Utilizing AI is only possible if skill gap is bridged, says expert
DUBAI, UAE - The Artificial Intelligence (AI) revolution is upon us, with AI becoming a pervasive force in our daily...Business Economy Global Tech & Media Uncategorized
Shanghai to build 200 smart factories to shore up its manufacturing status
Shanghai, China--Shanghai plans to build 200 new smart factories and 20 demonstration sites by end of 2025 after 70 intelligent...Business
FB family of apps return online after seven hours
Users of Facebook, Instagram and WhatsApp across the world, including the Gulf countries, remained heavily affected for hours.The outage was first reported at around 1545 GMT or 7.45pm UAE time
Washington, Paris, Dubai and Delhi were few major cities that remained affected
World airlines commit to ‘net zero’ CO2 emissions by 2050
The world's airlines made a joint pledge Monday to reach "net zero" CO2 by 2050, as the aviation industry ramps..."The important decision that we must make today will secure the freedom to fly for future generations"
IATA represents 290 member airlines comprising 82 percent of pre-pandemic global air traffic
DMCC registers best nine-month performance
The DMCC welcomed around 1,800 companies to Dubai from Q1 to Q3 this year.DMCC last month welcomed 215 new businesses to its free zone and business district in the best September performance since inception
This year also saw its best H1 performance since 2013; its best June and August performances on record are also from this year
Alturki Holding oil arm buys out US drilling firm Newsco for undisclosed sum
Alturki Holding oil arm, the Saudi Sawafi company, has bought out Newsco, the US drilling services company, for an undisclosed...Newsco is one of the most important directional drilling companies in the petroleum industry in the world
Sawafi, the global leader in upstream technologies, will now control about 9 patents in directional drilling
Central Bank of UAE penalizes six exchanges for flouting rules on money laundering
The Central Bank of the United Arab Emirates has penalized six exchange houses for flouting rules to combat money laundering...The sanctions imposed last month followed the exchange houses’ failures to comply with AML & Sanctions Compliance Frameworks by end-2019
The UAE has in recent months beefed up regulations targeted at banks and financial institutions to combat and prevent money laundering
Home buyers in Middle East long for a villa in the countryside
Home buyers in the Middle East are looking to settle in rural areas and possess bigger homes than they have...Around 57 percent of respondents in the region said they would be most likely to buy a villa
Half of the respondents cited the energy efficiency of their home being a “very important” issue
TMG of Egypt looks to take advantage of demand for housing in Saudi Arabia and Iraq
Talaat Moustafa Group, the Egyptian real estate company, is looking to expand into Saudi Arabia and Iraq to take advantage...TMG has formed a committee to study investment opportunities in Saudi Arabia and Iraq
The company recently proposed the Nour City project, east of the capital Cairo
Art sales rebound to an all-time high of $2.7 billion after Covid-19 slump
Sales soared between June 2020 and June 2021 as auctioneers quickly adopted a more online approach.NFTs, or "non-fungible tokens", allow people to buy the rights to online art, including images, animation or even tweets.
In March, US artist Beeple sold an NFT of his digital artwork "Everydays: The First 5,000 Days" for $69.3 million.
Outdoor ad firm Al Arabiya announces IPO
The company expects to sell 30 percent of its shares in the offering.The IPO is expected from Oct. 22 to Oct. 26 and a book-building process will determine offer price per share.
In June, the Capital Market Authority had approved the company's request for the IPO.
Emirates and Qantas extend partnership
Together, the airlines are making millions of reward seats available for frequent flyers to access more than 100 destinations.For Emirates customers, the deal provides access to over 55 Australian destinations to where Emirates does not fly
Qantas customers are able to fly on Emirates to Dubai and access over 50 cities in Europe, the Middle East and North Africa, to where Qantas does not fly
