As AI joins the workforce, who gives it authority?
The first generation of enterprise generative AI largely answered questions, summarised documents and produced content. A human usually remained responsible...
Opinion
Iran warns states joining US sanctions would be deemed ‘enemies’
Tehran says Washington’s campaign could deepen nuclear insecurity, while Trump renews his claim over the Strait of Hormuz.
Geostrategy
Geostrategy
Potential dangers of AI seen as major business risks for 2024
Davos, Switzerland -- Thdfe potential dangers of AI, particularly its influence on upcoming elections and the escalation of military conflicts,...
- Elections emerged as a focal point of discussion: 3 billion people across 40 countries, representing 60% of global GDP, are set to vote this year.
- "Misinformation can destroy trust through an election and undermine society at large," said one CEO.
Business
EDGE Group, São Paulo government partner on public security initiative
Abu Dhabi, UAE -- EDGE, one of the world’s leading advanced technology and defense groups, has announced that it will...
- The partnership was announced during a high-level delegation visit by senior government members to EDGE Group headquarters in Abu Dhabi.
- The ‘Proof of Concept’ (PoC), with an initial phase of six months to validate the plan and facilitate adjustments, will have three strategic targets.
Geostrategy
Diversification of energy sources needed to meet demand: Saudi minister
Davos, Switzerland -- The Saudi Minister of State for Foreign Affairs, Cabinet's member, and Climate Affairs Envoy, Adel bin Ahmed...
- Adel bin Ahmed Al-Jubeir said Saudi Arabia aims to become the top exporter of energy, not only of oil.
- He highlighted the Kingdom’s dedication to collaborating with other countries to reduce emissions and address the challenges of climate change.
Business
EDGE, Baykar collaborate
EDGE smart weapons will be integrated into Bayraktar UAVs.
- The integration programme is part of a Strategic Alliance Agreement between the two groups to collaborate on advanced technology solutions in the defense sector.
- Under the program, EDGE will integrate their DESERT STING 16 precision-guided munition onto the Baykar TB2 UAV.
Business
Emirates Steel Arkan signs $2bn deal
The 5-year, iron-ore pellets supply deal was signed with BSC.
- Under this agreement, Bahrain Steel will supply high-grade iron ore oxide pellets annually to Emirates Steel Arkan.
- Saeed Ghumran Al Remeithi, Group CEO at Emirates Steel Arkan, said the agreement will also cement ties within the GCC.
Business
Aramco injects $4 billion into its global venture capital arm
Dhahran, Saudi Arabia -- Aramco has allocated an additional $4 billion to its global venture capital arm Aramco Ventures, more...
- This will take Aramco’s overall venture capital allocation to $7.5 billion, which also includes the $500 million venture capital fund Wa’ed Ventures,
- Through Aramco Ventures, we aim to support pioneers with big ambitions, and ultimately help bring their ideas to life, said Aramco Executive Vice President of Technology.
Business
Sales of $10m-plus homes in Dubai grow by record 92% in 2023
Dubai, UAE -- The total number of US$10 million plus home sales in Dubai grew by 92.4 percent to 431...
- The total value of sales above this price point grew by 91 percent last year to US$7.6 billion, 28 percent of which was achieved in Q4 alone.
- The Palm Jumeirah remains at the epicenter for luxury home sales in Dubai, according to Knight Frank.
Business
Al Arabia subsidiary wins Dubai contract
The contract was awarded by Dubai Roads and Transport Authority.
- The contract is valued at AED 522.84 million ($142.34 million). Its duration is 10 years and five months, including a preparation period of up to 31 days.
- The billboards include 85 digital billboards and 209 static billboards of different types and sizes, with the ability to transform the static billboards into digital billboards.
Business
Ummahat Island unveils world’s first net-zero 5G network towers
Tabuk, Saudi Arabia -- Red Sea Global (RSG), Zain KSA, and the French Serge Ferrari Group have developed and installed...
- In addition to being 100% solar powered, these towers are designed in a way that allows air circulation to reduce cooling costs, and do not require high maintenance.
- They are also aimed at preserving biodiversity and enabling tower sharing among all licensed telecom operators in KSA.
Economy
Saudi inflation rate declines slightly to 1.5 percent in Dec: GASTAT
Riyadh, Saudi Arabia -- Saudi Arabia’s inflation declined to 1.5 percent in December 2023, compared with 1.7 percent in November, according to recent...
- The cost-of-living index for December rose to 110.15 points, according to the base year 2018, from 108.53 points in the same month a year earlier.
- Inflation is measured by the percentage change in the cost of living between the current period and the corresponding period of the previous year.
As AI joins the workforce, who gives it authority?
The first generation of enterprise generative AI largely answered questions, summarised documents and produced content. A human usually remained responsible...
Opinion
Company News
Ancient water network discovered in historic Cairo
Arts & Culture
Latest News
Global equities, gold may extend gains in H2 2026 despite market risks: Standard Chartered
UAE and Middle East investors remain supported by stable oil markets, easing geopolitical risk premiums and strong liquidity, the bank...
Business
Summer Davos: WEF urges scaling innovation into growth and jobs
Dubai, UAE -- Global political and business leaders called for faster adoption of emerging technologies and closer international cooperation to...
Geostrategy
Saudi launches one-stop platform for summer travel offers and experiences
Dubai, UAE -- Saudi Arabia's tourism authority has launched a digital platform bringing together travel offers and tourism packages from...
Business
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Business
Saudi tourist spending rises to $22 billion in Q1 despite drop in foreign arrivals
Domestic travel helped sustain Saudi Arabia's tourism sector in the first quarter, with total visitor numbers rising to 37.2 million...
- International visitors generated SAR48 billion, nearly 60% of total tourism spending despite representing just one-fifth of travelers.
- More than 105,000 hotel rooms are scheduled for delivery by 2030 as Saudi Arabia expands tourism infrastructure.
Geostrategy
Oman opens temporary Hormuz shipping corridor as efforts intensify to restore maritime traffic
Muscat said the measure was intended to safeguard freedom of navigation in accordance with international maritime law and without imposing...
- IMO says more than 11,000 seafarers stranded in Gulf region will be evacuated under phased operation.
- Iran rejects U.S. claims it agreed to renewed IAEA inspections at nuclear facilities damaged during war.
Geostrategy
UN inquiry says Israeli targeting of Palestinian children points to ‘genocidal intent’ in Gaza
The findings were published by the UN Independent International Commission of Inquiry, which said it had found evidence that Palestinian...
- The inquiry, established by the UN Human Rights Council in 2021, said at least 20,179 children had been killed and more than 44,000 injured in Gaza.
- The report also cited widespread trauma, displacement, starvation, family separation and the collapse of education and healthcare systems.