Author: Arabian Media staff

Microsoft began laying off around 3% of its workforce on Tuesday, cutting more than 6,000 roles. The tech giant reportedly said the new cuts would affect all locations and levels, including LinkedIn and Xbox, but the focus was on reducing managers.Now, documents seen by Bloomberg suggest that about one-third of the total roles cut were at Microsoft HQ in Redmond, Washington, and of the roughly 2,000 layoffs there, the most eliminations (817) were in the software engineering job category. It’s more than double the cuts of the next category, product management (373).Related: AI Is Writing About 30% of Code at…

INTEL, AMERICA’S semiconductor giant, has had some notable bosses. Robert Noyce, its first, invented the silicon chip that gave Silicon Valley its name. Gordon Moore, who came next, etched his place in tech lore with a prediction—Moore’s Law—that processing power would double every two years at the same cost. Andy Grove, the third boss, turned Intel into a semiconductor juggernaut, driven by the mantra that “only the paranoid survive.” The latest to join this lineage is Lip-Bu Tan, who took over in March. Source link

Ras Al Khaimah-based Gulf Pharmaceutical Industries (Julphar), one of the UAE’s biggest pharmaceutical companies, improved on its revenue and significantly strengthened its balance sheet by bringing down its debts in the first quarter of 2025. The company said its first quarter net revenue was AED359.2 million (US$97.8 million) showing a 6.7 per cent growth (9.6 per cent at constant rate) from AED336.8 million (US$91.7 million) and resulting in EBITDA growth from continuing operations of 9.0 per cent – from AED46.7 million (US$12.7 million) to AED50.9 million (US$13.86 million). EBITDA margin improved to 14.2 per cent, up from 13.9 per cent…

Coinbase said customer passwords and private keys were protected by its systems, and “at no time were any of the targeted contractors or employees able to access customer funds.” Source link

Image credit: Getty Images (Picture used for illustrative purposes) Marine fuel sales at the United Arab Emirates’ Fujairah port reached more than a year’s high in April, extending recovery for a second straight month, latest data showed. Read-UAE’s Fujairah marine fuel sales extend monthly climb Sales, excluding lubricants, totalled 669,378 cubic metres (about 663,000 metric tons) at the world’s third largest bunker port, based on Fujairah Oil Industry Zone (FOIZ) data published by S&P Global Commodity Insights late Thursday. Bunker volumes in April climbed 4.6 per cent from the previous month, while edging 4.8 per cent higher from the same…

Walmart reported solid quarterly results on Thursday, but noted that it would soon have to start raising prices. The retailer is the biggest in the U.S. with over 4,600 locations.Walmart CEO Doug McMillon said on a Thursday earnings call that Walmart wasn’t able to “absorb” higher costs “given the reality of narrow retail margins.””Even at the reduced levels, the higher tariffs will result in higher prices,” McMillon said on the call. In response, Walmart’s Chief Financial Officer John David Rainey told CNBC in an interview Thursday that tariffs were “still too high” for the company to absorb the cost. Rainey…

In the late 1940s, as the industrial capacity of Europe and Japan lay in tatters, America accounted for over half of global manufacturing output, with much of the world heavily reliant on its wares. Last year it accounted for little over a tenth, and imported $1.2trn more in merchandise than it exported—to the displeasure of its current president. Source link

Investments of more than $200bn by the UAE in US companies build on a recently announced $1.4tn spending plan. President Sheikh Mohamed bin Zayed Al Nahyan held talks with US President Donald Trump on the strategic partnership between the UAE and US, as well as ways to strengthen cooperation across various fields to serve shared interests. Donald Trump in the UAE The two leaders also discussed regional and international issues of mutual concern. The discussions took place during President Trump’s state visit to the UAE, where he was received by Sheikh Mohamed at Qasr Al Watan in Abu Dhabi. Sheikh…

Buy signals and bullish indicators are coming into focus. Source link

Image: WAM UAE President Sheikh Mohamed bin Zayed Al Nahyan held talks with US President Donald Trump in Abu Dhabi on Thursday, focusing on strengthening the longstanding strategic partnership between the UAE and the US, state news agency WAM reported. The discussions took place at Qasr Al Watan during President Trump’s state visit to the UAE, where he was officially received by Sheikh Mohamed. The leaders reviewed bilateral ties and explored ways to expand cooperation across sectors including investment, energy, advanced technology, artificial intelligence, and industry. In remarks during the meeting, Sheikh Mohamed welcomed the US President and highlighted the…