Apple unveils new iPhone built for AI, looks to boost sales
Cupertino, United States - Apple on Monday unveiled new iPhones built for generative artificial intelligence as it seeks to boost sales...
Business
Nvidia’s forecast dampens AI enthusiasm in other tech stocks
Shares of Nvidia and other technology heavyweights fell late on Wednesday, a discouraging sign for investors betting that a strong...
Business
SAIB shares vault more than 2%
The stock rose after it declared cash dividends of $80 million.
- The bank’s stock touched SR20.88 on Sunday, up from an opening price of SR20.5
- Last year, SAIB paid an annual dividend of SR0.7 per share – the highest in years after freezing dividends for two straight years
Geostrategy
Crises make GCC, Western countries more pragmatic
An increasing number of strategic agreements are being signed with the regional players as Europe, US seek to diversify sources...
- An increasing number of strategic agreements are being signed with the regional players as Europe, US seek to diversify sources of energy supply, says an expert at IRIS
- Relations between the US and Arab countries are dominated by pragmatism as the former wants to carry out an active diplomacy to avoid being outstripped by the rivals
Business
Russia assures Egypt of providing grains as per order
Russia's top diplomat reassured Egyptian leaders Sunday that their orders for Russian grain would be met as he began a...
- Foreign Minister Lavrov said that Russian exporters of cereals will fulfil their orders and provide grains to Egypt and other countries
- Lavrov's visit comes hot on the heels of a landmark deal Russia and Ukraine signed on Friday with the United Nations and Turkey
Economy
Dubai most expensive city in Arab world
Mercer’s 2022 Cost of Living City Ranking ranks the emirate the 31st most expensive city in the world.
- Mercer survey is aimed at providing employers data to help them navigate compensation strategies for their mobile employees in the world.
- Urkaine conflict, rising inflation and volatility of markets has affected the cost of living for most of the people in the world.
Business
Center to combat financial fraud inaugurated in Saudi Arabia
A Joint Operations Center for Saudi Banks tasked with following up and monitoring cases of financial fraud that bank customers...
- The center brings together all Saudi banks under one roof to improve the customer experience and tackle confirmed cases of financial fraud.
- The Center’s establishment came from from the Saudi Central Bank’s support for the stability of the banking sector, said SAMA governor.
Business
Ataa acquires Saudi firm Naba’a
The acquisition made through Ataa subsidiary.
- The financial impact will be visible on the financial results for the year ending on July 31, 2022.
- In January 2021, Ataa inked a partnership agreement to acquire 52Â percent of Riyadh-based Al Wasat National Schools for Training and Education Company.
Business
Iraq and Kurdistan decide to talk to resolve oil dispute
The federal government in Baghdad and the autonomous Kurdish region pledged Saturday to "increase dialogue" to ease a simmering oil...
- The announcement came during a rare visit to the Iraqi capital by the Kurdish region's prime minister. Masrour Barzani, who had not visited Baghdad since 2019
- The long-simmering dispute came to a head in February when the federal supreme court ordered Kurdistan to hand over oil extracted from its territories
Business
UAE applauds grain export deal between Russia and Ukraine
The UAE has welcomed the agreement reached between Russia and Ukraine on the export of grain, and has applauded the...
- The Ministry of Foreign Affairs and International Cooperation reaffirmed that the agreement is a positive step that will contribute to enhancing global food security
- The UAE President Sheikh Mohamed bin Zayed Al Nahyan today made a phone call to the President of the Republic of Turkey, Recep Tayyip Erdogan
Business
EITC posts 26% jump in profit
The net profit rose to $82.5 million for the second quarter.
- The company's mobile customer base grew 13.0% to 7.4 million subscribers
- It ended the quarter with 6.1 million prepaid customers
Business
Al Dhaid Date Festival supports farmers to improve output
The four-day event is organized by the Sharjah Chamber of Commerce and Industry (SCCI).
- The positive changes in the 2022 edition resulted in increased competitiveness among palm owners and farmers.
- It has attracted hundreds of participants, in addition to impressive turnout of visitors from all over the country.
Apple unveils new iPhone built for AI, looks to boost sales
Cupertino, United States - Apple on Monday unveiled new iPhones built for generative artificial intelligence as it seeks to boost sales...
Business
Company News
SAMI launches radio systems line
Business
Boon or blight? E-scooters around the world
Geostrategy
Latest News
Lufthansa Q3 profit $1.3bn
38 million passengers travelled with the group's airlines in the third quarter.
Business
Alpha Dhabi 9M net profit $3.15bn
The net profit increased by a substantial 29 percent during this period.
Business
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Business
Al Ansari Financial Services okays dividend
The first proposed interim dividend is of $81 million.
- All matters relating to future dividend distribution will be subject to the Board of Director's recommendation and shareholder's approval.
- The approved US$81 million cash distribution aligns with the group's previously announced dividend policy.
Business
stc, Microsoft to collaborate
The aim is to advance digitalization in Saudi Arabia.
- The two firms will jointly develop and deploy cutting-edge solutions that will transform and empower organizations across various industries.
- The collaboration between the organizations aims to enable stc’s subsidiaries to explore new markets, develop disruptive business models.
Shell reports rise in profits
The company announces a buyback of shares worth $3.5bn.
- "Shell delivered another quarter of strong operational and financial performance," chief executive Wael Sawan said
- Over the first nine months of 2023 Shell's profit was down sharply, reflecting lower oil prices year-on-year