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
Saudi public investment funds assets rise 20 percent in Q1 to $61 billion
Dubai, UAE -- Assets of Saudi Arabia's public investment funds rose 20 percent year-on-year to SAR231.7 billion ($61.8 billion) in...
Business
Business
Cryptocurrency Ether witnesses meteoric rise since launch
NEW YORK, US – Bitcoin has captured the limelight in recent weeks as it surged to a new record high, yet...
- Launched in 2015, Ether is by far the second-largest digital currency in terms of total value, now estimated at over $460 billion.
- Bitcoin's rise has been well-documented, but Ether's has been even more impressive, surging almost 72 percent year to date.
Market Report
Non-Jordanian investors own 47% of ASE market value as of February 2024
AMMAN, JORDAN – Data released by the Amman Stock Exchange reveals that non-Jordanian investors bought shares worth US$12.5 million (JD8.9...
- From the beginning of 2024 till end of February, non-Jordanian investments in the stock exchange totaled $21.8 million in purchases.
- The contribution of Arab investors in the non-Jordanian group accounted for US$11.7 million or 93.6 percent in February.
Business
Doctors play key role in enhancing healthcare system
“Emirati doctors play a key role in enhancing the healthcare system and promoting health and wellness throughout society. We look...
- UAE Minister of Health highlights the contributions of Emirati doctors on Emirati Doctor's Day.
- Abdul Rahman bin Mohammad bin Nasser Al Owais praises doctors for their dedication and excellence.
Business
Aramco profit down in 2023
The oil giant posted a 24.7% fall in net profit to US$121.25bn.
- Aramco said the decline reflects the impact of lower crude oil prices and lower volumes sold
- Saudi Arabia said last week it was extending its oil supply cuts of one million bpd through June
Business
Lufthansa cabin crews to go on strike
The announcement came after the airline's record profits.
- The strike will cover flights out of Frankfurt on Tuesday and from Munich on Wednesday, with Lufthansa's subsidiary CityLine also affected
- The latest walkout began last Thursday, with Lufthansa ground staff staging a nationwide two-day strike after a previous walkout in February
Business
Ooredoo partners with Dropbox
It will enable customers to access Dropbox's tools.
- The partnership will enable business customers across Ooredoo’s markets to access Dropbox’s fast, secure, and reliable syncing and collaboration software
- Ooredoo CEO said the partnership with Dropbox underlines the company's commitment to deliver comprehensive digital solutions for their business customers
Business
GCC records surge in women’s workforce participation
Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS...
- Driven by resilience, legislation, and determination, the female populace is reshaping the socio-economic fabric of the Gulf countries, a TRENDS report suggests.
- This journey from traditional roles to transformative leadership signifies a key moment in GCC's history, setting a global benchmark for gender parity and inclusivity.
Business
Amman Chamber of Industry exports for January-February 2024 reaches $1.3bn
AMMAN, JORDAN - Amman Chamber of Industry (ACI) exports amounted to US$1.3 billion (JD926 million) during the last two months...
- During the first two months of 2024, India, the US, Saudi Arabia and Iraq accounted for the majority of ACI’s exports.
- The chamber's exports to the US surged during the first two months of 2024 to about US$297 million compared to US$275 million.
Business
Doha Bank bond issue oversubscribed four times
Doha, Qatar - Doha Bank has successfully issued $500 million in international bonds, garnering a total order book of $2...
- The achievement follows an extensive marketing campaign by Doha Bank's management, engaging with investors globally to present the bank's objectives and performance overview
- The positive response from investors reflects confidence in Doha Bank's future prospects and the robust fundamentals of the Qatari economy
Business
Stable credit conditions make GCC firms resilient
Gulf companies benefit from supportive credit environments, ensuring resilience in 2024 despite global economic challenges and geopolitical risks, says a...
- Gulf companies benefit from supportive credit environments, ensuring resilience in 2024 despite global economic challenges and geopolitical risks, says a report.
- GCC entities are poised to handle higher refinancing and interest costs through improved performance and non-oil growth, maintaining stable debt levels, it adds.
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
Company News
Borouge Q2 net profit $193m
Business
Thousands of carpets sunbathe at Turkish resort
Arts & Culture
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Portugal’s Felix joins Ronaldo at Al Nassr in Saudi
Arts & Culture
What the world can learn from the Middle East’s wellness vision
Across the region, countries are aligning national visions with real investment in health, longevity, and quality of life.
Opinion
Bitcoin hits record high above $125,000
Tokyo, Japan -- Bitcoin reached a new record high on Sunday, rising above the $125,000 mark. The cryptocurrency reached $125,689,...
Business
OpenAI valuation soars to $500 bn in private share sale: reports
If confirmed, OpenAI workers' sale of a reported $6.6 billion in shares to investors would make the company the world's...
Business
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Business
Google infuses Gemini generative AI into home gadgets
Paris, France -- Google said Wednesday it was adding its Gemini generative AI assistant to its smart home devices, saying...
- The new "Gemini for Home" feature "replaces the Google Assistant", the previous system for managing the American tech giant's domestic gadgets, the company said in a blog post.
- Google's displays, speakers, cameras and doorbells bought over the past 10 years would all be affected, the company said.
Business
Electronic Arts to be bought by PIF-led consortium for $55 bn
Washington, United States -- Video game giant Electronic Arts announced Monday it would be acquired by a consortium led by...
- EA said this would be the largest all-cash private equity buyout in history.
- Saudi Arabia's PIF, which already holds a 9.9 percent stake in EA, will roll over its existing investment as part of the transaction.
Business
Transforming your hotel into a sector leader in sustainability
The hospitality industry sits at the crossroads of experience and responsibility. As utilities, energy, and resource costs rise, and as...
- The most successful sustainability initiatives are those that enhance, rather than limit, the guest experience.
- Transforming a hotel into a sustainability leader also requires rethinking procurement.