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TSMC first-quarter net profit soars

Its net revenue for the quarter soared nearly 42%.

Tesla’s first Saudi showroom opens

The opening in Riyadh comes with Tesla sales dropping.

Mubadala Energy enters US energy market

Acquires a 24.1% interest in US firm Kimmeridge’s SoTex

Borouge to increase dividend from 2025

The company okayed $650 million final dividend for 2024.

TikTok’s US future uncertain

It must find non-Chinese owner to avoid ban.

Trio win physics Nobel for quantum mechanics work

Their discoveries in the field of quantum mechanics have paved the way for quantum computers, networks and secure encrypted communication.
  • Alain Aspect (France), John Clauser (US) and Austria's Anton Zeilinger were honored "for experiments with entangled photons, establishing the violation of Bell inequalities".
  • The Nobel season continues this week with the announcement of the winners of the Chemistry Prize on Wednesday, followed by the much-anticipated prizes for Literature on Thursday.

UAE’s latest bet on tech: a ministry in the metaverse

In a project launched at Dubai's gleaming Museum of the Future, it announced that the UAE's economy ministry was setting...
  • Representatives of tech giants mingled with entrepreneurs exploring the potential of the metaverse, a network of digital spaces intended as an extension of the physical world
  • The UAE has already introduced a law governing virtual assets and a regulatory body for cryptocurrencies while welcoming major crypto exchange platforms

Dubai Metaverse Assembly takes delegates to Mars

Participants were taken on an immersive space journey to a detailed metaverse city on the Red Planet.
  • Participants were taken on an immersive space journey to a detailed metaverse city on the Red Planet
  • Senior executives from major corporations also discussed topics such as the relationship between the metaverse and gaming, retail, banking, and venture capital

Pie from the sky: drone delivery lands in America

Amazon founder Jeff Bezos who in 2013 unveiled a delivery drone in a CBS interview, predicting that within five years...
  • Flying shipments of pizzas and birthday gifts have still not become the norm that tech leaders predicted
  • Skeptics question whether drone drop-offs can ever work on a large scale, but backers argue they are safer

Saudi NDF to finance $89m program to boost games, esports

Riyadh, Saudi Arabia---Saudi Arabia's National Development Fund has announced a program to fund the games and electronic sports sector with...
  • The program will be launched by the end of this year in cooperation with Saudi Federation for Electronic Sports and the Ignite.
  • It aims to provide products and financing solutions through the development funds and banks affiliated with the Fund in partnership with private sector financial institutions.

Sixteen European news agencies launch joint Brussels newsroom

The 16 agencies -- dpa, AFP, AGERPRES, ANSA, APA, ATA, Belga, BTA, EFE, Europa Press, FENA, HINA, MIA, STA, Tanjug and...
  • The hope is that by working more as a network, the agencies' pooled resources will provide a deeper understanding of European news to readers in their home national markets.
  • Journalists from the smaller European agencies will share workspaces in Belga's Brussels headquarters and offices near EU headquarters, as well as training opportunities.

Saudi Arabia eyes partnerships to accelerate growth of digital economy

Saudi IT Minister, Eng. Abdullah bin Amer Al-Swaha, held meetings with his counterparts from the other countries at the Indonesian...
  • Saudi IT Minister, Eng. Abdullah bin Amer Al-Swaha, held meetings with his counterparts from the other countries at the Indonesian city of Bali
  • The meetings also discussed enhancing cooperation in the areas of digital economy growth, emerging technologies and the digital government

Latest technologies glamorize Gulf cosmetic industry

The UAE leads the region with adoption of developed regulations as technologies such as AI and VR have revolutionized the...
  • The UAE leads the region with adoption of developed regulations as technologies such as AI and VR have revolutionized the diagnostics and treatments in the aesthetic sector
  • The global market for AI in beauty and cosmetics is expected to grow from its 2021 value of US$ 2.7 billion to a whopping US$ 13.34 billion by 2030, a healthy CAGR of 19.7%

Saudi to host second Global Artificial Intelligence Summit in Sept

Riyadh, Saudi Arabia: Riyadh will host the second edition of the Global Artificial Intelligence Summit from 13 to 15 September,...
  • AI is expected to boost global gross domestic product (GDP) by 14 percent by 2030, or nearly $15 trillion.
  • The summit includes more than 100 sessions in which more than 200 speakers will participate, working with more than 3,000 participants.

Julian Assange: Black eye of free press

Whether it is the killing or state-sponsored arraignment of journalists or the closure of defiant media organizations, press freedom is...
  • Whether it is the killing or state-sponsored arraignment of journalists or closure of defiant media organizations, the press freedom is under a huge stress across the world
  • There is a two-fold increase in polarization amplified by information chaos, according to the 20th World Press Freedom Index published by Reporters Without Borders

Apple’s changes contradicts European rules, 34 firms complain

Brussels, Belgium - Changes Apple is making to its services in the European Union "make a mockery" of new antitrust rules...

Company News

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Sam Altman’s return ushers in new era at OpenAI

The five-day saga began on Friday, when Altman was abruptly sacked by the board for reasons that are still unclear....

AI transforms office roles and enhances productivity

Artificial intelligence automates tasks and boosts capabilities, leading to transformative changes in job roles, productivity, and staff engagement dynamics.

Internet out: India deploys shutdowns in name of security

New Delhi, India - With the world's largest biometric ID database, a pioneering digital payment system for daily transactions and a...

Most Read

Does Anghami and OSN+ collab make financial sense?

A first of its kind in the region, the combination will offer consumers digital services of the best and latest...
  • The OSN Group will invest in Anghami at a valuation of $3.65 per share, 3.9x the stock's average price for the past month.
  • The combined entity will bring together over 120 million registered users and will be one of MENA’a largest streaming platforms.

OpenAI announces Sam Altman to return as CEO

In a letter released to media, the vast majority of the company's 770-strong staff suggested they would follow Altman unless...
  • OpenAI's board sacked Altman last week, with Microsoft's CEO Satya Nadella announcing soon after he was hiring Altman
  • But in the fast-moving sequence of events, Altman said Tuesday he had the support of Nadella for his return as OpenAI's CEO

AI, Industry 4.0 transform Middle East manufacturing

"As we look ahead, the manufacturing landscape is set to continue evolving, navigating through the VUCA (volatility, uncertainty, complexity, and...
  • Saudi Arabia, the UAE, and Egypt spearhead the Middle East's manufacturing growth, harnessing AI and Industry 4.0 to revolutionize their economic landscape.
  • In 2024, Middle Eastern manufacturers will focus on smart manufacturing, AI-enhanced supply chains, and digital ecosystems, driving sustainable growth in a pivotal year.