MGX participation confirmed in OpenAI’s US$6.6bn in new funding, valuing it at US$157bn
OpenAI has finalized a deal to receive US$6.6 billion in new funding from investors who valued the company at US$157...Business
OpenAI chief technology officer Mira Murati leaving company
San Francisco, United States - OpenAI chief technology officer Mira Murati on Wednesday said she is leaving the company behind ChatGPT,...Business
Qatari exports to clients surge in 2023 to US$412m: Tasdeer
Doha, Qatar--The Qatar Development Bank's Export Development and Promotion Agency (Tasdeer), a subsidiary of the Qatar Development Bank, announced an...According to the agency, some 260 Qatari exporters and 130 companies took part in eight international exhibitions during the past year
The trade missions undertaken by Qatari companies to Iraq and India generated deals worth approximately $57.41m and $31.31m respectively
‘AD Ports redefines future of maritime and logistics’
"Our achievements demonstrate that traditional approaches no longer suffice in the rapidly evolving global market. We have embraced change, not...In 2023, AD Ports Group achieved a 116% revenue surge and expanded globally, notably through the strategic acquisition of Noatum, enhancing its global market presence.
The group's expansion into African markets with a 30-year concession in Congo and a US$2 billion corporate facility agreement underscore its strong financial standing.
Dragon Oil starts oil production
The Al Wasl field is its first oil discovery in Egypt.Dragon Oil discovered the Al Wasl field, “North Safa” in 2021, making it the largest oil discovery in the Gulf of Suez region during the last twenty years
The oil company will begin setting up a new offshore production platform, extending a production line and an electricity line to operate oil pumps
GCC realty builds on diversification, sustainability
The Gulf real estate sector demonstrates remarkable resilience, buoyed by strategic economic diversification and a focus on sustainable and innovative...The Gulf real estate sector demonstrates remarkable resilience, buoyed by strategic economic diversification and a focus on sustainable and innovative urban development.
Dubai's real estate market experienced a significant surge, with substantial growth in transactions and a continued appeal for foreign investors, despite global uncertainties.
Invest Qatar launches azure open AI GPT-powered chatbot ‘Ai.SHA’
DOHA, QATAR - The Investment Promotion Agency Qatar (Invest Qatar) has partnered with Microsoft to develop Ai.SHA, an innovative AI-powered...This initiative positions Invest Qatar as one of the first investment promotion agencies (IPA) in the world to adopt advanced technology.
This will pave the way for transformative changes in professional interactions between investors and businesses in Qatar.
IHC announces formation of 2PointZero – a next generation holding company
ABU DHABI, UAE - The International Holding Company (IHC) announced the initiation of the transfer of 2PointZero, a next generation...2PointZero is more than a holding company - it embodies a vision of progress across a variety of industry verticals.
Spanning multiple sectors, business combinations of entities under common control, have been combined to form 2PointZero.
Baidu cancels YY Live deal
The deal was originally expected to be completed by 2021.Baidu, the country's top search engine company, agreed in 2020 to buy JOYY Inc's Chinese live video business YY Live for $3.6 billion
However, Baidu said in a Hong Kong stock exchange filing on Monday that it would terminate the purchase agreement
Over 12m people visit Riyadh Season in 60 days
RIYADH, SAUDI ARABIA - Two months after their launch, on October 11, 2023, Riyadh Season events had already attracted 12...Riyadh Season attracts large number of visitors with different kinds of activities and experiences.
It is one of the major Saudi events that establishes new concepts in the world of entertainment.
Europe stocks rise, Asia tepid as oil jumps and Bitcoin shines
Following record highs in 2023 for the likes of Paris, Frankfurt and Tokyo, investors are predicting more gains as central...Bitcoin broke $45,000 for the first time since April 2022 on optimism that the United States would allow wider trading of the world's biggest cryptocurrency.
Despite the upbeat outlook on rates, Asian markets started the year with little fanfare. Hong Kong and Shanghai each extended last year's losses
China’s new tariffs policy to hasten industrial transformation
Beijing, China -- China's import and export tariff adjustments on some goods took effect on Monday, including implementing provisional import...China lowered import tariffs on resources and NEVs, aiming to enhance competitiveness and secure supplies.
Tariffs on medicines and food for medical purposes were cut, reflecting a focus on health and consumer needs.
