Saudi Arabia partners with Microsoft Arabia for AI use in media
Riyadh, Saudi Arabia - The Ministry of Media and Microsoft Arabia signed a memorandum of understanding (MoU) in Riyadh on...
Business
Saudi Arabia issues warning against fraudulent Hajj 2024 operators
Riyadh, Saudi Arabia - Saudi Arabia is warning potential Hajj pilgrims to be cautious of fake Hajj companies that may...
Business
Ooredoo, QNBN sign agreement
The two companies will jointly develop Doha Port.
- The agreement represents a strategic partnership and reflects a commitment to driving innovation to build a more connected Qatar.
- Qatar National Broadband Network was established to implement the highest global standards in evolving telecommunication infrastructure.
Economy
Saudi banks see moderate improvement in margins in Q3: report
Riyadh, Saudi Arabia - Operating income of Saudi banks increased by 2.9 percent QoQ, majorly due to net-interest income (NII)...
- Top 10 lenders demonstrate resilience with a 2.9 percent quarter-on quarter (QoQ) increase in operating income, fueled by robust net interest income growth
- Moderated credit growth is anticipated in Q4’2023, underscoring a positive economic outlook, driven by non-oil sectors and sustained government spending
Business
$128 billion in US company deals during Dubai Airshow: US Ambassador
Abu Dhabi, UAE - Martina A Strong, the US Ambassador to the UAE revealed on Monday that American companies secured...
- Martina A Strong underlined the UAE's significance as a market for American companies, highlighting the presence of over 1,500 American businesses
- The companies are drawn to the UAE's strategic location, its pro-business environment, and its gateway to burgeoning regional markets, she noted
Geostrategy
Israel reportedly pulls support for Saudi bid to host Expo 2030, to back Italy
Tel Aviv, Israel - Israel has reportedly withdrawn its support for Saudi Arabia’s bid to host the Expo 2030. The...
- Israel had previously signaled its backing for Saudi Arabia as talks mediated by the US aimed at normalizing relations between the two nations gained momentum
- Riyadh’s alignment with the broader Arab community in condemning Israel's military operation in Gaza sparked a rift, prompting Israel to reconsider its support
Business
Abu Dhabi’s EWEC opens Q4 2023 Clean Energy Certificates auction
ABU DHABI, UAE - Emirates Water and Electricity Company (EWEC) on Monday announced that it will conduct its Q4 2023...
- CECs are the only accredited instruments in the Emirate that prove the environmental and economic benefits of consuming clean energy.
- Issued in units of 1MWh, each CEC certifies that the electricity consumed by the entity originates from a clean energy source.
Oman’s Producer Price Index down in Q3 2023
Muscat, Oman - The Sultanate of Oman's producer price index (PPI) in Q3 2023 recorded a decrease of 13 percent...
- Prices of oil and gas products decreased by 13.7 percent, under pressure from the decrease in the prices of crude oil and natural gas products by 16 percent
- Non-oil products also recorded a decrease of 8.2 percent due to a decrease in the prices of the manufacturing industries group by 10.2 percent
Geostrategy
Biden, Netanyahu, Hamas positive on possible extension of truce in Gaza
The pause that began Friday has seen dozens of hostages freed, with over 100 Palestinian civilians released by Israel in...
- Netanyahu said that he had discussed the release of another group of hostages from the Gaza Strip with the US President
- Hamas also said it was willing to extend the pause after it freed more hostages, including a four-year-old orphaned by its attack
Business
Infracorp logs $29.8m profit
The company specializes in social infrastructure.
- Infracorp is currently restructuring its industrial portfolio to support its expansion in developing vital industrial infrastructure in Bahrain
- The company is expanding its investment portfolio in the hospitality sector and attracting several international names, including ROKA and Avli by tashas
Economy
Saudi, Turkey, Egypt among 16 nations viewing climate change as top concern
Riyadh, Saudi Arabia: Around 80% of consumers surveyed across 16 countries now view climate change as the world’s No. 1...
- Around 56% of Saudi consumers stated that they were willing to pay more to ride in a carbon-neutral taxi as against 40% of consumers in other countries
- Similarly, they were also willing to pay more for hotels, train tickets, broadband internet, groceries, computers, clothing, and smartphones
Sam Altman’s return ushers in new era at OpenAI
The five-day saga began on Friday, when Altman was abruptly sacked by the board for reasons that are still unclear....
- The board that fired Altman from his role as CEO of the ChatGPT creator has been almost replaced following a rebellion by employees
- The sole survivor in the boardroom in the new Altman era is Adam D'Angelo, the CEO of question-and-answer site Quora
Saudi Arabia partners with Microsoft Arabia for AI use in media
Riyadh, Saudi Arabia - The Ministry of Media and Microsoft Arabia signed a memorandum of understanding (MoU) in Riyadh on...
Business
Company News
Goldman Sachs, Mubadala ink pact
Business
Latest News
Saudi Arabia to expand customs duty exemption for some industrial products from April 1
Riyadh, Saudi Arabia - The Saudi Ministry of Industry and Mineral Resources has unveiled plans to broaden the range of...
Economy
Dubai’s assets in endowment sector reaches US$2.8bn
DUBAI, UAE – Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said that under the guidance of Vice...
Geostrategy
ADCB approves cash dividends worth US$1.1bn Â
ABU DHABI, UAE – Abu Dhabi Commercial Bank (ADCB) has approved the Board of Directors proposal to distribute a cash...
Business
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Arts & Culture
1200 year old ebony wood poles discovered at Jeddah’s Othman bin Affan Mosque site
Jeddah, Saudi Arabia - The Jeddah Historic District Program has announced the discovery of the two ebony wood poles at ...
- The two masts are classified as among the oldest artifacts discovered at the site so far
- The number of architectural phases discovered at the Othman bin Affan Mosque so far has reached seven
Arts & Culture
Alicia Keys to perform at Saudi Arabian Grand Prix 2024 on March 9
Jeddah, Saudi Arabia - Jeddah is poised to host Alicia Keys, the legendary musician, singer, and multiple Grammy-award winner, at...
- Keys will be gracing Jeddah for the first time, marking her third appearance in Saudi Arabia
- Keys will be gracing Jeddah for the first time, marking her third appearance in Saudi Arabia
Science
Saudi Arabia unveils its man shaped AI robot Mohammad
Riyadh, Saudi Arabia - Saudi Arabia unveiled its first male humanoid robot ‘Muhammad’ during the second edition of DeepFast in...
- A 7-second video of the robot is now viral. In it, the reporter Rawya Kassem, is seen talking about the robot
- Addressing the audience in flawless Arabic, the robot emphasized his role as a national project showcasing Saudi achievements in AI