FAB delivers strong results in 2024 with profit before tax of AED 19.9 billion, up 13% yoy
First Abu Dhabi Bank (FAB) has achieved solid results in 2024 with Group net profit reaching AED 17.1 billion, up...
Xi, Biden in Peru for APEC summit, pre-Trump face-to-face
uncertainty over Trump's next moves now clouds the APEC agenda -- as it does for the COP29 climate talks underway...
- President Vladimir Putin of APEC member Russia will not be present
- Trump has threatened tariffs of up to 60 percent on imports of Chinese goods
Business
TikTok makes AI driven ad tool available globally
San Francisco, United States - TikTok on Thursday began letting all marketers on its platform use an artificial intelligence-powered tool for...
- The news came with word that Getty Images will make its stockpile of pictures and video available to TikTok's AI‑powered video generation tool called Symphony Creative Studio
- Brands will be able to use Getty's licensed images and videos to create AI-generated ads, including marketing messages featuring characters resembling real people
Business
Data Integrity: The foundation of true data freedom
Ensuring data integrity has become more challenging, leaving organizations at risk of data loss and corruption. during migration
- Organizations must liken preparing for migration to how pilots train to resolve the unexpected
- Data freedom is about ensuring data remains accurate, secure, and usable during migrations
Economy
US Fed expected to look beyond Trump win and cut rates again
The labor market has remained resilient, despite a sharp hiring slowdown last month due to adverse weather conditions and a...
- Fed policymakers are expected to focus instead on the health of the US economy
- Their favored inflation gauge eased to 2.1 percent in the 12 months to September
Business
AI-Driven technologies drive operational excellence, helping meet sustainability goals
Industrial AI and digital technologies are revolutionizing energy infrastructure, helping companies across asset-intensive sectors achieve operational excellence
- The rising costs of conventional energy provide a strong argument for investing in energy efficiency
- Carbon capture is a definitive decarbonization solution, although requiring substantial capital and energy to operate
Business
Altegio in UAE market to local boost digital transformation
Unlike other automation platforms that redirect customers to third-party websites, Altegio keeps booking processes within the client’s own ecosystem.
- Altegio’s platform offers over 30 specialized tools that streamline operations across marketing, sales, finance, and team management
- Founded in 2022 by a group of international entrepreneurs, Altegio has rapidly grown to serve over 10,000 businesses across 89 countries
Business
Global VC investment falls to lowest level in nearly seven years
 Global VC investment fell from a five-quarter high of US$95.5 billion in Q2'24 to a nearly seven-year low of US$70.1...
- Global VC investment drops from US$95.5 billion to US$70.1 billion quarter-over-quarter
- AI accounts for six of ten largest VC deals globally in Q3'24
Business
Troubled Boeing faces investors and awaits strike vote
Boeing, the beleaguered aviation giant announces what is expected to be its biggest quarterly loss in four years, and striking...
- Analysts estimate a loss of US$6.1 billion, its biggest since the fourth quarter of 2020
- On October 15, Boeing announced it plans to raise up to US$25 billion to navigate the period
Science
Microsoft unveils autonomous AI agents for business tasks
San Francisco, United States - Microsoft on Monday said it was enhancing its AI offerings with new autonomous agent capabilities as...
- AI agents are specialized programs designed to perform routine tasks autonomously, such as sifting through sales leads or handling customer service inquiries
- The AI agent has become the newest buzzword for major software companies that are investing billions in powerful AI models, which they believe will shape the future of computing
Business
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...
- The streaming juggernaut said it ended September with 282.7 million subscribers, reporting a profit of $2.4 billion
- Netflix shares rose nearly five percent to $720.75 in after-market trades, trading at slightly more than double the price from a year earlier
Company News
DAE net profit up 36.2%
Business
Borouge 2024 net profit $1.24bn
Business
Latest News
Risks are interconnected, need collaborative solutions, says WEF’s Mark Elsner
World Economic Forum
Norway nears 100% goal of all-electric cars
Geostrategy
Dubai airport clocks record 92.3 million passengers
A record 92.3 million passengers travelled through Dubai's international airport last year, its operator said on Thursday, extending a post-pandemic...
Borouge 2024 net profit $1.24bn
The company said it will maintain a $1.3bn dividend for 2025.
Business
Most Read
Geostrategy
Norway nears 100% goal of all-electric cars
By comparison, the share of electric cars in Europe was just 13.6 percent in the full-year 2024, a decline for...
- A total of 9,343 new cars were sold in January, of which 8,954 were all-electric, the Norwegian Road Federation (OFV) said.
- Of the 50 most-sold models, only two were non-electric, the first of which came in 33rd place, the OFV said.
Business
OPEC+ sticks to oil output plan after Trump’s price demand
In a bid to boost prices, the Organization of the Petroleum Exporting Countries (OPEC) headed by Saudi Arabia and Russian-led allies...
- In December, eight OPEC+ countries announced they would start phasing out 2.2 million bpd of voluntary supply cuts from April.
- The decision to stick to the alliance's timetable to unwind cuts comes after Trump said last month that he would ask Saudi Arabia and OPEC to lower oil prices.
Morgan Stanley sees upswing in MENA M&A deal volumes and values
After a challenging year where M&A activity in the Middle East and North Africa took a tumble, Morgan Stanley forecasts...
- 2024 saw 1,111 M&A transactions with exposure to the MENA region, totaling US$75 billion in value
- MENA outbound M&A transactions totaled US$40.2 billion, down 3 percent