Microsoft beefs-up its AI assistant with voice, vision
San Francisco, United States - Microsoft on Tuesday doubled down on deploying artificial intelligence to consumers, releasing an updated version of...
Business
Boeing lifts wage hike to 30%
The 30% general wage hike improves upon the 25% in the earlier offer.
Business
Standard Chartered posts record profit in H1 of 2022
The bank's profit rises 28% to US$581 million in the first half.
- The bank witnessed double-digit income growth and high Operating Profit growth in major markets like the UAE, Pakistan, and Ghana
- The bank’s operating profits has also increased to with US$581 million, a 28% increase in operating profit compared to last year
Business
GCC equities post modest gains this week
Equities in the GCC posted modest gains this week while concerns persist about surging global inflation and how central banks...
- First Abu Dhabi Bank's and the real estate sectors' declines contributed to the overall index's fall at the start and end of the week on the Abu Dhabi Securities Exchange
- On the other hand, the banking sector helped the general index of the Dubai Stock Exchange recover from a 0.7 percent loss on Monday to end the week up 1.1 percent
Business
AI, cloud tech revolutionizing Middle East retail sector
Real-time shopping platforms accessible via multiple channels and featuring high-definition live streaming as well as personalized services are boosting client...
- Real-time shopping platforms accessible via multiple channels and featuring high-definition live streaming as well as personalized services are boosting client engagements
- In the next three years, AI adoption in retail and consumer products will increase from 40 percent to more than 80 percent, according to the IBM Global Technology
Business
Yemen’s ancient honey production a victim of war, climate change
Experts consider Yemeni honey some of the best in the world, including the prized Royal Sidr known for its therapeutic...
- Experts consider Yemeni honey some of the best in the world, including the prized Royal Sidr known for its therapeutic properties
- The United Nations says honey plays a "vital role" in Yemen's economy, with 100,000 households dependent on it for their livelihoods
Business
QEWC finalizes buying 40 percent shares of Nebras
Qatar Electricity and Water Company (QEWC) said Raslaffan Operating Company WLL, a wholly-owned subsidiary of QEWC completed the purchase of...
- QEWC said that the completion of the purchase process came as a continuation of the statement issued by the company on January 4
- On January 4, QEWC said Raslaffan Operating Company WLL has completed purchase of 40 percent of the share capital of Nebras Power
Business
Misses and uncertainty: US tech giants stumble after pandemic boom
As people are freed from pandemic lifestyles that had them relying on the internet for shopping, playing, working and learning,...
- A crowded period of quarterly financial releases from the world's biggest tech firms has been marred by misses and uncertainty.
- Recession fears, strong dollar, shrinking advertising budgets and inflation, headwinds coming from every direction at the moment.
Business
Eni reports Q2 net profit of US$3.9bn
Italian energy giant Eni said Friday that its profits sky-rocketed in the second quarter as energy prices soared in the...
- Eni said in a statement that bottom-line Q2 net profit increased 15-fold to $3.9 billion
- For the whole of 2022, Eni confirmed it was aiming for operating profit of 'at least' $1.22 billion
Economy
Dubai’s real estate market sales transactions reach US$6.2bn
Dubai’s real estate market recorded 8,897 sales transactions worth US$6.2 billion approx (AED22.75 billion), the highest volume of sales transactions...
- Dubai’s real estate market recorded 8,897 sales transactions worth US$6.2 billion
- The transactions were the highest volume of sales transactions for June in the past nine years
Business
ADNOC announces second discovery of natural gas resources
Abu Dhabi National Oil Company (ADNOC) today announced a second discovery of natural gas resources in the first exploration well...
- The reservoir was struck in in the first exploration well in Abu Dhabi's Offshore Block 2 Exploration Concession, operated by Eni.
- The discovery from a new deeper reservoir indicates between 1 – 1.5 trillion standard cubic feet (TSCF) of raw gas in place.
Business
ExxonMobil Q2 profits rises to US$17.9bn
ExxonMobil's second quarter profits nearly quadrupled to $17.9 billion in results released Friday that underscored the elevated state of oil...
- ExxonMobil's Q2 profits nearly quadrupled to $17.9 billion that underscored the oil and natural gas prices
- The US oil giant's revenues in the second quarter rose 68.7 percent to $111.3 billion
Microsoft beefs-up its AI assistant with voice, vision
San Francisco, United States - Microsoft on Tuesday doubled down on deploying artificial intelligence to consumers, releasing an updated version of...
Business
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Qatar’s business conditions continue to improve in October
DOHA, QATAR – Qatar's non-energy private sector continued to experience improving business conditions at the start of the final quarter of...
Business
FGCC Chambers to hold GCC-Egyptian Business Forum in Saudi Arabia
AL-KHOBAR, SAUDI ARABIA - The Federation of Egyptian Chambers of Commerce (FEDCOC) is scheduled to host the first Gulf-Egyptian Business...
Business
Saudi Arabia to continue voluntary oil cut until end of Dec 2023
Riyadh, Saudi Arabia -- Saudi Arabia has announced it will continue the voluntary cut of one million barrels per day,...
Business
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Business
UAE ministry issues guidebooks on Emiratization for employers, employees
DUBAI, UAE - The Ministry of Human Resources and Emiratization (MoHRE) has launched awareness guidebooks for private sector companies and...
- The awareness guidebook for Emiratis working in the private sector covers 11 topics
- The awareness guidebook for the private sector companies covers nine topics.
Business
Musk teases AI chatbot ‘Grok,’ with real-time access to X
The social network that Musk bought a year ago launched the Premium+ plan last week for $16 per month, with...
- Musk, the tycoon behind Tesla and SpaceX, said the link-up with X, formerly known as Twitter, is "a massive advantage over other models" of generative AI
- "Grok" comes from "Stranger in a Strange Land," a 1961 science fiction novel by Robert Heinlein, and means to understand something thoroughly and intuitively
Business
Global assets in spot bitcoin ETFs hit US$4.16 billion
Dubai, UAE--Global assets invested in exchange-traded funds (ETFs) tied to the spot price of bitcoin now total US$4.16 billion, showed...
- Around half of that sum, or $2 billion, is invested in the seven spot bitcoin ETFs that have been launched in Canada since 2021
- Regulators in the United States are currently considering as many as 10 applications to launch similar spot-based ETFs in the U.S