Tariffs could lift Boeing and Airbus plane prices even higher
New York, United States -- Commercial plane prices, already lifted in recent years due to pandemic supply chain shocks, are...
Business
Future-proofing hospitality asset value needs financial rigor with emotional intelligence
The GCC’s luxury hospitality sector has become a global benchmark, yet behind every polished facade lies an increasingly complex financial...
Opinion
Business
Geopolitical tensions buffet markets, gold and oil prices climb
Gold and oil prices climbed on fears of escalating tensions in the Middle East after Israel launched its most intense...
- Wall Street opened lower but European stocks rose in afternoon trading as investors prepared for German lawmakers to vote on a massive spending boost for defense and infrastructure
- Investors are eyeing this week's policy decisions from the US Federal Reserve, Bank of Japan and Bank of England, with all three forecast to stand pat on interest rates.
Business
Google says to buy Wiz for $32 bn
The all-cash deal brings Wiz into the Google Cloud operation.
- The deepening influence of AI makes "cybersecurity increasingly important in defending against emergent risks and protecting national security," the companies said.
- The transaction, the largest ever sought by Google or parent Alphabet, will test Trump's openness to large takeovers after resistance to such deals by Biden's administration.
Business
Nvidia showcases AI chips as it shrugs off DeepSeek
San Francisco, United States - Nvidia chief Jensen Huang is expected to showcase cutting-edge chips for artificial intelligence (AI) and...
- Industry watchers expect Huang to spotlight Nvidia's latest Blackwell line of graphics processing units (GPUs), including new updates in the works
- The AI boom propelled Nvidia stock prices to stratospheric levels until a steep sell-off early this year triggered by the sudden success of DeepSeek
Business
Borouge proposes share buyback
The company had posted a 24% YoY increase in net profit to $1.24bn.
- Boruge said the proposed share buyback underscores the company’s confidence in its long-term growth prospects.
- Shareholders will also vote to approve the final 2024 dividends of 7.94 fils per share, which will be distributed on 28t Apr, bringing its total 2024 dividend payout to $1.3bn.
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...
- Baidu also made the models free to use, more than two weeks ahead of schedule. Previously, users had to pay a monthly subscription to access the company's latest AI models.
- Technology companies in China have been scrambling to release improved AI platforms since start-up DeepSeek shocked its rivals with its open source and highly cost-efficient model
Interview
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...
- in the MEA region, key hubs such as Doha, Dubai, Jeddah, Casablanca, Salalah, Nairobi, Durban, and Tema serve as vital nodes for regional distribution.
- Additionally, hubs like Istanbul, Dubai, and Addis Ababa improve connectivity within this region, said Diallo.
Economy
Gold tops $3,000 for first time on Trump tariff threats
Gold surpassed $3,000 for the first time Friday as US President Donald Trump's trade wars boost the safe-haven asset, while...
- Gold, a safe haven in times of uncertainty, rose as much as $3,004 an ounce before paring back gains later in the day to trade under $3,000
- Trump said he would not row back on the metals duties, nor plans for sweeping tariffs on countries worldwide due to kick on April 2
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.
Tariffs could lift Boeing and Airbus plane prices even higher
New York, United States -- Commercial plane prices, already lifted in recent years due to pandemic supply chain shocks, are...
Business
Company News
Latest News
47 global firms interested in developing 7th phase of Al Maktoum solar park
Dubai, UAE -- A total of 47 international companies have shown interest in developing the seventh phase of the Mohammed bin...
Business
After Instagram restrictions, Meta to introduce teen accounts for Facebook
Paris, France -- Meta on Tuesday announced that it was extending its teen accounts to its social network Facebook, after...
Geostrategy
$20 million rare blue diamond goes on show in Abu Dhabi
Abu Dhabi, United Arab Emirates -- A rare blue diamond valued at $20 million went on pre-auction display on Tuesday...
Business
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Business
Stocks sink again as Trump holds firm on tariffs
Trading floors across the globe were overcome by waves of further selling after last week's sharp losses, with Trump telling...
- Wall Street was wracked by volatile trading, bouncing into positive territory on hopes of a 90-day pause in tariffs, only to sink lower when those were dashed by the White House.
- Trillions of dollars have been wiped off combined stock market valuations in recent sessions. Bitcoin tumbled, while the dollar rebounded after sharp losses last week.
Business
UAE tourism generates $12.24bn in hotel revenues in 2024: Minister
Abu Dhabi, UAE -- Hotel revenues in the UAE reached approximately AED 45 billion ( $12.24 billion) in 2024, reflecting...
- Hotel occupancy rates also climbed to 78 percent last year, ranking among the highest both regionally and globally.
- The minister said that the number of hotel guests across the UAE reached approximately 30.8 million in 2024, reflecting a 9.5 percent growth.
Business
Abu Dhabi’s non-oil foreign trade grows by 9% in 2024 to $83bn
Abu Dhabi, UAE -- Abu Dhabi Customs reported a 9 percent increase in the emirate’s non-oil foreign trade in 2024,...
- Non-oil exports soared 16 percent in 2024, reaching AED 107.8 billion compared to AED 93 billion in 2023.
- Re-exports grew by 11 percent to exceed AED 58 billion, compared to AED 52.4 billion in 2023, while imports grew by 3 percent to AED 140.2 billion.