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AD Ports Group, CMA CGM to develop multipurpose terminal in Pointe Noire

The CMA CGM Group operates 60 port terminals across 30 countries, supporting Central and West African supply chains through its fleet and infrastructure


Trump's policies to have 'indirect effect' on UAE, Mena economies; here's why

Some analysts said that oil-exporting GCC countries could see a boost in oil demand if the US applies tariffs on energy products from Canada and Mexico


EV buyers shouldn't get government incentives, Volvo CEO says

The Volvo Cars boss Jim Rowan echoed Elon Musk, telling Business Insider he disagreed with the idea that governments should subsidize the EV industry.


Microgreens market set for a major boost

UNS Vertical Farms leads mini-green revolution in UAE


Sam Altman swears to judge that Elon Musk's claim of OpenAI restrictions on investors is false

Altman responds to Musk's claim in a federal racketeering lawsuit that OpenAI investors must agree not to invest in rivals: "That is false."


Salesforce, Workday Are Hiring More Overseas to Save Cash

Software companies are under pressure to invest in new artificial intelligence capabilities without denting profits. One increasingly popular strategy to keep costs low is to shift hiring outside the US.


Lightspeed Tumbles as It Opts to Stay Public, Buy Back Stock

Lightspeed Commerce Inc., a maker of payment-processing software, said it plans to keep operating as a publicly traded company and looks to make small acquisitions. The shares slid as much as 18% in Toronto after the open — the steepest drop in a year — before paring those losses.


Exclusive-Pernod Ricard considers sale of Mumm champagne, sources say

By Abigail Summerville and Amy-Jo Crowley NEW YORK (Reuters) - Pernod Ricard is exploring a sale of its champagne brand G.H. Mumm, according to five sources familiar with the matter, as it looks to focus on premium labels in its portfolio. The French spirits company behind Absolut Vodka and Jameson Irish whiskey is working with investment bank Rothschild & Co on the possible divestiture, that


Managing the data traffic surge: Challenges and AI solutions

AI plays a crucial role in aggregating and interpreting complex data models, which are becoming more intricate as networks grow


India’s central bank delivers first rate cut in nearly 5 years

India's benchmark 10-year bond yield was up five basis points at 6.70 per cent after the announcement


UAE: Wynn Al Marjan in RAK secures Dh8.8 billion loan as building rises 140 feet in 100 days

A Commercial Gaming Facility Operator licence was awarded to the developer of Wynn Al Marjan Island resort, it was announced in October 2024


Cement Maker Titan’s IPO for US Unit Raises $384 Million

Titan America SA and its owner Titan Cement International SA raised $384 million in an initial public offering, pricing its shares within a marketed range.


3M India posts smaller third-quarter profit as inflation pressures margins

(Reuters) - Diversified products maker 3M India reported a 16% fall in its third-quarter profit on Friday, as inflationary pressures pushed costs higher, hurting margins. The company, whose products range from "Post-it" notes to power tools, said its profit after tax fell to 1.14 billion rupees ($13.05 million) for the quarter ended December 31, compared to 1.35 billion rupees a year ago.


Honeywell to Break Up After Pressure From Activist Elliott

Honeywell International Inc. will split into separate publicly traded companies following pressure from an activist investor, the latest in a line of industrial conglomerates seeking a more streamlined portfolio.


Veritas Is Said in Talks to Acquire Data Firm Dun & Bradstreet

Veritas Capital Fund Management is in talks to acquire Dun & Bradstreet Holdings Inc., one of Wall Street’s oldest data and analytics providers, according to people familiar with the matter.


Trump Immigration, Tariff Rhetoric Rattles India Auto Suppliers

US President Donald Trump’s threats of steep tariffs on Mexico and his planned curbs on immigration present a two-pronged threat to Indian auto parts suppliers and their ambitions to expand in their biggest export market.


Oil set for third weekly loss running as trade tariffs raise concerns about crude demand growth

Oil prices inched up on Friday but were still on track to record a third consecutive weekly loss, as prospects of a renewed trade war between the US and China raised concerns about crude demand growth. Brent, the benchmark for two thirds of the world’s oil, was trading 0.65 per cent higher at $74.80 a barrel at 11.04am UAE time. West Texas Intermed...


European developer debuts in the UAE with Dh500 million project

Mr. Eight Development’s Villa del DIVOS on Dubai Islands will be handed over in Q1 2027


White & Case Hires Activism, M&A Lawyers from Cadwalader

White & Case LLP has hired a team of shareholder activism lawyers led by Richard Brand from Cadwalader, Wickersham & Taft LLP.


Northpointe Bancshares targets $595 million valuation in 2025's first US bank IPO

(Reuters) -Northpointe Bancshares is targeting a valuation of up to $595 million in its initial public offering in the United States, the private equity-backed community bank said on Friday. The Grand Rapids, Michigan-based community bank plans to sell 7.4 million shares priced between $16 and $18 each, while some existing shareholders are also offering 1.5 million shares in the price band. The


Bain to buy Japan's Mitsubishi Tanabe Pharma for $3.4 billion

By Anton Bridge and Kane Wu TOKYO (Reuters) -U.S. private equity firm Bain Capital has bought Mitsubishi Tanabe Pharma in a deal worth 510 billion yen ($3.4 billion), saying it was encouraged by prospects of regulatory change for Japan's drug industry. The Osaka-based firm has a pipeline of drugs relating to the central nervous system, immuno-inflammation and oncology. It has operations in more


Under pressure to boost sales, Gucci parts ways with design chief De Sarno

Replacement to be announced in due course; Gucci revenues dropped 25% in Q3, dragging down the group


How will raging trade war impact UAE’s Dh3tr non-oil trade?

The UAE has successfully positioned itself as a global trade hub, with non-oil trade accounting for a substantial portion of its GDP


Samsung Gulf posts 20% rise in Galaxy S orders amid ‘challenging’ start to AI smartphone era

Samsung Gulf Electronics has posted a 20 per cent annual increase in orders for its Galaxy S flagship phones, amid a "challenging" period of pushing the adoption of artificial intelligence in smartphones, a senior executive has said. Gulf orders for the Galaxy S25 series, launched at the South Korean company's Unpacked event last month, remained st...


Startup Rapyd Faces Steep Valuation Cut in New Deal Talks

The Stripe competitor is in talks for a funding round that would slash its valuation to $3.5 billion.


Sporting legends to join new SportsTech stage at LEAP 2025

SportsTech is one of two new content stages for the 2025 event, alongside Tech Arena


Amazon, Like Microsoft, Says It Can’t Keep Up With AI Demand

Amazon.com Inc. warned investors that it could face capacity constraints in its cloud computing division despite plans to invest some $100 billion this year, with most of the money going toward data centers, homegrown chips and other equipment to provide artificial intelligence services.


IMF board to consider new Egypt loan package in coming weeks

The International Monetary Fund plans to put forth a new loan agreement for Egypt before its executive board in the coming weeks, a representative for the Washington-based lender said on Thursday. “A policy package of reforms will be considered by the fund's executive board, along with the fourth review of programme,” Julie Kozack told reporters du...


Amazon profits double, but cautious outlook disappoints

E-commerce giant Amazon reported Thursday its fourth-quarter net income nearly doubled to $20 billion, driven by strong holiday sales, but its outlook for the coming quarter came in less than hoped for by analysts. But looking ahead, Amazon expects first-quarter 2025 net sales between $151.0 billion and $155.5 billion, representing growth of five to nine percent, which was less than predicted by analysts.


Affirm soars as strong holiday shopping propels BNPL lender to top estimates

(Reuters) - Affirm shares jumped 16% in premarket trading on Friday, after the buy now, pay later lender posted a surprise quarterly profit on the back of a strong holiday shopping season and forecast an upbeat annual revenue. Retailers offered discounts on everything from apparel to electronics to lure budget-conscious shoppers, while online sales remained strong. Gross merchandise volume (GMV)


Yum Brands Sales Turn Positive, Driven By Taco Bell Results

Yum! Brands Inc. shares had their biggest gain in almost five years after sales surpassed expectations, buoyed by growth at the Taco Bell fast-food chain.


BPER CEO says Italy's M&A wave prompted defensive bid for Pop Sondrio

By Andrea Mandala and Valentina Za MILAN (Reuters) -BPER Banca's CEO on Friday said its 4.3 billion euro ($4.5 billion) all-share takeover bid for smaller peer Banca Popolare di Sondrio was a defensive move prompted by a raft of merger proposals across Italy's banking industry. Mid-sized Italian banks like BPER have long been seen as candidates for consolidation. Previously, BPER had explored a


Dubai GDP grows by 3.1% in first nine months last year

Dubai's economy grew by 3.1 per cent in the first nine months of last year, compared to the same period in 2023, reaching Dh339.4 billion, with growth largely driven by strides in several sectors. The wholesale and retail trade sector reached Dh83.12 billion in the first three quarters of last year, a growth rate of 2.9 per cent. The transport and ...


Britain's L&G sells US protection unit to Japanese insurer for $2.3 billion

By Amy-Jo Crowley, Iain Withers and Yadarisa Shabong LONDON (Reuters) -Legal & General said on Friday it would sell its U.S. protection business to Japan's Meiji Yasuda for $2.3 billion in cash and said the Japanese firm would take a 5% stake in the British insurer, in the biggest strategic move so far under CEO António Simões. The group's shares gained 8% in early trading. They have broadly


Amtrak to Roll Back DEI Resources, Enforce 4-Day Office Mandate

Amtrak is rolling out a new in-office mandate and will stop dedicating resources to advance diversity, equity and inclusion programs and policies, a company spokesperson confirmed Thursday.


Companies wary of new US rule scramble to file mergers by Friday, lawyers say

By Jody Godoy (Reuters) - Companies are racing against the clock this week to notify antitrust agencies about pending deals before a new, more stringent merger filing rule passed during President Joe Biden's administration comes into effect, lawyers said this week. The U.S. Federal Trade Commission rule taking effect after 5 p.m. on Friday is estimated to triple the average workload to gain


Northpointe Bancshares targets up to $595 million valuation in US IPO

(Reuters) - Northpointe Bancshares is targeting a valuation of up to $595 million in its initial public offering in the United States, the private equity-backed community bank said on Friday. The Grand Rapids, Michigan-based community bank plans to sell 7.4 million shares, while some existing shareholders are offering 1.5 million shares priced between $16 and $18 each, aiming to raise a total of


Super Bowl streamer Tubi is free, owned by Fox — and very popular with Black audiences

Tubi will stream the Super Bowl this year. It's owned by Rupert Murdoch's Fox — and also has a bigger share of Black viewers than any other streamer.


New food assessment system in UAE: See details here

Food safety is a key pillar of the UAE’s National Food Security Strategy and plays a crucial role in protecting public health


Pizza Hut is winning big in China by betting on $7 pizzas

Its parent company, Yum China, reported on Thursday that sales of pizzas under $7 rose 50% in 2024.


Billionaire Bettencourt Meyers to Retire From L’Oreal Board

Francoise Bettencourt Meyers, heir to the L’Oreal SA fortune and Europe’s richest woman, will retire from the board later this year, with the next generation of family members taking on more responsibility for the cosmetics company’s governance.


India's Mahindra & Mahindra posts 19% rise in quarterly profit on strong SUV demand

(Reuters) -Indian automaker Mahindra & Mahindra reported a 19% rise in quarterly profit on Friday, driven by strong sport utility vehicles sales and said it would separately account and report the low-margin earnings of its electric SUVs from the current quarter. The 'Scorpio' SUV manufacturer reported a profit of 29.64 billion rupees ($339 million), up from 24.90 billion rupees a year before.


Exclusive-VW's SEAT boss warns Spanish jobs at risk if China-made EV tariff is not lowered

By Victoria Waldersee BERLIN (Reuters) - Volkswagen's SEAT, the Spanish subsidiary of Europe's largest carmaker, will be forced to cut output and lay off around 1,500 workers if the EU does not lower its tariff on the brand's China-made electric car by the end of March, its CEO told Reuters. Since October, when the European Union slapped tariffs on all China-made EVs sold in Europe, SEAT S.A. -


France, UAE agree to develop 1 gigawatt AI data centre

The two countries have agreed to a framework accord for a 1 gigawatt data centre dedicated to artificial intelligence


Mobile-first platforms change UAE media landscape

Yalla TV personifies evolution in the country’s media


UK scraps red tape to make it easier to build nuclear power plants

The UK is reforming planning rules to make it easier to build new nuclear power plants. The measures will pave the way for small modular reactors to be built for the first time in the country, which ministers say will help to deliver clean, secure and more affordable energy. Prime Minister Keir Starmer said "archaic" rules will be dropped in a bid ...


India's Ola Electric posts wider loss on discounts, improving service quality

(Reuters) -India's top electric two-wheeler maker Ola Electric reported a wider quarterly loss on Friday, hurt by heavy discounts it offered to fend off rising competition and as it spent on improving the quality of service at its workshops. The SoftBank-backed firm reported a loss of 5.64 billion rupees ($64.51 million) in the October-to-December quarter, compared with a loss of 3.76 billion


L'Oreal shares drop after China drags down quarterly sales

PARIS (Reuters) - Shares in French cosmetics giant L'Oreal fell by more than 4% in early trade on Friday after the company posted its slowest quarterly sales since the height of the pandemic, dragged down by weak Chinese demand. Trading 3.9% lower at 0808 GMT, L'Oreal was the second-biggest faller on European equity markets. The 2.5% rise in fourth-quarter sales was a slowdown from the 3.4% rise


Adnoc Gas delivers $5 billion in net revenue for 2024

Adnoc Gas on Thursday announced it and its subsidiaries delivered a record $5 billion in earnings for the 2024 fiscal year, a 13 per cent year-on-year increase. The company also recorded $1.38 billion in fourth-quarter income, its highest three-month income since launching its IPO. Adnoc Gas said its adjusted net income increased by 13 per cent yea...


London Mayfair mansion linked to Napoleon III goes on sale for £14.5m

A six-bedroom mansion in the upmarket London neighbourhood of Mayfair where exiled French emperor Napoleon III was entertained in the mid 19th century is up for sale. The grand five-storey Georgian townhouse, with its cream stucco facade and integrated mews, was originally built in 1753 and is now on the market for £14.5 million ($18.1 million). It...