Qatar Airways seeking 25% stake in Virgin Australia
Qatar Airways unveiled a bid to take a 25 percent stake in troubled airline Virgin Australia on Tuesday, a deal...Business Economy
Apple unveils new iPhone built for AI, looks to boost sales
Cupertino, United States - Apple on Monday unveiled new iPhones built for generative artificial intelligence as it seeks to boost sales...Business
First internationally recognized renewable ammonia shipment made
Dubai, UAE -- Abu Dhabi-based Fertiglobe, a strategic partnership between ADNOC and OCI Global, has completed the maiden shipment of...The renewable ammonia was generated at Fertiglobe's facilities in Egypt utilizing renewable hydrogen from its Egypt Green Hydrogen electrolyzer pilot.
This eco-friendly ammonia will play a crucial role in producing near-zero emissions synthetic soda ash, a vital component in laundry powder, for consumer goods giant Unilever.
OpenAI faces leadership crisis as staff threaten to follow Altman to Microsoft
This mass discontent follows the unexpected dismissal of OpenAI co-founder Sam Altman, whose leadership in AI advancements like ChatGPT has...This mass discontent follows the unexpected dismissal of OpenAI co-founder Sam Altman, whose leadership in AI advancements like ChatGPT has been crucial.
Reports had also been circulating that Altman is planning to launch a new AI venture and announcement was expected as soon as this weekend
UAE holds 19% of global sustainable bonds, says Fitch Ratings
DUBAI, UAE - Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues...Fitch Ratings has affirmed the critical role that COP28 will play in raising awareness of sustainability issues in the region.
Environmental, social and governance bonds in UAE constitute over 19 percent of the global ESG bond market.
Dubai Customs logs 13% growth in transactions in first nine months of 2023
DUBAI, UAE – Dubai Customs has experienced a robust 13 percent increase with 21.6 million transactions during the first nine...The upswing aligns with the targets of Dubai’s economic agenda D33, which seeks to double foreign trade.
By the end of the third quarter of 2023, Dubai Customs had processed approximately 18.8 million customs declarations.
AJEX, MODON sign partnership
AJEX will have rights to operate warehousing facilities at Modon.These facilities will be utilized for the storage of a diverse range of goods, including hazardous materials, food and beverage products, and general items.
The newly secured warehousing space aligns with Dammam's pivotal role in the Kingdom's oil, gas, and industrial sectors, AJEX said in a statement.
Adoption of electric vehicles in US face infrastructure hurdles
NEW YORK, US - The US transition to electric cars has hit a speed bump, with concerns about vehicle range and...Automakers in recent weeks have pushed back EV sales targets and delayed capital projects as they seek to reduce inventories of unsold EVs at dealerships.
The network of EV charging stations in the US remains dodgy, with many areas either lacking infrastructure or equipped with unreliable machines
Big tech firms have been fined billions, but not paid them
PARIS, FRANCE - Rarely a month goes by without big tech companies getting fined for price fixing, squashing competitors or misusing...Ireland's data regulator confirmed that Meta has not paid any of the US$2.2 billion in fines issued since last September.
Amazon is still appealing against a US$812 million fine from 2021, Luxembourg's data regulator said.
EDB pledges to expand UAE’s renewables market through easy financing
Dubai, UAE-- With its financing packages for the renewables sector to support the transition to clean and sustainable energy sources,...EDB CEO Ahmed Mohamed Al Naqbi said the bank through its financing can help businesses switch to solar-power to reduce emissions
The bank can offer up to 100% financing with a maximum tenure of 15 years and a two-year grace period for investments in renewable energy
AI, NLP transform business operations in Gulf region
AI and NLP are revolutionizing workplace efficiency by enabling employees to swiftly access essential information, thereby augmenting customer and personal...AI is creating a 'frictionless' work environment, streamlining daily operations.
Invisible apps provide seamless integration, enhancing employee efficiency.
Abu Dhabi to host third edition of Investopia summit in February
Abu Dhabi, UAE-- The third edition of the Investopia summit will be held in Abu Dhabi in February next year,...The event is expected to be graced by thousands of particpants from around the globe and locally, including investors, government officials, decision-makers, and entrepreneurs
The minister said that the summit is one of the important projects of the UAE in transitioning towards the new economic model and stimulating investment in future economic sectors
