SAN JOSE: Fitbit is being acquired by Google’s parent company for about $2.1 billion, a deal that enables the Internet company to step back into the hotly contested market for smartwatches and health and fitness trackers.Fitbit is a pioneer in wearable technology, but it’s been shredded by that competition. The company’s market capitalization soared to…
SAN JOSE: Fitbit is being acquired by Google’s parent company for about $2.1 billion, a deal that enables the Internet company to step back into the hotly contested market for smartwatches and health and fitness trackers.Fitbit is a pioneer in wearable technology, but it’s been shredded by that competition. The company’s market capitalization soared to…
RIYADH: Gig economy companies are nothing new to the region — people have been using the likes of Zomato and Careem for many years.But while these companies continue to strive to be major international success stories, they are also having to focus on the communities they serve to secure long-term sustainability, jobs, and more importantly…
RIYADH: The world of eSports is evolving in Saudi Arabia, and its youthful audience means it could become an industry leader, according to the president of the Saudi Arabian Federation for Electronics and Intellectual Sports (SAFEIS). “We are a population of youth; 70 percent of the population is under the age of 30. Everybody hears…
RIYADH: The world of eSports is evolving in Saudi Arabia, and its youthful audience means it could become an industry leader, according to the president of the Saudi Arabian Federation for Electronics and Intellectual Sports (SAFEIS). “We are a population of youth; 70 percent of the population is under the age of 30. Everybody hears…
HELSINKI: Telecom network equipment maker Nokia has hired hundreds of engineers in Finland this year to speed up its 5G development, the company said on Wednesday. The Finnish company, rival to Sweden’s Ericsson and China’s Huawei, slashed its 2019 and 2020 profit outlook last week, saying profits would come under pressure as the company spends…
RIYADH: The imminent initial public offering (IPO) of Saudi Aramco will come at a time of the Kingdom’s choosing, Energy Minister Prince Abdul Aziz bin Salman told delegates at the Future Investment Initiative (FII) in Riyadh.“The Aramco IPO will come soon, at the right time, the right opportunity and the right decision, but it will…
RIYADH: The imminent initial public offering (IPO) of Saudi Aramco will come at a time of the Kingdom’s choosing, Energy Minister Prince Abdul Aziz bin Salman told delegates at the Future Investment Initiative (FII) in Riyadh.“The Aramco IPO will come soon, at the right time, the right opportunity and the right decision, but it will…
DUBAI/RIYADH: Gender inequality is still a worldwide issue, and while some organizations say they are trying to rectify the situation, it requires genuine social acceptance if policies surrounding female empowerment are to make any real difference, a leading Saudi executive has warned.“Samba has all the right policies supporting the inclusion of women in terms of…
CAIRO: Egypt’s first smartphone maker, SICO, said it will begin exporting its devices to Germany in November as part of its expansion plan to sell its products in Europe and Africa, its chairman told Reuters.Silicon Industries Corporation (SICO), which already exports to the Gulf and aims to start selling phones in other European countries, said…
CHINA: Tesla Inc’s third-quarter revenue tumbled 39% in the United States, its first drop in more than two years, but sales in China and other regions surged, the electric car maker’s break down of sales by geography showed on Tuesday.US sales, which account for the biggest share of the company’s total revenue, fell to $3.13…
DUBAI: Iran’s economy is expected to shrink by 9.5 percent this year, compared to a prior estimate of a six percent contraction, the International Monetary Fund (IMF) said, but real gross domestic product (GDP) growth is expected to be flat next year. “The estimate is that ... sanctions that were reintroduced last year and tightened this year,…
DUBAI: Iran’s economy is expected to shrink by 9.5 percent this year, compared to a prior estimate of a six percent contraction, the International Monetary Fund (IMF) said, but real gross domestic product (GDP) growth is expected to be flat next year. “The estimate is that ... sanctions that were reintroduced last year and tightened this year,…
PARIS: France’s LVMH on Monday confirmed it had approached US jeweler Tiffany & Co. over a possible acquisition, in what would be the Louis Vuitton owner’s biggest purchase to date.“In light of recent market rumors, LVMH Group confirms it has held preliminary discussions regarding a possible transaction with Tiffany,” the company said in a statement.…
LONDON: Toyota is the favorite Japanese car brand among Arabs, according to the YouGov poll, a result that bodes well for the company’s plans to transform from a manufacturer to a mobility provider in the region. The poll, which asked residents across the MENA region for their views on a range of questions related to Japan,…
LONDON: Toyota is the favorite Japanese car brand among Arabs, according to the YouGov poll, a result that bodes well for the company’s plans to transform from a manufacturer to a mobility provider in the region. The poll, which asked residents across the MENA region for their views on a range of questions related to Japan,…
DUBAI: The King Abdullah University of Science and Technology (KAUST) throws up some big surprises on a visit to the campus, an hour’s drive north of Jeddah. Expecting a white-hot furnace of high technology — what staff call the “deep tech heart of the Saudi Arabian economy” — you find yourself marveling at replicas of…
ROMULUS, Michigan: A contentious 40-day strike that crippled General Motors’ US production came to an end as workers approved a new contract with the company. The four-year deal will now be used as a template in bargaining with crosstown rival Ford Motor Co., the union’s choice for the next round of bargaining, followed by Fiat…
SAN FRANCISCO: The Pentagon awarded Microsoft a $10 billion cloud computing contract , snubbing early front-runner Amazon, whose competitive bid drew criticism from President Donald Trump and its business rivals.Bidding for the huge project, known as Joint Enterprise Defense Infrastructure, or JEDI, pitted leading tech titans Microsoft, Amazon, Oracle and IBM against one another.The giant…
ROMULUS, Michigan: A contentious 40-day strike that crippled General Motors’ US production came to an end as workers approved a new contract with the company. The four-year deal will now be used as a template in bargaining with crosstown rival Ford Motor Co., the union’s choice for the next round of bargaining, followed by Fiat…
