Altman rejects Musk’s US$97.4 billion bid to buy OpenAI, as feud continues
After receiving backing from his OpenAI board, Sam Altman informed an Elon Musk-led group of investors that sought to buy...Business
Big Tech’s AI spending rattles markets
Amazon and big tech peers Microsoft and Google saw their stock prices fall on concerns over high AI investment costs....Business
ADNOC signs LNG delivery agreement
The 15-year agreement was inked wit ENN LNG (Singapore).The LNG will primarily be sourced from ADNOC’s low-carbon Ruwais LNG project, currently being developed in Al Ruwais Industrial City, Abu Dhabi.
The Ruwais LNG project is set to be the first LNG export facility in the Middle East and North Africa (MENA) region to run on clean power.
Saudi fund assets dip slightly in Q3 but subscribers surge
Riyadh, Saudi Arabia -- The total value of assets held by public and private investment funds in Saudi Arabia decreased...Public funds focus on local money markets, while private funds favor equity and real estate.
The value of assets held by equity and real estate funds made up 84 percent of the private funds’ total assets.
Arabian Travel Market ties up with ICCA, GBTA as business set to touch US$1.8trn
Dubai, UAE--Arabian Travel Market (ATM) has entered into a partnership with the International Congress and Convention Association (ICCA) and the...ICCA and GBTA have been appointed as ‘Knowledge Partners’ for the regional trade show to be held at the Dubai World Trade Center
through its partnerships with the two noted global entities, ATM looks to deliver even more value and innovation to its attendees and exhibitors
Google to pay US$700m to US consumers
It is an antitrust settlement made public recently.In 2021, many US states had come together to file a lawsuit accusing Google of abusing its power regarding consumer access to apps
Google as part of the settlement will make changes to its Google Play app store to reduce competition barriers for developers
US pushes naval coalition as Yemen rebels vow to attack more ships
The United States pushed to build up a multinational naval task force to protect a key global shipping lane from...US Defense Secretary Lloyd Austin condemned the "unprecedented" spate of attacks in waters leading to the Suez Canal.
The Canal is a chokepoint for about 10 percent of global trade, that have forced many shipping companies to divert their vessels.
Hyundai to sell Russian plant
Sales of Hyundai cars have tumbled in Russia.The war in Ukraine has sparked an exodus of foreign companies from Russia, including many major car manufacturers.
Sanctions by the European Union, the United States and others have made it increasingly difficult to do business with Russia.
DIFC Innovation Hub 2023 graduates raise $600 million in funding
Dubai, UAE -- More than 200 start-ups graduating from the programs of DIFC Innovation Hub in 2023 have collectively raised...In 2023, the program also saw a record-breaking number of participants with over 700 applicants for a single cohort, out of which 19 start-ups graduated.
DIFC Innovation Hub is home to the first and largest financial technology accelerator in the Middle East, Africa and South Asia (MEASA) region.
Bayanat, Yahsat to merge
It will benefit from revenue synergies, economies of scale.The merger will create an AI-powered space technology champion in the MENA region with an implied market capitalization of over US$4 billion.
The combined entity will be vertically integrated and optimally positioned to capture regional, global opportunities in geospatial and mobility solutions.
Australia’s Starc, Cummins set salary records at IPL auction
Before Tuesday, England all-rounder Sam Curran was the most expensive player after being bought for $2.23 million last year by...The Australian cricketer Starc was snapped up by Kolkata Knight Riders for 247.5 million rupees ($2.98 million), setting an all-time IPL auction record
He broke the record set by Cummins earlier in the day when Sunrisers Hyderabad paid 205 million rupees ($2.47 million) for the World Cup-winning skipper
15% increase in air traffic at UAE airports during COP28, says GCAA
ABU DHABI, UAE – Airports in the country witnessed a 15 percent increase in air traffic during the 28th Conference...The first day of COP28 - November 30 2023 - witnessed the highest daily air traffic rate in the history of civil aviation in the UAE with 2,848 flights.
The General Civil Aviation Authority organized meets and daily communication sessions to discuss plans, improve air navigation management systems.
