Riyadh’s “Global Sports Tower” designs approved
Led by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, the initiative's purpose is to elevate the...Business
Aramco, Sempra ink Port Arthur LNG royalties deal
Aramco's 25% participation in Port Arthur LNG Phase 2 aims to expand its gas portfolio and meet the world's growing...Business
Arab Union for International Exhibitions & Conferences approves 2024 plan
Sharjah, UAE--The board of directors of the Arab Union for International Exhibitions Conferences (AUIEC), operating under the Council of Arab...AUIEC plan for next year focuses on attracting new memberships in order to expand its network and active participation in union members' activities and events
The union is set to organise prominent events like the Arab Industries Exhibition in the UAE and Iraq and the Conference of the Exhibition Industry in the Arab World
Tesla files recall on 2m vehicles to fix autopilot software
Tesla's Autopilot program has spurred numerous government investigations as well as media exposes focusing on misuse or vulnerabilities. The system...The recall affects models across Tesla's portfolio and will be addressed by an "over-the-air software remedy" typically performed remotely
The recall covers 2.03 million Tesla vehicles and includes Models S, X, Y and 3. Authorities in Canada said they were recalling 193,000 vehicles there
NEOM unveils Utamo, a $500bn project to showcase world’s mega artists
NEOM, Saudi Arabia - Saudi Arabia's $500 billion mega project, has introduced Utamo, a new art and entertainment destination set...Described by NEOM as "an innovative and multipurpose event and performance space," Utamo features VIP lounges and signature restaurants
NEOM envisions Utamo as a venue where "reality and the digital realm converge," aiming to redefine entertainment benchmarks
Somalia to get US$4.5bn in debt relief from creditors: IMF
The IMF said the debt relief will facilitate access to additional financial resources that will help it strengthen economy, reduce...Its external debt has fallen from 64% of GDP in 2018 to less than six percent of GDP by the end of 2023
The IMF said that Somalia has implemented a poverty reduction strategy for at least a year
ADX signs MoU with SZSE
The agreement will bolster cross-border ETF cooperation.ADX is looking to enhance ties with with leading global financial institutions, including the recent agreement with the New York Stock Exchange
The agreement between the two bourses is set to provide a robust platform for financial growth and connectivity between the UAE and China
Andalusia Labs secures $48m funding
The company deals in risk management infrastructure for digital assets.Silicon Valley venture capital firm Lightspeed Venture Partners led the round with participation from Mubadala Capital
Andalusia Labs is a collection of leading technology solutions addressing the security challenges prevalent in the blockchain industry
GCC media outlets think outside the box to stay afloat
Reeling from a calamitous drop in advertisement revenues and public trust, news media organizations are reworking strategies to create "niche"...Many believe news media outlets have been distracted from their role to safeguard space for informed debate on public issues
Several well trusted media outlets with deep pockets are battling against thinning revenues and being forced to think differently
OpenAI to pay Axel Springer to use journalism in ChatGPT
Berlin, Germany -- Axel Springer said Wednesday it was partnering up with the maker of ChatGPT, OpenAI, which will pay the...The chatbot's answers would include material otherwise kept behind a pay-wall and offer "links to the full articles for transparency and further information," they said.
Axel Springer CEO Matthias Doepfner has previously warned that AI threatened to "replace" journalism, while the group has been pursuing its own AI-driven ventures.
Qatar records real estate transactions worth $400 million in Nov
Doha, Qatar -- Qatar reported a total of 321 real estate transactions worth QR 1.46 billion ($400 million) in November...Top-performing municipalities in financial value included Doha, Al Rayyan, and Al Dhaayen. Doha led with transactions worth QR 603 million.
Mortgage transactions totaled 88, amounting to QR 3.19 billion. Al Rayyan dominated with 38 transactions, followed by Doha with 25.
Saudi investors witness 40% fall in US equities trading in Q3 2023
Riyadh, Saudi Arabia -- In the third quarter of 2023, Saudi investors engaged in sell and buy transactions on US...This reflects a substantial year-on-year (YoY) fall of SAR 9.15 billion, equivalent to a 40 percent decrease.
According to a report from the Capital Market Authority (CMA), this decline in trading activity by Saudi investors represents the lowest point since Q4 2019.
