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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.

Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.
  • US approves $500mn helicopter maintenance deal for Saudis

    Under the deal, US will provide 350 contractor technicians and two government officials over two years to handle the maintenance...

    Before his election Biden had promised to make Saudi leaders "pay" for the murder of US-based journalist Jamal Khashoggi.

    In late January Biden ordered a review of all arms contracts concluded by his predecessor Donald Trump with Saudi Arabia and other countries.

  • UAE to establish business council with Estonia

    The council will aim to enhance bilateral economic and trade relations between the two countries.

    The MoU was signed by Abdullah Mohammed Al Mazrouei, Chairman of the Federation of UAE Chambers of Commerce and Industry

    Peeter Raudsepp, CEO of Enterprise Estonia, signed the agreement on behalf of his country

  • UAE to invest billions of pounds in UK

    The UAE has vowed to invest £10 billion ($13.8bn) in the UK over five years as Abu Dhabi Crown Prince...

    The focus of investment will be on the UK's technology, infrastructure and energy transition sectors

    Mubadala's investment plans is likely to 'drive a significant increase' across the three target sectors

  • First Iranian fuel deliveries reach Lebanon

    Lebanon has been without a government for more than a year, and the main priority of Prime Minister Najib Mikati's...

    The first Iranian ship with fuel reached the Syrian port of Baniyas earlier this week

    The cargo was offloaded there and trucked to Lebanon, the first of several planned deliveries

  • Global economy to grow by 5.3 percent in 2021: UN

    But if widening economic gaps between the developed world and the poor countries persists, only a few will enjoy the...

    Many developing economies are being held back by constraints on fiscal measures, lack of monetary autonomy and limited access to vaccines.

    By 2025, developing countries will be $12 trillion poorer owing to the pandemic, the report said.

  • Iran replaces top nuclear negotiator with Raisi protégé

    Analysts said the reshuffle was intended as a warning that a much tougher policy could lie ahead if talks drag...

    Analysts said the reshuffle was intended as a warning that a much tougher policy could lie ahead if talks drag on over bringing Washington back into a landmark nuclear deal

    Abbas Araghchi was one of the key negotiators of the 2015 agreement but his role in the talks will now be limited to that of ministry adviser

  • UN urges Egypt, Sudan, Ethiopia to resume dam talks

    The Grand Ethiopian Renaissance Dam, set to be Africa's largest hydroelectric project when completed, has sparked an almost decade-long diplomatic...

    The UN’s top security body also invited observers who would be acceptable to the three parties

    The dam was the subject of a Security Council meeting in early July

  • UN urges ‘moratorium’ on AI systems that threaten rights

    UN high commissioner Michelle Bachelet presented a fresh report, which was called for by the UN Human Rights Council and...

    Bachelet calls for assessment of how AI pose risk to rights to privacy and freedom of movement and of expression.

    The UN report finds faulty AI tools have led to people being unfairly denied social security benefits and arrest of innocent people due to flawed facial recognition.

  • Dubai 11th popular city for investment visa programs, second for Covid safety

    Henley & Partners’ Best Residence-by-Investment Cities for Business Index ranks cities according to lifestyle, tax, education, real estate, healthcare, security,...

    Dubai scored highest overall in the index in the tax category.

    The emirate was second on the index for Covid-19 safety.

  • The Grand Renaissance Dam: Egypt’s Nile nemesis

    Ethiopia's refusal to sign a binding agreement on the dam has dashed hopes of a settlement with Egypt and Sudan.

    Egypt's area under agriculture could lose by up to 72 percent in case of short filing of the dam.

    Ethiopia has said earlier treaties on Nile waters have undermined its rights and the dam will help in the country's development.

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