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SAIB reports $139 million Q1 net profit

its assets increased by 20.08 percent to $43.65bn.

Nissan forecasts $5.3bn annual net loss

Last year, it announced 9,000 job cuts worldwide.

Saudia to acquire 20 wide-body aircraft

10 of these being acquired for its flydaeal low-cost airline

ADIB’s Q1 net profit $517 million

Q1 2025 net profit before tax increased 18% YoY.

Emirates Islamic Q1 profit $394m

The bank's profit crossed AED 1bn mark for the first time.

IOTA Foundation launches US$10m investment fund at Investopia 2024

ABU DHABI, UAE – Minister of Economy and Chairman of Investopia Abdullah bin Touq Al Marri attended the unveiling of...
  • The fund's primary goal is to promote the development of TradeTech solutions and support the expansion of startups.
  • The announcement aligns with Investopia's vision to inspire entrepreneurs to expand into new economic sectors.

EU to tell big tech firms to curb election risks or face fines

BRUSSELS, BELGIUM – The EU will put more pressure on the most popular online platforms, like X and TikTok, to tackle...
  • The European Commission, the EU's executive arm, is expected to adopt new guidelines.
  • They will come under the EU's mammoth content moderation law, the Digital Services Act.

Bayanat, Yahsat shareholders to vote on merger and creation of SPACE42 on April 25

ABU DHABI, UAE – Bayanat AI PLC and Al Yah Satellite Communications Company each issued a circular on Thursday calling...
  • The respective shareholders of each entity will vote on the proposed merger of the two Abu Dhabi-headquartered and ADX-listed entities.
  • The proposed would create one of the most valuable publicly listed space companies in the world with potential for significant global growth.

White House announces $20bn in grants, loans to boost Intel chip production

Washington, United States - The White House unveiled almost $20 billion in new grants and loans Wednesday to support Intel's US...
  • Wednesday's $8.5 billion direct funding announcement is the largest of any grant made so far under the $52.7 billion 2022 CHIPS and Science Act.
  • The money will help incentivize Intel to make more than $100 billion worth of investments, which will be one of the largest investments ever in US semiconductor manufacturing.

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.

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.

Cyber insurance shapes the future of cybersecurity

Cyber insurance, particularly around ransomware, is moving towards a world where insured businesses have strong cyber resilience, well-defined disaster recovery...
  • Rising cyber-attack and ransomware effectiveness boosts demand for cyber insurance, leading to increased premiums and stricter coverage rules amid impact on businesses.
  • Business risks have evolved from physical to digital, propelling cyber insurance toward a predicted $84.62 billion industry by 2030, highlighting the sector's rapid growth.

Potential investors value Telegram at $30bn, says co-founder Pavel Durov

MOSCOW, RUSSIA – The Telegram is valued by potential investors at more than US$30 billion, the co-founder of the social...
  • The US$30 billion valuation was made by global technology funds in particular, Durov said.
  • The Telegram will consider the sale of a portion of shares to its standing users, the businessman added.

Abu Dhabi launches technology investment company MGX

ABU DHABI, UAE – The Artificial Intelligence and Advanced Technology Council (AIATC) announced on Monday the creation of MGX, a...
  • Mubadala and G42 will serve as foundational partners in the creation of the new company.
  • MGX will invest to accelerate the development and adoption of AI and advanced technologies.

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.

Trump cuts to US-funded media put reporters at risk: RSF

President Donald Trump's dismantling of US-funded international media outlets such as Voice of America could put their journalists at risk,...

Latest News

Sheikh Hamdan praises ADNOC’s efforts in using AI in production process  

ABU DHABI, UAE - Sheikh Hamdan bin Zayed Al Nahyan, Ruler's Representative in Al Dhafra Region, said that under the...

White House rolls out ‘concrete safeguard’ policies for federal AI

Washington, US - "Concrete safeguards" for government use of artificial intelligence were announced by the White House on Thursday, as it...

GenAI set to bridge cybersecurity skills gap by 2028

As GenAI narrows cybersecurity skills gap, organizations will prioritize aptitude over specialized education, adapting hiring practices to meet demands of...

Most Read

ESA, SAP ink agreement

ESA will consolidate operations under a single ERP solution
  • ESA will benefit from a streamlined and integrated system, improving visibility and control over all of its operations.
  • ESA will be using an integrated supply chain model that eliminates process silos, predicts disruptions.

IOTA Foundation launches US$10m investment fund at Investopia 2024

ABU DHABI, UAE – Minister of Economy and Chairman of Investopia Abdullah bin Touq Al Marri attended the unveiling of...
  • The fund's primary goal is to promote the development of TradeTech solutions and support the expansion of startups.
  • The announcement aligns with Investopia's vision to inspire entrepreneurs to expand into new economic sectors.

EU to tell big tech firms to curb election risks or face fines

BRUSSELS, BELGIUM – The EU will put more pressure on the most popular online platforms, like X and TikTok, to tackle...
  • The European Commission, the EU's executive arm, is expected to adopt new guidelines.
  • They will come under the EU's mammoth content moderation law, the Digital Services Act.