OpenAI files confidentially for IPO as AI boom accelerates
The company did not disclose the size or timing of the offering, saying only that preparations remained at an early...
Business
Google inks multi-year AI infrastructure pact with SpaceX
Dubai, UAE -- SpaceX has signed a multi-year cloud services agreement with Alphabet's Google, securing a major customer for its...
Business
Business
Nvidia expands AI empire with Groq talent grab
San Francisco, United States -- Nvidia has hired the leadership of a promising AI chip startup, a statement said Wednesday,...
- Under the agreement, Groq founder Jonathan Ross and president Sunny Madra, along with other team members, will join Nvidia to help develop and scale the Groq's technology.
- Nvidia's domination of the AI training chip market has made it the world's biggest company by market valuation.
Business
Why metal prices are soaring to record highs
London, United Kingdom -- Precious and industrial metals are surging to record highs as the year ends, driven by economic...
- Gold has climbed more than 70 percent this year and passed $4,500 an ounce for the first time on Wednesday.
- A weak dollar is also boosting industrial metals, since commodities priced in dollars become cheaper for buyers when the currency falls.
Business
Kuwait signs $4.1 billion deal with China to build port
Kuwait City, Kuwait -- Kuwait has signed a deal worth $4.1 billion with China to complete the construction of a...
- Prime Minister Sheikh Ahmad Al-Abdullah Al-Ahmad Al-Sabah project would "enhance Kuwait's share in the regional and international trade and global supply chain".
- Chinese acting charge d'affaires Liu Xiang said the deal "constitutes participation in the 'belt and road' initiative".
Business
Tech stocks lead Wall Street higher, gold hits fresh record
Tech firms also led the rally in Asia, with South Korea's Samsung Electronics, Taiwan's TSMC and Japan's Renesas among the...
- Gold, which benefits from expectations of lower US interest rates, hit a fresh record of $4,442.19, while silver also struck a new peak.
- The precious metals, which are go-to assets in times of crisis, also benefited from geopolitical worries as Washington steps up its oil blockade against Venezuela.
Business
Billionaire Ellison offers personal guarantee for son’s Warner Bros bid
Washington, United States -- Oracle tech tycoon Larry Ellison is offering a $40.4 billion personal guarantee to back Paramount's hostile...
- Netflix shocked the industry December 5 by announcing it had sealed an agreement to buy the film and television studio and HBO Max streaming business for nearly $83bn.
- Three days later, Paramount launched an all-cash tender offer valuing the entertainment giant at $108.4 billion.
Business
Warner Bros rejects Paramount bid, sticks with Netflix, says terms of Netflix merger were better
Warner Bros. Discovery on Wednesday rejected a hostile takeover bid by Paramount launched last week to trump plans by streaming...
- Paramount -- whose CEO is David Ellison -- launched an all-cash tender offer valuing the entertainment giant at $108.4 billion
- Warner Bros described the Paramount offer as risky, saying it was backed up by "an unknown and opaque revocable trust"
Business
Famed Jerusalem stone still sells despite West Bank economic woes
Sair, Palestinian Territories - Despite the catastrophic state of the Palestinian economy, Faraj al-Atrash, operator of a quarry in the...
- The war in Gaza, triggered by Hamas's October 2023 attack on Israel, dealt a severe blow to a Palestinian economy that was already in poor shape
- Israel, which has occupied the West Bank since 1967, has recently set up hundreds of new checkpoints across the territory, paralysing commercial transport
Business
Netflix boss promises Warner Bros films would still be seen in cinemas
Netflix will continue to distribute Warner Bros. films in cinemas if its takeover bid for the storied studio is successful,...
- "We're going to continue to operate Warner Bros. studios independently and release the movies traditionally in cinema," chief executive Ted Sarandos said
- In early December, Netflix announced that it had reached an agreement with Warner Bros. Discovery (WBD) to acquire most of the group for $83 billion
Business
Trump demands CNN get new owners in Warner bidding war
US President Donald Trump said Wednesday that he wants to ensure CNN gets new ownership as part of the Warner...
- Warner Bros Discovery has become the center of a bidding war between Paramount — led by CEO David Ellison, son of Trump ally Larry Ellison — and streaming giant Netflix
- "I think any deal should — it should be guaranteed and certain that CNN is part of it or sold separately," Trump told business leaders Wednesday at the White House
Business
Trump says US will allow sale of Nvidia AI chips to China
Washington, United States - President Donald Trump said Monday he had reached an agreement with President Xi Jinping to allow...
- "President Xi responded positively! $25% will be paid to the United States of America," Trump wrote, without providing details on how the payment mechanism would work
- "We applaud President Trump's decision to allow America's chip industry to compete to support high paying jobs and manufacturing in America," an Nvidia spokesperson told AFP
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OpenAI files confidentially for IPO as AI boom accelerates
The company did not disclose the size or timing of the offering, saying only that preparations remained at an early...
Business
Company News
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Firms lag as AI-driven fraud surges: Study
The report, published by the Association of Certified Fraud Examiners and analytics firm SAS, highlights widening gaps between rapidly evolving...
Business
UAE real estate posts record Q1 growth on strong investor demand
In Dubai, the Dubai Land Department reported 718,160 real estate transactions, including 60,303 disposals, up 6% from a year earlier....
Business
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Business
Sharjah Islamic Bank Q1 profit rises 19.4 percent
Sharjah Islamic Bank (SIB) reported a 19.4 percent rise in first-quarter net profit, supported by higher income from Islamic financing...
- Income from Islamic financing and sukuk rose 14.4 percent, supporting operating income growth and profitability levels.
- Customer deposits increased 10.3 percent, improving financing-to-deposit ratio while maintaining stable liquidity and asset quality metrics.
Business
Masdar, TotalEnergies $2.2bn venture to push renewable energy growth in Asia
Dubai, UAE -- Masdar and TotalEnergies have signed a binding agreement to establish a $2.2 billion 50/50 joint venture aimed...
- As electricity demand accelerates across Asia, this partnership brings together capital and expertise to deliver renewable
- The JV will have a portfolio capacity of 3 GW of operational assets and 6 GW
Opinion
Geopolitics, risk aversion and crypto: Why this time may be different
Bitcoin has already endured five consecutive months of declines since reaching an all-time high of $126,500 in October 2025. February...
- The Crypto Fear and Greed Index recently fell to record lows, highlighting just how fragile investor confidence had become even before geopolitical tensions intensified.
- Progress around the proposed CLARITY Act in the United States could mark a structural milestone for the industry.