Saudi tech show LEAP 2024 to close on ‘record-breaking’ note
Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing...
Business
Business
Reliance nets $100bn annual revenue
With this turnover, it became the first Indian firm to cross the mark.
- The conglomerate reported a net profit of INR162.03 billion ($2.1 billion) between January and March
- This was 22.5 percent higher than the same period last year for the group, owned by Asia’s richest man
Business
Brazil, Guyana agree to widen energy cooperation
US giant ExxonMobil announced in April the discovery of three new oil deposits in Guyana, raising estimates of the country's...
- Guyana has emerged as one of the main low-cost oil production countries
- It is now preparing to auction offshore oil blocks at the end of the year
Business
‘Brain training’: the new frontier for eSports
The days of playing your favourite game for hours at a time to stay competitive in eSports are gone, with...
- Team Liquid is one of the biggest in the professional eSports leagues and they are keen to keep their edge, with the focus on brain training adding to the use of coaches
- "We believe The Pro Lab will make waves in the eSports industry and beyond,” Dutchman Victor Goossens, founder and co-CEO of Team Liquid, said in a statement
Business
‘Like family’: Japan’s virtual YouTubers make millions from fans
Mayu Iizuka sheds her soft-spoken personality and starts cackling, screaming and waving wildly in a makeshift studio in Tokyo as...
- The videos are designed to make fans feel they are interacting directly with their favourite animated idols
- Most fans spend only $1 per comment, but the most dedicated sometimes splurge $400 to post impassioned missives to their virtual idols
Business
UAE: Where sustainable shopping can be a way of life
If there is one country in the GCC where the idea of sustainable shopping can take off, it is the...
- what is sustainable shopping? It is a means in which you consume goods and services that considers the most efficient and beneficial options for all the species
- “Go green!” they say. “Shop green!” “Think green!” they say. The color green is associated with sustainability.
Business
Stocks slide in Asia and Europe, pound drops to two-year low
Asian and European stocks tanked Friday, accelerating a global selloff on fears over the impact of interest rate hikes that...
- The euro jumped to 85.77 pence, which was last seen late last year
- Rate tightening increases borrowing costs for consumers and businesses, harming economic recovery from the pandemic
Business
US FDA limits use of J&J Covid vaccine
The US said Thursday only adults who "have personal concerns" about mRNA vaccines, access issues or medical reasons for refusing...
- The vaccine, which was authorized as a single shot, is less protective than those developed by Pfizer and Moderna
- Thursday's decision by the Food and Drug Administration builds on that recommendation by limiting the J&J vaccine's emergency use authorization
Business
Saudi Arabia, Azerbaijan sign MoU to boost accounting services
The MoU aims to enhance cooperation between the two countries in the areas of financial auditing and performance control.
- For Saudi Arabia, the MoU was signed by Saudi General Bureau for Auditing president Hossam bin Abdul Mohsen Al-Angari
- The other signatory was Vugar Gulmammadov, chairman of the Chamber of Accounts of Azerbaijan
Business
Xbox makes Fortnite free to play on phones
The popular battle royale title from Epic Games will be the first free-to-play game available through an Xbox Cloud Gaming...
- Fortnite's return to iPhones and iPads comes after it was booted from Apple's App Store for trying to bypass its payment system
- Apple has clashed in court with Epic, which has accused the iPhone-maker of operating a monopoly of its App Store shop
Business
Petrobras profits rise despite hurdles
Brazilian President Jair Bolsonaro has criticized it for rising fuel prices.
- Petrobras on Thursday reported a first-quarter net profit of 44.6 billion reais ($8.6 billion)
- The result was 38 times more than the Q1 2021 result of 1.2 billion reais ($180 million)
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Saudi tech show LEAP 2024 to close on ‘record-breaking’ note
Riyadh, Saudi Arabia--The biggest tech show in the Middle East, LEAP 2024, hosted by Saudi Arabia in Riyadh, is preparing...
Business
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Cathay Pacific orders A320neo planes
The value of the deal is expected between $3.2 billion to $4.1 billion.
Business
Europe should move faster on energy transition, say IEA, ECB
PARIS, FRANCE - Europe must invest more quickly and massively in its energy transition if it wants to remain a global...
Business
Saudi Central Bank’s assets drop $6.39 billion in August
Riyadh, Saudi Arabia -- Assets held by the Saudi Central Bank (SAMA) declined by SAR 24 billion ($6.39 billion) month-on-month...
Business
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Business
EDGE acquires 50% stake in SIATT
SIATT is Brazilian smart weapons and high-tech systems specialist.
- The acquisition follows a cooperation agreement signed by both companies in Rio de Janeiro in April this year.
- SIATT specialises in the integration of systems with high technological content, which provides solutions to the demands of the defense and aerospace sectors.
Business
UAE’s EDGE acquires 50 percent stake in Brazil’s SIATT
Sao Paulo, Brazil - The UAE’s EDGE Group, one of the leading advanced technology and defence groups, has announced the...
- Founded in 2015, and based in the city of São José dos Campos, SIATT specializes in the integration of systems with high technological content
- SIATT’s product portfolio includes intelligent weapons such as missiles and guided munitions, and their integration onto aircraft, naval vessels, tanks and other land vehicles
Business
‘Mainstream sustainability for a net-zero future’
“As the UAE gears up to host COP28, it's crucial to involve all partners in hastening climate action, both locally...
- UAE Minister of Climate Change and Environment, Mariam bint Mohammed Almheiri, emphasizes the importance of integrating sustainability into business operations
- At the 12th NDCA, Minister Almheiri urges businesses to mainstream sustainability and highlights the pivotal role of carbon registries in achieving Net Zero by 2050