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DAE net profit up 36.2%

Revenues grew by 9 percent to $1.42bn from $1.31bn in 2023.

Borouge 2024 net profit $1.24bn

The company said it will maintain a $1.3bn dividend for 2025.

ADQ, Orion to establish JV

The partners commit to deploying $1.2bn in the next four years.

Alpha Dhabi acquires interest in NCTH

The deal increases NCTH's portfolio to 8 hotels with 1,500 keys.

Meraas awards construction contract

The $272m contract has been awarded for Bluewaters Bay.

Samsung reshuffles leadership amid challenge in AI chips

Seoul, South Korea - Samsung Electronics reshuffled its leadership on Wednesday as it looks to gain an edge in the production...
  • On Wednesday it tapped vice-chairman Jun Young-hyun to lead its memory business and appointed Han Jin-man as the new boss of the chip foundry division
  • The reshuffle aims to "strengthen the company's growth and future competitiveness, focusing on the semiconductor business", Samsung said in a statement

TikTok makes AI driven ad tool available globally

San Francisco, United States - TikTok on Thursday began letting all marketers on its platform use an artificial intelligence-powered tool for...
  • The news came with word that Getty Images will make its stockpile of pictures and video available to TikTok's AI‑powered video generation tool called Symphony Creative Studio
  • Brands will be able to use Getty's licensed images and videos to create AI-generated ads, including marketing messages featuring characters resembling real people

Drought forces Big Tech to rethink thirsty LatAm data centers

A prolonged drought in much of South America has forced tech giants Google and Amazon to rethink their plans for...
  • Plans for a US$200 million data center project needed a cooling system that would consume 1.85 billion gallons of water yearly
  • Google said the new facility would use air cooling technology, reducing its water use to a minimum

Major tech companies turn to nuclear energy to power data centers and AI initiatives

Firms such as Amazon, Microsoft, and Google are now looking to outgun each other to tap atomic energy, while Goldman...
  • Amazon, Microsoft, and Google are now looking to outgun each other with announcements on atomic energy
  • According to Goldman Sachs research, data centers will consume 8 percent of US power by 2030, up from 3 percent in 2022

“Sextortion” of teens puts Instagram in trouble; Meta announces new combat measures

Instagram and Facebook's parent company Meta accepts the rise of child/teen predators on Instagram and subsequently announces measures to battle...
  • New measures to fight sextortion, a form of online blackmail where criminals coerce victims, often teens, into sending sexually explicit images of themselves
  • In some countries, Instagram will show teens a video in their feeds about how to spot sextortion scams

AI adoption in GCC surges as governments and the private sector embrace technology

With 93% of Saudi workers considering generative AI essential, alongside 95% in the Middle East and 79% globally, the region's...
  • 68% of Saudi workers use generative AI weekly, compared to 55% globally, while an overwhelming 93% consider it an essential tool at work
  • The New York Times reported that representatives from Saudi Arabia's PIF have discussed potential partnerships with leading Silicon Valley venture capital

Art and culture retain power to humanize the Intelligent Age, says WEF’s Fowler

Davos, Switzerland -- In an age where artificial intelligence is reshaping our lives, the World Economic Forum's Arts and Culture...

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Drought forces Big Tech to rethink thirsty LatAm data centers

A prolonged drought in much of South America has forced tech giants Google and Amazon to rethink their plans for...

Major tech companies turn to nuclear energy to power data centers and AI initiatives

Firms such as Amazon, Microsoft, and Google are now looking to outgun each other to tap atomic energy, while Goldman...

“Sextortion” of teens puts Instagram in trouble; Meta announces new combat measures

Instagram and Facebook's parent company Meta accepts the rise of child/teen predators on Instagram and subsequently announces measures to battle...

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