to automating production processes, earned a net profit of $8.62 billion in 2022-2023.
- Sales, at $84.6 billion, rose 11 percent on the previous year while for 2024, the group expects revenue to grow in a range of between 4 and 8 percent.