Qatar Airways has announced an increase in its flights from Doha to São Paulo, Brazil, from double daily to 18 weekly flights starting from December 1st, 2023. The increase will see the airline operating triple daily flights to the South American city four days a week, using its 777-300ER aircraft. Qatar Airways first launched its…
Intel discontinues production of crypto mining chip series ‘Blockscale’
Intel has reportedly decided to discontinue its crypto mining chip series, called Blockscale, just a year after it was launched. The company plans to stop accepting orders for the series by 20 October 2023 and cease shipment by 20 April next year. According to Reuters, the volatility in the cryptocurrency market has hurt chipmakers, including…
Netflix to crack down on U.S. password sharing by end of June 2023
In a letter to shareholders on April 19th, Netflix announced that it will be cracking down on US password sharing by the end of June 2023. The company’s second quarter of the financial year will see a broad rollout of paid sharing, which means that people who are not living in the same household but…
KIPCO to sell its 46.32% stake in Gulf Insurance Group to Fairfax Financial for $860 million
KUWAIT CITY: KIPCO – Kuwait Projects Company (Holding) – announced that it has entered into a binding implementation agreement to arrange for an off-market trade with Fairfax Financial Holdings to sell KIPCO’s 46.32% stake in Gulf Insurance Group (GIG). The price per share is KD 2 for a total of KD 263.7 million (US$ 860…
Gulf International Bank receives ratings upgrades from Fitch to ‘A-‘/Stable
MANAMA, BAHRAIN: Gulf International Bank (GIB) announced that Fitch Ratings has upgraded its Long-Term (LT) Issuer Default Ratings (IDR) to ‘A-‘/Stable from ‘BBB+’/Positive for Gulf International Bank BSC, Gulf International Bank – Saudi Arabia and Gulf International Bank (UK) Ltd. These rating actions follow a rating upgrade from Fitch on Saudi Arabia Sovereign Rating on…
Australia plans to boost electric car uptake with new emissions standards
Australia is introducing new standards to target vehicle emissions, aiming to increase the adoption of electric cars and catch up with other developed economies. Last year, only 3.8% of cars sold in Australia were electric, lagging behind Britain and Europe where electric cars accounted for 15% and 17% of sales, respectively. The national electric vehicle…
Tesla lowers prices for Model Y and Model 3 in the US for the sixth time this year
Tesla Inc (TSLA.O) has once again reduced prices for some of its Model Y and Model 3 electric vehicles in the United States, as seen on its website late on Tuesday. This is the sixth time the company has lowered U.S. prices this year, as it faces concerns about its profit margins. Ahead of its…
Samsung regains top spot in global smartphone market in Q1 2023
Samsung has once again regained its position as the top smartphone vendor globally in the first quarter of this year, slightly edging out its main competitor, Apple. This is according to a report released by market tracker Canalys on Wednesday. During the first quarter of this year, Samsung held a market share of 22%, while…
Google’s Pixel Fold to launch in June with trade-in promotions and possible free pixel watch offer
Google’s highly-anticipated Pixel Fold smartphone is expected to make its debut at the company’s annual developer conference, Google I/O, on May 10th, according to a recent report by CNBC. This foldable device, which will rival Samsung’s Galaxy Z Fold 4, is expected to feature a 7.6-inch primary screen and a 5.8-inch cover display. Pre-orders for…
Luxury people carrier Lexus LM to bring first-class mobile experience to the UK
Lexus, the luxury carmaker, is set to introduce its latest model in the UK – the Lexus LM. Described as a luxury people mover, the car is a people carrier or minivan that is favored by the rich and famous in the Far East, particularly in Japan and Hong Kong. The Lexus LM aims to…
Samsung Showcases Latest Galaxy Products at 2023 World IT Show in Seoul
Samsung is set to showcase its latest range of products at the 2023 World IT Show, which is currently taking place at COEX in Samseong-dong, Seoul, South Korea. With a huge list of products in its portfolio, Samsung aims to highlight the innovation and value provided by its Galaxy devices at the event. The exhibition…
Ardiden Limited appoints Gregory Romain to the role of CEO & MD
SYDNEY, AUSTRALIA: Ardiden Limited announced the appointment of experienced mining executive, Mr Gregory Romain, to the role of Chief Executive Officer and Managing Director of the Company, effective 24 April 2023, or earlier by agreement. Gregory Romain will be based in Toronto, Ontario, which provides him efficient and timely access to oversee Ardiden’s 100%-owned Pickle…