Hong Kong, China -- Bitcoin sank below $80,000 on Friday for the first time in more than three months as a sell-off in the cryptocurrency sector gathered pace amid volatility in global markets. The digital unit fell to as low as $79,525.88 in early Asian trade -- its lowest level...

Hackers from North Korea have become notorious for their sophisticated and relentless tradecraft, according to Chainalysis. Nearly 60 percent of all 2024 crypto thefts by value were linked to the hermit nation.

This is an increase of 85.7 percent over the previous year.

e&’s subscriber base rose 11.7% to 189.3m

Singapore, Singapore -- Southeast Asia's largest bank DBS said that 4,000 jobs could be cut in the next three years and be replaced by artificial intelligence as the technology becomes more advanced. "Over the next three years, we envisage that AI could reduce the need to renew about 4,000 temporary/contract...

Nicosia, Cyprus -- Cyprus and Egypt on Monday signed an agreement with an energy consortium to export gas from the Mediterranean island's offshore fields to Europe after being processed in the North African country. Egypt, alongside Italian energy giant Eni and France's TotalEnergies, have agreed to "collaborate to commercialise the natural...

Riyadh, Saudi Arabia -- Saudi Arabia's annual inflation rate in Jan 2025 reached 2 percent compared to January 2024, the kingdom's General Authority for Statistics (GASTAT) said in its Consumer Price Index (CPI) report for January 2025. According to GASTAT, Saudi Arabia's inflation rate is considered the lowest among the...

San Francisco, United States -- OpenAI's board chairman on Friday said it has unanimously rejected an Elon Musk-led offer to buy the hot artificial intelligence company for $97.4 billion. "OpenAI is not for sale, and the board has unanimously rejected Mr. Musk's latest attempt to disrupt his competition," chairman of the...

The Group's revenue increased 48 percent year-on-year.

London, United Kingdom -- Major stock markets mostly rallied and oil prices retreated Thursday on hopes for an end to the war in Ukraine and despite fresh tariff threats. London was a rare faller owing to sharp losses to share prices of big companies, including Unilever, Barclays and British American Tobacco,...

The company's revenue increased by 29 percent to $3.54 billion.

Dubai, United Arab Emirates -- The United Arab Emirates is planning to launch new artificial intelligence models inspired by China's DeepSeek, a senior official told AFP, calling the system's disruptive emergence "fantastic news". Faisal Al Bannai, the driving force behind the UAE's Falcon large language model, said DeepSeek's challenge to American...

Minus UAE corporate tax, it would have grown by 2.4% to $725m

The Sukuk were offered in a five-year and a 10-year tranche.

Abu Dhabi, UAE -- UAE's non-oil foreign trade increased by a record 14.6 percent in 2024, compared to 2023, reaching AED 3 trillion ($816 billion), according to Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade. In statements to the Emirates News Agency (WAM), Dr. Al Zeyoudi...

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

Mariarosa Cutillo, UNFPA Chief of the Private Sector and Civil Society Branch, says businesses need to provide adequate maternal health support and response to gender-based violence in the workplace.

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

In a bid to boost prices, the Organization of the Petroleum Exporting Countries (OPEC) headed by Saudi Arabia and Russian-led allies have cut supply by almost six million barrels per day (bpd) since 2022. The OPEC+ alliance has repeatedly postponed putting some of the withheld barrels back on the market.

Abu Dhabi, UAE -- Abu Dhabi’s real estate market recorded AED10.6 billion in transactions in January, totaling 2,514 property deals. According to DARI real estate platform of the Department of Municipalities and Transport in Abu Dhabi, sales transactions totaled AED6.5 billion across 1,730 deals. Meanwhile, mortgage transactions from the beginning...

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

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

Lyten, a Silicon Valley-based company, is revolutionizing the energy storage market with its groundbreaking lithium-sulfur battery technology. These batteries offer significantly higher energy density and are significantly lighter than traditional lithium-ion batteries while eliminating the need for environmentally harmful mined minerals. Laszlo Horvath is responsible for international business development at...

Dubai, UAE -- Dubai’s real estate sector recorded a total of 2.78 million procedures in 2024, the highest in its history, with a combined value of AED 761 billion ($207.19 billion). The record number of procedures, which include both real estate transactions and rental agreements, represent a 17 percent increase...

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

DAVOS, Switzerland -- Bilel Al Souaied is an entrepreneur and venture capitalist. He is the COO of Cytomate, a leading provider of security posture management and threat intelligence products. Bilel is attending Davos with the Global Shavers Community, a World Economic Forum initiative and the only youth delegation participating in...

Davos, Switzerland -- Aziz Abakirov, the CEO of the High Technology Park of the Kyrgyz Republic, represents a unique initiative aimed at positioning Kyrgyzstan as a global hub for technology and innovation. In an interview with TRENDS at Davos, Abakirov shares insights about the country’s vision, its human capital, and...

Davos, Switzerland -- The World Economic Forum (WEF) has announced signing agreements for three new Centers for the Fourth Industrial Revolution (C4IR) launching in 2025. Additionally, the WEF announced that the C4IR United Arab Emirates has been renewed. The upcoming centers in Muscat, Pretoria, and Riyadh will tackle critical global...

Kuwait -- The UAE has topped the Arab list as the best and most attractive destination for investment and business in auto sales activity for 2024, Arab Investment and Export Credit Guarantee Corporation (Dhaman) has said. The Kuwaiti-based Dhaman organization stated in its fourth sectoral report for 2024 on the...

The profit surpassed AED 1 billion for the first time in bank's history.

The burgeoning creator economy presents an unprecedented opportunity for GCC to outpace global cities and establish itself as the epicenter of next-generation content, said Julien Hawari, CEO Million.

Under the deal, AD Ports Group owns 51% stake.

Dhahran, Saudi Arabia -- Aramco's North Ghawar Oil Producing Complex has become the company's fifth facility to be added to the World Economic Forum Global Lighthouse Network, having been recognized for its comprehensive adoption of advanced Fourth Industrial Revolution (4IR) technologies that support its operational and environmental performance.Aramco said in...

The acquisition was made by way of a capital increase.

Riyadh, Saudi Arabia -- Non-institutional foreign investors increased their stake in Tadawul-listed equities, excluding Saudi Aramco, from 9.70 percent to 9.72 percent, equivalent to SAR 334.55 billion, during the week ending January 9, according to market data. This category of ownership includes swap holders, residents, and qualified foreign investors (QFIs),...

The $2.1bn contracts are aimed at enhancing LNG supply infrastructure.

Doha, Qatar -- Real estate sales contracts worth 251.25 million qatari riyals were registered with the emirate's Real Estate Registration Department at the Ministry of Justice during the period from Dec. 29- Jan 2. During the same period, the total sales contracts for the real estate bulletin for residential units...

Riyadh, Saudi Arabia -- Saudi Arabia's Industrial Production Index (IPI) increased by 3.4 percent in November 2024, compared to Nov 2023, according to the kingdom's ]General Authority for Statistics (GASTAT). This increase is driven by growth in mining and quarrying, manufacturing, water supply, sewerage, and waste management and remediation activities....

The company will acquire the remaining stake in mid-2027.

The terms of the transaction have not been disclosed.

Riyadh, Saudi Arabia -- Saudi Arabia's Public Investment Fund (PIF) on Monday announced its first murabaha credit facility for the sum of $7 billion as part of its medium-term capital raising strategy. The financing structure is supported by a diverse syndicate of 20 international and regional financial institutions, PIF said...

Abu Dhabi, UAE -- The United Arab Emirates (UAE) achieved a milestone in the aviation industry as it surpassed 1 million air traffic movements in 2024, said the country's General Civil Aviation Authority (GCAA). On 22nd December 2024, the one-millionth annual air traffic movement was recorded with the arrival of...

Riyadh, Saudi Arabia -- The seasonally adjusted Riyad Bank Saudi Arabia Purchasing Managers’ Index (PMI), formerly S&P Global Saudi Arabia PMI, dropped to 58.4 points in December 2024. The latest reading indicated a significant improvement in operating conditions in the non-oil private sector, while the index has remained above the...

The 10-day Qassim Truffle Festival, currently in its fourth year, features 18 booths showcasing truffles, a dedicated auction area and 32 booths for local producers.

Riyadh, Saudi Arabia -- Renowned luxury fashion designer Brunello Cucinelli shared his insights on building a global brand and the future of fashion with Saudi creatives and entrepreneurs during a special event hosted by the Cultural Development Fund (CDF) in AlUla. The event, held in collaboration with the Fashion Commission,...

The airline operated the inaugural flight from Dubai to Edinburgh.

Singapore - Oil prices extended gains on Friday after closing at their highest in more than two months in the prior session, amid hopes that governments around the world may increase policy support to revive economic growth that would lift fuel demand. Brent crude futures rose 16 cents, or 0.2...

Dubai, UAE -- Dubai International Airport (DXB) is on track to welcome 4.3 million guests in the first 15 days of the year, setting the stage for its busiest January yet. Daily traffic is projected to peak on 3rd January, with over 311,000 guests expected. With an average of 287,000...

Riyadh, Saudi Arabia - Saudi Arabia’s trade balance recorded a 30% monthly growth, achieving a surplus of SAR 20.769 billion ($5.6 billion) in October 2024, according to the Kingdom’s recently released global trade bulletin. This marks an increase of over SAR 4 billion ($1.08 billion) from SAR 15.999 billion ($4.32...

The Shariah-compliant facility spans a tenure of three years.