The shift from innovative to native: Unlocking where real AI value lies
There are, of course, technical hurdles to overcome, too, one of which is modernizing legacy systems. Many enterprises still operate...
Opinion
Iran escalation sharpens oil, inflation concerns
Lale Akoner, Global Market Analyst, says while the escalation has introduced new risks, the broader investment case for equities in...
Geostrategy
Economy
United Kingdom renationalizes first train operator under Labor reforms
London, United Kingdom -- Britain's South Western Railways on Sunday becomes the first private train operator to be returned to...
- Renationalizing all of the UK's rail operators is among the key policies launched by Prime Minister Keir Starmer since his party's return to government last July.
- Train passengers in Britain suffer from frequent cancellations, in addition to high ticket prices and regular confusion over which services they can be used on.
Economy
Trump fires new 50% tariff threat at EU, drawing stiff response
Washington, United States - President Donald Trump rekindled the US trade war on Friday, threatening to impose a 50 percent...
- If they come into effect, the new duties on Brussels would dramatically raise Washington's current baseline levy of 10 percent
- The US president has also introduced sector-specific measures on automobiles, steel and aluminum not produced in the United States
Business
Trump threatens Apple with a 25% tariff if iPhones aren’t made in US
Washington, United States -- US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones...
- Trump's sweeping tariffs on major US trading partners have roiled global markets and upended international commerce.
- Trump's comments Friday echo statements he made last week while on a trip to Qatar, urging Apple to bring iPhone production to US shores.
Economy
UAE-Morocco consortium sign $14 billion worth of energy, water infrastructure projects
Morocco on Monday signed deals with an Emirati-Moroccan consortium for energy and water infrastructure projects, which according to one of...
- The projects aim to "strengthen both water security and energy independence" in Morocco, the signatories said in a joint statement
- The total investment amounts to nearly 130 billion dirhams by 2030, Taqa Morocco said in a separate statement
Business
China’s Xiaomi to invest nearly $7 bn in chips
Chinese tech giant Xiaomi will invest 50 billion yuan ($6.9 billion) in developing high-end smartphone chips, the firm's founder said...
- Xiaomi, which sells goods from smartphones to vacuum cleaners and EVs, is one of China's most prominent consumer electronics firms.
- Xiaomi took initial steps into semiconductors for smartphones with the launch of the firm's first in-house chip - the Surge S1 - in 2017.
Economy
China factory output beats forecasts, weathering tariffs
Beijing, China - Factory output in China grew at a faster rate than expected last month, official data showed Monday,...
- Industrial production in the export powerhouse grew 6.1 percent on-year in April, according to figures published by the National Bureau of Statistics (NBS)
- The reading was higher than the 5.7 percent forecast in a Bloomberg survey, but still lower than the 7.7 percent jump recorded for March
Business
General Gulf inflation rate logs 1.7% by end of Dec 2024
Muscat, Oman -- The general inflation rate in the GCC countries rose by 1.7 percent at the end of December...
- The increase is primarily driven by a 5.9 percent increase in housing prices and a 2.8 percent rise in the prices of goods and services.
- The culture and entertainment group recorded a 1.8 percent increase, while both the food and beverages group and the education group rose by 1.2 percent each.
Business
US stocks move sideways but poised for weekly gains
The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in...
- The broad-based S&P 500 added 0.1 percent at 5,923.30, while the tech-rich Nasdaq Composite Index gained 0.2 percent to 19,146.48.
- Broadband and cable company Charter Communications gained 2.5 percent after announcing a deal to acquire Cox Communications for $34.5 billion.
Economy
Tehran says no objection to US investment in Iran
Iranian Foreign Minister Abbas Araghchi said Thursday that Tehran has no objection to US companies operating in the country, including...
- "We have no ban on the economic presence of American companies in Iran," Araghchi said, attributing the lack of US business activity to primary sanctions imposed by Washington
- His remarks come after President Donald Trump said Washington was "getting close" to a new nuclear deal with Tehran to replace the one he abandoned during his first term in 2018
Economy
US, China to slash tariffs as Trump to speak to Xi
After the first meetings between Washington and Beijing since Trump ratcheted up his trade war, the world's two biggest economies...
- The world's two biggest economies agreed in a joint statement to bring their triple-digit tariffs down to two figures and continue negotiations
- China hailed the "substantial progress" made at the talks, held at the discreet villa residence of Switzerland's ambassador to the United Nations in Geneva
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The shift from innovative to native: Unlocking where real AI value lies
There are, of course, technical hurdles to overcome, too, one of which is modernizing legacy systems. Many enterprises still operate...
Opinion
Company News
Latest News
Qatari firm to invest $29.7 billion in Egypt coastal development
The project in the Alam al-Roum area, in Egypt's Matrouh Governorate, will span "4,900 acres... extending across a coastline of...
Economy
Bahrain: Financial pioneer of the Gulf
In the post-digital world, Bahrain’s center of activity, the city of Manama, has stiff yet healthy competition from the GCC...
Economy
Qatar warns will cut gas supply to Europe over EU’s green rules
Qatar's energy minister on Monday warned the Gulf state would halt its supply of liquefied natural gas to Europe over...
Economy
Most Read
Economy
OPEC+, including Saudi Arabia and Russia, agree further hike to their oil production
The 137,000-barrels-per-day hike will apply from December and remain at that level for the following three months, signifying a "pause"...
- The 137,000-barrels-per-day hike will apply from December and remain at that level for the following three months, signifying a "pause" in what had been regular hike since April
- The announced increase, which tallied with analyst expectations, has been seen as a bid by the key members of OPEC+ - known as the Voluntary Eight - to gain greater market share
Economy
Social media fooled by AI video of ‘sky stadium’ for Saudi 2034 World Cup
Paris, France - An AI-generated video claiming to show one of the football stadiums for the 2034 FIFA World Cup...
- The video of glowing arena built atop a towering skyscraper was shared by thousands of social media accounts, with millions of users believing it was the official visual
- While Riyadh has unveiled plans to build a football area on a real estate complex in The Line – a futuristic new megacity project – the official plans bear no likeness to the clip
Economy
Backed by its sovereign wealth fund, Saudi chases AI ambitions with homegrown firm pitched to global investors
The company, launched in May, is bankrolled by Saudi's powerful Public Investment Fund, which has played a key role in...
- The company, launched in May, is bankrolled by Saudi's powerful Public Investment Fund, which has played a key role in financing the kingdom's gigaprojects
- But Riyadh's ambitions to become a global AI hub face fierce competition from the neighbouring United Arab Emirates, which have invested in AI for years