Mawani adds FRS1 shipping service to Jeddah Islamic Port
Jeddah, Saudi Arabia -- The Saudi Ports Authority (Mawani) has added CStar Line's new Far East-Red Sea service (FRS1) to...
Business
Gulf Air orders 12 Boeing 787 Dreamliners for $4.6 billion
San Francisco, United States -- US aviation giant Boeing on Thursday signed a contract worth billions of dollars to sell...
Business
Interview
A hospitality trailblazer talks resilience in a shifting global landscape
Duncan O’Rourke, CEO, Premium, Midscale, and Economy Division for Middle East, Africa and Asia Pacific at Accor, spells out the...
- The CEO stressed that Accor’s robust development pipeline and ambitious growth across Saudi will deliver 44 additional hotels by 2030.
- Accor's lifestyle division, Ennismore, is now the world’s largest and most innovative lifestyle hospitality player in the industry.
Business
ADNOC Gas announces $5 billion investment in Rich Gas Project
Abu Dhabi, UAE -- ADNOC Gas announced Tuesday it has made a final investment decision on the first phase of...
- UK-based firm Wood secured the largest tranche, valued at $2.8 billion, for work at the Habshan facility.
- Petrofac will lead a $1.2 billion project for the Das Island facility, while Kent Plc will manage a $1.1 billion project covering the Asab and Buhasa sites.
Science
IBM claims ‘real world’ edge in quantum computing race
San Francisco, United States -- Technology veteran IBM on Tuesday laid out a plan to have a "practical" quantum computer...
- Current quantum computers are still experimental and face significant challenges, including high error rates.
- Companies like IBM, Google, and others are working to build more stable and scalable quantum systems.
Business
Qualcomm to Alphawave for $2.4 bn
The deal makes Alphawave the latest tech company to depart London.
- Last week, UK fintech Wise, specializing in international money transfers, said it plans to shift its primary listing from London to New York.
- For California-based Qualcomm, the acquisition will help boost its AI infrastructure amid soaring demand for the technology.
Geostrategy
Leaders warn race for minerals could turn seabed into ‘wild west’
Growing anxiety over Trump's unilateral push to fast-track deep-sea mining in international waters shot to the surface at the opening...
- The number of countries opposed to seabed mining rose to 36 on Monday, according to a tally kept by the Deep Sea Conservation Coalition, an umbrella group of NGOs.
- Trump was not among the roughly 60 heads of state and government in Nice but his specter loomed large as leaders defended the global multilateralism he has spurned.
Business
MENA Mergers & Acquisitions deal value up 66% in Q1, hits $46 Billion
Dubai, UAE -- The Middle East and North Africa (MENA) region has kicked off 2025 with a record-breaking first quarter...
- According to Saudi M&A Consulting, this robust growth reflects rising investor confidence, favorable regulatory reforms, and strong macroeconomic fundamentals across the region.
- Cross-border M&A accounted for 81 percent of total deal value and 52 percent of the total number of transactions, with 117 deals executed, the highest in the last five years.
Business
US aerospace manufacturers insist they have no use for tariffs
New York, United States -- US airlines and aerospace manufacturers insist they have no use for tariff protections, warning that...
- US aerospace and defense exports reached $135.9 billion in 2023, including $113.9 billion for civil aviation alone.
- This allowed the sector to generate a trade surplus of $74.5 billion and to invest $34.5 billion in research and development.
Business
Apple under pressure to shine after AI stumble
Apple will showcase plans for its coveted devices and the software powering them at its annual Worldwide Developers Conference (WWDC)...
- The event comes a year after the tech titan said a suite of AI features it dubbed "Apple Intelligence" was heading for iPhones, including an improvement of its Siri voice assistant
- Industry insiders will be watching to see whether Apple addresses the AI stumble or focuses on less splashy announcements.
Business
Gamers get hold of Nintendo’s hotly awaited Switch 2
Tokyo, Japan -- Gamers finally got their hands on Nintendo's new Switch 2 on Thursday, the console that could score...
- The device, which features a bigger screen and more processing power, is an upgrade to the Switch that became a global phenomenon with hit games such as "Animal Crossing".
- The original Switch has sold 152 million units since its 2017 release, making it the third-best-selling console ever.
Business
Equinor signs $27 bn gas deal
The 10-year contract was signed with Centrica.
- Natural gas accounts for 38% of UK's total energy supply, according to the IEA, making it the top fuel source, and the nation depends heavily on imports.
- Russia's invasion of Ukraine and Western sanctions roiled energy markets, sparking a rise in prices that British consumers are still struggling with.
Mawani adds FRS1 shipping service to Jeddah Islamic Port
Jeddah, Saudi Arabia -- The Saudi Ports Authority (Mawani) has added CStar Line's new Far East-Red Sea service (FRS1) to...
Business
Company News
Latest News
Nvidia tops $4 trillion as US stocks shrug off latest tariffs
After Congress gave Trump a big win last week with his fiscal package, the Republican's aggressive trade posture has returned...
Business
Trump says ‘no extensions’ to Aug 1 tariff deadline
While Trump imposed a sweeping 10 percent tariff on goods from almost all trading partners in April, higher rates customized...
Geostrategy
Dubai Islamic Bank completes $1bn sovereign financing Pakistan
Dubai, UAE -- Dubai Islamic Bank (DIB) has announced the successful completion of a landmark US$1 billion syndicated term-finance facility...
Geostrategy
Most Read
Business
Saudi chocolate industry booms with over 3,500 commercial records
Riyadh, Saudi Arabia -- On the World Chocolate Day, Saudi Arabia's Ministry of Commerce announced that the total number of...
- Riyadh leads the Kingdom in chocolate manufacturing, boasting 1,490 commercial records.
- Saudi Arabia is the region’s biggest market for chocolates and, in 2024, the Kingdom imported a whopping 123 million kg of chocolate.
Business
Eyeing early release, prison inmates produce Bulgaria’s coveted dairy products
Smolyan, Bulgaria -- At a prison nestled deep in Bulgaria's southern Rhodope mountains, Georgi Filyanov stirs a large tank of...
- From tending to herds of goats and cows, to making white cheese, prisoners are involved throughout the entire process.
- Coveted by cheese lovers and often sold out at specialty stores outside prison, production has not been able to keep up with demand.
Business
AI robots pluck weeds in California fields, make up for shortage of laborers
Los Banos, United States -- Oblivious to the punishing midday heat, a wheeled robot powered by the sun and infused...
- As farms across the US face a shortage of laborers and weeds grow resistant to herbicides, startup Aigen says its robotic solution -- named Element -- can save farmers money.
- Element the robot resembles a large table on wheels, solar panels on top. Metal arms equipped with small blades reach down to hoe between crop plants.