Netflix adds millions of subscribers but growth slows
San Francisco, United States - Netflix on Thursday said it added more than five million subscribers in the recently ended quarter...
Business
MGX participation confirmed in OpenAI’s US$6.6bn in new funding, valuing it at US$157bn
OpenAI has finalized a deal to receive US$6.6 billion in new funding from investors who valued the company at US$157...
Business
Business
Amanat Holdings profit up 7%
The company posted H1 income of $26.33m.
- This income is on an adjusted basis, excluding the prior year's gain on sale and trading results from divested entities.
- In H1 2022, Amanat's healthcare platform continued to record strong year-on-year growth.
Business
Ethiopian delegation visits Dubai to explore digital services
An Ethiopian delegation of 10 members, comprising decision-makers from the public and private sector, visited Dubai Chambers between July 25-...
- The delegates sought to review Dubai’s success in digital services, and discuss creating potential business partnerships
- The visit included signing deals supporting the Digital Ethiopia 2025 strategy, and exchanging knowledge and expertise.
Business
DAE posts H1 profit of $140.1m
Its profit increased 186 percent in first six months of 2022
- Dubai Aerospace Enterprise reports 186% growth in profit in the first six months of 2022
- DAE says cash flows from operating activities increased by 36 percent to $678.5 million.
Economy
UAE citizens’ housing gets help of over $6.8bn in 2022
The UAE’s citizens' housing segment in 2022 achieved significant regulatory progress and received massive financial allocation for federal, local plans...
- The UAE’s citizens' housing segment in 2022 achieved significant progress and got massive financial aid for federal and local plans
- On May 9, the Cabinet adopted a federal housing loan policy to provide loans via partnerships with private sector and national banks.
Business
Aramco, SABIC receive world’s first blue hydrogen, ammonia certification
Saudi oil giant Aramco and SABIC Agro-Nutrients Company have obtained the world's first independent certifications recognizing the production of blue...
- TUV Rheinland, a system testing, inspection and certification services provider based in Germany, awarded these certifications to SABIC Agri-Nutrients Company in Jubail.
- SASREF, a wholly owned subsidiary of Saudi Aramco, produced 8,075 tons of blue hydrogen.
Business
Firm seeks professional to taste test 3,500 candies
The new hire will get an annual salary of $78,000. Since the Chief Candy Officer is required to taste thousands...
- Candy Funhouse, a Canadian online candy shop, said it has received more than 100,000 candidates in two weeks.
- On social media, the posting is a big hit with adults and children alike. One Twitter user said that his eight-year-old daughter had made a LinkedIn profile just to apply.
Business
Dubai records realty deals worth $241 million on Wednesday
Dubai recorded realty transactions worth AED888 million ($241 million) on Wednesday. The real estate market in the emirate recorded 310...
- The real estate market in the emirate recorded 310 sales transactions worth AED668.1 million, in addition to 86 mortgage deals of AED163.78 million.
- A day earlier, Dubai real estate market recorded AED1.2 billion in realty transactions.
Business
Lufthansa posts $263m profit
In 2020 a government bailout saved airline from bankruptcy.
- CEO Carsten Spohr said that airline was back in the black, terming the pandemic as most serious crisis to hit the company
- Lufthansa will start hiring some 5,000 employees to cope with growing chaos at airports
Business
SNHC posts 122% jump in profit
Sharjah Hotels occupancy rate jumped to 67 percent in H1.
- The improved performance brought the hotel group closer to pre-pandemic levels in the second half of 2022, showing a steady return in customer confidence
- The hotel group is looking for opportunities to expand its portfolio of managed hotels and catering contracts
Business
Aramco, Sinopec to partner on projects in Saudi Arabia, China
This latest collaboration builds on existing joint ventures between the two companies.
- This latest collaboration builds on existing joint ventures between the two companies
- The companies will discuss the establishment of a manufacturing hub in King Salman Energy Park
Netflix adds millions of subscribers but growth slows
San Francisco, United States - Netflix on Thursday said it added more than five million subscribers in the recently ended quarter...
Business
Company News
SABIC-Sinopec China plant opens
Business
Latest News
AD Ports Group acquires 10 offshore vessels for $200 million
Abu Dhabi, UAE -- AD Ports Group (ADPORTS) has purchased 10 offshore vessels for $200 million that will bolster offshore...
Business
Fertiglobe Q3 revenue of $525m
The firm recently launched steps to optimize its cost structure.
Business
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Business
Saudi Real Estate Market records transactions worth $14.92bn
Riyadh, Saudi Arabia -- More than 70,000 transactions worth SAR 56 billion ($14.92 billion) have been conducted on Saudi Arabia's...
- The traded real estate areas amounted to about 550 million square meters (sqm), Argaam reported. Real Estate Market provides its services around the clock.
- Launched two months ago, It allows easy buying and selling of properties, in addition to helping beneficiaries to leverage mortgage services electronically.
Business
Batelco launches mobile peering service in MENA region
Manama, Bahrain - Batelco, part of the Beyon Group, announces its latest service “Mobile Peering” for members of the platform....
- The many benefits of this service include enhanced network efficiency and reduced latency by establishing direct connections between mobile providers
- Exchanging mobile traffic directly with other mobile networks results in a better roaming experience for the mobile operators’ end users
OpenAI sees a future of AI ‘superpowers on demand’
Dreams of the benefits of generative AI -- along with fears of the technology's risks -- have been hot topics...
- OpenAI is rolling out the ability to create custom "agents," called "GPTs," capable of handling specific tasks such as business negotiation advice
- Later this month, OpenAI will launch a GPT "store," and plans to add a way for developers to make money based on how many people use their GPTs