Global markets rode AI, interest rate roller coaster in 2024
Paris, France - Despite political upheavals, stock markets and bitcoin smashed records in 2024, fuelled by investor enthusiasm for Artificial Intelligence (AI),...
Economy
Saudi Space Agency launches ‘Space Futures Centre’
Riyadh, Saudi Arabia - The Saudi Space Agency (SSA) announced Sunday the launch of the Centre for Space Futures, the...
Science
Science
China to subject new AI products to ‘security assessment’
China has announced ambitious plans to become a global leader in the field of AI by 2030, and consultancy group...
- The draft law aims to ensure "the healthy development and standardised application of generative AI technology."
- AI generated content, it continued, must "reflect core socialist values, and must not contain content on subversion of state power."
Geostrategy
Israel’s Netanyahu vows to restore security as violence surges
The day after Israeli police on Wednesday stormed the prayer hall of Jerusalem's Al-Aqsa mosque -- Islam's third-holiest site --...
- Heavy clashes, shootings, rocket strikes and a car-ramming attack have marred a period when the Muslim holy month of Ramadan coincides with the Jewish Passover and Christian Easter
- The latest casualties were a Palestinian teenager and a British-Israeli mother who succumbed on Monday to injuries from a West Bank gun attack that earlier killed her two daughters
Science
WHO may aid Iraq in a bid to localize pharmaceutical sector
BAGHDAD, IRAQ - The World Health Organization (WHO) affirmed it is likely to support Iraq in the localization of its...
- The WHO official said the organization has a plan with Iraq's health ministry for seven years to advance the health reality.
- He said that "coronavirus testing laboratories have increased from one laboratory to more than 70 laboratories.
Business
DEWA approves payment of US$1.29bn in dividend to shareholders
DUBAI, UAE - Dubai Electricity and Water Authority (DEWA) which is listed on the Dubai Financial Market (DFM) on Monday...
- DEWA general assembly was chaired by Matar Humaid Al Tayer, Chairman of the Board of Directors of the utility.
- Saeed Mohammed Al Tayer, MD and CEO of DEWA and members of the Board of Directors also took part in the meet.
Geostrategy
Environment Agency – Abu Dhabi launches strategic environmental assessment program
ABU DHABI, UAE - The Environment Agency - Abu Dhabi (EAD) has introduced the Strategic Environmental Assessment (SEA) planning program...
- Strategic Environmental Assessment will promote sustainable development and a healthy environment for future generations.
- SEA will aid in evaluating environmental impacts and guiding the investigation of alternatives and potential mitigation efforts.
Business
e& to acquire a majority stake in Careem Super App for $400m
Careem’s ride hailing business will remain fully owned by Uber and continue to be available with all other Careem services...
- Careem’s ride hailing business will remain fully owned by Uber and continue to be available with all other Careem services on the existing app for customers
- The Careem Super App offers over a dozen services including food and grocery delivery, micro-mobility, a digital wallet and suite of fintech services
Business
Microsoft, G42 sign MoU
MoU will leverage core competencies of both the firms.
- The MoU will help explore joint business development and marketing opportunities across a variety of areas G42 covers.
- Microsoft and G42 will be working in the coming months to finalize the development required to ensure regulatory compliance.
Economy
4th batch of Saudi oil derivatives grant arrives in Aden
Aden, Yemen - The fourth batch of the Saudi Oil Derivatives Grant, consisting of 150,000 metric tons of diesel and...
- This initiative is part of Saudi Arabia's ongoing efforts to support the Yemeni people
- The grant was provided to help Yemen operate over 70 power generation plants
Business
DIEZ profit zooms 42%
The company reported a 9 percent rise in rental revenue.
- The company reported a 9 percent rise in rental revenue and a 69 percent increase in revenue from commercial licences
- Dr. Mohammed Al Zarooni, Executive Chairman of the DIEZ, said that more than 22,000 companies are based out of the zones.
Business
Oman issues order to regulate consumer cooperatives
MUSCAT, OMAN - Oman Ministry of Commerce, Industry and Investment Promotion on Sunday issued an order to regulate the activities...
- The order aims at promoting Omani products, establishing new supply chains, supporting national industries.
- The ministry pointed out that consumer cooperatives operate under a legal framework to sell goods.
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Global markets rode AI, interest rate roller coaster in 2024
Paris, France - Despite political upheavals, stock markets and bitcoin smashed records in 2024, fuelled by investor enthusiasm for Artificial Intelligence (AI),...
Economy
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ADX lists FAB Green Sakuk
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Naufar partners with MEEZA
Business
EDGE signs MoU with MBRSC
Business
The UAE President swears in 3 new ministers
The ministers taking the oath of office were Dr Amna bint Abdullah Al Dahak Al Shamsi who was appointed as...
UAE passport most powerful in MENA region, 11th in global index
Abu Dhabi, UAE - The UAE passport has climbed two positions to secure the 11th spot in the 2024 Passport...
Economy
Saudi PIF Governor: Global demand for metals to rise sixfold by 2040
Riyadh, Saudi Arabia - Public Investment Fund (PIF) Governor Yasir Al-Rumayyan on Wednesday said that the Kingdom’s mineral wealth currently...
Economy
Most Read
Business
Middle East air cargo volumes up 13.5% in November
Dubai, UAE - Middle Eastern carriers recorded a 13.5% year-on-year increase in cargo volumes, strongest performance in the world. In November...
- Global demand for air cargo, measured in cargo tonne-kilometres (CTKs), increased by 8.3% compared to November 2022
- Most of the capacity growth is attributed to the increase in belly capacity as international passenger markets continue their post-COVID recovery
Business
Bitcoin surpasses $47,000, first time since March 30, 2022
Abu Dhabi, UAE - Bitcoin surged above $47,000 on January 9, marking its highest value since March 30, 2022, as...
- Bitcoin, originating in 2008 under the pseudonym Satoshi Nakamoto, operates as a decentralized digital currency
- The robust trading volumes in Bitcoin mining firms signal a heightened investor interest, underlining the increasing prominence of cryptocurrencies
Saudi Arabia tops MENA in venture capital investment in 2023
Riyadh, Saudi Arabia - Saudi Arabia achieves first rank across MENA for the first time in terms of the amount...