Dubai, UAE -- Dubai’s real estate market recorded 180,900 transactions worth AED 522.1 ($142.1 billion) in 2024, a market report said. The report by fäm Properties said 2024 saw big leaps of 36 percent and 27 percent respectively on the previous high of 133,100 sales worth AED 411.1 billion in...

Kamco's assets under management surpass SAR 1bn.

Riyadh, Saudi Arabia – The value of assets under Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) assets—both domestic and foreign—in the Saudi financial market recorded an annual growth of 37 percent (by nearly SAR 43 billion or $11.44bn) by the end of the third quarter (Q3) of 2024. This...

From AI-powered content creation to automated feedback systems, technology is streamlining operations and improving patient care.

London, United Kingdom -- Conversational artificial intelligence (AI) tools may soon "covertly influence" users' decision making in a new commercial frontier called the "intention economy", University of Cambridge researchers warned in a paper published Monday. The research argues the potentially "lucrative yet troubling" marketplace emerging for "digital signals of intent" could,...

Cairo, Egypt -- Egypt has tested a new 10-kilometre (6.2-mile) extension to the Suez Canal as it tries to minimize the impact of currents on shipping and increase the key waterway's capacity. Two ships used the new extension on Saturday, a statement from the Suez Canal Authority said. Authority chief Osama...

The two tranches will be converted into equity at the earliest opportunity.

Mexico City, Mexico -- The growing popularity of Chinese sport utility vehicles and pickup trucks has shaken up Mexico's luxury car market, hitting sales of traditionally dominant brands such as Mercedes-Benz and BMW. According to industry experts, Mexicans are increasingly switching from traditionally dominant sedans to Chinese vehicles due to a...

Seoul was an outlier in Asia with shares plunging as South Korea's political crisis deepened with a second impeachment vote. London was flat and Paris gained.

The surge came after the auto giant announced a $7bn buyback.

It acquired an 80 percent stake in Global Medical Supply Chain.

Paris, France -- Billionaire tech mogul Elon Musk's startup xAI said it had raised $6 billion from investors in its latest funding round, as it battles stiff competition in the artificial intelligence market. The firm, whose flagship product is the Grok chatbot, garnered support from US venture capitalists, chipmakers NVIDIA and...

In Tunisia's highlands, women harvest wild herbs to earn a living, but drought is making their work harder, shrinking incomes and opportunities

The move aims to optimize financing costs.

Tokyo, Japan --Japanese auto giant Honda and its struggling rival Nissan will reportedly begin talks on a merger to boost their strength in electric vehicles, where Chinese brands are racing ahead. At the same time, Taiwanese electronics behemoth Foxconn has approached France's Renault to buy its large stake in Nissan, according...

Istanbul, Turkey -- Turkey's Pegasus Airlines said Thursday it would buy 200 Boeing 737 MAX 10 aircraft in its largest-ever order worth some $36 billion as it seeks to expand its service. "Pegasus has signed an agreement with The Boeing Company for 200 Boeing 737-10 aircraft," the low-cost airline said in...

Riyadh, Saudi Arabia – The number of employees in tourism-related activities in Saudi Arabia increased by 5.1 percent in the second quarter of 2024 compared to the same period in 2023, reaching 959,175, according to the General Authority for Statistics (GASTAT). GASTAT's Tourism Establishments Statistics bulletin for the second quarter...

It is a JV between ADNOC Drilling, SLB and Patterson UTI.

Dubai, UAE -- Coffee aficionados and industry leaders will converge in Dubai this February at World of Coffee (WOC) Dubai 2025 to participate in its first DMCC Specialty Coffee Auction, where some of the globe's rarest and most exquisite coffee beans will be up for bidding. Through a special strategic...

The Fed is widely expected to cut its key lending rate for a third straight time, reducing it by a quarter point despite a recent uptick in inflation. But there are fears it will have to slow its pace of easing next year owing to sticky inflation and bets that...

Los Angeles, United States -- Video game "Astro Bot" -- a family-friendly sci-fi adventure -- was named 2024's Game of the Year on Thursday at the annual awards considered the Oscars of the digital entertainment industry. The platform game featuring the adventures of a small space robot was also awarded "best...

The firm will invest$1bn to ramp up production in South Carolina.

Riyadh, Saudi Arabia -- Fireworks and drones depicting the iconic golden World Cup trophy lit up the sky in Saudi Arabia's capital Wednesday after FIFA confirmed the Gulf kingdom would play host to the tournament in 2034. While the news was hardly a surprise, with Saudi Arabia emerging as the sole...

Ras Al Khaimah: Ras Al Khaimah seeks to welcome 3.5 million tourists annually by 2030, says Raki Philipps, CEO of Ras Al Khaimah Tourism Development Authority. In his address at a recent forum in the northern emirate, Phillips highlighted that tourism is Ras Al Khaimah’s fastest growing sector, contributing 5% to the...

San Francisco, United States -- Google on Wednesday announced the launch of Gemini 2.0, its most advanced artificial intelligence model to date, as the world's tech giants race to take the lead in the fast-developing technology. CEO Sundar Pichai said the new model would be marking what the company calls "a...

Geneva, Switzerland -- Air passenger numbers are forecast to top five billion for the first time next year and the sector's revenues will break the trillion-dollar barrier, the global aviation body IATA said Tuesday. "Passenger numbers are expected to reach 5.2 billion in 2025, a 6.7 percent rise compared to 2024...

As the world grapples with uncertainty, the summit offers a much-needed space for cooperation and innovation, led by the Franco-Arab Chamber of Commerce (CCFA).

Dubai, United Arab Emirates -- The United Arab Emirates, home to the regional headquarters of numerous multinational companies, said Monday it would introduce a 15 percent tax rate on corporate profits from January 2025. The move will bring the UAE in line with efforts towards a global minimum corporate rate. "This...

Major stock markets diverged as investors reacted to political crises in South Korea and France, and tracked the perspectives for interest rate cuts. Gold, seen as a haven investment, gained around one percent.

Rome, Italy -- The benchmark for world food commodity prices rose in November to its highest level since April 2023, increasing by 0.5 percent from October, driven by surging international vegetable oil quotations, the Food and Agriculture Organisation of the United Nations said Friday. The FAO Food Price Index, which...

Abu Dhabi, UAE -- Startups within Hub71, Abu Dhabi's global tech ecosystem, have secured over AED 7 billion in funding, achieving revenues exceeding AED4 billion, according to Ahmad Ali Alwan, CEO of Hub71. Speaking to the Emirates News Agency (WAM) on the sidelines of Abu Dhabi Business Week, which concluded...

Under the agreement, ADNOC will supply 1m tons of LNG per year.

Donald Trump, who has vowed to make the US the 'bitcoin and cryptocurrency capital of the world' wrote 'Congratulations Bitcoiners...You're welcome'

Smaller AI models save energy, reduce costs, and enhance data security but work alongside large models for advanced solutions.

According to World Bank Group President Ajay Banga, “The new Knowledge Hub being created by the World Bank Group and Saudi Arabia is a key step forward to scale up".

An agreement for the purchase of 10% equity stake was signed in June 2024.

Washington, United States -- Elon Musk has again asked a US court to stop ChatGPT-maker OpenAI from converting into a for-profit enterprise, CNBC reported Saturday. Attorneys representing the billionaire and his AI startup, xAI, filed the injunction Friday, the financial news site reported. The injunction also requests that OpenAI be stopped...

The November 20 bombshell indictment in New York accused billionaire industrialist founder Gautam Adani and multiple subordinates of deliberately misleading international investors as part of a bribery scheme.

Riyadh, Saudi Arabia -- Saudi Arabia has set a Guinness World Record for the largest food cluster in the world with the Jeddah Food Cluster, which spans over 11 million square meters and has set a new global benchmark.The Saudi Authority for Industrial Cities and Technology Zones (MODON) announced ambitious...

The $1.5 billion deal is due to close in early 2025.

Riyadh, Saudi Arabia -- Saudi Arabia's non-oil exports surged by 22.8 percent in September, according to a report by the kingdom's General Authority for Statistics (GASTAT). The September 2024 International Trade Report said national non-oil exports, excluding re-exports, rose by 11.6 percent and the value of re-exported goods increased by...

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

India's opposition leader demands Gautam Adani's arrest; Kenya scraps airport, power deals with the Group that has significant investments in the Middle East.

For the nine-month period, net profit increased by 73.3%.

The subscription will close on 27 Nov for UAE retail investors.

San Francisco, United States - TikTok on Thursday began letting all marketers on its platform use an artificial intelligence-powered tool for generating marketing clips, becoming the latest platform to let advertisers tap into the technology. The news came with word that Getty Images will make its stockpile of pictures and video...

The company's third-quarter profit increased by 8.8 percent.

The transaction for the purchase of 737 MAX 8 jets valued at $4.9bn.

London, United Kingdom -- Bitcoin soared to a new record high on Sunday, as traders bet that Donald Trump's return to the White House will be good for the cryptocurrency. The digital currency passed $80,000 for the first time in its history shortly after 12:00 pm (1200 GMT). It has been...

The record profit is subject to new 9% corporate tax for the first time.