Browsing: Business

The International Monetary Fund (IMF) has revised its global growth projection for 2024, increasing it by 0.2 percentage points to 3.1%. This upward revision is attributed to the resilience of the U.S. economy and the proactive fiscal measures taken by China to

The world’s most extensive and cutting-edge power cable-laying vessel has embarked on a groundbreaking endeavor, the $3.8 billion (AED13.95 billion) collaborative project between ADNOC and Abu Dhabi National Energy Company PJSC (TAQA). The objective: to power and significantly decarbonize ADNOC’s offshore production operations.

Microsoft, a tech giant with a storied history, reached a monumental milestone today by achieving a market value of over $3 trillion. In doing so, the company has solidified its position as the second-largest publicly traded company globally, following in

Intel, a leading chipmaker, experienced a significant drop in its stock value during premarket trading on Friday. This downturn came on the heels of Intel’s announcement of its outlook for the first quarter of 2024, which fell short of analyst

In a stunning turn of events, Tesla, the electric vehicle giant, witnessed a harrowing 12% plunge in its stock value on Thursday, resulting in an astonishing $80 billion loss in market capitalization. The precipitous drop came mere hours after Tesla issued

SAP, one of Europe’s leading companies, has revealed a strategic restructuring plan involving the allocation of €2 billion ($2.2 billion) to pivot towards artificial intelligence (AI). With the aim of achieving scalable revenue growth, this transformation will impact over 8,000

In a recent announcement, eBay revealed plans to eliminate approximately 1,000 full-time positions, marking a substantial 9% reduction of its workforce. The move comes as part of the ongoing trend in the tech industry’s downsizing efforts at the start of

Netflix, the global streaming giant, experienced a remarkable surge in premarket trading as its shares skyrocketed by 10% following a stellar performance in the fourth quarter of 2023. The company reported an impressive addition of 13.1 million subscribers, surpassing Wall

In a significant gathering at the ADNOC Headquarters, UAE President Sheikh Mohamed bin Zayed Al Nahyan chaired the annual ADNOC Board of Directors Meeting. During this meeting, His Highness reiterated the UAE’s steadfast dedication to comprehensive, sustainable, and integrated economic and social development plans.

In a significant development in the cryptocurrency market, Bitcoin has witnessed a steep decline of more than 20% since the launch of the first US-based exchange-traded funds (ETFs) dedicated to the digital currency. The introduction of these ETFs has sparked caution among