Samsung Electronics recently forecast a record-breaking Q2 quarterly operating profit and a revenue of more than KRW171 trillion ($113 billion). This increase has been driven by the global demand for AI memory chips. The company expects average operating profit of KRW89.4 trillion compared with KRW4.7 billion in Q2 2025. This is a 19-fold increase, as demand for semiconductors driven by the AI boom continues to outstrip supply. Samsung’s operating profit has now risen to record levels for three quarters in a row. Revenue is forecast to be more than double the KRW74.6 trillion recorded in Q2 2025. Samsung is due…
Author: Editorial Team
RIYADH — Saudi Arabia’s Bankruptcy Commission said the opening of bankruptcy proceedings and their publication in the Bankruptcy Register do not necessarily mean a business will exit the market, cease operations or be liquidated. The commission said bankruptcy procedures provide a legal framework offering multiple options to address a company’s financial position, allowing viable businesses to restructure, resume operations and continue contributing to the Kingdom’s economy. According to the commission, 60 bankruptcy-related announcements were published on its official website in June 2026, including 30 notices announcing the opening of bankruptcy proceedings. The remaining announcements comprised court decisions, notices and other…
ABU DHABI, 8th July, 2026 (WAM) — The UAE has joined the International Science Council (ISC) for the first time, with the Advanced Technology Research Council (ATRC) appointed as its national representative, marking a significant step in the country’s engagement with the global scientific community and policy dialogue. The ISC is the largest independent, non-governmental international organisation focused on bringing together more than 250 scientific bodies worldwide, including national science academies, research councils, and international scientific unions and associations. Together with the World Federation of Engineering Organisations, the ISC serves as a co-convenor of the Scientific and Technological Community Major…
The offices of Alhind Global Services in various parts of the UAE wear a deserted look as the rollout of the Indian consular services drag on due to a legal battle. As of July 1, these offices should have been bustling with a flurry of activity. However, the issue is delaying the operator’s takeover of the outsourcing services. A visit to the company’s CPV application centre in UW mall showed an empty office where staff ran simulations of token numbers and waiting times. Waiting chairs, as well as more than half the staff desks, lay empty at the largest of…
RIYADH — The National Center for Environmental Compliance has issued 557 violations worth more than SR16 million for breaches of the procedural guide for dust control in Riyadh. The violations were issued as part of efforts to improve environmental compliance and air quality around construction projects within the city’s urban boundaries. Fawaz Al-Mujathil, director of the center’s Riyadh branch, said the campaign was launched in February in cooperation with the Royal Commission for Riyadh City and the Riyadh Municipality. He said field teams carried out more than 3,000 inspections of construction projects, during which several sites were found to be…
ABU DHABI, 7th July, 2026 (WAM) – UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan today received the winners, working teams, and organising committees of the Open Masters Games Abu Dhabi 2026, accompanied by His Highness Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Development and Fallen Heroes’ Affairs and Chairman of the Higher Organising Committee for the Open Masters Games Abu Dhabi 2026. His Highness the President congratulated the winners and engaged in cordial conversation with them. He stated that their outstanding participation reflected a strong awareness of the importance…
Micron Technology and the Ford Motor Company recently signed a long-term agreement for the supply of memory chips for next-generation vehicle production. Micron Technology noted the Strategic Customer Agreement (SCA) with Ford comes as it increases output of key products tailored to the long product lifecycles of the automotive segment. It also pointed to an ongoing strategy to expand local manufacturing for customers in the sector, including through advanced Dynamic Random-Access Memory (DRAM) production in the US state of Virginia. Micron Technology chair, president and CEO Sanjay Mehrotra said “as vehicles become more intelligent and data-intensive, the importance of advanced…
ANKARA — U.S. President Donald Trump said Wednesday that the United States will grant Ukraine a license to manufacture Patriot air defense systems. Speaking at the NATO summit in Ankara, Trump said the United States would provide Ukraine with the know-how needed to produce the advanced air defense system domestically. “We’ll give them the right to make Patriots. We’ll show them how to do it,” Trump said. “I think they can produce them pretty quickly.” The announcement represents a policy reversal, as Washington had previously resisted allowing foreign production of the Patriot system, which Ukraine has repeatedly requested since Russia…
KUWAIT, 8th July, 2026 (WAM) — The UAE topped the list of Arab destinations for foreign direct investment (FDI) in 2025, attracting US$48.2 billion, representing 40.4 percent of the total. It also ranked first in the Arab world and 17th globally in Dhaman’s 2025 Composite Investment Climate Index, improving by two places compared with the 2024 index. According to UNCTAD estimates cited in Dhaman’s annual report, FDI inflows to Arab countries fell 10 percent to US$119.3 billion in 2025. More than 80 percent of total inflows were concentrated in three Arab countries, while the region’s share of global FDI declined…
[Editor’s Note: Follow Khaleej Times live blog after the signing of the MoU between the US and Iran.] The UAE has strongly condemned the Iranian attack targeting the Saudi-flagged crude oil tanker ‘Wedyan’ as it transited the Strait of Hormuz. The US Central Command earlier said that it renewed attacks on Iran in retaliation for strikes on three commercial vessels transiting the strait, including Marshall Islands-flagged M/T Al Rekayyat, Saudi Arabia-flagged M/T Wedyan and Liberian-flagged M/T Cyprus Prosperity. Iran’s Revolutionary Guards said it struck 85 targets in Bahrain and Kuwait after US retaliatory strikes on the Islamic Republic on Tuesday. Stay…