Anthropic hit with class-action lawsuit over copyright infringement
Anthropic, the Amazon-backed artificial intelligence startup, on Monday, was hit with a class-action lawsuit in California federal court over alleged...
Business
Boeing to plead guilty to criminal fraud charge stemming from 737 Max crashes
Boeing agreed to plead guilty to a criminal fraud charge tied to the fatal 737 Max crashes, the Justice Department...
Business
Business
Gulf International Bank continues partnership with Beehive
The strategic partnership, which initially began in 2020, brought to market a new digital GIB financing platform to ensure swift...
- The strategic partnership, which initially began in 2020, brought to market a new digital GIB financing platform to ensure swift and efficient access to finance
- The platform is fully digital and includes a sophisticated online decision making and lending process to provide faster and more accessible financing
Jordan king discusses ties with US congressional delegation
The meeting, attended by Crown Prince Al Hussein bin Abdullah II, covered bilateral ties and the strategic partnership between Jordan...
- The meeting, attended by Crown Prince Al Hussein bin Abdullah II, covered bilateral ties and the strategic partnership between Jordan and the United States
- The US lawmakers stressed the United States’ keenness to bolster cooperation with the Kingdom and to continue supporting it
Business
Siemens bags Egypt project
The company will upgrade power distribution system in Alexandria.
- Implementing advanced software solutions and automation devices will help Alexandria Electricity Distribution Company increase efficiency.
- A total of 300,000 smart meters will be supplied, including the necessary hardware and software to establish an advanced metering infrastructure.
Geostrategy
UAE, Serbian Presidents discuss bilateral relations
UAE President Sheikh Mohamed bin Zayed Al Nahyan discussed with Aleksandar Vucic, President of Serbia, cooperation between their countries and...
- The two leaders discussed a number of regional and global issues and developments of mutual concern.
- The two leaders explored UAE-Serbia cooperation in investment, economic, trade, science, technology, food security, agriculture, among others.
Economy
Dubai’s RTA releases Sustainability Report 2021
Dubai's Roads and Transport Authority (RTA) has published its seventh Sustainability Report 2021. The report showcases RTA's practices in matters...
- The report showcases RTA's practices in matters related to the environment, society and governance.
- RTA had developed a roadmap to achieve zero-emission from public transport means by 2050.
Business
EU commercial flights surge 25 percent in August 2022
Brussels, Belgium - The number of commercial flights in August 2022 in the EU increased 25 percent compared to August...
- The numbers are still below the pre-pandemic levels, but the gap is eventually decreasing.
- Also, some EU airports recorded increase in the total commercial flights compared with 2019.
Economy
Dubai FDI wins UN award for best practices in tracking investments
The Dubai Investment Development Agency (Dubai FDI) at the Department of Economy and Tourism (DET) gained international recognition for its...
- Dubai FDI Monitor tracks and records five different types of foreign direct investment in real-time.
- The Monitor tracks and records FDI and new forms of investments using advanced methodology and smart features.
Business
DEWA plans cash dividend for H1
Firm plans to give cash dividend of US$844m.
- DEWA's first general assembly meeting will be held physically and virtually on October 10, 2022.
- The assembly will vote on the recommendation of Board of Directors concerning a cash dividend distribution for H1 2022.
Arts & Culture
Kuwaiti Camel Racing Club sports season 2022-23 begins
Kuwait--Activities of the local sports season of the Kuwait Camel Racing Club for 2022-2023 season begun on Saturday at Sheikh...
- Nine runs were held on the first day of the season that will last for seven months.
- More than 300 participants of all ages participated in Saturday's race, which contributed towards increasing the number of camels in the event. the organizers said.
Business
Saudi PIF to come out with a debut green bonds issue
Saudi Arabia’s Public Investment Fund (PIF), the sovereign wealth fund at the heart of the kingdom’s reform plans to wean...
- According to media reports, PIF has set up a financing framework that would allow it to raise green bonds
- PIF started raising bank debt in 2018 with an $11 billion facility, followed in 2019 by a $10 billion loan which it then repaid in 2020
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Revenue from Saudi cinema may exceed $1bn by 2030KSA, UAE play well as e-gaming trends across GCCExclusive: Middle East’s retail sector rides on AR and hybrid shopping to become $600bn digital economyTECOM Group profit soars 13%UAE startups eye Saudi Arabia for growth, expansionSaudi Arabia leads GCC AI healthcare raceDisparity remains as Saudis, Emiratis see wealth gains
Anthropic hit with class-action lawsuit over copyright infringement
Anthropic, the Amazon-backed artificial intelligence startup, on Monday, was hit with a class-action lawsuit in California federal court over alleged...
Business
Company News
Sharjah Consultative Council approves heritage policy
Arts & Culture
Latest News
Yahsat 2022 revenue up 6%
Business
Abu Dhabi Chamber inks MoU with Ethiopian Investment Commission
ABU DHABI, UAE - The Abu Dhabi Chamber of Commerce and Industry has signed a Memorandum of Understanding with the...
Business
Economists convened by COP28 lay out steps to reform global climate finance
ABU DHABI, UAE - A two-day meeting of world leading economists and finance leaders convened by the COP28 Presidency has...
Economy
Caspian Sea water levels hit 30-year low
Estimates reveal a 9-meter decline in Caspian Sea water levels, shrinking the area by 24 percent, as the northern half...
Geostrategy
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Business
Agility posts Q2 earnings of $46m
Net profit was affected by higher interest rate.
- For the first six months of 2023, Agility’s net profit stood at US$95.5 million.
- There was an increase in debt for financing the firm’s acquisitions last year.
Geostrategy
International Military Forum Army-2023 opens in Moscow
MOSCOW, RUSSIA - The international military-technical forum Army-2023 opens at the Patriot Congress and Exhibition Center here. About 1,500 prominent...
- About 1,500 prominent Russian companies of the military-industrial complex will present their products.
- 85 foreign companies and organizations from seven countries will also participate in the forum.
Geostrategy
Syria claims US responsible for military escalation in country
BEIRUT, LEBANON – The US is responsible for the military escalation in eastern Syria, where terrorist groups such as the...
- Syria pledged to continue its operations against terrorists until the threat is fully eliminated.
- At least 33 Syrian servicemen were killed on August 10 when a bus they were travelling in was ambushed near Al Mayadin city.