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‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

TomTom cuts 300 jobs

The firm said it was realigning its organization as it embraces AI.

Aldar nets $953m in sales at Fahid

Aldar said 42 percent of the buyers are under the age of 45.

Qualcomm to Alphawave for $2.4 bn

The deal makes Alphawave the latest tech company to depart London.
  • Economic outlook brightening but political risks loom large in 2024, say chief economists

    Geneva, Switzerland – The latest Chief Economists Outlook released on May 29 presents a growing sense of cautious optimism about...

    The survey reveals a boost in the outlook for the US, where nearly all chief economists (97%) now expect moderate to strong growth this year, up from 59% in January

    Expectations for China are slightly less optimistic, with three-quarters expecting moderate growth and only 4% predicting strong growth this year

  • Egypt hikes subsidized bread price for first time in decades

    Cairo, Egypt - Egypt's cabinet decided Wednesday to raise the price of subsidized bread for the first time in 30 years,...

    The price of a loaf, long set at five piastres ($0.001), would quadruple to 20 piastres ($0.004) from June 1, Prime Minister Mostafa Madbouly told a news conference

    Madbouly acknowledged the move would be unpopular but emphasised the need to "rationalise the burden on the state treasury to ensure the sustainability of subsidies."

  • The U.S. playing the waiting game with inflation

    Federal Reserve official Neel Kashkari has reiterated the Fed’s wait-and-see approach about possible rate cuts.  In a recent interview on CNBC, Kashkari, who serves...

    The labor market remains strong in the U.S.

    The consensus is that the first rate cut won’t arrive before September

  • The Middle East fastest growing Real-Time Payments market globally

    For the second consecutive year, the Middle East is the fastest-growing real-time payments market globally, according to the 2024 Prime...

    The region saw a remarkable YoY growth of 33.6% in 2023 with 855 million real-time payment transactions

    Transaction value in the Middle East is projected to rise from US$230 billion in 2023 to US$903 billion by 2028

  • Asian shares mixed after Fed minutes, while Nvidia provides support

    Asian markets diverged Thursday after minutes from the Federal Reserve's most recent policy meeting indicated officials would keep interest rates...

    Federal Reserve's most recent policy meeting indicated officials would keep interest rates elevated

    Nvidia showed it turned a profit of $14.9 billion in the first quarter

  • France and UAE sign AI cooperation deal

    France and the United Arab Emirates on Tuesday signed a "strategic partnership" on artificial intelligence (AI) aimed at boosting cooperation...

    In 2017, the UAE became the first country in the world to appoint a minister of state for artificial intelligence, digital economy and remote work

    In April, US tech giant Microsoft announced a $1.5-billion investment in UAE-based artificial intelligence firm G42

  • Qatar banking on AI with nearly $2.5 bn in investments

    Qatari Prime Minister and Minister of Foreign Affairs H E Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani delivered on...

    Qatar is moving towards a comprehensive digital transformation by investing more in technology, innovation and AI

    The Qatar Central Bank (QCB) to issue guidelines on how to adapt artificial intelligence

  • India, Iran sign 10-year agreement to develop port project

    Tehran, Iran - India and Iran on Monday signed a 10-year contract to develop and equip the strategic Chabahar port in...

    The agreement will give India 10-year access to use the port, located close to Iran's southeastern border with Pakistan, according to Iran's Ministry of Roads and Urban Development

    The contract will in turn see India Ports Global Limited (IPGL) invest $370 million into "providing strategic equipment" and "developing the transport infrastructure of the port".

  • Asia markets mixed as investors assess China inflation data

    Asia-Pacific markets were mixed Monday as investors assessed China’s stronger-than-expected April inflation data, CNBC reportedChina’s consumer price index climbed 0.3%...

    China’s consumer price index climbed 0.3% year on year

    Japan’s first-quarter GDP expected to have contracted an annualized 1.5%

  • Kuwait approves new government amid political crisis

    Kuwait's emir approved a new cabinet Sunday two days after he dissolved the parliament elected only weeks earlier, and he...

    The new government -- the small emirate's 46th -- is headed by Prime Minister Sheikh Ahmed al-Abdullah al-Sabah

    MPs have previously accused ministers of corruption