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ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

Masdar issues $1bn bond

Its green bond program hits $2.75 billion.

All eyes on tech firms as strict EU digital rules come into effect

The landmark Digital Services Act (DSA) compels tech companies to better police content to protect European users against disinformation and...
  • The first phase of the regulation affects 19 "very large" digital platforms including social media networks, websites and online retailers with at least 45m monthly active users.
  • They are: Alibaba AliExpress, Amazon Store, Apple AppStore, Booking.com, Meta-owned Facebook and Instagram, Google's Maps, Play, and Shopping, LinkedIn, Pinterest.

India first nation to land spacecraft near Moon’s south pole

The landing of the unmanned Chandrayaan-3, which means "Mooncraft" in Sanskrit, comes days after a Russian probe crashed in the...
  • The Chandrayaan-3 mission has captivated public attention since launching nearly six weeks ago in front of thousands of cheering spectators.
  • Chandrayaan-3 took much longer to reach the Moon than the Apollo missions in the 1960s and 1970s, which arrived in a matter of days.

e& capital invests in Maxbyte

The funding aims to expedite growth by bolstering sales team.
  • Maxbyte is a leading provider of Industry 4.0 solutions with a strong presence in the automotive, defense, utilities, and food and beverage sectors.
  • It aims to enable smart connected industrial enterprise for flexibility, productivity, predictable revenue and profit growth, as well as sustainability.

Microsoft submits new Activision deal

A previous version of the acquisition deal was blocked.
  • Xbox-owner Microsoft launched a bid for Activision Blizzard early last year, seeking to establish the world's third biggest gaming firm by revenue.
  • Britain's Competition and Markets Authority said it has "opened a new phase 1 investigation into the restructured deal by Microsoft to buy Activision".

Generative AI likely to supplement than destroy jobs: ILO

Geneva, Switzerland -- Generative Artificial Intelligence (AI) is more likely to augment than destroy jobs by automating some tasks rather...
  • An International Labour Organization (ILO) study has found most jobs and industries are only partly exposed to automation and are more likely to be complemented by Generative AI.
  • It suggests this new wave of technological transformation could offer important benefits for developing countries.

Saudi Arabian Crown Prince launches KAUST’s new strategy

RIYADH, SAUDI ARABIA - Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud, Prime Minister and Chairman of KAUST Board...
  • Strategy aims to transform research into economically productive innovations by focusing on national priorities for research, development and innovation.
  • It aims to strengthen KAUST’s partnerships with both the public and private sectors, which will contribute to achieving the objectives of Vision 2030.

Cloud-based tools help optimize customer experience

Customer experience leaders in organizations of any size will see increased satisfaction in self-service, routing, and agent utilization by implementing...
  • Seventy percent of consumers believe a company's effectiveness is determined by its service
  • New tools help automate tasks, provide data and insights, inform decisions, and improve workflow

International Military Forum Army-2023 opens in Moscow

MOSCOW, RUSSIA - The international military-technical forum Army-2023 opens at the Patriot Congress and Exhibition Center here.About 1,500 prominent Russian...
  • About 1,500 prominent Russian companies of the military-industrial complex will present their products.
  • 85 foreign companies and organizations from seven countries will also participate in the forum.

Huawei H1 revenue at US$43.3bn

The firm works to diversify its business operations.
  • The Shenzhen-based company has for several years been at the center of an intense tech standoff between China and the US.
  • Since 2019, sanctions have cut the company off from global supply chains that gave it access to US-made components and technologies.

AI anxiety: workers fret over uncertain future

Legal assistants, programmers, accountants and financial advisors are among those professions feeling threatened by generative AI.
  • Goldman Sachs analysts see generative AI impacting, if not eliminating, some 300 million jobs, according to a study published in March.
  • AI is bringing with it a level of apprehension matched by climate change and the Covid-19 pandemic, a therapist said.

ESA, SAP ink agreement

ESA will consolidate operations under a single ERP solution

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In Davos, AI excitement persists but fears over managing risks

A recent IMF report said AI would affect nearly 40 percent of jobs around the world, and some 60 percent...

Google CEO says more layoffs are likely this year

SAN FRANCISCO, US - Google CEO Sundar Pichai has warned employees that more layoffs are in store at the search engine...

Japan literary laureate admits using ChatGPT for her novel

TOKYO, JAPAN - The winner of Japan's most prestigious literary award has acknowledged that about "five percent" of her futuristic novel...

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IMF chief at Davos: AI holds risks, opportunity for global economy

Artificial intelligence poses risks to job security around the world but also offers a "tremendous opportunity" to boost flagging productivity...
  • "We must focus on helping low-income countries in particular to move faster to be able to catch the opportunities that artificial intelligence will present," Georgieva told AFP.
  • Georgieva said 2024 is likely to be "a very tough year" for fiscal policy worldwide, as countries look to tackle debt burdens accumulated during the Covid-19 pandemic.

Global personal computer shipments decline 14.8 percent in 2023

DUBAI, UAE - Worldwide PC shipments totaled 63.3 million units in the fourth quarter of 2023, a 0.3 percent increase...
  • PC shipments reached 241.8 million units in 2023, a 14.8 percent fall from 2022.
  • This is the first time that shipment volume has dipped below 250 million since 2006.

EU court’s adviser says $2.6bn fine on Google be upheld

Google suffered a legal blow at the European Court of Justice when the body's adviser recommended that a US$2.6 billion...
  • The opinion will feed into a legal battle Google has been waging to overturn the fine the European Commission hit it with in 2017.
  • The commission determined that Google abused its dominant position by favoring its own Google Shopping service.