Author: Arabian Media staff
When “Satoshi Nakamoto”—pseudonym for the person who released the whitepaper that introduced the concept of Bitcoin in 2008—launched the Bitcoin craze, it’s likely that few if any investors predicted that by 2025, public companies would collectively hold over $103 billion worth of bitcoin. Over the last five years, public companies have accelerated their stockpiling of crypto, particularly Bitcoin, with the number of Bitcoin (BTC) held by these corporations up 159% from the previous year. As a result, these corporations represent a significant portion of today’s BTC whales. These companies, known as Bitcoin proxy companies, or “proxies,” by crypto natives, are…
Images: Supplied Saudi Arabia’s OceanQuest is turning curiosity into action. The newly-launched not-for-profit foundation, based at KAUST in Thuwal, aims to redefine deep-ocean exploration and elevate Saudi scientific leadership on the global stage. Its mission: accelerate discovery, pioneer breakthrough technologies, and foster international cooperation, all while engaging the public and nurturing the next generation of marine scientists. At the helm is Professor Dr Martin Visbeck, a renowned oceanographer with nearly 40 years of experience. His career spans high-impact ocean-climate research, leadership in international initiatives like the UN Decade of Ocean Science, and a strong focus on using tech and collaboration…
Dubai skyline Barco Developers, a newly established UAE-based real estate company founded by industry veterans with over 25 years of experience in real estate, finance, consulting, F&B, and manufacturing, has announced its official entry into the UAE property market. The developer plans to deliver more than 2 million square feet of low- to mid-rise residential communities across Dubai and Ras Al Khaimah. With a track record of successful real estate and investment projects across Europe and North America, Barco Developers is now bringing its global expertise to the UAE. Its vision is to create value-driven communities where comfort and technology…
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Image credit: Dubai Media Office/Website Dubai’s Roads and Transport Authority (RTA) has introduced a series of Quick Win improvements aimed at easing traffic congestion from Ras Al Khor towards Al Meydan Street Interchange. The main upgrade involves widening the right-turn lane by increasing its capacity from two to three lanes. Scheduled for completion by August 10, the enhancement is set to significantly improve traffic flow between Ras Al Khor Industrial Area and Nad Al Sheba. It will also ease access for vehicles traveling to Al Meydan Street Interchange and adjacent communities, a Dubai Media Office report said. Image credit: Dubai…
Image credit: Getty Images OpenAI launched on Thursday, August 7, its GPT-5 artificial intelligence model, the highly anticipated latest installment of a technology that has helped transform global business and culture. OpenAI’s GPT models are the AI technology that powers the popular ChatGPT chatbot, and GPT-5 will be available to all 700 million ChatGPT users, OpenAI said. Read-OpenAI rolls out new shopping features with ChatGPT search update The big question is whether the company that kicked off the generative AI frenzy will be capable of continuing to drive significant technological advancements that attract enterprise-level users to justify the enormous sums…
Image: Supplied DP World has expanded its automotive logistics capacity at Jebel Ali Port with the launch of a 2.6 million square foot vehicle storage yard at Terminal 4, as Dubai moves to meet rising demand in global vehicle trade. The upgrade adds 13,000 car equivalent units (CEUs), increasing total storage capacity at the port to 75,000 CEUs. The move strengthens Dubai’s role as the region’s top automotive trade hub. The expansion also includes an 800-metre quay, capable of handling three roll-on/roll-off (RoRo) vessels at the same time. RoRo operations have now been relocated from Terminal 1 to the newly…
Image: Supplied Parkin, Dubai’s largest paid public parking operator, posted a sharp rise in second-quarter results, with total revenues, EBITDA and net profit all climbing sharply year-on-year. Strong financial performance in Q2 The company booked revenues of Dhs320m in Q2, up 56 per cent from Dhs205.5m in Q2 2024. EBITDA surged 41 per cent to Dhs189.3m, yielding a margin of 59 per cent. Net profit also jumped 56 per cent to Dhs 148.4m. The company added about 11.1k new parking spaces (a 6 per cent increase), boosting its portfolio to 211.5k spaces. Parking transactions climbed 15 per cent to 33.2 million, while seasonal card sales hit a…
Image: Getty Images A 3.5-magnitude earthquake was recorded in the UAE during the early hours of Friday, August 8, 2025, the National Centre of Meteorology (NCM) announced. According to the NCM, the quake struck at 12:00 a.m. UAE time in Al Sila’a, Abu Dhabi, at a depth of three kilometres. The tremor was mildly felt by some residents but caused no damage or impact, the centre confirmed. Source link
Image: Aramex Aramex reported group revenues of Dhs3.06bn for H1 2025, marking a 1 per cent year-on-year increase as strong performance in domestic and regional logistics offset continued declines in international express shipments. The logistics and transportation company noted that customer behaviour is shifting towards regional and local solutions, a trend that has reshaped its business mix. Domestic Express revenues rose 13 per cent year-on-year in H1, Logistics jumped 22 per cent, and Freight Forwarding increased 8 per cent, while International Express revenue dropped 15 per cent over the same period. Profitability squeezed by product mix shift The shift in…