Luxury stocks: when good results are not enough
Luxury sales are rising, but investors remain increasingly selective as markets reward durable, high-quality growth over headline gains, says etoro...
Analysis
Alphabet and Tesla in focus as markets demand more from Big Tech
"Three months ago investors were comfortable funding aggressive AI investment," Gilbert added. "Today they're asking tougher questions. Markets now want...
Analysis
Science
Gemini’s inaccurate AI racial images warn of tech titans’ power
AUSTIN, US – For people at the trend-setting tech festival here, the scandal that erupted after Google's Gemini chatbot cranked out...
- Gaffes such as the images of ethnically diverse Nazi troops forced Google to temporarily stop users from creating pictures of people.
- Social media users mocked and criticized Google for historically inaccurate images, like those showing a female black US senator from the 1800s.
Business
Nakheel, Meydan join Dubai Holding
The Board of Directors of both Nakheel and Meydan will be abolished.
- Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum directed the two to merge under Dubai Holding under the leadership of Sheikh Ahmed bin Saeed Al Maktoum
- He said the goal is to create a more financially efficient entity, owning assets worth hundreds of billions, and comprising global expertise across various sectors
Business
Saudi Arabia takes part in global mineral and mining meet in Canada
RIYADH, SAUDI ARABIA – A delegation comprising several entities from the Kingdom’s industry and mineral resources' system participated in PDAC...
- The Saudi delegation held meetings with teams from Canada, the Czech Republic and Ecuador.
- These are part of the 85 meetings they will hold with officials of countries and global firms participating in the event.
ExxonMobil makes new oil discovery
The oil and gas strike is the first of 2024.
- The oil and gas strike, the first of 2024, was in the Stabroek block, the company said Friday
- Drillers "encountered approximately 197 feet (60 meters) of hydrocarbon-bearing sandstone," Exxon said
Business
Gulf aviation industry sets sky-high standards
"The demand from certain sectors indicates a strong interest in First Class, prompting us to introduce a newly-designed First Class...
- Qatar Airways CEO, Engr. Badr Mohammed Al Meer, emphasizes innovation in elevating customer experience amidst growing competition.
- Digital innovation drives organizational efficiencies, supporting the expansion of Qatar Airways into growth markets like China and India.
Business
UAE’s working mothers get extended maternity leave
The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120...
- The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, says Kathryn Martin of VFS Global.
- This initiative, led by companies like VFS Global, not only enhances employee well-being but also promotes gender equality and diversity in the workplace, she adds.
Business
Air Arabia shareholders approve 20% dividend for FY2023
SHARJAH, UAE – Air Arabia shareholders approved the distribution of a 20 percent cash dividend for the financial year ended...
- The dividend, which is equivalent to 20 fils per share, underscores another year of record financial performance.
- In 2023, Air Arabia added 26 new routes to its global network from its operating seven hubs.
Business
Du, Samsung ink agreement
The two companies have signed a three-year partnership.
- This collaboration allows for expansion in the business-to-consumer (B2C) and business-to-business (B2B) segments.
- The companies will also collaborate on reaching the younger generation, with joint participation in events like the Dubai Esports Festival.
Economy
Non-oil sectors contribute 50% to Saudi Arabia’s real GDP in 2023
RIYADH, SAUDI ARABIA – Non-oil activities in the Kingdom have achieved a historic milestone, reaching a 50 percent share of...
- This translates to a non-oil economy valued at US$$453 billion (SAR1.7 trillion) at constant prices.
- Non-oil economy is valued at $$453 billion at constant prices, fueled by growth in investment, consumer spending and exports.
Business
Vodafone sells Italian unit to Swisscom
British telecoms giant sold the business for US$8.7 billion.
- Vodafone has been on a cost-cutting campaign that has included layoffs and the offloading of divisions abroad
- Its CEO said the deal with Swisscom marked the "third and final step in the reshaping of our European operations"
Luxury stocks: when good results are not enough
Luxury sales are rising, but investors remain increasingly selective as markets reward durable, high-quality growth over headline gains, says etoro...
Analysis
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SEC H1 net profit $1.67bn
Business
Billionaire Ronaldo tops Forbes footballer rich list again
Paris, France -- Portugal great Cristiano Ronaldo once again topped the Forbes highest-paid footballers list for the 2025-26 season, as...
Business
Spotify, Netflix sign deal to stream video podcasts
Stockholm, Sweden -- Music and video streaming giants Spotify and Netflix have penned a deal to bring several video podcasts...
Business
AI, robotics, energy systems, sensor networks: Four technologies driving the future of work
The report, Jobs of Tomorrow: Technology and the Future of the World's Largest Workforces, developed by the WEF's Global Future Council on...
Business
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Business
OpenAI announces Broadcom deal as spending spree continues
OpenAI, the company behind ChatGPT, announced Monday it is teaming up with chip giant Broadcom to design and build its...
- The partnership is the latest in a series of recent announcements by OpenAI as it seeks to strengthen its position as the preeminent company of the generative AI revolution
- The partnership, which the companies said would launch next year, would provide 10 gigawatts in computing power, requiring roughly the energy needed to power a major city
Business
UAE solidifies AI ambition at Expand North Star by GITEX GLOBAL
Dubai, UAE – Expand North Star by GITEX GLOBAL is underway in the UAE as the world’s largest startup and...
- The 2025 edition connects over 2,000 of the world’s most disruptive startups with 1,200 international investors managing US$1.1 trillion in assets.
- Reflecting the government’s ambition to foster innovation and attract global talent, the initiative aims to generate 30,000 new jobs by 2030.
Business
Abu Dhabi awards contract for mega solar project
Dubai, United Arab Emirates -- Abu Dhabi, the capital of leading oil producer the United Arab Emirates, said Friday it...
- The 1.5-gigawatt Khazna Solar PV plant, expected to have nearly three million solar panels, will avert more than 2.4 million tons of carbon emissions per year,
- Engie and Emirati renewable-energy company Masdar won the contract to build the plant and sell EWEC the electricity.