Sydney, Australia - Abu Dhabi's state-owned oil company is leading a takeover bid for Australian energy group Santos, valuing it at US$18.7 billion, Santos said Monday. Santos's board said it plans to unanimously recommend the Abu Dhabi National Oil Company's offer to shareholders if it can agree on the takeover...

New York, United States -- The global commercial aviation fleet will stand just under 50,000 planes in 2044, with most built over the next 20 years, according to a Boeing forecast released Saturday. The global fleet will nearly double to 49,600, a bit below Boeing's prior annual outlook, the company...

Copenhagen, Denmark -- The Saudi Export-Import Bank (Saudi EXIM) participated as a sponsor of the TXF Global 2025 conference held in Copenhagen, Denmark, from June 10 to 12, aiming to enhance the bank’s role in global trade and establish strategic partnerships to support the growth and competitiveness of Saudi non-oil...

New York, United States -- ChatGPT-maker OpenAI has enlisted the legendary designer behind the iPhone to create an irresistible gadget for using generative artificial intelligence (AI). The ability to engage digital assistants as easily as speaking with friends is being built into eyewear, speakers, computers and smartphones, but some argue...

Washington, United States -- Chip giant Micron Technology on Thursday said it was expanding its domestic investment plan to $200 billion as its seeks to boost US semiconductor manufacturing, with the backing of the Trump administration. The move, aimed at strengthening America's domestic chip supply chain, represents an additional $30...

Paris, France -- Drawing high-powered tech CEOs and a presidential visit, the Vivatech trade fair opened in Paris on Wednesday with a bang as Nvidia boss Jensen Huang announced a major push into Europe. "In just two years we will increase the amount of AI computing capacity in Europe by...

Trump said on his Truth Social platform that China would supply rare earth minerals and magnets -- vital elements for American industries -- while Washington would allow Chinese students to remain in US universities.

Sharjah, UAE --  Sharjah's real-estate market during May 2025 recorded a total of 8,415 transactions worth AED 5.5 billion.  Of these, 1,574 were sales transactions, accounting for 18.7% of the total, a clear indicator of increasing demand for real estate. The total traded area of sales transactions reached 13.2 million...

Abu Dhabi, UAE -- ADNOC Gas announced Tuesday it has made a final investment decision on the first phase of its landmark Rich Gas Development (RGD) Project, awarding $5 billion in contracts to kickstart its largest-ever capital investment. The massive project is central to the UAE's strategy to boost liquid...

Riyadh, Saudi Arabia -- Saudi Arabia’s first quarter real Gross Domestic Product (GDP) grew by 3.4 percent year-on-year, according to the latest report from the General Authority for Statistics (GASTAT), primarily driven by a 4.9 percent surge in non-oil activities and a 3.2 percent rise in government activities. GASTAT’s data...

The deal makes Alphawave the latest tech company to depart London.

Dubai, UAE -- The Middle East and North Africa (MENA) region has kicked off 2025 with a record-breaking first quarter in mergers and acquisitions (M&A), as deal value soared to $46 billion—a 66% increase year-on-year (YoY). According to Saudi M&A Consulting, this robust growth reflects rising investor confidence, favorable regulatory...

New York, United States -- US airlines and aerospace manufacturers insist they have no use for tariff protections, warning that the proposed Trump administration levies could eat into the healthy trade surplus the sector has enjoyed for more than 70 years. At the request of President Donald Trump, Commerce Secretary...

Apple will showcase plans for its coveted devices and the software powering them at its annual Worldwide Developers Conference (WWDC) kicking off Monday in Silicon Valley.

Tokyo, Japan -- Gamers finally got their hands on Nintendo's new Switch 2 on Thursday, the console that could score record early sales for the Japanese "Super Mario" creator. The device, which features a bigger screen and more processing power, is an upgrade to the Switch that became a global...

The 10-year contract was signed with Centrica.

Sales to countries considered part of the Abraham Accords -- the United Arab Emirates, Bahrain and Morocco who signed groundbreaking normalization agreements with Israel in 2020 -- appeared to have sharply risen from 3 percent in 2023 to 12 percent.

Geneva, Switzerland – The World Economic Forum today released a new report examining how emerging technology combinations are reshaping industries and how business leaders can harness these insights to guide investment, build capabilities and position ecosystems strategically. It also offers valuable insights to policy-makers by highlighting how emerging technologies intersect...

Dubai, UAE – The Middle East’s tourism sector is poised for unprecedented expansion, with a new report predicting a 50 percent surge in travel spending by 2030, reaching nearly $350 billion. The ATM Travel Trends Report 2025, compiled by Tourism Economics for Arabian Travel Market (ATM), highlights the region’s rapid...

Washington, United States -- Facebook owner Meta announced Tuesday a 20-year nuclear energy agreement with US-based Constellation Energy to secure power from a nuclear plant in the state of Illinois. The investment marks big tech's latest move to meet surging electricity demand from artificial intelligence, with Microsoft, Google and Amazon...

New Delhi, India -- Airlines on Monday revised down their traffic and profit forecasts for 2025, citing "headwinds" for the global economy, with industry chiefs warning of the risk of increased tariffs impacting the sector. The International Air Transport Association (IATA) estimates fewer than five billion air journeys will take...

New Delhi, India -- Indian airline IndiGo said on Sunday it had signed an order for 30 more Airbus A350-900s, bringing its shopping list for the widebody aircraft from the European aircraft manufacturer to 60. "We are placing a firm order for 30 Airbus A350-900s," said Pieter Elbers, the CEO...

London, United Kingdom -- US President Donald Trump's tariffs, his call to "drill baby drill" and especially a decision by OPEC+ to hike crude output quotas have oil prices trading at lows not seen since the Covid pandemic. That is good news for consumers but not so much for producers,...

From the first video game consoles of the 1970s to the Nintendo Switch 2 due out on Thursday, hundreds of millions have been sold to players eager to immerse themselves in their favorite franchises

The generative AI frenzy unleashed by ChatGPT in 2022 has propelled a handful of venture-backed companies to eye-watering valuations.

Washington, United States - Google on Friday urged a US judge to reject the notion of making it spin off its Chrome browser to weaken its dominance in online search. Rival attorneys made their final arguments before US District Court Judge Amit Mehta, who is considering "remedies" to impose after...

The agreement was sealed at the presidential palace in Damascus in the presence of interim President Ahmed al-Sharaa and US ambassador Thomas Barrack. It aims to generate 5,000 megawatts. Syrian Energy Minister Mohammad al-Bashir called it a "historic moment" and a "turning point" for the country's shattered infrastructure.

 Dubai, UAE -- The Middle East and North Africa (MENA) region has kicked off 2025 with a remarkable surge in mergers and acquisitions (M&A) activity, according to the latest EY MENA M&A Insights 2024 report. The first quarter of the year saw a substantial 31 percent increase in deal volume,...

Riyadh, Saudi Arabia -- Saudi Arabia's tourism sector is poised for an unprecedented summer season, with the official launch of the "Saudi Summer 2025" program, themed "Colour Your Summer." The initiative, unveiled today by Ahmed Al-Khateeb, Minister of Tourism and Chairman of the Board of the Saudi Tourism Authority (STA),...

The contract for two jack-up rigs begins in the second quarter.

Sharjah, UAE – Exhibitors at the 55th Watch and Jewelry Middle East Show, scheduled from May 28 to June 1, are set to unveil impressive curation of luxury gold jewellery and diamond collections, aiming to achieve Guinness World Records. Organized by Expo Centre Sharjah with support from the Sharjah Chamber...

Abu Dhabi, UAE -- ADNOC Group's publicly traded portfolio companies combined to deliver over $2.3 billion (AED8.4 billion) in first quarter net profit. Each of the six companies delivered strong financial results in the first quarter, alongside clear progress on strategic priorities aimed at driving profitable growth. ADNOC Distribution delivered...

Abu Dhabi, UAE -- Real estate transactions across five emirates in the UAE surged to over AED 239 billion ($65 billion) in the first quarter of 2025, underpinned by investor confidence, flexible regulations, and expanding project pipelines, official data showed. More than 94,719 sales, purchase, and mortgage deals were recorded...

Washington, United States -- US President Donald Trump on Friday threatened Apple and other smartphone manufacturers with a 25 percent tariff unless their devices are built in the United States. Trump initially said the tariff would apply only to Apple -- an unusual move to single out a specific company...

San Francisco, United States -- Anthropic launched its latest Claude generative artificial intelligence (GenAI) models on Thursday, claiming to set new standards for reasoning but also building in safeguards against rogue behavior. "Claude Opus 4 is our most powerful model yet, and the best coding model in the world," Anthropic...

Washington, United States -- US President Donald Trump on Friday threatened Apple with a 25 percent tariff if the iPhones the company sells in the United States are not manufactured locally. In a post on Truth Social Trump said he had "long ago informed Tim Cook of Apple that I...

Riyadh, Saudi Arabia -- Saudi Arabia's Minister of Tourism, Ahmed Al-Khateeb, has officially unveiled TOURISE, a groundbreaking global platform set to transform the future of the tourism industry. The inaugural TOURISE 2025 event will take place in Riyadh from November 11-13, bringing together public and private sector leaders, experts, and...

Beijing, China -- The United States has taken aim at China's Huawei over the cutting-edge chips powering artificial intelligence (AI), part of a shifting technology dispute between the two largest economies. AFP looks at how the US-China chip war is evolving under US President Donald Trump: Focus back on China...

Beijing, China -- Tech giant Xiaomi unveiled a new advanced in-house mobile chip on Thursday, a significant milestone for the company as Chinese firms shift resources towards home-grown technology against a bleak international trade backdrop. Xiaomi, which sells goods from smartphones to vacuum cleaners and electric vehicles (EVs), is one...

Abu Dhabi, UAE -- The Ministry of Finance (MoF), in its capacity as the issuer and in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and payment agent, announced the successful completion of the May 2025 auction of UAE Dirham-denominated Islamic Treasury Sukuk (T-Sukuk) amounting to...

San Francisco, United States -- As Google races to lead in artificial intelligence, it faces the challenge of making sure the technology doesn't slow its profit-pumping advertising engine. The internet giant is dabbling with ads in its new AI Mode for online search, a strategic move to fend off competition...

London, United Kingdom -- British clothes-to-food retailer Marks and Spencer on Wednesday said a cyberattack affecting its online service is set to last through to July and cost the group £300 million ($404 million). Marks last week revealed that some personal data of its customers had been stolen in a...

This is a 30% YoY increase over Q1 2025.

Net income rose to $36.4 million, a 17% YoY increase.

From immersive local experiences to AI-powered personalization, Muzzammil Ahussain, CEO of Almosafer, shares key trends shaping the future of travel.

Taipei, Taiwan -- Nvidia boss Jensen Huang announced plans for Taiwan's first "AI supercomputer", as he showcased on Monday the company's latest advances in artificial intelligence. Global chip giants have gathered in Taiwan for the island's top tech expo, Computex, as the sector grapples with the impact of US tariffs...

This was a record 28% jump in annual net profit.

Abu Dhabi, UAE --  Emirates Global Aluminum, the largest ‘premium aluminum’ producer in the world, today announced the progression of plans to develop the first new primary aluminum production plant in the United States of America since 1980. The plant is expected to have a production capacity of 600 thousand...

The S&P 500 has risen the last four sessions, extending the positive momentum after last weekend's trade talks resulted in both the United States and China lowering tariffs on each other for 90 days.

Washington, United States -- The World Bank on Friday said it would restart operation in Syria following a 14-year pause, after Saudi Arabia and Qatar had paid off the country's outstanding debts. The Bank's operation in Syria were halted when the civil war broke out in 2011, preventing the country...