OpenAI reveals new GPT-4o model that is faster and free for all users
OpenAI on Monday launched a new AI model and desktop version of ChatGPT, along with an updated user interface, the...
Business
GCC unveils strategic vision for regional stability
For the first time in its 43-year history, the bloc has set a strategic vision that prioritizes diplomacy and dialogue...
Geostrategy
Business
UAE, fintech lead as venture funding surges in MENA
At $445 million, startups in the region witnessed a robust 153 percent year-on-year growth in venture funding despite a 7...
- At $445 million, startups in the region witnessed a robust 153 percent year-on-year growth in venture funding despite a 7 percent drop in deal volume, says a latest report
- Securing $422 million in 14 deals, the UAE led regional funding, while Saudi Arabia, boosted by Flat6labs Riyadh's seven new startups, led with 15 deals.
Economy
Middle East tourism witnesses strong rebound in Q1
Continued economic recovery, ease of travel restrictions, and the growing popularity of the region as a tourist destination have been...
- Continued economic recovery, ease of travel restrictions, and the growing popularity of the region as a tourist destination have been credited for the sector's resilience
- About 235 million tourists travelled internationally in the first three months of 2023, more than double during same period of 2022, highlights the latest UNWTO report
Economy
Qatar’s realty builds on robust infrastructure
The country aims to reach the volume of real estate trading to QR 100 billion (US$27.4 billion), especially since real...
- Qatar's advanced infrastructure, health sector, and education system play significant roles in bolstering the real estate sector, says the Minister of Municipality
- The Gulf country's goal is to reach a volume of real estate trading of QR 100 billion (US$27.4 billion), adds Dr. Abdullah bin Abdulaziz bin Turki Al Subaie
Geostrategy
Time won’t strip Palestinians of right to return
"While commemorating 75 years since the crisis, we remember with sorrow the crime against humanity the Palestinian people faced in...
- Kuwait's UN Ambassador Tariq Al-Bannai underscores Palestinians' right to return to their homeland during a UNRWA meeting
- Al-Bannai recalls the crisis of 1948, terming it a crime against humanity, leading to displacement of hundreds of thousands of Palestinians.
Business
GCC feeds growing appetite for catering services
Rising disposable incomes, demand from businesses and events, online food delivery services, and increased tourism are driving the growth of...
- Rising disposable incomes, demand from businesses and events, online food delivery services, and increased tourism are driving the growth of Gulf catering services market
- Saudi Arabia leads the market, while the UAE is showing the fastest growth as major tech companies like Google and Microsoft are investing heavily in the sector
Geostrategy
Iran, Saudi Arabia, UAE, Iraq, other regional powers plan naval coalition
Iranian Navy Commander Rear Admiral Shahram Irani has declared the formation of a new naval coalition. This alliance, encompassing regional...
- The move reflects the region's understanding of the need for synergy and cooperation in establishing security
- Iran, Russia, and China's annual naval exercises pointed to as a model for this regional coalition
Human fraternity, climate change among top priorities for UAE as president of UNSC
The UAE will host three high-level Council meetings in June, aiming to promote interfaith dialogue, address climate change impacts on...
- The UAE will host three high-level Council meetings in June, aiming to promote interfaith dialogue, address climate change impacts on worldwide conflicts
- The UAE also seeks to host a high-level briefing on cooperation between the UN and the League of Arab States will take place on June 8
More GCC newspapers cease weekend publishing
Major GCC newspapers -- including Khaleej Times and Gulf News -- have ceased weekend editions due to financial pressure and...
- Major GCC newspapers -- including Khaleej Times and Gulf News -- have ceased weekend editions due to financial pressure and declining readership.
- The move has drawn mixed reactions, with some appreciating the step towards digital adaptation and others worrying about the potential impact on journalism quality
Business
Innovative financing solutions attract firms to UAE
"Everybody sees this as an opportunity to bring their businesses here. Accessing capital can be challenging, but fortunately the government...
- Raja Al Mazrouei, CEO of Etihad Credit Insurance, asserts that financing solutions are driving manufacturing growth in the UAE and luring external entities
- The ECI CEO, however, acknowledges the challenges in capital access but praised the UAE government's provisions such as subsidies, financing, and guarantees
Economy
‘UAE rising as a key player in global hospitality’
“Cities such as Dubai and Abu Dhabi have rapidly established themselves as the hospitality destination of choice for business and...
- UAE's innovative adaptability attracts significant influx of international tourists, says Siegfried Nierhaus, Vice President Middle East, Deutsche Hospitality
- Dubai and Abu Dhabi have established themselves as top hospitality destinations for business and leisure. Hotel room occupancy may exceed expectations in 2023, he adds
OpenAI reveals new GPT-4o model that is faster and free for all users
OpenAI on Monday launched a new AI model and desktop version of ChatGPT, along with an updated user interface, the...
Business
Company News
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WEF discusses politics, climate, but not Gaza crisis
Khalid Janahi, CEO of Vision3, in an exclusive interview with TRENDS, delves into why this vital topic was overshadowed in...
Videos
Digital rights of Palestinians, supporters widely violated: Report
“Those developments had a significant impact on the digital world, freedom of speech, privacy, and security, leading to a deterioration...
Geostrategy
Watch: Experts discuss how Arab world reshapes future
At the HUB Davos 2024 conference, UAE's Minister of Economy Abdulla Bin Touq Al Marri highlights the nation's commitment to...
Business
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Economy
Tawazun Council acquires TASNEEF
Subsidiaries of TASNEEF were also acquired.
- This strategic move aims to enhance the council's role in developing national defense industries, the Council said.
- TASNEEF has established a number of services, including issuing rules of relevance to the classification of ships.
Business
Bahrain Steel raises $450m SLL
The company produces and supplies high-grade iron ore pellets.
- The proceeds from this loan will be directed towards CAPEX for constructing the world’s largest stockyard shed with rooftop solar panels.
- The SLL's framework incentivizes Bahrain Steel to exceed mandatory greenhouse gas (GHG) emissions reductions.
Business
Saudi insurance sector shows 14.6 percent growth in Q3 of 2023
RIYADH, SAUDI ARABIA- The Insurance Authority (IA) has issued its first report on the performance of the sector in the...
- The report has been issued to provide transparent and accurate information about the performance of the insurance sector.
- The report showed a 2.2 percent increase in the insurance sector’s penetration ratio to non-oil GDP in Q3 of 2023.