AD Ports records $564 million 2025 net profit
The company said revenue grew 20 percent year-on-year to $5.65 billion, while net profit increased 16 percent, supported by strong...
IHC shareholders approve share buyback of up to $1.36 billion
The proposed buyback represents about 0.6% of the company’s total shares. The board of directors has been authorized to take...
Business
Honda and Nissan expected to begin merger talks
Honda and Nissan were poised Monday to announce the start of talks on a merger to help the Japanese giants...
- Their collaboration would create the world's third-largest automaker
- Honda and Nissan's partnership could include a manufacturing tie-up
Hackers stole US$2.2bn in crypto through 2024, Chainalysis Research
Crypto hackers stole US$2.2bn worth of crypto. This amount was a 21 percent yoy increase, the fourth consecutive year they...
- This stolen amount represents a 21 percent year-on-year increase
- Private key compromises accounted for the largest share of stolen crypto in 2024, at 44 percent
Cybersecurity in 2024: From talent shortages to resilience against emerging tech risks
In 2024, cybersecurity remained central, addressing skill gaps and the impact of generative AI. A Strategic Cybersecurity Talent Framework offered...
- Cybersecurity in 2024 focused on talent gaps, emerging tech, and resilience
- Public-private efforts tackled cybercrime and evolving digital threats
Business
Fifth France-Arab Summit: Forging partnerships for a sustainable tomorrow
As the world grapples with uncertainty, the summit offers a much-needed space for cooperation and innovation, led by the Franco-Arab...
- The event, under the high patronage of French President Emmanuel Macron, brings together governments, businesses, and visionaries
- By working together, France and the Arab world have the opportunity to shape the future
Business
AI as the next frontier: Opportunities for channel partners to lead the way
AI offers an infinite number of selling and upselling opportunities. Resellers with the right strategic long-term approach will clearly develop....
- A strategic approach to AI integration is key for channel partners looking to capitalize on the transformative potential of this technology within their service portfolios
- Delivering end-to-end AI solutions in another edge - spanning consulting, implementation, and ongoing support - emphasizes the partners' comprehensive service capabilities
Business
Saudi Arabia partners with World Bank to launch global knowledge hub in Riyadh
According to World Bank Group President Ajay Banga, “The new Knowledge Hub being created by the World Bank Group and...
- The initiative positions Saudi Arabia as a central player in facilitating the global exchange of transformative ideas
- The agreement was formalized with the signing by World Bank Group President and Saudi Arabia’s Minister of Commerce
Software solutions that minimize cost overruns, delays in construction
Project management software solutions have emerged as essential tools to streamline construction operations, enhance efficiency, and improve project delivery. They...
- The construction project management software solutions market reched US$17 billion in 2024
- Leveraging digital tools can lead to 10-20 percent savings on overall project costs
Step into the future of sustainable smart city development
Pavegen, a global kinetic energy company, unveiled its innovative “Solar+” tile in Dubai. This tile harnesses the power of movement,...
- Pavegen tiles have harnessed the power of over 1 billion footsteps in smart cities
- The company aims to bring the price down to sub US$1,000 per sqm in the future
Economy
UAE firms accelerate AI transformation, new report finds
The real power of AI lies in its careful deployment across diverse business functions, and the UAE is primed for...
- The AI Maturity Index shows that more than 80 percent of enterprises have a shared vision for AI within their organizations
- Only 15 percent have reached a 'transformative' level of AI maturity
Geostrategy
Samsung reshuffles leadership amid challenge in AI chips
Seoul, South Korea - Samsung Electronics reshuffled its leadership on Wednesday as it looks to gain an edge in the production...
- On Wednesday it tapped vice-chairman Jun Young-hyun to lead its memory business and appointed Han Jin-man as the new boss of the chip foundry division
- The reshuffle aims to "strengthen the company's growth and future competitiveness, focusing on the semiconductor business", Samsung said in a statement
AD Ports records $564 million 2025 net profit
The company said revenue grew 20 percent year-on-year to $5.65 billion, while net profit increased 16 percent, supported by strong...
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TAQA net income $1.93bn in 2024
Business
Cyprus and Egypt sign deal to process, export gas to Europe
Nicosia, Cyprus -- Cyprus and Egypt on Monday signed an agreement with an energy consortium to export gas from the Mediterranean...
Business
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...
Saudi Arabia’s inflation rate 2 percent in Jan, rental prices main driver
Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the...
Economy
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Business
AD Ports Group 2024 net profit $484m
The Group's revenue increased 48 percent year-on-year.
- Net profit attributable to owners grew 24 percent YoY to AED1.33 billion led by strong operating performance.
- Total assets grew by 15 percent YoY to AED63.70 billion in 2024 while total equity increased 15 percent YoY to AED27.83 billion.
Nissan, Honda shares surge after merger talks scrapped
Nissan and Honda shares surged in Tokyo Friday after the auto giants confirmed they scrapped merger talks and Nissan detailed...
- Nissan shares soared 8.17 percent to 449 yen in early trade before easing to 439.5 yen
- Honda shares rose 4.46 percent to 1,498 yen, before easing to 1.487 yen
Business
Stocks mostly rise, oil falls as Trump fans Ukraine peace hopes
London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the...
- London was a rare faller owing to sharp losses to share prices of big companies, including Unilever, Barclays and British American Tobacco.
- With Russia being a major producer of oil, crude futures fell heavily on easing supply concerns, while the dollar lost some of its safe-haven support.