ADNOC Gas announces $5 billion investment in Rich Gas Project
Abu Dhabi, UAE -- ADNOC Gas announced Tuesday it has made a final investment decision on the first phase of...Business
US aerospace manufacturers insist they have no use for tariffs
New York, United States -- US airlines and aerospace manufacturers insist they have no use for tariff protections, warning that...Business
MBC IPO retail subscription begins
MBC Group runs a group of TV and radio channels.The subscription process for the retail tranche of MBC Group will run for five days until December 18.
The Capital Market Authority approved, on November 21, the company's request to float 33.25 million shares in an IPO.
OPEC+ cartel’s grip on oil market loosening as demand slows: IEA
Slowing demand growth and rising US crude production will make it more difficult for OPEC+ to continue to prop up...The Paris-based IEA, which advises oil-consuming nations, noted that prices had fallen by around $25 per barrel since September highs.
Efficiency improvements and a booming electric vehicle fleet have also been lowering oil demand, it added.
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.
